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Hunt Mining Corp. (the "Corporation") (TSX VENTURE:HMX
- News) would like to
announce the appointment of Vicki Streng as Interim
Chief Financial Officer and Corporate Secretary. Mr. Bryn Harman, the current
Chief Financial Officer, is resigning his position to seek other
opportunities but will remain as a Director of the Corporation. The
resignation of Mr. Harman becomes effective March 24th, 2011. The Corporation
would like to thank Mr. Harman for his time and effort in the operations of
Hunt Mining. Ms. Streng, the Corporation's current
Controller, has over fifteen years of accounting experience in the mining
industry. Previously, she held the positions of Controller for Nevoro Inc., Controller for Minera
Andes Inc. and Assistant Controller for Yamana Gold
Inc. (formerly Yamana Resources Inc.).
The Corporation also announces that it has entered into an agreement
to purchase a US$103,000 loan owing from Cerro Cazador
S.A. ("CCSA"), a wholly owned subsidiary of the Corporation, to HuntMountain Resources Ltd., a corporation controlled by
the Corporation's Executive Chairman. The purchase price for this transaction
is US$99,910, a 3% discount from the face value of the loan. The loan has
accrued interest totaling US$11,682 and therefore the total purchase price
for the transaction is US$111,592. Due to Argentine banking regulations, this
transaction allows the Corporation to better manage its working capital.
An agreement establishing the loan from HuntMountain
to CCSA was effected in June of 2009. The purpose of the loan was to finance
CCSA's ongoing operations while the Corporation's management was working on
the Qualifying Transaction and concurrent financing transactions that closed
on December 23, 2009.
This loan acquisition transaction was approved by the TSX Venture
Exchange on March 11, 2011.
About Hunt Mining
Hunt Mining Corp. has been an active and aggressive explorer in Santa
Cruz since 2006. Since that time, the Corporation's wholly owned subsidiary,
Cerro Cazador S.A. ("CCSA"), has
completed a large amount of exploration activity including more than 37,000
meters of HQ core drilling, 416 line kilometers of Induced Polarization
geophysical surveys and more than 10,000 surface channel, chip, and trench
samples. The company is currently engaged in a resource expansion drilling
campaign at the flag-ship La Josefina project. Historical results and
additional information can be viewed at www.huntmining.com.
FORWARD-LOOKING STATEMENTS
This announcement contains forward-looking information and
forward-looking statements (collectively, "forward-looking
information") under applicable securities laws, relating, but not
limited to the Corporation's expectations, intentions, plans and beliefs.
Forward-looking information can often be identified by forward-looking words
such as 'anticipate', 'believe', 'expect', 'goal', 'plan', 'intend',
'estimate', 'may' and 'will' or similar words suggesting future outcomes or
other expectations including with respect to the completion, and timing of
the completion, of the loan acquisition transaction. Such forward
looking-information is based on current expectations that involve a number of
known and unknown risks and uncertainties that may cause actual results to
differ materially from those expressed or implied by the forward-looking
information. Factors that could cause actual results to differ materially
from any forward-looking information include, but are not limited to, failure
to establish estimated resources, the grade and recovery of ore which is
mined varying from estimates, capital and operating costs varying
significantly from estimates, delays in obtaining or failures to obtain
required governmental, environmental or other project approvals, inflation,
changes in exchange rates, fluctuations in commodity prices, delays in the
development of projects, uncertainties relating to the interpretation of the
geology, continuity, grade and size estimates of mineral resources and
unanticipated operational or technical difficulties and other factors. Such
forward-looking information are based on a number of assumptions, including
but not limited to, the availability of financing, no significant decline in
existing general business and economic conditions, the level and volatility
of the price of gold, the accuracy of the Corporation's resource estimates
and of the geological, metallurgical, price and other assumptions on which
the estimates are based. Should one or more risks and uncertainties
materialize or should any assumptions prove incorrect, then actual results
could vary materially from those expressed or implied in the forward-looking
information and accordingly, readers are cautioned not to place undue
reliance on this forward-looking information. The Corporation does not assume
the obligation to revise or update this forward-looking information after the
date of this announcement or to revise such information to reflect the
occurrence of future unanticipated events, except as may be required under
applicable securities laws.
Neither the TSX Venture nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture) accepts responsibility
for the adequacy or accuracy of this release.
Contact:
Dean Stuart
Hunt Mining Corp.
Investor Relations
(403) 517-2270
dstuart@huntmining.com
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