Hunt Mining Signs Letter of Intent with Eldorado Gold
07 Novembre 2011 - 2:00PM
Marketwired
Hunt Mining Corp. (the "Corporation" or "Hunt Mining") (TSX
VENTURE:HMX) is pleased to announce the signing of a Letter of
Intent with Eldorado Gold Corporation ("Eldorado") with respect to
certain mineral exploration Cateos and Manifestations of Discovery
("Projects") located in Santa Cruz Province, Argentina.
Under the terms of the Letter of Intent, Hunt Mining has granted
exclusive rights to Eldorado, which has declared its intention to
review the Projects with the objective of entering into a strategic
alliance or option agreement with Hunt Mining to jointly explore
and develop the Projects. Eldorado will be committing significant
financial and personnel resources to the evaluation of the Projects
under the terms of the Letter of Intent. The Letter of Intent
expires on December 31, 2011. There is no assurance that Hunt
Mining and Eldorado will enter into any further agreement with
respect to the Projects.
Hunt Mining is a major landholder in Santa Cruz Province,
Argentina controlling 2,867 sq. km or 286,792 hectares,
encompassing 3l mineral concessions. Hunt Mining maintains a year
round exploration and development camp employing a number of
experienced geologists and support staff, and is ramping up
exploration for the Argentine Spring season.
About Eldorado Gold Corporation
Eldorado Gold Corporation, with its head office in Vancouver,
Canada, is an international mid tier gold producer active in
development and exploration. Eldorado operates the Kisladag and
Efemcukuru gold mines in Turkey; the Jinfeng, Tanjianshan and White
Mountain gold mines in China; and the Vila Nova iron ore mine in
Brazil. In China, Eldorado is constructing the Eastern Dragon gold
mine, which is expected to start production in Q3 2012. Eldorado is
also developing the Perama Hill project in Greece, and the
Tocantinzinho (TZ) project in Brazil, and have ongoing exploration
programs in China, Turkey, Brazil, and Nevada in the United States.
Additional information can be viewed at www.eldoradogold.com.
About Hunt Mining Corp.
Hunt Mining Corp. has been an active and aggressive explorer in
Santa Cruz Province, Argentina since 2006. Since that time, the
Corporation's wholly owned subsidiary, Cerro Cazador S.A., has
completed a large amount of exploration activity including
approximately 53,000 meters of HQ core drilling, 416 line
kilometers of Induced Polarization geophysical surveys and more
than 15,000 surface channel, chip, and trench samples.
The Corporation is currently engaged in a resource expansion
drilling campaign at the flagship La Josefina Project. Historical
results and additional information can be viewed at
www.huntmining.com.
FORWARD-LOOKING INFORMATION
This announcement contains forward-looking information and
forward-looking statements (collectively, "forward-looking
information") within the meaning of applicable securities laws,
relating, but not limited to the Corporation's expectations,
intentions, plans and beliefs. Forward-looking information can
often be identified by the use of 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 Eldorado and Hunt Mining
entering into a strategic alliance or option agreement to jointly
explore and develop the Projects, the drilling program on the
Corporation's La Josefina Project, the interpretation of
exploration results received to date and the timing for
commencement of the spring drilling program. Such forward
looking-information is based on assumptions and 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
risks and uncertainties set out in the Corporation's annual and
quarterly management discussion and analysis which are available at
www.sedar.com. Such forward-looking information is 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. Readers are
further cautioned that the forgoing lists of risks, uncertainties,
assumptions and other factors are not exhaustive. 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 Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Hunt Mining Corp. Dean Stuart Investor Relations (403)
517 2270dstuart@huntmining.com Hunt Mining Corp. Viresh Varma
Director of Corp. Development (647) 588
0460vireshvarma@huntmining.com Hunt Mining Corp. Matthew J. Hughes
President and CEO (509)
892-5287mhughes@huntmining.comwww.huntmining.com
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