Hunt Mining Corp. Signs Letter of Intent for Option to Acquire Alaska Gold Project

Hunt Mining Corp. ("Company") (TSX VENTURE:HMX) announces it has signed a Letter
of Intent ("LOI") with a private optionor with respect to the proposed grant to
the Company of an option to acquire the Amanita project in Alaska (the
"Option"). The Amanita project is located within the Fairbanks mining district
and adjacent to the Fort Knox open pit mine, which produces 350,000 ounces of
gold annually. The Fairbanks district has produced an estimated 8 million ounces
of gold from lode and placer claims. The main area of the Amanita project lies
3.5 miles south of the Fort Knox mine and mill.


The project was previously leased by Kinross Gold between 1998 and 2001, during
which time Kinross defined a 5,000 by 12,000 foot gold soil anomaly, completed
15,300 feet of reverse circulation drilling and identified an oxide gold zone to
300 feet depth. The project was dropped in 2001 due to low gold prices. 


The grant of the Option to the Company is conditional on the satisfactory
conclusion of due diligence by the Company, the receipt of all necessary
corporate and regulatory approvals, and the execution and delivery of a
definitive agreement (the "Definitive Agreement") with respect to the Option.
Pursuant to the LOI, the Company will have a 3 month due diligence period which
may be extended by an additional 30 days if necessary. 


Under the terms of the LOI:



--  The term of the Option will be for 12 years. 

--  In order to maintain the Option, the Company will pay the owner of the
    Amanita project an initial option payment of $10,000 for the first year
    of the Option term, increasing by $10,000 a year for 12 years. The
    Company will pay $60,000, representing the payments required for the
    first three years, upon signing of the Definitive Agreement. 

--  At any time during the term of the Option, the Company may elect to
    purchase the Amanita project for $3,000,000. All prior yearly option
    payments will be credited against the $3,000,000 purchase price. 

--  The Company must spend a minimum of $100,000 per year on advancing the
    Amanita project. 

--  The project has a 3% Net Smelter Royalty ("NSR") payable to the owner of
    the Amanita project. The Company may at any time elect to purchase the
    NSR for $1,000,000 per percentage point. 

--  The Company will pay all claim maintenance fees to keep the claims
    comprising the Amanita project in good standing. 



Hunt Mining CEO Matt Hughes commented, "Significant potential exists to define
an oxide gold resource at Amanita. Hunt's plan is to do a detailed analysis of
all existing data on the Amanita project in anticipation of next year's field
season. With the signing of the LOI, I believe the Company has a great
opportunity to diversify our asset base across the Americas and add another
outstanding property to our portfolio." 


About Hunt Mining

Hunt Mining Corp. has been an active and aggressive explorer in Santa Cruz,
Argentina since 2006. During that time, Hunt has completed a large amount of
exploration activity including approximately 57,000 meters of HQ core drilling,
416 line kilometers of Induced Polarization geophysical surveys and more than
15,000 surface channel, chip, and trench samples. Historical results and
additional information can be viewed at www.huntmining.com.


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.


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 Company'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 the execution
of the Definitive Agreement, the exercise of the Option and the potential to
define an oxide gold resource at Amanita. 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, budgets 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 Company'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 Company'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 foregoing lists of risks,
uncertainties, assumptions and other factors are not exhaustive. The Company
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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Hunt Mining Corp.
Matthew J. Hughes
President and CEO
(509) 290.5659
mhughes@huntmining.com


Hunt Mining Corp.
Matthew Fowler
CFO and Corporate Secretary
(509) 290.5659
mfowler@huntmining.com
Hunt Mining (TSXV:HMX)
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