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HuntMountain Acquires High Grade
Silver-Gold Prospect in Mexico�s Sierra Madre Trend
(SPOKANE, WA) HuntMountain Resources
(OTCBB: HNTM) (Frankfurt: MPT) has acquired the mineral rights to the
El Capitan exploration concession in the Chinipas district of western
Chihuahua State, Mexico. El Capitan is a high-grade silver-gold
prospect covering over 20,000 acres (8,105 hectares) located mid-trend
within the prolific Sierra Madre Gold Belt approximately 30 kilometers
north of Coeur�s Palmarejo silver-gold project. The Sierra Madre
is host to numerous producing precious metal mines and deposits under
development including the Dolores (Minefinders), Mulatos (Alamos Gold),
Ocampo (Gammon Lake), and El Sauzal (Goldcorp). The concession
was purchased outright through HuntMountain�s wholly-owned subsidiary,
Cerro Cazador Mexico S.A. de C.V., with no underlying royalties held by
any other corporate entity or private individual.
El Capitan shares a similar geological setting
to many of the deposits situated along the Sierra Madre trend.
The prospect encompasses multiple zones of known gold, silver and base
metal occurrences including several that have undergone small-scale
mining. Styles of mineralization that can be seen on the property
include high-grade epithermal veins, breccias and stockworks, as well
as carbonate-hosted disseminations and skarn-type showings.
During a preliminary visit for the purpose of
due diligence, a series of grab samples were assayed from several
prospective zones and returned the following results*:
- 164.57 grams/tonne (g/t) (4.8 ounces/ton)
(oz/t) silver and 2.06 g/t (0.06 oz/t) gold (#12102)
- 462.86 g/t (13.5 oz/t) silver and 2.06 g/t
(0.06 oz/t) gold (#12103)
- 82.29 g/t (2.4 oz/t) silver and 0.69 g/t (0.02
oz/t) gold (#12105)
- 428.57 g/t (12.5 oz/t) silver and 0.96 g/t
(0.028 oz/t) gold (#12106)
- 384 g/t (11.2 oz/t) silver and 0.55 g/t (0.016
oz/t) gold (#12107)
�We are delighted to announce our acquisition
of the El Capitan silver-gold property and HuntMountain�s entry into
the world class Sierra Madre Gold Trend,� said President and Chairman
Tim Hunt. �Chihuahua State, Mexico has a rich mining history
going back four hundred years, and we are determined to continue the
story through additional discoveries and subsequent mining of precious
metal deposits.�
An aggressive exploration program will be
initiated in Fall 2008 pending the finalization of access agreements
with area surface owners.
*Samples were assayed by Chris Christopherson,
Inc. of Kellogg, Idaho USA.
HuntMountain Resources is a U.S.-based junior
exploration company engaged in acquiring, exploring and developing
precious and base metals properties throughout North and South America.
The Company currently controls and operates projects in Santa Cruz
Argentina, Chihuahua Mexico, Nevada USA, and Quebec Canada.
This news release may contain forward-looking
statements within the meaning of Section 27A of the Securities Act and
Section 21E of the Exchange Act. Forward-looking statements are
inherently subject to risks and uncertainties, many of which cannot be
predicted with accuracy, and some of which might not even be anticipated.
This news release is neither a prospectus nor an offer to sell
securities or stocks in the company. It is intended for informational
purposes only.
FOR FURTHER INFORMATION PLEASE CONTACT:
Steve Taylor, Vice President of Corporate Development
HuntMountain Resources
(509) 892-5287
staylor@huntmountain.com
www.huntmountain.com
� 2008 HuntMountain Resources.
All rights reserved
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