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LIBERTY LAKE, WASHINGTON--(Marketwire - Dec. 4, 2012) - Hunt Mining Corp. (the "Corporation") (News - Market indicators) is pleased to announce that it has signed an exploration agreement for the La Valenciana project located in Santa Cruz province, Argentina. The La Valenciana project is contiguous to the Corporation's flagship La Josefina project. The Corporation also signed an amendment to its La Josefina contract.
These agreements were finalized with Fomicruz, the provincial mining authority for the Santa Cruz province of Argentina. With the addition of the La Valenciana project, the Corporation added an additional 328 square kilometres of land situated contiguous to the east of the Corporation's flagship La Josefina project. Contiguous to the south of the La Valenciana project is Mirasol Resources Ltd.'s Joaquin silver-gold discovery. The La Valenciana project lies approximately 100 km north of the Mina Martha silver mine operated by Coeur d'Alene Mines. Mina Martha was discovered by Mr. Matt Hughes, President and CEO of Hunt Mining and Danilo Silva, President of Cerro Cazador S.A., Hunt Mining's 100% owned Argentine subsidiary("CCSA").
Exploration efforts to date at La Valenciana have focused on due-diligence sampling of high priority targets with mineralization exposed at surface. Results from this sampling will be released when all results are available.
The La Josefina amendment allows for an extension of exploration and development for an additional six years until 2019. Particulars of both contracts will be disclosed once certified English translations have been completed.
The La Valenciana contract and La Josefina amendment were accepted and signed by Fomicruz Vice President, Mr. Jorge Valvano, effective November 15th 2012. These agreements recognize that mineral exploration is an activity that demands flexibility and adaptability to unique circumstances and provides that the development schedule for the projects may be modified from time-to-time by mutual consent of Fomicruz and CCSA.
About Hunt Mining
Hunt Mining Corp. has been an active and aggressive explorer in Santa Cruz since 2006. During that time, Hunt's wholly owned subsidiary, Cerro Cazador S.A., 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. Hunt Mining entered into an exploration agreement with Eldorado Gold for exploration and development in the Santa Cruz Province of Argentina. Historical results and additional information can be viewed at www.huntmining.com.
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 the release of the results of the due diligence sampling at La Valenciana. 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 factors. 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.