HuntMountain Resources (fka HNTM)

[Slojab]

HuntMountain's La Josefina Drilling Continues to Hit Strong Gold and Silver Intercepts

SPOKANE, Wash.--(BUSINESS WIRE)--

HuntMountain Resources (OTCBB:HNTM) reports new assay results from the Company's ongoing HQ diamond core drilling program at the La Josefina gold-silver project in Santa Cruz province Argentina. Cerro Cazador S.A., The Company's wholly owned Argentine subsidiary, commenced drilling at La Josefina late in 2007. Since that time, the company has completed 85 core holes for more than 8,000 total meters. Drilling to date has focused on four, of the more than ten, targets previously identified as precious-metal bearing. The current target areas consist of prominent epithermal fissure-vein systems, exhibiting multiple braided veins, veinlets and fault breccias exposed over a cumulative strike length of 2.5 kilometers. Individual mineralized structures range from less than 0.5 meters to greater than three meters in width. Significant assays for the most recently finalized core-holes are as follows:

-- 1.10 meters (3.61 feet) from a down-hole depth of 124.2 meters
(407.50 feet) at a gold equivalent grade(a) of 18.33 grams per ton
("g/t") (0.59 ounces per ton)("oz/t") consisting of 13.28 g/t gold
(0.43 oz/t) and 262.55 g/t silver (8.44 oz/t) including

0.55 meters (1.80 feet) from a down-hole depth of 124.8 meters
(409.47 feet) at a gold equivalent grade(a) of 23.99 g/t (0.77
oz/t) consisting of 17.80 g/t gold (0.57 oz/t) and 322.00 g/t
silver (6.19 oz/t) SVN-D07-003

-- 0.50 meters (1.64 feet) from a down-hole depth of 86.50 meters
(283.81 feet) at a gold equivalent grade(a) of 19.00 g/t (0.61
oz/t) consisting of 18.30 g/t gold (0.59 oz/t) and 36.60 g/t
silver (1.18 oz/t) and:

0.45 meters (1.48 feet) from a down-hole depth of 124.4 meters
(408.16 feet) at a gold equivalent grade(a) of 16.15 g/t (0.52
oz/t) consisting of 16.15 g/t gold (0.52 oz/t) and 6.40 g/t silver
(0.12 oz/t) in hole SVN-D07-010

-- 2.3 meters (7.54 feet) from a down-hole depth of 41.00 meters
(134.48 feet) at a gold equivalent grade(a) of 32.43g/t (1.04
oz/t) consisting of 13.23 g/t gold (0.45 oz/t) and 998.43 g/t
silver (32.10 oz/t) including:

0.88 meters (2.88 feet) from a down-hole depth of 41.77 meters
(137.01 feet) at a gold equivalent grade(a) of 60.28 g/t (1.94
oz/t) consisting of 19.9 g/t gold (0.64 oz/t) and 2,100.00 g/t
silver (67.52 oz/t) in hole SVN-D07-004(b)

-- 2.53 meters (8.30 feet) from a down-hole depth of 87.55 meters
(287.16 feet) at a gold equivalent grade(a) of 8.66 g/t (0.28
oz/t) consisting of 6.86 g/t gold (0.22 oz/t) and 93.37 g/t silver
(3.00 oz/t) including

1.03 meters (3.38 feet) from a down-hole depth of 88.5 meters
(290.28 feet) at a gold equivalent grade(a) of 13.56 g/t (0.44
oz/t) consisting of 12.1 g/t gold (0.39 oz/t) and 80.35 g/t silver
(2.58 oz/t) in hole SVN-D07-002(b)

-- 0.50 meters (1.64 feet) from a down-hole depth of 81.00 meters
(265.68 feet) at a gold equivalent grade(a) of 17.42 g/t (0.56
oz/t) consisting of 15.25 g/t gold (0.49 oz/t) and 113.00 g/t
silver (3.63 oz/t) in hole SVN-07-001(b)
Certified sample preparation, gold and silver fire assay, and 28 element ICP analysis was carried out by ALS Chemex in Mendoza, Argentina and La Serena, Chile.

The Company has now completed approximately 8,400 meters of an ongoing program that will continue to focus on resource delineation within target areas where historical drilling intersected strong precious and base metal values (see PR-07-07 at www.huntmountain.com)

The La Josefina gold-silver property is an advanced stage exploration project consisting of a 528 square-kilometer area located near the center of the Deseado Massif region of Patagonia in northern Santa Cruz province, Argentina. The property encompasses a zone of epithermal alteration and mineralization one to three kilometers wide and more than ten kilometers in length. Within this area, more than 15 kilometers of precious-metal bearing veins have been identified. The Deseado Massif encompasses an emerging epithermal mineral province with abundant precious metal occurrences. The region currently hosts three producing mines, several deposits being readied for production, and a growing number of additional projects in advanced stages of exploration.

A complete table of all assays over 1 g/t is included below:

HOLE NUMBER From To Width Au g/t Ag g/t
--------------------------------------------------------------------

--------------------------------------------------------------------
SVN-D07-001 14.80 15.30 0.50 4.96 2.00
--------------------------------------------------------------------
17.00 17.50 0.50 2.855 1.55
--------------------------------------------------------------------
79.00 80.00 1.00 2.27 14.40
--------------------------------------------------------------------
81.00 81.50 0.50 15.25 113.00
--------------------------------------------------------------------

--------------------------------------------------------------------
SVN-D07-002 66.50 67.12 0.62 1.37 2.50
--------------------------------------------------------------------
73.40 73.80 0.40 1.15 2.70
--------------------------------------------------------------------
76.22 76.65 0.43 1.58 18.60
--------------------------------------------------------------------
87.55 88.10 0.55 1.02 227.00
--------------------------------------------------------------------
88.10 88.50 0.40 3.14 25.00
--------------------------------------------------------------------
88.50 89.05 0.55 12.40 88.20
--------------------------------------------------------------------
89.05 89.60 0.55 11.80 72.50
--------------------------------------------------------------------
89.60 90.08 0.48 4.68 27.10
--------------------------------------------------------------------
132.40 132.87 0.47 9.49 113.00
--------------------------------------------------------------------
132.87 133.37 0.50 1.51 12.60
--------------------------------------------------------------------

--------------------------------------------------------------------
SCN-D07-003 73.08 73.8 0.72 2.31 75.6
--------------------------------------------------------------------
77.38 77.9 0.52 1.17 11.8
--------------------------------------------------------------------
80.50 81.15 0.65 12.65 37.7
--------------------------------------------------------------------
113.30 114.00 0.70 1.01 (less than)0.50
--------------------------------------------------------------------

--------------------------------------------------------------------
SCN-D07-003 124.20 124.80 0.60 9.51 213.00
--------------------------------------------------------------------
124.80 125.30 0.50 17.80 322.00
--------------------------------------------------------------------
147.30 147.75 0.45 3.03 8.30
--------------------------------------------------------------------

--------------------------------------------------------------------
SVN-D07-004 23.15 24.00 0.85 7.82 2.30
--------------------------------------------------------------------
24.00 26.00 2.00 1.14 0.80
--------------------------------------------------------------------
30.00 31.00 1.00 2.12 2.20
--------------------------------------------------------------------
41.00 41.77 0.77 2.81 129.00
--------------------------------------------------------------------
41.77 42.65 0.88 19.90 2100.00
--------------------------------------------------------------------
42.65 43.30 0.65 16.55 537.00
--------------------------------------------------------------------

--------------------------------------------------------------------
SVN-D07-006 6.00 6.50 0.50 2.45 29.80
--------------------------------------------------------------------
6.50 7.00 0.50 2.50 130.00
--------------------------------------------------------------------
32.00 32.50 0.50 1.83 54.90
--------------------------------------------------------------------
32.50 33.00 0.50 1.69 29.80
--------------------------------------------------------------------

--------------------------------------------------------------------
SVN-D07-007 99.70 100.30 0.60 4.00 157.00
--------------------------------------------------------------------
100.30 100.85 0.55 2.03 70.80
--------------------------------------------------------------------

--------------------------------------------------------------------
SVN-D07-009 45.00 45.50 0.50 4.53 8.80
--------------------------------------------------------------------
65.85 66.25 0.40 3.33 29.80
--------------------------------------------------------------------
67.05 67.55 0.50 5.13 44.50
--------------------------------------------------------------------

--------------------------------------------------------------------
SVN-D07-010 69.00 70.00 1.00 1.66 1.00
--------------------------------------------------------------------
79.50 80.00 0.50 1.92 35.30
--------------------------------------------------------------------
85.55 86.00 0.45 2.18 3.80
--------------------------------------------------------------------
86.50 87.00 0.50 18.30 36.60
--------------------------------------------------------------------
124.40 124.85 0.45 16.15 6.40
--------------------------------------------------------------------
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 Nevada USA, Quebec Canada, and Santa Cruz Argentina.

(a) Gold equivalent grade was calculated by dividing the silver assay result by 52 and adding it to the gold value. Troy ounces/metric ton was calculated by dividing grams by 31.1 and rounding to 2 decimal places. Interval calculations are based on a weighted average using a 1.00 g/t cutoff value.

(b) Assays were previously reported using equivalent grades calculated with an outdated gold-silver ratio

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.

Source: HuntMountain Resources