Hunt Gold Corporation (HGLC)

[THEDREAM777]

NEWS on GOOGLE:
Hunt Gold Corporation -- Planned Share Buyback
Company Confirms Its Intentions to Effect a Substantial Share Buyback

Last update: 9:36 a.m. EDT July 16, 2008
NEW YORK, NY, Jul 16, 2008 (MARKET WIRE via COMTEX) -- Hunt Gold Corporation (PINKSHEETS: HGLC) announced on July 14, 2008 that certain Investment Groups had assumed voting control of the Company and the Board of Directors, with the assistance of these Investment Groups, and that the Company will definitely be disposing of its "Molygold" interests very shortly.
Stockholders are advised that the Company has identified holders of the Company's "free trading" stock; equal to 81% of the Company's outstanding "free float" of its shares of Common Stock. The Investment Groups are commencing with offers to each of these stockholders at this time, with the intention of attempting to acquire these shares "off the market."
The Investment Groups have made an offer to Fortress Financial Group, Inc. to acquire their entire stockholding in Hunt Gold Corporation. The Board of Directors of Fortress Financial Group, Inc. has agreed to this disposal, subject to the price per share being acceptable to themselves, and that the entire holding be purchased in full and paid for in cash. It is expected that this deal could be consummated within days.
The proceeds from the sale of these "Molygold" interests are to be utilized to effect a substantial share buyback of the Company's "free float" of Common Stock.
The Investment Groups with voting control of this Company are determined to narrow the discount between the current low stock price and the Company's NAV. Their short-term price target per share is not lower than US$0.02 (2c) per share compared to the closing price of US$0.006 on July 15, 2008.
Stockholders will continually be advised accordingly, as your Company's Management becomes aware of further details and developments.
ABOUT HUNT GOLD CORPORATION