Replies to post #21083 on Hunt Gold Corporation (HGLC)

[Brad S]

Do you not read the PR's? There's only one "recipient" of the $65 million and it's certainly not the shareholders.



NEW YORK, NY -- (Marketwire) -- 01/21/09 -- Hunt Gold Corporation (PINKSHEETS: HGLC) announced on January 16, 2009 that it is disposing of its "Lookout Silver" Mine.

The Company was required to stake additional claims surrounding this mine as a condition of the sale as it is disposing of the "entire package" that being "Lookout Silver Mine and the additional surrounding claims."

The Company can confirm that the staking of the additional claims and the registration of the requisite documentation with the BLM is ongoing and will be completed this week, thereby ensuring no delays in the completion of this transaction.

This sale is being effected to allow the Company to concentrate exclusively on its Gold Mining interests and to obtain further funds to fund the massively expedited exploration and drilling campaigns currently underway.

The proceeds from the sale of the "Lookout Silver" Mine package, in the amount of US$65 million, are being retained by the Company.

The Company can confirm that this transaction will be concluded on February 2, 2009.