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NEW YORK, NY -- Hunt Gold Corporation (PINKSHEETS: HGLC.PK) confirms that is has been in protracted discussions for several weeks in respect of the Company's Mining Properties and its future strategy; which are now in the final stages of completion. Upon the completion of these agreements within the next two weeks, it will have a very material effect on the Company's Mining Property holdings, a very significant reduction in the number of outstanding shares of our Common Stock due to mutually agreed upon cancellation of certain Agreements. With respect to the remainder of the Company's Mining Portfolio, the Company will advise stockholders as to its course of action in due course. We reaffirm that there will be no Reverse Split of the Company shares of Common Stock.
The Company will be dealing with other outstanding issues concerning stockholders during this reorganization.
We are keenly aware of shareholder sentiment, having been in touch with shareholders concerns from the very outset. In this regard, we have appointed a new Corporate Communications Company, Platinum Investor Relations, Inc. to interact with the shareholders during this process.
Stockholders are advised to exercise caution in their dealings in the Company's shares of Common Stock pending further information in respect of these transactions. Stockholders may rest assured that the Company will be extracting value for its stockholders in respect of these transactions and at such time as the Company is in a position to elaborate further on its rationale for these actions; it will do so. The huge prevailing discount of the Company's stock price to its Net Asset Value coupled with other issues considered by your Company's Management to be of significance to our stockholders, have brought about these necessary actions by the Company. In light of these actions being undertaken by the Company, the Company's Management is optimistic that the Company's substantially reduced number of outstanding shares of its Common Stock will result in an increased and more accurate price per share of our Common stock.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird", "Ambassador", "Golden Eagle", "Gladstone Lookout", "Lady Alde", "Williamson", "Blue Copper Mine", "Starlight", "American Flag", "Venezia", "Stormcloud", "Cherry", "Buffalo Limecap", "Red Cloud" and "Federal". The Company holds interests in American Molygold Corporation and various Silver Mining Interests.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
CONTACT: Joe McCarthy, Platinum Investor Relations, Inc e-mail: huntgold@platinumir.org Tel: +1 917 470 9514 Fax: +1 917 720 9084 Mr. Michael G Saner, Hunt Gold Corporation e-mail: investor@huntgoldcorp.com Tel: +1 954 840 6956
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
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