Spokane, Washington, May 7, 2013 -- Hunt Mining Corp. (the "Corporation") (TSX VENTURE: HMX) is pleased to announce it has added the La Valenciana / La Josefina project in Santa Cruz, Argentina to its Exploration Agreement with Eldorado Gold Corporation ("Eldorado"). The La Valenciana project lies to the west of and is contiguous with the Corporation's La Josefina project.
As part of Eldorado's acceptance of the La Valenciana / La Josefina project into the Exploration Agreement, the Corporation will receive a onetime payment of $325,000 and ongoing yearly lease payments of $125,000, as long as the La Valenciana / La Josefina project is considered a Stage II project under the Eldorado Exploration Agreement.
It is anticipated that under the Eldorado Exploration Agreement, the Corporation will initiate drilling at La Valenciana and continue new drill-target development at La Josefina in 2013. Mr. Matt Hughes, the Corporation's CEO, stated, "This represents a significant achievement for the Corporation. By including these projects in the existing Eldorado Exploration Agreement, we will have the opportunity to advance both projects at a much faster rate than would otherwise be likely under the current circumstances and market conditions."
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 has recently 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.