Hunt Gold Corporation -- Update on Sale of "Lookout Silver Mine"
22 January 2009 - 4:54AM
Marketwired
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.
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 has
completed the sale of its "American Molygold" interests and will be
distributing the entire sale proceeds through a Stock Dividend to
its stockholders, this to be announced in January of 2009. The
Company has entered into an Agreement to dispose of its of its
"Lookout Silver" Mining Interests on February 2, 2009.
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.
For further information contact: Hunt Gold Corporation E Mail:
Email Contact Telephone: (954) 840-6956 Contact: Mr. Michael G
Saner
Hunt Gold (CE) (USOTC:HGLC)
Historical Stock Chart
From May 2024 to Jun 2024
Hunt Gold (CE) (USOTC:HGLC)
Historical Stock Chart
From Jun 2023 to Jun 2024