HGLC Hunt Gold Corporation (CE)

Hunt Gold Corporation (PINKSHEETS: HGLC) confirms that it is to implement a stock repurchase and cancellation program. This is to be funded through a Loan secured against part of the proceeds of the sale of its "Lookout Silver" interests.

Stockholders will be kept appraised of the details of this Stock Buyback Program.

The Company remains massively undervalued at this time and a significant reduction in the amount of outstanding shares of the Company's Common Stock will go a long way towards rectifying this huge discount.

The proceeds from the sale of the "Lookout Silver" Mine package were in the amount of US$65 million. The Company expects to receive the proceeds in quoted Company Stock within three weeks now that the transaction has been completed.

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 completed in February of 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 company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

For further information contact: Mr. Michael G Saner Hunt Gold Corporation E Mail: Email Contact Telephone: (954) 840-6956