HGLC Hunt Gold Corporation (CE)

Hunt Gold Corporation (PINKSHEETS: HGLC) confirms that it has now completed the terms required in respect of the sale of its "Lookout Silver" Project by the staking of the six additional mining claims at its "Lookout Silver" Project in Arizona. As previously announced, this was a requirement of Hunt Gold Corporation's contract of sale for that property. The land package now includes lode claims on three vein systems that have been historic producers of silver and other metals.

The Company has added an additional 1,000+ feet on the Silver Belt vein, which almost doubles the 1,200 feet the Company already had on its "Lookout Silver Project" lode claim.

The Company also added almost a mile to its lode claims along the Kit Carson vein system. Finally, an additional 1,500 feet were staked along the Lady Alde vein.

Hunt Gold Corporation's CEO Mike Saner stated that "With the acquisition of the six new mining claims, the Company's 'Lookout Silver' Project has been expanded into a significant property package within the Big Bug Mining District, which has been a strong historic producer of silver as well as gold. The previous owner of the property, BHP subsidiary Magma, focused on mining the gold resource at the Gladstone McCabe Mine during the 1980s. This leaves the opportunity open for the buyer of the 'Lookout Silver' Project to explore for the unmined silver resource."

The Company announced on January 16, 2009 that 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.

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 now confirm that this transaction will be concluded on February 2, 2009 as all conditions precedent have now been met, by the Company.

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. 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