Hunt Gold Corporation -- Encouraging Drilling Results

Company Completes Its 7th Drill Hole and Commences on 8th Drill Hole Based Upon Very Encouraging Results

• Press Release
• Source: Hunt Gold Corporation
• On 10:03 am EST, Wednesday January 14, 2009

NEW YORK, NY--(MARKET WIRE)--Jan 14, 2009 -- Hunt Gold Corporation (Other OTC:HGLC.PK - News) confirms that it has completed its 7th drill hole for its current drill campaign at the "Mockingbird" Gold project in Arizona.

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The hole intersected a broad shear zone from 115 feet to 147 feet. The zone included multiple zones of hydrothermal alteration brecciation cemented with sulfide-clouded quartz. The hole was terminated at 150 feet.

The company is so encouraged with these results that it is changing the azimuth for the 8th and final hole for the current drill campaign. The 8th hole will now have an azimuth of 180 degrees (due south) and will be aimed directly under the historic workings of the Dandy Gold Mine. The eighth hole was begun yesterday, and is scheduled for completion during the evening of Wednesday, January 14, 2009.

The Company also responded to a shareholder question about why it is making a substantial investment in gold properties that were previously owned by major mining companies, but which did not bring them to production. Hunt Gold believes that shareholder value is enhanced when it is able to build on the efforts of major mining companies, rather than only pursuing virgin or grass roots projects.

The company considers past exploration and mining history prior to acquiring its properties and has been strongly encouraged by the findings. In the case of the Mockingbird Gold property, it was previously owned by Anaconda. Anaconda's geochemical work found anomalous gold throughout 2 square miles, and the company viewed the property as having a potential resource of 1,000,000+ ounces gold. The project was not terminated by Anaconda based on lack of merit. Rather, Anaconda's corporate parent, oil giant ARCO, shut down Anaconda (the whole company!) for a variety of unrelated reasons, most notably environmental liabilities at its Butte, Montana copper mine. Hunt Gold has obtained the available Anaconda exploration reports and other materials on the Mockingbird, which do not include any drill records, leading the company to conclude that Anaconda was closed before any drilling could be done.

Hunt Gold's Ambassador project, similarly, was previously owned by UNC, the gold subsidiary of United Nuclear Corporation. The preliminary work done by UNC indicated a potential resource of 1,000,000+ ounces gold, and a multi-year phased exploration effort was planned for Ambassador. However, United Nuclear decided to refocus its efforts on uranium, and all of its gold projects were jettisoned.

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," "Lookout Silver," "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.

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