Hunt Gold Corporation -- Additional Stock Repurchases

NEW YORK, NY, Jul 23 (MARKET WIRE) --
Hunt Gold Corporation (PINKSHEETS: HGLC) confirms that a portion of sale
proceeds in respect of its "American Molygold" Mining & Exploration
interests in the amount of US$10 million are to be utilized to effect a
share buyback of the Company's "free float" of Common Stock.

Given the fact that the Company has 480 million in "free trading" shares,
the value of the Company's "free float" is in amount of US$2,000,000,
based upon current stock price levels.

There is now little doubt that barring a substantial rise in the price of
the Company's stock price, this US$10 million in stock repurchases by the
Company, will decrease the Company's "free float" enormously.

Investment Groups who hold voting power over 51% of the Company's
outstanding shares of Common Stock are still contemplating a Tender Offer
to repurchase a portion of the Company's "free trading" shares. The
pricing of this Tender Offer remains under consideration given the
extremely undervalued and erratic Stock Price of the Company.
Stockholders will be advised accordingly.

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"
interests. The Company is completing the sale of its "American Molygold"
interests.

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

Copyright 2008, Market Wire, All rights reserved.

-0-