HGLC Hunt Gold Corporation (CE)

These Convertible Bonds are being issued to settle all existing Loans made to the Company and to be issued by the Company in tranches, going forward.

The Company will settle all existing outstanding Loans through the issue of these Convertible Bonds this month. This will leave Hunt Gold Corporation free of any debt by this month end.

Hunt Gold Corporation's cash requirements are extensive given (a) its extensive exploration and drilling program on its various Gold properties which will be an ongoing cost as no halt nor delay is planned for this program (b) its ongoing monthly overhead costs (c) the costs of its Geologists, Professional Advisors and Consultants (d) its fifty percent share of the Joint Venture Company which is actively acquiring shares of Hunt Gold Corporation's Common Stock for short to medium term investment purposes and (e) the proposed stock buyback and cancellation program announced by the Company.

The issue of these Convertible Bonds will eliminate all existing Loan Accounts owed by the Company to various Loan Holders whom are all Accredited Investors; and will be issued to these Accredited Investors as the Company raises additional sums of cash on an ongoing basis. This will serve to (a) Strengthen the Company's Balance Sheet by removing these Liabilities and (b) serve to avoid any issue of the Company's shares of Common Stock for cash, this is expected to be for a period of not less than one year.

The terms of the Convertible Bonds include, without limitation, that: (i) at the option of the holder, the Convertible Bonds are convertible into shares of Hunt Gold Corporation's Common Stock, at any time after March 31, 2010 and not before that date under circumstances; and at a conversion price calculated at a 10% (ten percent) discount to average closing price of Hunt Gold Corporation's shares of Common Stock for 5 (five) trading days prior to any such conversion. These Bonds will bear interest at the rate of 9% (Nine percent) per annum.

The Convertible Bonds have not been (and will not be) registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or any applicable exemption from registration requirements. No Underwriting Commissions or Discounts will be payable in any issue of these Convertible Bonds.

The Company is relying on Rule 506 of Regulation D as the applicable exemption from the registration requirements of the Securities Act of 1933. The Convertible Bonds are being issued only to "accredited investors," as such term is defined in Rule 501 of Regulation D.

The Company undertakes to inform its investors as it issues these Convertible Bonds.

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. The Company has disposed of its "Lookout" Silver Projects and will be retaining an amount of US$65 million in quoted stock from that disposal.

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: MDM Worldwide Solutions, Inc. (Investor Relations Enquiries) E Mail: Email Contact Telephone: (646) 961-4458 Contact: Richard Hausig Hunt Gold Corporation (Corporate Enquiries) E Mail: Email Contact Telephone: (954) 840-6956 Contact: Mr. Michael G Saner

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