Hunt Gold Corp. announced an update following January 16, 2009's news that it is disposing of its “Lookout Silver” Mine. The Company was required to stake additional claims surrounding this mine as a condition of the sale, and today confirmed that the staking of the additional claims and the registration of the requisite documentation with the BLM is ongoing and will be completed this week.
By selling the “Lookout Silver” Mine, Hunt Gold will be able to concentrate exclusively on its Gold Mining interests and obtain further funds to finance the massive expedited exploration and drilling campaigns currently underway. The proceeds from the sale of this mine, in the amount of $65 million, are being retained by the Company.
The Company confirmed that this transaction will be concluded on February 2, 2009.
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