HMX Hunt Mining Corp

Hunt Mining Corp. ("Hunt") (TSX VENTURE:HMX) is pleased to announce the signing
of an exploration agreement with Eldorado Gold Corporation ("Eldorado") for
precious metal exploration in Argentina. 


Under the terms of the agreement, Hunt's Argentine wholly-owned subsidiary Cerro
Cazador S.A. ("CCSA") will be the initial operator conducting exploration
activities on existing Hunt properties including twenty exploration concessions
("Cateos") and six discovery concessions ("Manifestations of Discovery")
aggregating a total of 2,013 square kilometers of prospective ground in the
Deseado Massif, Santa Cruz province Argentina. Hunt will also work to locate,
submit, explore and develop new projects generated in the agreement area. Work
programs, expenditures, and new submittals, under the agreement, will be
considered for approval by a technical committee consisting of two
representatives from Hunt and two from Eldorado. Upon approval, 100% of
exploration expenditures will be paid by Eldorado which has currently budgeted
approximately Cdn $2.5 million over the next seven months remaining in 2012.
This agreement does not affect Hunt's flagship La Josefina project or the La
Valenciana project (pending) in which Hunt will retain all rights as prescribed
in the arrangements between Fomicruz, the Santa Cruz provincial mining company,
and CCSA. 


Summary of Agreement Terms

Under the terms of the agreement, exploration will be broken into three stages
with all funding for the first two stages coming from Eldorado.




--  Stage I (reconnaissance exploration) 
    --  Provides a 30 month period to evaluate projects before graduating to
        Stage II or being dropped from the agreement with CCSA retaining a
        100% interest. 
    --  Each new Stage I project, generated by Hunt and accepted by Eldorado
        under the agreement, will require a onetime payment from Eldorado to
        CCSA of Cdn $125,000. 

--  Stage II (drilling, advanced exploration, preliminary economic
    assessment) 
    --  Each project elected by Eldorado to advance to Stage II will require
        a onetime payment from Eldorado to CCSA of Cdn $200,000 plus annual
        payments on each project of Cdn $125,000. 

--  Stage III (JV formation, feasibility, development toward production) 
    --  Projects advancing to Stage III will require the formation of a
        joint venture entity with a 75% interest in such entity being owned
        by Eldorado and 25% interest being owned by Hunt. 
    --  Additionally, CCSA will also receive a onetime payment of Cdn
        $1,500,000 from Eldorado. 



Advanced Projects covered by the Agreement

Hunt's Bajo Pobre Gold Project has been designated as a Stage II project under
the terms of the Agreement. Exploration plans for Bajo Pobre will include
advanced drill target definition through structural mapping, detailed sampling
and may also include additional geophysical analysis with planned drill testing
later in 2012. On Hunt's El Gateado the plan is to re-evaluate past drilling
results and geologic interpretations with the goal of developing new drill
targets and taking it to Stage II status.


 "We are very pleased that our team and assets in Santa Cruz Argentina has
attracted a leading, low cost, precious metal producer like Eldorado Gold
Corporation, to partner with us in exploring what we firmly believe is one of
the most prospective precious metals regions in the world" stated Tim Hunt, Hunt
Mining Corp's Executive Chairman. 


About Hunt Mining

Hunt Mining Corp. has been an active and aggressive explorer in Santa Cruz since
2006. During that time, Hunt's wholly owned subsidiary, Cerro Cazador S.A., has
completed a large amount of exploration activity including approximately 57,000
meters of HQ core drilling, 416 line kilometers of Induced Polarization
geophysical surveys and more than 15,000 surface channel, chip, and trench
samples. Historical results and additional information can be viewed at
www.huntmining.com.


FORWARD-LOOKING INFORMATION

This announcement contains forward-looking information and forward-looking
statements (collectively, "forward-looking information") within the meaning of
applicable securities laws, relating, but not limited to the Hunt's
expectations, intentions, plans and beliefs. Forward-looking information can
often be identified by the use of words such as 'anticipate', 'believe',
'expect', 'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar
words suggesting future outcomes or other expectations including with respect to
the benefits that may be achieved in connection with the agreement with
Eldorado, Eldorado's budget for the remainder of 2012, the planned activities at
the Bajo Pobre Gold Project and El Gateado and the timing thereof, and Hunt's
work to locate, submit, explore and develop how projects generated in the
agreement area. Such forward looking-information is based on assumptions and
current expectations that involve a number of known and unknown risks and
uncertainties that may cause actual results to differ materially from those
expressed or implied by the forward-looking information. Factors that could
cause actual results to differ materially from any forward-looking information
include, but are not limited to, failure to establish estimated resources, the
grade and recovery of ore which is mined varying from estimates, capital and
operating costs varying significantly from estimates, delays in obtaining or
failures to obtain required governmental, environmental or other project
approvals, inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects, uncertainties relating to the
interpretation of the geology, continuity, grade and size estimates of mineral
resources and unanticipated operational or technical difficulties and other
risks and uncertainties set out in the Hunt's annual and quarterly management
discussion and analysis which are available at www.sedar.com.


Such forward-looking information is based on a number of assumptions, including
but not limited to, the availability of financing, no significant decline in
existing general business and economic conditions, the level and volatility of
the price of gold, the accuracy of Hunt's resource estimates and of the
geological, metallurgical, price and other assumptions on which the estimates
are based. Should one or more risks and uncertainties materialize or should any
assumptions prove incorrect, then actual results could vary materially from
those expressed or implied in the forward-looking information and accordingly,
readers are cautioned not to place undue reliance on this forward-looking
information. Readers are further cautioned that the forgoing lists of risks,
uncertainties, assumptions and other factors are not exhaustive. Hunt does not
assume the obligation to revise or update this forward-looking information after
the date of this announcement or to revise such information to reflect the
occurrence of future unanticipated events, except as may be required under
applicable securities laws.

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