Hunter Bay Minerals Announces Proposed $500,000 Financing

Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE:HBY)(OTCQX:HTBNF) is pleased
to announce that its board of directors have approved a proposed private
placement offering up to 10,000,000 units at a price of $0.05 per unit for gross
proceeds of $500,000 (the "Offering") to Sumin Resources Limited ("Sumin"). Each
unit will consist of one ordinary share ("Share") and one share purchase warrant
("Warrant"), with each Warrant entitling the holder to acquire one additional
Share at a price of $0.10 per Share for a period of 18 months following the date
of issue of the Warrants. Sumin previously had the option to acquire up to
18,750,000 units of Hunter Bay pursuant to the terms of a cooperation agreement
between Hunter Bay and Sumin. The parties believe that the proposed terms more
accurately reflect current market conditions for junior resource companies.


Proceeds of the Offering will be used to fund Hunter Bay's exploration program
on its Sela Creek Project as well as for general working capital and corporate
purposes. Closing of the proposed Offering is subject to a number of conditions,
including receipt of all necessary corporate and regulatory approvals, including
approval of the TSX Venture Exchange.


The securities described herein have not been, and will not be, registered under
the United States Securities Act of 1933, as amended, (the "U.S. Securities
Act") or any state securities laws, and accordingly, may not be offered or sold
within the United States except in compliance with the registration requirements
of the U.S. Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of Hunter Bay's securities in
the United States.


About Hunter Bay

Hunter Bay is engaged in the acquisition, exploration and development of mineral
resource properties located in South America and Canada. Hunter Bay's lead
project is the Sela Creek Project, located in Suriname, in which Hunter Bay has
an option to acquire up to an eighty percent (80%) interest. Hunter Bay also
owns a one-hundred percent (100%) interest in the Great Bear Lake Properties
located in the eastern side of Great Bear Lake, NWT, Canada.


Forward-Looking Statements

Information set forth in this news release contains forward-looking statements
that are based on assumptions as of the date of this news release. These
statements reflect management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance. Hunter Bay cautions
that all forward looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many of which are
beyond Hunter Bay's control. Such factors include, among other things: risks and
uncertainties relating to Hunter Bay's ability to complete the private placement
and to obtain TSX Venture Exchange approval. Accordingly, actual and future
events, conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the forward looking
information. Except as required under applicable securities legislation, Hunter
Bay undertakes no obligation to publicly update or revise forward-looking
information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Hunter Bay Minerals plc
Bridge House, London Bridge
London, England SE1 9QR
Christopher Wilson, CEO and President
([phone]