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HBY

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Share Name Share Symbol Market Type
TSXV:HBY TSX Venture Common Stock
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Hunter Bay Minerals Completes $500,000 Financing with Sumin

21/03/2013 12:00pm

Marketwired Canada


Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE:HBY)(OTCQX:HTBNF) is pleased
to announce that it has closed the second tranche of its private placement
financing announced on January 3, 2013 and March 19, 2013 by issuing to Sumin
Resources Limited ("Sumin") 5,000,000 units at a price of $0.10 per unit for
gross proceeds of $500,000. Each unit consists 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 until
September 19, 2013. Sumin's $500,000 subscription was completed in accordance
with the terms of the previously announced cooperation agreement between Hunter
Bay and Sumin.


The securities issued will be subject to a hold period expiring on July 20, 2013
pursuant to applicable Canadian securities laws and the rules of the TSX Venture
Exchange.


Proceeds 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.


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, 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.


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 its proposed
exploration program on the Sela Creek Project. 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
Christopher Wilson
CEO and President
(+44) 207-127-9125

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