Hunt Gold Corporation -- Stockholder Updates

  Hunt Gold Corporation (PINKSHEETS: HGLC)
provides an update to its stockholders on various issues:

1. CONTINUED DRILLING "MOCKINGBIRD GOLD MINE":

Drilling at the Company's "Mockingbird" Dandy Mine, by TonaTec will resume by no later than January 10, 2009. Two holes are planned at this location. Stockholders will be updated as to the additional drilling and exploration plans being finalized at this time.

2. ASSAY REPORTS:

A substantial amount of core from the first 6 drill holes at the Great West and the Pocahontas Gold Mines has been split. The core has been shipped to Jacobs Assay, an independent assay laboratory located in Tucson, Arizona. The remainder of the core will be split and shipped this week. Jacobs Assay will be running the Company's core samples as a priority project, with the first assay results expected before the end of January 2009.

3. COMPANY SHARE STRUCTURE:

The Company recently increased its Authorized Share Capital to facilitate any deals and acquisitions which may be offered to the Company. The Company has not issued any additional shares of its Common Stock whatsoever. The amounts of the Company's outstanding shares reflected on the OTC Pink Sheets web site are constantly updated and are correct.

The Company has received a large number of enquiries in respect of a Reverse Split of the Company's stock. This will not be effected by the Company whatsoever and the Company's Management consider that a Reverse Split of the Company's Common Stock is highly detrimental to stockholder interests.

Stockholders may rest assured that no Reverse Split is being effected by the Company whatsoever.

4. WEB SITE & INVESTOR RELATIONS:

The Company has completed the Corporate web site but is awaiting the completion of certain very critical reports and valuations which are required to be placed on that web site; this is not expected to delay us for much longer.

As promised, the Company has appointed Investor Relations companies who will deal with (a) an aggressive awareness campaign for the Company and (b) deal directly with stockholders. These companies will commence upon the launch of the web site and upon receipt of the critical valuation and Mining data reports.

5. PURCHASES OF STOCK BY THE JOINT VENTURE COMPANY:

The Joint Venture Company has acquired and continues to acquire shares of the Company's stock in the market. A full scale buying programme by the JV will commence upon the launch of the Company's web site. This is to ensure that all stockholders are in possession of all of the facts; thereby allowing to decide whether to buy, hold or sell the shares of the Company's stock. The JV will not acquire any significant amounts of the Company's stock until that date.

6. SALE OF THE COMPANY'S MOLYBDENUM INTERESTS:

The Company announced on November 14, 2008 the sale of its "Molybdenum" interests held through its subsidiary company, American Molygold Corp.

The sale amount is US$620 million to be settled in shares of Common Stock of a USA quoted Company focussed exclusively on the business of Molybdenum. The sale will be completed upon the transfer of title of the various claims held by American Molygold Corp., to the Purchaser.

This transaction will be completed by late January 2009.

As announced on August 15, 2008, the Company announced that it intends to distribute all of the proceeds from the sale of American Molygold Corp. to its stockholders; upon receipt of these proceeds. This Stock Dividend has been approved in writing by stockholders holding in excess of 75% of this Company's Common Stock.

Stockholders will be advised once the "Record Date" and "Pay Date" of this Stock Dividend has been declared.

Hunt Gold Corporation intends to focus exclusively on the Exploration and Mining of its existing Gold properties. The Company does not need to place any shares for cash, nor does it need to retain any of the proceeds from the sale of American Molygold Corp.; as it is funding the exploration of its Gold Mining interests through traditional Bank Mortgage Finance.

Molybdenum has become very important as demand for moly is tied to demand for steel used in the petroleum industry (e.g. drill pipe, pipeline construction), which will benefit from accelerated petroleum exploration and development in an era of high oil prices.

The molybdenum assets held by American Molygold Corp. and disposed of by your Company; are as follows:

American Molygold

The American Molygold property is in the Cherry Mining District in Yavapai County, Arizona approximately 10 miles from Jerome. This 1,900 acre property includes the two major historic gold producing mines in the district, Monarch and Logan, as well as a probable resource of 150,000 tons and an inferred resource of 5,000,000 tons, based on work by the prior owner, Alanco. It is a Precambrian deposit in a Bradshaw Granite intrusion into Yavapai Schist, located along the Verde Fault. There is a large, partially stripped gold-bearing zone of alteration with vein lets of copper and molybdenum mineralization that has been interpreted as being the outer layer or shell of porphyry copper / moly mineralization on the eastern portion of the claims. The vein systems may warrant underground development and there is potential for an open pit low gold content target with associated moly and base metals production.

Rochester Molygold

The Rochester Molygold property is in the Rabbit Mining District in Madison County, Montana, approximately 30 miles from Butte and comprises approximately 2,250 acres. The project includes a majority of the former FMC Gold project, which reported an 850,000 ounce gold resource. It also includes the former US Steel moly project. This is also a Precambrian deposit with the gold found in well defined veins that strike north or northeast and dip steeply west, usually associated with granite dikes. Additionally, there are placer gold workings along Rochester Creek, and a possible method of mining would use water from dewatering the underground workings for placer mining downstream. The moly is found in a Precambrian quartz monzonite stock, which is altered to a greisens-like vuggy aggregate of muscovite, quartz, and clots and disseminated grains of pyrite and molybdenite, as well as quartz veins containing same.

7. DUAL LISTING OF THE COMPANY'S STOCK IN EUROPE:

The Company confirms that it will be proceeding with the listing of the Company's shares of Common Stock on a European Stock Exchange; as well as on the US OTC Pink Sheets Market. The Company has been working on this strategy with European Brokers and this plan will be coupled with these Brokers purchasing a substantial quantity of the Company's shares in the Open Market.

The Company will very shortly be quoted on the OTC Pink Sheets and on a European Stock Exchange. This would bring in a substantial amount of new investors and introduce the Company to European markets. Stockholders would be free to trade their stock in either US Dollars or in Euros.

The Company is proceeding with its planned strategy of becoming "Reporting" with the SEC with a planned move thereafter; to the OTC BB market in the United States.

The Dual listing of the Company's shares of Common Stock in Europe will significantly reduce the "free float" of the Company's shares of outstanding stock in the United States as this Dual Listing will be coupled with a placement of these "free trading" shares with various European brokerage Houses.

The Company's European Corporate Finance Advisors and Brokers are confident that this will be achieved in January of 2009.

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," "Lookout Silver," "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, this to be announced in January of 2009.

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 company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

For further information contact: Hunt Gold Corporation E Mail: Email Contact Telephone: [phone] Contact: Mr. Michael G. Saner