LIBERTY LAKE, Wash., June 21, 2017 (GLOBE NEWSWIRE) -- Hunt Mining Corp. (the “Corporation” or “Hunt”) (TSX-V:HMX) is pleased to announce it has extended an offtake agreement (“Agreement”) with Ocean Partners USA, Inc. (“Ocean Partners”) for the delivery of Silver-Gold concentrate (“Concentrate”) from the Martha Mine Project (“Martha Project”) located in Santa Cruz Province, Argentina.
Hunt has received an additional US $1,500,000 for the delivery of Concentrate from the Martha Project and will receive a further provisional payment upon shipment of the Concentrate from the loading port.
This is an extension to an initial November agreement that has now been fulfilled with the 4th shipment leaving the port on Tuesday the 19th of June and the repayment of the previous US $1,500,000 advance with deductions withheld through the 3rd shipment, leaving payment on Lot 4 as free and clear.
The Corporation entered a definitive agreement to purchase the Martha Project on February 10, 2016 and closed the acquisition of the Martha Project on May 12, 2016. The Corporation remains on schedule to resume production at the Martha Project in Q4 2016. In addition to the Martha Project and associated equipment at the facility, Hunt holds a large land position in the Santa Cruz Province, Argentina of 37 properties covering an area of 1,737 km sq. (429,407 acres).
Additional information on the Martha Project and other Santa Cruz, Argentina projects can be viewed on the Company website at: www.huntmining.com.
About Hunt Mining
Hunt Mining Corp. has continued to develop its properties as an active and aggressive explorer in Santa Cruz since 2006, entering into production of silver and gold at the Mina Martha property in January 2017. Since 2006, Hunt's wholly owned subsidiary, Cerro Cazador S.A., has completed exploration activity including 62,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 20,000 surface soil, sediment, channel, chip, and trench samples, beyond the historical work previous to the same properties. Hunt also owns a 100% interest in the Martha property, which includes the Martha Project, also located in the Santa Cruz Province of Argentina.
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.