Hunt Mining Announces $10,035,000 Bought Deal Financing

LIBERTY LAKE, WASHINGTON--(Marketwire - May 25, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMENATION IN THE UNITED STATES

Hunt Mining Corp. ("Hunt Mining" or "the Corporation") (TSX VENTURE:HMX) is pleased to announce that it has entered into an engagement letter with Macquarie Capital Markets Canada Ltd. ("Macquarie" or the "Underwriter"), pursuant to which Macquarie has agreed to purchase, on a bought deal private placement basis, 22,300,000 units (the "Units") in the capital of Hunt Mining at the price of $0.45 per Unit (the "Unit Price") for aggregate gross proceeds to Hunt Mining of $10,035,000 (the "Offering"). Each Unit will be comprised of one common share and one-half of one common share purchase warrant of the Corporation (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Corporation at a price of $0.65 per common share for a period of 24 months following the Closing Date (as defined below). The Corporation has also agreed to grant the Underwriter an option to purchase up to an additional 3,345,000 Units at the Unit Price for additional aggregate gross proceeds to Hunt Mining of $1,505,250, exercisable at any time, in whole or in part, at any time up to 48 hours prior to the Closing Date (the "Underwriter's Option"). If the Underwriter's Option is exercised in full, the aggregate gross proceeds to Hunt Mining will be $11,540,250.

The net proceeds of the Offering will be used for exploration and development work at the Company's properties in the Deseado Massif precious metal region of Santa Cruz, and for general working capital and corporate purposes.

It is expected that the closing of the Offering will occur on or about June 14, 2011 (the "Closing Date") and is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the TSX Venture Exchange.

The Underwriter will receive a cash commission of 7.0% of the gross proceeds raised in the Offering. The Underwriter will also receive compensation options (the "Compensation Options") equal to 7.0% of that number of Units issued in connection with the Offering (including upon exercise of the Underwriter's Option). Each Compensation Option will be exercisable to acquire one Unit on the same terms as the Offering for a period of 24 months following the Closing Date at an exercise price equal to the Unit Price, subject to regulatory approval.

This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and such securities may not be offered or sold within the United States or to a U.S. person absent registration or an applicable exemption from U.S. registration requirements. "United States" and "U.S. person" have the respective meanings assigned in Regulation S under the U.S. Securities Act.

About Hunt Mining Corp.

Hunt Mining Corp. has been an active and aggressive explorer in Santa Cruz since 2006. Since that time, the Corporation's wholly owned subsidiary, Cerro Cazador S.A., has completed a large amount of exploration activity including more than 43,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 15,000 surface channel, chip, and trench samples. The Corporation is currently engaged in a resource expansion drilling campaign at the flagship La Josefina Project. 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 Corporation'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 Corporation's intent to use the net proceeds of the Offering for exploration and development work at the La Josefina Project. 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 factors. Such forward-looking information is based on a number of assumptions, including but not limited to, the availability of additional financing for exploration and development activities, the estimated schedule and timeline for the development of the La Josephina Project, no significant decline in existing general business and economic conditions, the level and volatility of the price of gold, the accuracy of the Corporation'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. The Corporation 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.