Hunter Resources PLC New Prospect (7095Q)

TIDMHUN

RNS Number : 7095Q

Hunter Resources PLC

19 June 2015

Hunter Resources plc

("Hunter" or the "Company")

(AIM: HUN)

Prospero Project acquisition

Additional land applicaton north of Pampamali

The board of directors of Hunter (the "Board") is pleased to announce that, following further regional exploration in the Pampamali area in Peru, the Company has lodged applications for additional tenements covering 5,000 hectares to the north west of the Pampamali Project, to be named the Prospero Project. The Prospero Project is close to, and along strike from the Pamapamali Project, and could potentially share future facilities and infrastructure. This application has been accepted and the tenements will be owned 100% by Hunter's wholly owned subsidiary, Gold Hunter SAC. The location of these tenements is shown in Figure 1 which is available on the Company's website www.hunter-resources.com. The application is now progressing through the normal Peruvian mining tennement application process.

The ground under application is directly along strike of the Company's Pampamali Project from which the trend of mineralisation continues into this new area. Preliminary mapping of the Prospero Project by the Company's technical team has identified prospective geological structures and quartz veining with associated hydrothermal activity and breccias.

Veins can be seen on many of the hillsides and Spanish workings (which at the Pampamali Project have returned strongly anomalous gold samples), are evident in several locations. Breccia fragments and strong iron oxide staining can be found in most of the streambeds indicative of the presence of mineralisation.

The Prospero and Pampamali Projects are located within a prospective silver-gold-base metal belt. The Compania de Minas Buenaventura owned Julcani silver-base metal mine lies approximately 25 km north west of the Prospero and Pampamali Projects and has been operating since 1937.

Hunter plans to commence geological mapping and sampling with a view to defining drillable targets over the next few months.

The Pampamali Project consists of 8 exploration concessions with a total area of 3,500 hectares and is located in central Peru in the Department of Huancavelica, approximately 550 km by road from the City of Lima. Hunter has the option, subject to certain conditions, to acquire a 51% interest in the Pampamali Project, details of which have previouisly been announced.

Simon Hunt, Executive Chairman of Hunter, said: "The acquisition by the Company of the Prospero Project approximately doubles the size of the Company's concessions in the area and provides new and excellent geological targets over ground not previously subject to modern geological exploration."

In accordance with the guidelines of the AIM Market of the London Stock Exchange, Andrew Richards BSc (Hons), DipEd MAusIMM MAIG MSEG GAICD, a Director of Hunter and a qualified geologist with over thirty years of experience in the mining industry, is the qualified person as defined in the London Stock Exchange's Guidance Note for Mining and Oil and Gas companies, who has reviewed and approved the technical information contained in this announcement. Mr. Richards has also relied on primary information supplied by staff and third party consultants in carrying out his review."

For further information, please contact:

 
Hunter Resources PLC       Allenby Capital Limited 
 Simon Hunt                 (Nominated Adviser and Broker) 
 (Chairman)                 Nick Harriss/Nick Naylor 
 +44 7733 337 755 
                            +44 20 3328 5656 
 Andrew Richards 
 +61 423 044 879            www.allenbycapital.com 
 www.hunter-resources.com 
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Additional Information

A copy of this announcement with mapping/location, is shown with the Hunter Resource's concessions can be viewed at www.hunter-resources.com

This information is provided by RNS

The company news service from the London Stock Exchange

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