Hunt Mining (the Corporation or Hunt) (TSX-V:HMX) is pleased to announce it has extended an offtake agreement (Agreement) with Ocean Partners USA, (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 19thof 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 1,737km sq. (429,407 acres).
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