Gold Hunter Resources Completes the Sale of Certain Properties to Sorrento Resources

Vancouver, British Columbia--(Newsfile Corp. - June 14, 2023) - Gold Hunter Resources Inc. (CSE: HUNT) ("Gold Hunter" or the "Company") is pleased to announce, further to its press release on June 6, 2023, the completion of the sale to Sorrento Resources Ltd. ("Sorrento") of a 100% interest in a portion of its claims comprising the PEG Lithium property, Harmsworth and Tom Joe properties, as well as three properties along the Doucers Valley Fault, all located in the Province of Newfoundland and Labrador (the "Property").

The Company has received full consideration for the sale comprising $50,000 and 1,000,000 common shares of Sorrento. These shares are subject to a statutory hold period expiring October 14, 2023.

Sorrento has also granted a 1% net smelter returns royalty to the Company (the "Gold Hunter NSR"). The Property is also subject to a 2% net smelter returns royalty held by Fair Haven Resources Inc. (the "Fair Haven NSR"). The Fair Haven NSR is subject to the right to buy back 50% of the NSR at any time for $1,000,000. Sorrento will also have the right to buy back 50% of the Gold Hunter NSR at any time for $1,000,000.

Both the Fair Haven NSR and Gold Hunter NSR are subject to rights of first refusal in favor of Sorrento in connection with any proposed sale or transfer of such royalty.

Gold Hunter CEO, Rich Macey commented, "We are very pleased to have completed the sale to Sorrento and will be looking forward to Sorrento's future exploration and development of the Property."

About the Company

The Company is engaged in acquisition, exploration, and development of mineral property assets in Canada. The Company's objective is to locate and develop economic precious and base metal properties of merit. In January 2022 Gold Hunter acquired 8 additional properties in Newfoundland which amount to 580 claims for 14,500 ha (See January 25^th 2022 New Release here). The acquisition included the Rambler and Tilt Cove projects which are located adjacent to known productive VHMS deposits located on the Baie Verte Peninsula, Newfoundland.

For more information, please refer to the Company's Prospectus dated January 21, 2021 available on SEDAR (www.sedar.com), under the Company's profile.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard Macey, President, Chief Executive
Officer and Director
Tel +1 (604) 537-4174
rich.macey@yahoo.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Gold Hunter Resources Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Gold Hunter Resources Inc.'s management on the date the statements are made. Except as required by law, Gold Hunter Resources Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169916