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Canadian Gold Hunter Announces First Results from North Zone at GJ Project

Aug 31, 2004 - 03:35 ET


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 31, 2004) - Canadian Gold Hunter Corp. (the "Company") is pleased to provide a further update on the summer diamond drilling program on the GJ/Kinaskan copper-gold project in northern British Columbia (please see the attached map).

The focus of the summer drilling is the Groat porphyry where copper-gold mineralization is associated with a poorly exposed elongated stock of monzodiorite, which intrudes andesite and volcaniclastic sediments. Three mineralized zones have been discovered that are associated with the Groat porphyry: the Donnelly Zone, the GJ Zone and the North Zone.

Results reported today are from the North Zone, located approximately 1.2 kilometres northeast of the Donnelly Zone which returned highly encouraging, thick copper/gold intercepts as reported on August 18, 2004.

Holes 04-05 to 04-13 tested geophysical and geochemical anomalies on the North Zone. Holes 04-05 to 04-07, 04-12 & 04-13 intersected mineralized intervals up to 138 metres in thickness (see table). Holes 04-08 to 04-10 intersected weakly mineralized material that consists of disseminated pyrite, which is very anomalous in copper and gold, averaging in excess of 200ppm copper and 200ppb gold. Hole 04-11 is not mineralized.


2004 North Zone Results
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              Hole
Drill        Depth     From       To  Interval  Copper   Gold  Silver
Hole       (metres) (metres) (metres)  (metres)      %    g/t     g/t
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04-05       166.73     15.0    108.0      93.0    0.07   0.15     0.5
---------------------------------------------------------------------
including              24.0     48.0      24.0    0.10   0.30     0.7
---------------------------------------------------------------------

---------------------------------------------------------------------
04-06       168.55     22.9    161.0     138.1    0.16   0.11     1.0
---------------------------------------------------------------------

---------------------------------------------------------------------
04-07       124.05     20.4    102.0      81.6    0.29   0.22     2.4
---------------------------------------------------------------------
including              30.0     54.0      24.0    0.52   0.40     2.5
---------------------------------------------------------------------

---------------------------------------------------------------------
04-12       162.15     12.0     60.0      48.0   0.057   0.09     0.5
---------------------------------------------------------------------
including              39.0     48.0       9.0    0.11   0.26     0.7
---------------------------------------------------------------------

---------------------------------------------------------------------
04-13       204.83    111.0    204.8      93.8    0.15   0.15     1.1
---------------------------------------------------------------------

The North Zone is part of a very large, poorly exposed sulphide system, as defined by the IP survey (see the attached map). The sulphide system covers an area about 2000 by 800 metres in extent.

Rick Bailes, President of CGH, commented, "These initial drill holes into the North Zone demonstrate that the sulphide system is anomalous in copper and gold. We are very encouraged by hole 04-07 which shows that the system can produce good grade as well. These are early days for the North Zone and much work is needed to fully assess its potential."

The GJ/Kinaskan gold/copper property consists of a large claim group covering several significant porphyry copper-gold systems as well as a number of high-grade gold vein systems.

A total of 5000 metres in 20 holes is planned for the summer diamond drill program. The remaining drill holes in the program will be primarily focused on the Donnelly Zone.

Of interest, significant gold-rich porphyry deposits that occur in the same general area as the GJ/Kinaskan Project are Red Chris; 236 million tonnes grading 0.46% copper and 0.37g/t gold, and Galore Creek; 284 million tones grading 0.67% copper and 0.35g/t gold.

Drill core was prepared and analyzed by ALS Chemex in accordance with industry standards. Drill results and technical data were reviewed by R. J. Bailes, P. Geo., a Qualified Person pursuant to NI 43-101.

CGH is engaged in gold exploration focused on its Canadian projects. The GJ drill program is one of five diamond drill programs that are planned over the summer and fall of 2004. Drilling is ongoing at the Assean Lake gold project in Manitoba and the Noomut gold project in Nunavut. Drilling will commence in the early fall on the Bob Creek and Manson Creek gold projects in B.C. The Company has a 100% interest in the GJ claims.

ON BEHALF OF THE BOARD

Richard J. Bailes, President

NOTE: Location map available from the company at the number listed below or on the company's website at http://www.canadiangoldhunter.com.


FOR FURTHER INFORMATION PLEASE CONTACT:

Canadian Gold Hunter Corp.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
Website: www.canadiangoldhunter.com



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