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Canadian Gold Hunter Corp.: Assean Lake Summer Drill Program Completed

Oct 22, 2004 - 05:14 ET


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 22, 2004) - Canadian Gold Hunter Corp. (the "Company") is pleased to report the results for all 15 holes (HT-04-162 to 176) totaling 4,496 meters drilled during the summer on the Assean Lake gold project in Manitoba. Assay summaries are shown in the table below.

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                     Depth                                          
Hole No.                (m)        Collar                   Az/Angle
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HT-04-162            50 (i)    1750E/100N   333 degrees /-45 degrees
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including     
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HT-04-163           290 (i)    1600E/030S   333 degrees /-65 degrees
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including                                                           
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HT-04-164           326 (i)    1550E/050S   333 degrees /-65 degrees
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including                                                           
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and                                                                 
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HT-04-165           320 (i)    1500E/050S   333 degrees /-65 degrees
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and                                                                 
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HT-04-166              482     1500E/100S   333 degrees /-70 degrees
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HT-04-167              226      1850E/00N   333 degrees /-58 degrees
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HT-04-168              248     1900E/030S   333 degrees /-62 degrees
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HT-04-169              314     1953E/050S   333 degrees /-65 degrees
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HT-04-170              144     2000E/015N   333 degrees /-60 degrees
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HT-04-171              253     1450E/020S   333 degrees /-54 degrees
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incl.                                                      
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HT-04-172              299     1450E/050S   333 degrees /-58 degrees
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and                                                         
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HT-04-173              359     1450E/075S   333 degrees /-63 degrees
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HT-04-174              452     1450E/100S   333 degrees /-65 degrees
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HT-04-175              500     1450E/125S   333 degrees /-67 degrees
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HT-04-176              233     2200E/070N   333 degrees /-63 degrees
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Total                4,496                                          
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                  Interval          Length           Gold           
Hole No.                (m)         (m) (i)          (g/t)      Zone
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HT-04-162      36.00-39.55             3.55          5.43       Hunt
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including      36.00-38.50              2.5          7.56           
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HT-04-163    229.22-231.65             2.43          7.98       Hunt
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including    229.22-230.76             1.54         11.48           
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HT-04-164    253.08-255.43             2.35         27.91       Hunt
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including    253.08-254.88              1.8         36.04           
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and          286.35-286.70             0.35          3.03    Hunt B?
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HT-04-165    240.00-240.50              0.5          3.74    Hunt B?
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and          244.50-245.00              0.5          2.68       Hunt
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HT-04-166     no intercept                                          
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HT-04-167      154.5-155.7              1.2          0.91       Hunt
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HT-04-168    199.00-200.00                1          0.78           
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HT-04-169    245.00-246.13             1.13          0.98           
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HT-04-170     no intercept                                          
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HT-04-171    161.26-164.80             3.54          0.64       Hunt
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incl.        161.26-162.65             1.39          1.01       Hunt
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HT-04-172    209.00-211.40              2.4          1.89       Hunt
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and          225.30-226.50              1.2          2.59     Hunt B
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HT-04-173    293.60-295.10              1.5          1.77       Hunt
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HT-04-174    412.40-413.00              0.6          1.42     Hunt B
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HT-04-175    461.35-461.90             0.55          1.59     Hunt B
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HT-04-176    183.00-185.70              2.7          1.04        BIF
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Total                                                               
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(i) Previously Reported

The Hunt Zone is a shear-hosted deposit which has been traced to date by drilling for 600 metres along strike and to a depth of over 300 metres with gold grades up to 27.2 g/t over 4.27 metres.

The BIF Zone has a potential strike length of 800 m within magnetite Banded Iron Formation (BIF) and with gold grades up to 4.26 g/t over 1.75 m (0.12 oz/t over 5.7 ft); limited drilling to date.

The last eleven holes of the summer program tested a variety of targets. HT-166 and HT-171 to 175 tested the westerly plunge of the Hunt Zone to depths up to 500 m. The Hunt Zone is displaced by a steep fault that cuts the zone at an acute angle and produces a fault window between 250 and 350 m depth (see accompanying long section). Structural measurements within the fault suggest a likely easterly offset of the Hunt Zone along the fault structure.

HT-167 to 170 tested the south east side of the Hunt Zone for parallel gold zones. HT-176 tested the BIF Zone at depth, 200 m east of the Hunt Zone.

The Assean Lake project is a 60-40 joint venture between Canadian Gold Hunter Corp. and Rare Earth Metals Corp. Gold Hunter is the operator.

Drill results and technical data have been reviewed by Jan Christoffersen, P.Eng., a Qualified Person pursuant to NI-43-101. The mineralized drill core intervals are split in the field and sent to ALS Chemex in Vancouver for analysis. The intervals containing visible gold are assayed by fire-assay procedure for metallics gold. This procedure involves pulverizing a one-kg sample and passing the prepared pulp through a 150 mesh (106 micron) screen. The +150 mesh material is analyzed in its entirety by fire assay. The -150 mesh material is homogenized and a 50-gram subsample is assayed by fire assay with gravimetric finish. The samples from sections that did not contain visible gold were fused by fire assay and analyzed by atomic absorption spectroscopy. A series of standards are routinely introduced with each batch of samples. Quality controls include preparation and analysis statistics performed to industry standards.

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 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.intlcurator.com



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