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Canadian Gold Hunter Corp.: Initial 2004 Winter Drill Results Confirm Continuity of Gold in Hunt Zone on Assean Lake Project, Manitoba

Mar 26, 2004 - 11:14 ET


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Mar 26, 2004) - Canadian Gold Hunter Corp. (the "Company") is pleased to report initial assay results from drilling on the Hunt Zone on the Company's Assean Lake shear-hosted gold project in north-central Manitoba. Approximately 3,500 meters have been completed so far of the planned 4,100-meter program of BQ diamond drilling on the Hunt Zone and several reconnaissance targets on the north shore of Assean Lake.

The drill program has significantly extended the high grade Hunt Zone to depth and to the west. The Zone remains open in both directions and the plunge of the high-grade core is flattening to the west, which means that future drilling should intersect the zone at shallower depths than originally anticipated. In addition, the current drill program has resolved the geometry of a deep fault structure allowing for a greater understanding of the deposit. Please see the attached long section.

Assays for the first four holes in the Hunt Zone are presented in the table below. True widths are 80% to 85% of the reported lengths.

Hole No.    Collar     Azimuth/Angle     Interval    Length   Gold
                         (degrees)         (m)        (m)     (g/t)

HT-04-137   1650E/057S    333/-62     252.70-257.60   4.90    1.88
 includes                             254.60-256.10   1.50    4.35
HT-04-138   1600E/053S    333/-65     259.65-263.40   3.75    7.14
 includes                             262.00-263.40   1.40   13.48
HT-04-139   1700E/088S    333/-63     284.60-286.70   2.10    0.42
HT-04-143   1600E/100S    333/-65     307.00-312.90   5.90    3.04

Assays are pending on three additional holes, HT-147, 151 and 155, which were drilled to the west and higher in the Hunt Zone section to further test the extent of the zone. Two final holes, HT-158 and 161, in progress will conclude the winter program on the Hunt Zone.

"We are very pleased with the results and look forward to continued success in expanding the Hunt Zone, commented Richard Bailes, President of the Company, "The Hunt Zone shows excellent continuity and has the potential to be a significant new gold deposit in the prolific Canadian Shield - the most productive shear-hosted terrain in the world."

The Assean Lake Project is a 60/40 joint venture between Canadian Gold Hunter and Rare Earth Metals Corp.

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 http://www.canadiangoldhunter.com


FOR FURTHER INFORMATION PLEASE CONTACT:

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



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