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Information posted is accurate at the time of posting, but may be superseded by subsequent press releases.

Canadian Gold Hunter Corp.: Non-Brokered Private Placement Closed

May 21, 2004 - 12:27 ET


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 21, 2004) - (CGH - TSX) ... Canadian Gold Hunter Corp. (the "Company") is pleased to report that the non-brokered private placement announced on April 20, 2004 has closed.

The Company sold, on a private placement basis, 440,000 Flow-Through Common Shares at a price of $1.25 per share for gross proceeds of $550,000. Dundee Securities Corporation received a finder's fee of $25,500 in connection with the private placement.

The gross proceeds of the Flow-Through Shares shall be used for the exploration of the Company's current Canadian exploration projects. The Company will use its best efforts to ensure that the exploration expenditures qualify for the investment expenditure credits for purposes of the Income Tax Act (Canada).

The Company has received regulatory approval and the securities have been issued the investors.

ON BEHALF OF THE BOARD

Richard J. Bailes, President


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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