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Canadian Gold Hunter Corp.: Private Placement Increased

Apr 20, 2004 - 11:29 ET


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Apr 20, 2004) - (CGH - TSX) ... Canadian Gold Hunter Corp. (the "Company") reports that it has agreed to increase the private placement of Flow-Through Common Shares as announced on April 7, 2004 by up to an additional 600,000 shares for gross proceeds of up to Cdn $750,000. This additional private placement is non-brokered. All other terms and conditions remain the same.

An aggregate of up to 3.1 million Flow-Through Common Shares will now be sold at a price of $1.25 per share and up to 750,000 Units (Non Flow Through) at a price of $1.25 per Unit for total gross proceeds of up to $4,812,500. Each Unit will comprise one Common Share and one-half of a Share Purchase Warrant. Each whole Warrant is exercisable into one Common Share over a period of 18 months at a price of $1.50 per share. In the event that the Common Shares trade at an average price above $1.75 for a period of 10 consecutive trading days at any time after the Closing Date, then the warrants shall expire 30 days from such event.

The private placement is subject to regulatory approval.

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 gross proceeds of the Units will be used for general working capital purposes.

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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