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Canadian Gold Hunter Options Nowyak Gold Property

Jun 1, 2004 - 12:43 ET

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jun 1, 2004) - Canadian Gold Hunter Corp. (the "Company") is pleased to announce that it has signed a letter of intent with Strongbow Exploration Inc., by which the Company can earn a 70% interest in the Nowyak Gold Property located in Nunavut. The Nowyak gold property is located in the Yathkyed greenstone belt about 225 kilometres west of Arviat in the Kivalliq region of Nunavut. The property consists of six mineral claims underlying an area of 5,520 hectares (13,636 acres) and contains significant shear-hosted gold and silver-bearing quartz-carbonate veins in surface showings and float boulders associated with the Komatik Shear Zone

The gold-silver showings and mineralized float occur over a strike length of 4 kilometres. Exposure is poor and the mineralized shear has only been tested by 12 shallow holes totaling 800 metres. Highlights of the drilling and surface sampling are shown in the accompanying table.

Zone       Hole No.         Interval      Length     Gold     Silver
                               (m)          (m)      (g/t)     (g/t)
Bonanza    NL-99-01        25.15-26.70     1.55      5.44      14.1
"          NL-99-03         36.4-40.4      4.00      2.67      22.5
"          NL-99-05        62.75-64.45     1.70      9.33      33.6
"          Surface grab         -             -    117.00    1420.0

Century    NL-00-01        51.55-53.0      1.45      6.59      19.5
           Surface trench       -          2.50      9.00       9.2

The Company can earn a 70% interest in the project by spending a total of $2.0 million over 5 years. Strongbow will retain a 30% contributing interest following earn in by the Company. The first year expenditure commitment is $100,000.

"The Nowyak Lake claims cover an area underlain by numerous high-grade gold and silver-bearing boulders" commented Rick Bailes, president of the Company. "The property is intriguing because although the drilling has intersected the mineralized shear, it has not identified the source of the very high-grade float."


Richard J. Bailes, President


Canadian Gold Hunter Corp.
Sophia Shane
Corporate Development
(604) 689-7842