NGEx Resources Inc.
The NGEx District

South America's Biggest New Copper-Gold Camp




Information posted is accurate at the time of posting, but may be superseded by subsequent press releases.

Canadian Gold Hunter Intersects 80.8 Metres Grading 1.23 g/t Gold and 89.9 Metres Grading 1.11 g/t Gold at Caballo Blanco, Mexico

Jun 5, 2008 - 09:12 ET
View News Release in PDF Format

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2008) - Canadian Gold Hunter Corp. (TSX:CGH) (the "Company") is pleased to report additional gold assays from the Caballo Blanco project in Veracruz, Mexico. On the Cerro la Paila target, core hole 08CBN-008 intersected 80.8 metres grading 1.23 g/t Au (grams gold per metric ton) in complex iron-oxide-cemented, vuggy silica breccias. The hole was abandoned in bad ground in vuggy silica breccia at 213.66 meters. The last 20.11 meters of the hole grades 0.90 g/t Au.

Hole 08CBN-009 was drilled to a depth of 135.03 meters, where the hole was abandoned due to a total loss of circulation in cavernous vuggy silica breccias. The bottom 16.77 meters of the hole assayed 1.35 g/t gold, with the last two assays (3.05 m.) averaging 2.35 g/t Au.

Hole 08CBN-011 was drilled to a depth of 189.89 metres, where the hole was abandoned due to loss of circulation in vuggy silica breccia. The last 89.92 metres grades 1.11 g/t gold despite having two 3.05 metre intervals with no recovery that were given a gold grade of zero. Holes CBN-008, 009 and 011 encountered clay-altered andesitic volcanic rocks above the vuggy silica breccias that host the gold at Cerro la Paila.

Significant assay results for 07CBN-006 to 011 are listed in the table below.

Drill           Az/Angle    Depth        Interval     Width     Au     Ag
 Hole                          (m)         (m)(ii)   (m)(ii)   g/t    g/t

            090 degrees/
08CBN-006    -50 degrees   173.20     38.00-48.77     10.77   0.03  425.7
            090 degrees/
08CBN-007    -70 degrees   187.45    No significant intersections
08CBN-008   090 degrees/
 (i)         -50 degrees   213.66    54.86-213.66    158.80   0.85    2.3
including                            54.86-135.64     80.78   1.23    3.5
including                             54.86-74.68     19.82   2.26    3.3
   and                              193.55-213.66     20.11   0.90    1.0
08CBN-009   090 degrees/
 (i)         -50 degrees   135.03    84.73-135.03     50.30   0.66    5.9
including                           118.26-135.03     16.77   1.35    7.1
08CBN-010   090 degrees/
 (i)         -70 degrees    22.25    No significant intersections
08CBN-011   270 degrees/
 (i)         -60 degrees   189.89    99.97-189.89     89.92   1.11    1.4
including                           101.49-116.73     15.24   2.07    1.8
 including                          144.17-177.70     33.53   1.45    1.9

Notes: (i) Hole lost above planned target depth.
      (ii) Intervals are core lengths and true widths may be less than
           reported here.

Core holes 08CBN-006 and 007 were drilled entirely within clay-altered andesitic volcanic rocks at the northern end of Cerro la Paila (see accompanying map). Gold grades are low in both holes but CBN-006 intersected 10.77 meters of 425.7 g/t Ag (12.4 ounces/short ton silver). It appears that locally high silver grades define the margins of the gold-dominant system at Cerro la Paila. Hole 08CBN-010 was drilled from the same location as holes 009 & 011 but was abandoned at 22.25 metres in clay-altered andesite.

Rick Bailes, President, stated, "I continue to be very impressed with the assay results from Caballo Blanco. The collars of drill holes CBN-008 and 009/011 are separated by 200 metres and support the growing sense of good gold-grade continuity for at least 400 metres over the length of the northern portion of the large Cerro la Paila mineralized system. In addition, the bottom of holes 009 and 011 are 180 metres apart. All three holes were lost in well-mineralized rocks above their target depths and will require follow-up drilling once this initial phase of the program is completed. We are also encouraged by the fact that drill holes completed and in progress to the south of 08CBN-009 & 011 continue to intersect significant intervals of iron-oxide--cemented, vuggy silica breccias for at least another 200 metres."

Two core rigs continue to drill the Cerro la Paila gold zone, which is targeted by a strong resistivity anomaly 800-900 meters in length and up to 450 metres wide. The current program will focus on testing the anomaly along E-W sections at 100-metre N-S intervals. Detailed in-fill drilling will be undertaken after the full length of the la Paila gold zone has been explored by wide-spaced holes.

The Company can earn a 70 per cent interest in the Caballo Blanco project from Almaden Minerals Ltd. by spending US$12 million over a period of six years.

The geological data in this news release were verified by qualified person Jan Christoffersen, P. Eng., Vice President of Canadian Gold Hunter Corp. Appropriate quality control and quality assurance protocols are utilized on the program. Standard reference samples and various duplicates are inserted in each batch of assays. Drill core samples are cut by saw on site and sample splits are shipped for preparation to ALS Chemex in Guadalajara, Mexico. Sample pulps are sent to ALS Chemex in North Vancouver, B.C., Canada and analyzed for gold by fire assay and for silver and 34 other trace and major elements by ICP-MS in accordance with standard industry practices.


Richard J. Bailes, President

To view the map associated with this press release, please visit the following link:


Canadian Gold Hunter Corp.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)