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HNTM News HuntMountain Resources is Drilling in Argentina!

SPOKANE, Wash.--(BUSINESS WIRE)--HuntMountain Resources (OTCBB:HNTM) is pleased to announce the commencement of a 1,500-meter HQ diamond core drilling program at its wholly-owned El Gateado gold and silver property in Santa Cruz province, Argentina. Fifteen HQ diamond core holes are planned for Phase I, targeting several zones with sheeted quartz veins and stock-work vein swarms hosted in a Jurassic age volcanic breccia. This season, HuntMountain crews working at El Gateado constructed detailed geologic maps and collected more than 400 channel samples across an area of hydrothermal alteration measuring more than two square kilometers. Target definition channel sampling revealed strong gold anomalies, assaying up to 14 grams per ton.

Drilling at El Gateado is being conducted by Patagonia Drill of Mendoza. Core samples will be processed and assayed by ALS Chemex in Mendoza and Santiago.

The El Gateado mineral concession, or “cateo”, covers and area of 100 square kilometers and is one of four properties that HuntMountain, through its wholly-owned subsidiary, Cerro Cazador S.A., claimed in Santa Cruz Argentina during 2006. The company’s total property package covers approximately 400 square kilometers and includes the cateos: El Gateado, El Overo, El Alazan, and El Tordillo.

“I’m thrilled that the HuntMountain team has reached another milestone on our road to discovery,” said President Randal Hardy. “The drilling program at El Gateado is another indication of the exceptional progress the company has made during our first full year of exploration. Our geologic management team, with more than 20 years of combined exploration experience in Santa Cruz, has previously discovered a number of important precious metal deposits, including the now producing Mina Martha. It’s clear that our experience, knowledge, and relationships developed in Argentina have given HuntMountain a competitive advantage over the multitude of exploration companies trying to get a foot hold in the region.”

Dun Glen, Nevada Drilling Update

Phase I drilling at our Dun Glen property has been temporarily suspended due to winter weather and will resume when conditions allow. Four HQ diamond core holes were completed this season for a total of 3,645 feet. Assay results for the drilling completed this season are expected in early 2007.

HuntMountain Resources is a U.S.-based junior exploration company engaged in acquiring, exploring and developing precious metal properties throughout North and South America. The Company is currently exploring prospective gold properties in Nevada, Québec, and Santa Cruz Province, Argentina.

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not even be anticipated. This news release is neither a prospectus nor an offer to sell securities or stocks in the company. It is intended for informational purposes only.