Huntsman Exploration Inc. Completes Financings, Key Acquisitions; Moves Forward With Large Scale Gold And Nickel Projects

VANCOUVER - Huntsman Exploration Inc. reported that it has successfully completed private placements for gross proceeds of $6,019,000. The Company has acquired two key gold projects - the intermediate stage Baxter Spring project in Nevada, and the Flint project in the re-emerging Flint gold camp in Idaho. The technical team is now in the process of planning work programs for both projects. The Flint project acquisition is subject to TSX Venture acceptance. Permitting process has commenced for an 18-hole (3,160 m) drill program at the Canegrass high-grade nickel project in Western Australia. Work is expected to commence shortly after the permit has been received and will follow up the strong success of the prior drill program.

Peter Dickie, President and CEO, said, "With a strong treasury and a diversified portfolio that includes high quality gold and nickel projects, Huntsman is well positioned for 2021. The Company has been very active at a corporate level with the recent financing and acquisitions, and we are now looking forward to a series of highly targeted exploration programs as we move through the next twelve months."

Baxter Spring is a historically explored property in an area of Nevada that has demonstrated substantial gold endowment. Nearby projects include the historic Manhattan mining camp and the current Round Mountain project. Previous work on Baxter Spring has produced both high grade intervals in drilling (eg. BX-13: 8.81 g/t over 7.6m) in addition to several intervals of moderate grade, over substantial widths (BSC-1: 0.71 g/ Au over 69.04m). Numerous areas of the property have indicated geochemical targets that have not been fully explored, and a number of areas have not seen any exploration to date.

The Flint project represents an opportunity to apply modern exploration techniques with the goal of defining bulk-mineable gold and silver mineralization near already defined high-grade silver-gold veins. It is a large, underexplored land package in a similar geological setting to the nearby DeLamar Deposit operated by Integra Resources (TSXV - ITR). Located approximately 1.2 km north of the Flint property, Integra's property includes the Delamar and Florida Mountain deposits, which host 2.4 Moz Au, and 116.5 Moz Ag Measured and Indicated Resources in published reports2, in addition to a third discovery, the War Eagle deposit, being actively explored. Historical production at the Flint Mining Camp was reported from two veins, which are currently on private land (not in the Agreement) in the core of the Property and totaled more than 1.5 million ounces of silver. Due to the antiquity of the development, few records remain. Generally, the veins have been described as containing 20 to 30 ounces per ton of silver (686 to 1,029 g/t silver), with gold values between 0.04 and 0.1 ounces per ton gold (1.25 to 3.13 g/t gold).