Mr. Rod Husband reports

CONVERTIBLE LOAN FINANCING COMPLETED

Global Hunter Corp. has completed the $2.5-million convertible loan financing described in its Stockwatch news release dated Oct. 12, 2010.

The loan has a two-year term, and the loan principal is convertible at the option of the lender in whole or in part into units of the company until 18 months from the date of the loan advance at the price of six cents per principal unit. Each principal unit will comprise one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for 10 cents at any time until 18 months from the date of the loan advance. The loan bears interest at the rate of 12 per cent per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into units of the company until 18 months from the date of the loan advance at a price per interest unit equal to the market price at the time of settlement, subject to acceptance by the TSX Venture Exchange. Each interest unit will comprise one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share at a price per share equal to 150 per cent of the market price at the time of issue of the interest units, subject to a minimum exercise price of 10 cents, at any time until 18 months from the date of the loan advance.

The lender is at arm's length from the company and will not become an insider as a result of any conversion of principal and interest. The loan principal and accrued interest will be secured by a pledge of the shares of the company's subsidiary, Global Hunter Chile Ltda., and may be repaid without penalty or bonus on 30 days notice. All shares issued on any conversion of loan principal or interest, and any shares issued pursuant to the exercise of any warrants issued pursuant to any such conversion, will be subject to a four-month hold period expiring on Feb. 22, 2011. A finder's fee equal to 6 per cent of the loan proceeds will be paid in cash as permitted by policies of the TSX Venture Exchange and applicable securities laws. The TSX Venture Exchange accepted the company's filing in respect of the loan arrangement on Oct. 22, 2010.

We seek Safe Harbor.