Mr. Rod Husband reports

CONVERTIBLE LOAN FINANCING ARRANGED

Global Hunter Corp. has arranged a $2.5-million loan to advance its Corona de Cobre project in Chile. The proceeds from the loan will be used by the company to finance project expenses and for general working capital purposes.

The loan will have a two-year term, and the loan principal 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 of six cents per principal unit. Each principal unit will be composed of 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 will bear 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 the price of five cents per interest unit. Each interest unit will be composed of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for 7.5 cents at any time until 18 months from the date of the loan advance.