October 12th, 2010

NEWS RELEASE

CONVERTIBLE LOAN FINANCING ARRANGED

Vancouver, B.C. – October 12th, 2010 – Global Hunter Corp. (the “Company”) (TSX.V: BOB.V) has arranged a $2,500,000 loan to advance its Corona de Cobre project in Chile. The proceeds from the loan will be used by the Company to fund project expenses and for general working capital purposes.

The loan will have a two year term and loan principal will be convertible at the option of the lender in whole or in part into units (“Principal Units”) of the Company until eighteen months from the date of the loan advance at the price of $0.06 per Principal Unit. Each Principal Unit will be comprised 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 $0.10 at any time until eighteen months from the date of the loan advance. The loan will bear interest at the rate of 12% 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 (“Interest Units”) of the Company until eighteen months from the date of the loan advance at the price of $0.05 per Interest Unit. Each Interest Unit will be comprised 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 $0.075 at any time until eighteen 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 day’s notice. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. A finder’s fee equal to 6% of the loan proceeds will be paid in cash as permitted by policies of the TSX Venture Exchange and applicable securities laws. The loan is subject to acceptance by the TSX Venture Exchange.

On behalf of the Board of Directors,

Rod Husband

Rod Husband

President & CEO, Global Hunter Corp.

Contact:

Investor Relations: (604) 681-4653 or 1-866-282-8398

Email: info@globalhunter.ca or visit our Website: www.globalhunter.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.