Hunter Bay Minerals Closes Final Tranche of Previously Announced $1.25 Million Financing

LONDON, UNITED KINGDOM -- (Marketwired) -- 04/10/13 -- Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE: HBY)(OTCQX: HTBNF) is pleased to announce that it has closed the final tranche of its private placement financing announced on January 3, 2013 and March 19, 2013 by issuing to Sumin Resources Limited ("Sumin") 1,430,000 units at a price of $0.10 per unit for gross proceeds of $143,000. Each unit consists of one ordinary share ("Share") and one share purchase warrant ("Warrant"), with each Warrant entitling the holder to acquire one additional Share at a price of $0.10 per Share until October 10, 2013. The securities issued will be subject to a hold period expiring on August 11, 2013 pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.

Under the private placement financing, Hunter Bay raised total gross proceeds of $1.25 Million by issuing a total of 12,500,000 units. Hunter Bay also issued finders a total of 607,000 non-transferable Warrants. Each finder's warrant entitles the holder to purchase one Share at a price of $0.10 per Share until April 10, 2015.

Each of Derk Hartman and Oscar Louzada are directors of Hunter Bay and Sumin. As Sumin purchased a total of 6,430,000 units under the private placement, the issuances to Sumin is considered to be a related party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. Hunter Bay has relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by Sumin did not exceed 25% of the fair market value of Hunter Bay's market capitalization.

Proceeds will be used to fund Hunter Bay's exploration program on its Sela Creek Project as well as for general working capital and corporate purposes.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of Hunter Bay's securities in the United States.

About Hunter Bay

Hunter Bay is engaged in the acquisition, exploration and development of mineral resource properties located in South America and Canada. Hunter Bay's lead project is the Sela Creek Project, located in Suriname, which Hunter Bay has an option to acquire up to an eighty percent (80%) interest. Hunter Bay also owns a one-hundred percent (100%) interest in the Great Bear Lake Properties located in the eastern side of Great Bear Lake NWT.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Hunter Bay cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hunter Bay's control. Such factors include, among other things: risks and uncertainties relating to Hunter Bay's ability to complete its proposed exploration program on the Sela Creek Project. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hunter Bay undertakes no obligation to publicly update or revise forward-looking information.

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.

Contacts:

Hunter Bay Minerals plc

Christopher Wilson

CEO and President

(+44) 207-127-9125

Bridge House, London Bridge

London, England SE1 9QR