SNU Sanu Resources Ltd Com Npv

Canadian Gold Hunter Corp. (TSX:CGH) ("Canadian Gold Hunter") and Sanu Resources
Ltd. (TSX VENTURE:SNU) ("Sanu") are pleased to announce that they have entered
into a definitive agreement (the "Arrangement Agreement") to effect a business
combination between the two companies pursuant to a plan of arrangement under
the Canada Business Corporations Act.


Pursuant to the Arrangement Agreement, Canadian Gold Hunter will acquire all of
the issued and outstanding shares of Sanu on the basis of 0.5725 shares of
Canadian Gold Hunter for each one Sanu share (the "Exchange Ratio"). All
outstanding Sanu options will be exchanged for replacement options of Canadian
Gold Hunter, the number and exercise price of which will be determined using the
Exchange Ratio. The transaction values the Sanu shares at $0.233 per share,
representing a 25% premium to the 20 day volume weighted average closing price
of Sanu. Upon completion of the transaction, Sanu will be a wholly-owned
subsidiary of Canadian Gold Hunter and it is estimated that Canadian Gold Hunter
will have 134,161,066 shares outstanding. Former shareholders of Sanu will hold
approximately 17.8% of the outstanding shares of Canadian Gold Hunter. The
transaction is expected to close by the end of August, 2009.


Full details of the transaction, including the terms of the Arrangement
Agreement, will be included in a management information circular which is
expected to be mailed to shareholders of Sanu on or about July 22, 2009. Sanu
plans to hold a special meeting of shareholders to approve the transaction and
related matters on or about August 17, 2009. The transaction is subject to all
requisite regulatory and court approvals as well as shareholder approval of the
transaction by at least 66 2/3% of the votes cast by Sanu shareholders present
in person or represented by proxy at the meeting.


The transaction has been approved by the board of directors of Sanu (with
interested directors abstaining) following the unanimous recommendation of a
special committee comprising Sanu's independent directors. The board of
directors of Sanu recommends that their shareholders vote in favour of the
transaction.


Benefits of the Business Combination

- Sanu brings to the transaction a strong portfolio of gold and base metal
exploration projects in Africa. Sanu's most advanced project is the Hambok
deposit in Eritrea with an NI 43-101 indicated resource (at a 0.75% zinc cutoff)
of 10.7 million tonnes grading 0.98% copper, 2.25% zinc, 6.84 g/t silver, 0.20
g/t gold containing 231.1 million pounds of copper, 530.7 million pound of zinc,
2.3 million ounces of sliver, 68.8 thousand ounces of gold. There is an
additional inferred resource (at a 0.75% zinc cutoff) of 17.0 million tonnes of
0.85% copper, 1.74% zinc, 5.89 g/t silver, 0.19 g/t gold containing, 318.5
million pounds of copper, 652.1 million pounds of zinc, 3.2 million ounces of
sliver, and 103.8 thousand ounces of gold. Please see the NI 43-101 Technical
Report on the Hambok Deposit, dated January 23, 2009 and filed at www.sedar.com
for details. Hambok is located 15 kilometres from the Bisha deposit being
developed by Nevsun Resources and the Eritrean Government. Additional projects
include carbonate-hosted copper/lead/zinc exploration in the Republic of Congo;
greenstone-hosted gold exploration in Burkina Faso; as well as volcanogenic
massive sulphide copper/zinc exploration in Eritrea.


- Canadian Gold Hunter holds a large, diversified portfolio of exploration
projects in Canada, Mexico, Argentina, Chile, Colombia and Peru. Projects range
from grass roots to advanced resource definition stage, including the Josemaria
copper/gold porphyry project with a 43-101 inferred resource of 460 million
tonnes grading 0.39% copper and 0.30 g/t gold at a 0.3% TCu cut-off, containing
3.9 billion pounds of copper and 4.4 million ounces of gold. (Please see news
release dated December 5, 2007 for complete information). Canadian Gold Hunter's
local South American exploration team has a strong track record of success
including the discovery of the Veladero gold deposit, now owned by Barrick Gold,
as well as the initial recognition and development of the Bajo de la Alumbrera
gold mine, now owned by Gold Corp., Xstrata and Yamana.


- Combining the two companies will create one of the strongest exploration
vehicles in the industry; worldwide exploration with the backing of the Lundin
Group.


In connection with the proposed business combination, Dundee Securities
Corporation provided financial advice and a fairness opinion to the special
committee of the board of directors of Sanu.


ON BEHALF OF THE BOARD OF CANADIAN GOLD HUNTER

Lukas H. Lundin, Chairman

ON BEHALF OF THE BOARD OF SANU RESOURCES LTD.

Paul Conibear, Chairman

Forward-Looking Statements

This news release contains certain forward-looking statements relating to
Canadian Gold Hunter and Sanu that includes risks and uncertainties. All
statements, other than statements of historical fact, are forward-looking
statements. When used in this news release, the words "anticipate", "will",
"believe", "estimate", "expect", "target", "plan", "may" and similar
expressions, identify forward-looking statements with respect to events that
"may" or "will" occur. Forward-looking statements are necessarily based upon a
number of assumptions and current expectations that, while considered reasonable
by Canadian Gold Hunter and Sanu as at the date on which they were made, are
inherently subject to significant uncertainties and risks. Many factors, both
known and unknown, could cause the actual results, performance or achievements
to differ materially from those expressed or implied by such forward-looking
statements. Assumptions upon which such forward-looking statements are based
include that the transaction will be completed, that all required third party
regulatory, governmental and shareholder approvals for the transaction will be
obtained and all other conditions to completion of the transaction will be
satisfied or waived. Many of these assumptions are based on factors and events
that are not within the control of Canadian Gold Hunter or Sanu and there is no
assurance they will prove to be correct. Although Canadian Gold Hunter and Sanu
have attempted to identify important factors that could cause actual actions,
events or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not
to be anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Canadian Gold Hunter and Sanu undertake no obligation to update forward-looking
statements if circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is cautioned not to
place undue reliance on forward-looking statements. Other risks are set forth in
the annual information form of Canadian Gold Hunter.

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