Hondo Minerals Receives a Second Unsolicited Offer to Purchase All of Its Common Stock and Assets

CHLORIDE, AZ, Dec. 11, 2012 /PRNewswire/ – Hondo Minerals Corporation (OTCBB:
HMNC) today announces that on Monday, December 11, 2012, Hondo Minerals
received a second unsolicited offer from a private investment group to
purchase all of the Companies common stock and assets. The offer as
presented was for $75 million in cash. The letter of intent is subject
to due diligence by both parties.

The Companies Board of Directors has authorized Hondo’s CEO, and CFO, to
oversee due diligence, terms, and the preparation of the Definitive
Agreements that will govern the proposed transaction. Both parties will
use all reasonable efforts to complete the foregoing within the next 60
days.

Bill Miertschin, CEO of Hondo Minerals says, “Hondo is excited that it
has received a second unsolicited offer which we are announcing in
accordance with regulatory rules.  We look forward to beginning the due
diligence process and communicating with our shareholders as news
develops.”     

About Hondo Minerals

Hondo Minerals Corporation is engaged in the acquisition of mines,
mining claims and mining real estate in the United States with mineral
reserves of precious metals or non-ferrous metals. Hondo owns the
Tennessee and Schuylkill Mines in Chloride, Arizona.  The Tennessee
Mine operated from the late 1800s until 1947 producing lead, zinc, gold
and silver. The Company also owns numerous other mining claims in the
U.S. Southwest.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that involve
risks and uncertainties, including the Company’s beliefs about its
business prospects and future results of operations. The company will
file a 14d with the SEC. Some factors that could cause actual results
to differ materially include economic and operational risks, changes in
anticipated earnings, continuation of current contracts, and other
factors detailed in the Company’s filings with the Securities and
Exchange Commission, including its most recent Forms 10-K and 10-Q. The
Company forecasts provided above are dynamic and therefore refer only
to this release date. The Company does not undertake to update any
forecasts that it may make available to the investing public.

SOURCE Hondo Minerals Corporation