HuntMountain Resources (HNTM) 8-K HuntMountain’s Sierra Madre Exploration Returns High-Grade Silver, Base Metals Results

Exhibit 99.2

September 30, 2008	Contact: Steve Taylor
FOR IMMEDIATE RELEASE	(509) 892-5287
Press Release 08-16

HuntMountain Releases New High-Grade Assays from La Josefina Gold-Silver Project

(SPOKANE, WA)  HuntMountain Resources Ltd. (OTCBB: HNTM) (Frankfurt: MPT) released additional high-grade assays from its 25,000-meter diamond core drilling program at the La Josefina gold-silver project in Santa Cruz Province, Argentina.  The latest results included 2.0 meters (6.6 feet) of 13.94 grams/tonne (g/t) (0.41 ounces/ton)(oz/t) gold equivalent* consisting of 13.46 g/t (0.39 oz/t) gold and 31.8 g/t (0.93 oz/t) silver and 0.77% copper in Hole# SVN-D08-089. The exploration program, now in its twelfth month, has focused on drill-testing targets previously identified by Fomicruz S.E. along a 10-kilometer long hydrothermal alteration belt that hosts multiple precious metal occurrences.  The Company has aggressively drilled in three of four known mineralized zones – Veta Norte, Noreste (Sinter), and Central. Additional significant values include:

HOLE	From	To	Interval	Gold	Silver	Gold Equiv.*	Cu	Pb	Zn
#	(m)	(m)	(m)	g/t	g/t	g/t	%	%	%
SVN-D08-057	151.1	151.6	0.50	6.4	242	10.07	3.68	1.41	0.53
SVN-D08-098	50.6	51.6	1.0	13.2	20.9	13.52	0.07	0.54	Nil
and	56.4	57.4	1.0	8.37	7.3	8.48	0.05	0.06	Nil
SVN-D08-099	54.3	55.5	1.2	7.67	25.6	8.06	0.26	0.05	0.01
SVN-D08-101	30.3	32.7	2.4	6.78	42.7	7.43	0.04	0.20	0.02
including	30.3	30.95	0.92	15.55	72.7	16.65	0.07	0.23	0.02

“Progress continues at La Josefina, and we are pleased with the consistency of high-grade results from the Veta Norte zone,” said Matt Hughes, Executive Vice President and COO.  “Step out and infill drilling of the Veta Amanda-Veta Sur vein system will continue over the next several months with the subsequent results supplementing our resource calculation efforts this fall.  The system remains open at depth and along strike to the south, and every hole we drill has the potential of increasing a gold and silver resource.”

The La Josefina Gold-Silver Project is located in the north-central portion of Santa Cruz Province in Patagonia’s highly-prospective Deseado Massif and comprises an area of over 52,770 hectares. The property encompasses multiple precious metal occurrences within a 10 km-long hydrothermal alteration belt that is 1-3 km wide.  The region hosts numerous precious metal mines in production and deposits under development.  HuntMountain entered into a partnership agreement with Fomicruz S.E., the provincial mining company, to earn a 91% interest upon completion of a positive feasibility study.

Certified sample preparation, gold and silver fire assay, and 28 element ICP analysis were carried out by ALS Chemex in Mendoza, Argentina and La Serena, Chile.

A complete table of drill results can be obtained at www.huntmountain.com on the La Josefina project page and within the Technical Report.  The most recent assays greater than 1 g/t gold, 1% copper, or 3% lead or zinc are included in the table below:

HOLE NUMBER	From (m)		To (m)		Interval (m)		Au g/t		Ag g/t		Cu %		Pb %		Zn %
VETA AMANDA
SVN-D08-057**		150.1		150.6		0.50		1.065		78		0.71		0.02		0.03
		151.11		151.64		0.53		6.4		242		3.68		14.1		0.53
SVN-D08-077		57		58.09		1.09		1.405		17		0.03		2.69		0.08
		84.73		85.03		0.30		1.19		105		0.80		0.30		0.13
		85.03		85.43		0.40		1.845		49.7		0.58		0.03		0.05
		103.4		103.8		0.40		1.52		85		0.63		1.37		1.63
SVN-D08-088		225.52		226.4		0.88		1.265		11.4		0.07		0.06		0.11
SVN-D08-089		73		74		1.00		4.08		21.6		1.24		0.06		0.01
		74		75		1.00		2.15		13.4		0.50		0.08		0.01
		78		79		1.00		17.65		55.5		1.54		0.11		0.04
		79		80		1.00		9.27		8.1	Nil			0.06		0.05
SVN-D08-090		83.03		83.6		0.57		6.32		145		3.50		0.13		0.25
SVN-D08-098		33.4		33.85		0.45		3.53		1	Nil			0.03		0.02
		50.56		51.18		0.62		15.3		10		0.04		0.64	Nil
		51.18		51.6		0.42		10.1		36.9		0.11		0.39	Nil
		56.4		56.9		0.5		6.68		4.7		0.04		0.09	Nil
		56.9		57.4		0.5		10.35		10.1		0.07		0.03	Nil
		91.2		91.55		0.35		1.435		0.5		0.02		0.07		0.07
SVN-D08-099		52.28		53.25		0.97		0.889		45.7		0.39		0.15		0.01
		54.33		54.83		0.50		12.55		31.1		0.54		0.03	Nil
		54.83		55.47		0.64		3.86		21.3		0.05		0.06		0.01
		63		63.45		0.45		3.75		30.1		0.03		0.12		0.01
		63.45		64		0.55		1.545		75		0.03		0.11	Nil
SVN-D08-101		14.8		15.25		0.45		2.37		16		0.02		0.11	Nil
		21.19		21.74		0.55		1.845		4.7		0.02		0.04	Nil
		30.3		30.95		0.65		15.55		72.7		0.07		0.23		0.02
		30.95		31.76		0.81		5.87		44.4		0.04		0.21		0.01
		31.76		32.7		0.94		1.495		20.6		0.03		0.16		0.02
SVN-D08-102		29.5		30		0.5		1.4		20		0.73		0.03	Nil
		31.15		32		0.85		7.84		33.4		0.58		1.04	Nil
		32		33.6		1.6		1.045		4		0.02		0.36	Nil
HOLE NUMBER	From (m)		To (m)		Interval (m)		Au g/t		Ag g/t		Cu %		Pb %		Zn %
SVN-D08-102		33.6		34		0.4		2.64		6.7		0.02		0.11	Nil
(cont’d)		34		35		1		3.81		5.3		0.02		0.07	Nil
		39.7		40.55		0.85		1.235		15.7		0.02		0.11		0.01
		55.5		55.85		0.35		14.8		80.4		3.47		0.08	Nil
		57.4		57.85		0.45		2.01		4.6		0.07		0.06	Nil
CENTRAL
SC-D08-043		55.4		55.8		0.4		1.86		7.9		0.30		0.21		0.05
SC-D08-044		93.8		94.45		0.65		1.095		22		0.05		0.68		0.10
		94.45		95.25		0.8		5.75		21.9		0.08		2.32		0.07
SC-D08-053		12.5		13		0.5		1.555		1.9	Nil			0.03		0.04
SC-D08-062		75.07		75.6		0.53		0.12		33.2		0.18		3.21		0.11
		75.6		76.23		0.63		1.325		64.1		0.78		11.1		0.32

*Gold equivalent grade was calculated by dividing the silver assay result by 65.95 and adding it to the gold value. Gold and silver values reflect prices on 9/26/2008.  Troy ounces/short ton was calculated by dividing grams by 34.29 and rounding to 2 decimal places. Interval calculations are based on a weighted average using a 1.00 g/t cutoff value.

**Additional assay interval from previously reported drill hole.

HuntMountain Resources Ltd. is a U.S.-based junior exploration company engaged in acquiring, exploring and developing precious and base metals properties throughout North and South America. The Company currently controls and operates projects in Santa Cruz Argentina, Chihuahua Mexico, Nevada USA, and Quebec Canada.

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not even be anticipated. This news release is neither a prospectus nor an offer to sell securities or stocks in the company. It is intended for informational purposes only.

FOR FURTHER INFORMATION PLEASE CONTACT:

Steve Taylor, Vice President of Corporate Development

HuntMountain Resources

(509) 892-5287

staylor@huntmountain.com

www.huntmountain.com