CHLORIDE, AZ, Nov. 26, 2012 /PRNewswire/ – Hondo Minerals Corporation (OTCBB:
HMNC) today announces that on Tuesday, November 20, 2012, Hondo
Minerals received an unsolicited offer to purchase all of the Company’s
common stock and assets. The offer as presented was for $0.62 per share
in combination of cash and in stock. The letter of intent is subject to
due diligence by both parties. Other requirements of the letter of
intent included:

• Hondo Minerals complete a 43-101 reserve report relating to the minerals
  at the Tennessee Schuykill Mine property in Chloride, Arizona which is
  to be prepared and issued by an independent third party.
• Verification of the E-Leach technology as a process relating to the
  leaching of precious metals.
• Verification of the status of rights regarding patents covering the
  leaching process.

The Company’s Board of Directors approved a Letter of Intent (“LOI”).
The parties will negotiate the terms and prepare the Definitive
Agreements that will govern the proposed purchase and agree to use all
reasonable efforts to complete the foregoing within the next 120 days.

Bill Miertschin, CEO of Hondo Minerals says, “Other companies and
industry professionals are now recognizing the value of our properties,
our resources, our equipment and our facilities, as well as our
technology and our processes. The path of Hondo Minerals is to
independently verify and professionally categorize our assets and our
technology. While this process takes place we will continue look to
stream line operations, analyze and improve our process and generate
additional income from the sale of precious and non-precious metals.”

About Hondo Minerals

Hondo Minerals Corporation is engaged in the acquisition of mines,
mining claims and mining real estate in the United States, Canada and
Mexico 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