| | Published : July 27th, 2009 | Hawk Proceeding with Initial |
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Hawk Proceeding
with Initial Payment to Acquire Sonora, Mexico Property
Toronto, July 27,
2009 – Hawk Uranium Inc. (TSX-V:HUI, FRANKFURT:HPM) (Hawk) has
completed a rock chip sampling program on the San Bernardo, Sonora, Mexico
claims that it agreed to evaluate under its previously announced Letter of
Agreement regarding that property (see previous news
release of June 1, 2009). Hawk is pleased to announce that it will now
proceed with the initial payment in order to acquire a 100% interest in the
property.
Pursuant to a letter agreement dated May 22, 2009, Hawk has the right to
acquire, from San Bernardo, an unencumbered 100% interest in the mining claims
referred to as Raquel 2 �9,451.575
hectares, La Dura 8 �100 hectares, La
Dura 8 109 hectares, La Dura 5 90 hectares, La Dura 5 �500 hectares, located in the municipality of Alamos,
Sonora, Mexico (the Sonora Claims).
Further to the investigations conducted by Hawk, it was determined that one
additional mining concession should be included in, and form part of, the
Sonora Claims, namely Raquel 1 205.84 hectares.
Subject to any required TSX Venture Exchange approval, Hawk will� as the initial payment �issue 5,000,000 of its common shares on or
before July 31, 2009.
The balance of the payments required from Hawk in order for it to have
acquired and own 100% of the Sonora Claims are:
a) on or before 6 months following the closing, 5,000,000 shares; and
b) on or before 12 months following the closing, 5,000,000 shares.
Hawk has completed an initial sampling program of collecting and analyzing
rock-chip samples from the Sonora Claims. The samples were sent to Jacobs
Labs in Tucson, Arizona with pulps sent to IPL in Vancouver, B.C. for
analysis. The results are being incorporated in a NI 43-101 Report being
prepared by Mr. Tor Bruland, P.Geo. (B.C.) that will be filed on SEDAR
within 45 days.
The initial recommendations are for a follow-up work program of US$ 176,000
to include:
1) a 400 rock sampling program;
2) a 2,100 soil sample geochemical program;
3) a complete geological mapping of the area.
About the Sonora Claims
The Sonora Claims are located in the western foothills of the Sierra Madre
Occidental, approximately 30 kilometers North-Northwest of the town of
Alamos, in Sonora, Mexico. The project area is confined to the Eastern side
of the Rio Mayo and extends East and West beyond the local municipality of
San Bernardo, Sonora.
The Alamos area mining district of Mexico is internationally renowned for
its multi-metalic mining properties containing gold, silver, copper, lead,
zinc, graphite and tungsten mineralization. Mining records show that this
area was first developed by the Spanish in the 16th century.
The acquisition of the Sonora claims is a continuation of Hawk�s strategic
plan to build a diversified portfolio of properties with high potential for
near term resources and potential cash flow.
About Hawk Uranium Inc.:
Hawk Uranium Inc. is a Canadian based junior mining company with a
portfolio of diversified exploration projects, in addition to the Sonora,
Mexico claims that are at various stages of exploration and drilling, for
Gold in N. Ontario, Uranium in N. Saskatchewan, Ontario and Quebec, and
Nickel/Copper/PGM in the Ring of Fire McFauld�s Lake Area of N. Ontario.
More detailed information is available on the website at
www.hawkuranium.com.
Michael Newbury P.Eng., a qualified person as such term is defined by National Instrument 43-101 and a
director of Hawk, has reviewed the preliminary metallurgical results and
has otherwise reviewed and approved the technical information in this
news release on behalf of Hawk.
Cautionary Statement:
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. No stock
exchange, securities commission or other regulatory authority has approved
or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating
to the future performance of Hawk Uranium Inc. Forward-looking statements,
specifically those concerning future performance, are subject to certain
risks and uncertainties, and actual results may differ materially from
Hawk's plans and expectations. These plans, expectations, risks and
uncertainties are detailed herein and from time to time in the filings made
by Hawk with the TSX Venture Exchange and securities regulators. Hawk does
not assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events or
otherwise.
Contacts:
Hawk Uranium Inc.
H. Vance White, President
Phone: 416-214-2250
Phone: 866-214-9486
Fax: 416-367-1954
Corinna de Beer, Investor Relations
Phone: 416-792-0343
eMail: ir@hawkuranium.com
This press release is not to be disseminated or used in the United
States of America, and may not be viewed or relied upon in that country or
by investors in that country. ..
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Hawk Uranium Inc.
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EXPLORATION STAGE |
CODE : HUI.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Hawk Uranium is a uranium exploration company based in Canada. Its main exploration properties are GRAND CALUMET, CLUFF LAKE PROPERTY, CHARLEBOIS LAKE, CORTEZ PROPERTY, BIG MAC/MACNUGGET and HOLDSWORTH in Canada. Hawk Uranium is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 4.0 millions as of today (US$ 4.0 millions, € 3.0 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 0.49, and its lowest recent point on December 24, 2008 at CA$ 0.02. Hawk Uranium has 52 935 000 shares outstanding. |
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