|March 13th, 2008
News Release No. 177
|TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2
DRILL RESULTS AT SWISS BANK PROPERTY – NEVADA
HAWKEYE Gold & Diamond Inc.: Vancouver, British Columbia: Trading symbol: TSX.V:HKO (the “Company”) announces that the Company has received assay results relating to the December 2007 drill program performed at its Swiss Bank Property which is located approximately 15 kilometres northwest of Lovelock in Pershing County, Nevada. The Swiss Bank property is held under an exploration earn-in joint venture agreement with AuEx Ventures, Inc.
In connection with the drill program, management decided to drill two additional reverse circulation holes totaling 2,000 feet in the southern area of the property where the Company received anomalous gold values during its June 2007 drill program which totaled 11,460 feet. The December 2007 drill program was designed to test at depth the down-dip extent of the north-dipping, east-west trending gold-bearing rhyolite dike to determine if higher grade gold values are present. Unfortunately, due to bad weather and poor field conditions, the Company was forced to abandon the drilling program after completion of the first hole, SB-19, which was drilled to a total depth of 1,120 feet. The hole penetrated the altered rhyolitic dike as expected and assay results from 715 feet to 770 feet indicate anomalous gold values averaging 160 parts per billion along with elevated pathfinder chemistry.
Upon further review of these and the previous drill results, the company’s geologists have decided to complete additional surface evaluation work to include more geological mapping and geophysics to refine two new exploration ideas. This work will be completed over the next few months after which a decision regarding further drilling will be made. Assuming a favorable evaluation, the drilling program would be conducted in late summer 2008.
All drill samples from hole SB-19 were collected following standard industry practice and were assayed by American Assay Laboratories of Sparks, Nevada. Gold results will be determined using standard fire assay techniques on a 30 gram sample with an atomic absorption finish. Other elements were determined by way of the 69 element 2 acid ICP analytical method. Numerous standards, blanks and duplicates were inserted into the sample stream for QA/QC. All results have been verified by the Company’s Qualified Person Mr. David Mayes, P.Geo.
HAWKEYE GOLD & DIAMOND INC.
President & CEO
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