September 22nd, 2008
News Release No. 180
TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2

$1 MILLION PRIVATE PLACEMENT FOR RED LAKE CLAIMS

HAWKEYE Gold & Diamond Inc. (the “Company”): Vancouver, British Columbia: Trading symbol: TSX.V:HGO is pleased to announce it will conduct a non-brokered private placement of up to 20,000,000 common shares at a price of $0.05 per share for gross proceeds of up to $1,000,000.  The private placement will be subject to a four (4) month hold from closing and completion is subject to receipt of applicable regulatory approvals.

Finder’s fees may be paid on a portion of the offering and will consist of 8% in cash and, in the case of registered investment dealers, Agent’s Warrant’s equal to 8% of the number of common shares placed, each Agent’s Warrant exercisable into a common share at $0.10 for 6 months from closing.

Proceeds from the private placement will be used to finance HAWKEYE’s recommended work and drill program over its Dedee Rhode, Dixie Bell and Grand Dixie South Property located in Red Lake, Ontario, Canada and its Swiss Bank Property in Nevada, USA and for trade and general working capital.

HAWKEYE GOLD & DIAMOND INC.


Greg Neeld
President & CEO


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.

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