November 17th, 2008
News Release No. 181
TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2

PRIVATE PLACEMENT RE-PRICED TO $0.015 PER SHARE

HAWKEYE Gold & Diamond Inc.: Vancouver, British Columbia: Trading symbol: TSX.V:HKO (the “Company”) is pleased to announce that subsequent to a non-brokered private placement news release dated September 22, 2008, the company has re-priced the private placement at $0.015 per Unit (originally $0.05 per share) and will issue up to 66,666,666 Units (originally 20,000,000 common shares) in the capital of the company for gross proceeds of up to $1,000,000.  Each Unit will consist of one common share and one warrant exercisable at $0.05 per share for a period of The private placement will be subject to a four (4) month hold from closing and completion is subject to receipt of applicable regulatory approvals.

Finders 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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