October 28th, 2009
News Release No. 186
TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2

2009 ANNUAL AND SPECIAL GENERAL MEETING AGENDA

HAWKEYE Gold & Diamond Inc.: Vancouver, British Columbia: Trading symbol: TSX.V:HKO has scheduled its 2009 annual and special general meeting for November 19, 2009.  At the meeting, in addition to appointing auditors and electing directors, the shareholders of the Company will be asked to approve a consolidation of the Company’s share capital on up to a 30:1 basis.  The consolidation ratio may be decreased to 10:1 or less at the discretion of the directors.  The Company does not propose to change its name, but will seek shareholder approval for such a change to accommodate any regulatory requirement for a name change in connection with the proposed consolidation.

The authorized capital of the Company currently consists of an unlimited number of common shares without par value, of which 68,529,032shares were issued and outstanding on the Record Date.  An additional 7,500,000 shares have been allotted for issuance after the Record Date and will be outstanding at the time of the Meeting, with the result that the Company will have 76,029,032 shares outstanding at the time of the Meeting.  Management recommends that the members approve a special resolution approving the consolidation of the Company’s shares on the basis of up to thirty pre-consolidation shares for each post-consolidation share.  After giving effect to a 30:1 consolidation, the Company expects to have approximately 2,534,301 shares outstanding.  The Company’s management has recommended the restructuring following consultation with financial advisors.  The proposed share consolidation is expected to increase the market price of the Company’s common shares on a per share basis by reducing the number of common shares outstanding.  However, no assurance can be given as to the effect of the consolidation on the value of the Company’s common shares.

Completion of the share consolidation is subject to shareholder approval and acceptance by the TSX Venture Exchange. A management information circular in connection with the meeting will be mailed to the shareholders shortly.

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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