|July 13th, 2010
News Release No. 197
|TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2
SCOTIA PROPERTY RESOURCE ESTIMATE
HAWKEYE Gold & Diamond Inc. (the “Company”): Vancouver, British Columbia: Trading symbol: TSX.V: HGO previously announced July 9, 2010, that it had acquired an option to purchase up to a 60% interest in the Scotia massive sulfide property, which totals 8,366.41 hectares and is located 42 kilometers southeast of Prince Rupert situated in the Skeena mining district of British Columbia. The Scotia Property is a poly-metallic zinc, silver, lead, copper and gold massive sulfide project and has incurred previous drilling over its known mineralized zone called the Albere Zone.
A resource estimate utilizing a 1% Zinc cut-off for the Albere Zone conducted by Giroux Consultants Ltd. (2009) is incorporated into a 43-101 report for Geo Minerals Ltd. and announced by Geo Minerals Ltd. via a news release dated January 11, 2010 has estimated that the Measured + Indicated resource within the Mineralized Shell is 802,000 grading 4.87% Zn, 13.87 g/t Ag, 0.53% Pb, 0.09% Cu and 0.17g/t Au. The Total Measured plus Indicated Resource for the Albere Zone was calculated to be 876,000 tonnes grading 4.35% Zn, 12.29 g/t Ag, 0.47% Pb, 0.08% Cu, and 0.15 g/t Au.
The same resource estimate indicates that there is an additional 702,000 tonnes within the mineralized shell at the Albere Zone classed as Inferred grading 4.47 % Zn, 13.74 g/t Ag, 0.45 % Pb, 0.10 % Cu, and 0.19 g/t Au. No economic parameters have been defined by the current Resource Estimate as to an appropriate cut-off for various types of mining. The Albere zone is open on strike to the northwest and open down dip to the west.
An airborne geophysical survey performed over the property during 2008 detected five (5) new primary anomalies similar to the Albere Zone and ten (10) additional secondary anomalies. HAWKEYE intends to complete additional drilling over the Albere Zone along strike and down dip and perform prospecting and mapping, trenching, stream sediment sampling, soil and rock chip geochemical sampling at the locations of the new airborne geophysical anomalies. Upon a positive recommendation from our geologists these targets would be followed up with a drilling program. Further news will be forthcoming.
Mr. Arne O. Birkeland, P.Eng., is the Qualified Person for the Scotia Property and is responsible for the technical information reported in this news release.
HAWKEYE GOLD & DIAMOND INC.
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.