September 22nd, 2010
News Release No. 204
TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2

HAWKEYE CLOSES SECOND TRANCHE OF $900,000 PRIVATE PLACEMENT

HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”): Vancouver, British Columbia: Trading symbol: TSX.V: HGO announces that it has received TSX Venture Exchange acceptance and closed upon the second tranche of a $900,000 non-brokered private placement previously announced July 9, 2010. The placement closed by HAWKEYE issuing a total of 870,000 Units at a price of $0.15 per Unit raising the Issuer a total of $130,500 (Cdn). The Company has raised a total of $630,000 to date by closing the first two tranches and anticipates closing upon the balance shortly. Each Unit consists of one (1) common share in the capital of the Corporation and one share purchase warrant.  Each Warrant will entitle the holder to purchase one (1) additional Share for $0.25 at any time prior to 4:30 p.m. (Vancouver time) on March 16, 2012, at which time the Warrants will expire; provided that if at any time after September 15, 2010 the Issuer Shares have a closing price of Cdn. $0.35 or more per Share for thirty (30) consecutive trading days on TSX-V, Hawkeye shall be entitled to give notice to the holders of the Warrants, that the Warrants will expire 30 days from the date of mailing of such notice unless exercised before the expiry of that period, and in such event all unexercised Warrants will expire at 4:30 p.m. (Vancouver Time) on the last day of such 30 day period. Proceeds will be used for general working capital, acquisition costs and to fund HAWKEYE’s work program over its Scotia Property.

In connection with the closing of the second traunch of the private placement the Issuer has paid cash finder’s fees totaling $11,550 and issued finder’s warrants to purchase up to 77,000 common shares in the capital of the Company at a price of $0.15 per share exercisable under the same terms as the warrants attached to the Units for this private placement.

All securities issued in connection with this private placement are subject to a four (4) month hold expiring January 16, 2011.

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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