July 28th, 2011
News Release No. 217
TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2


HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”) announces that it has arranged for a non-brokered private placement to sell up to 2,307,692 Units in the capital of the Company at a price of $0.13 per Unit for total proceeds of $300,000 (Cdn.). Each Unit shall consist 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 the date which is eighteen months from the Closing Date, at which time the Warrants will expire; provided that if at any time after the Closing Date the Corporation’s Shares have a closing price of Cdn. $0.35 or more per share for thirty (30) consecutive trading days on the TSX-V, the Corporation shall be entitled to give notice to the holders of the Warrants, that the Warrants will expire 30 days from the announcement 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.

The private placement will be subject to a four (4) month hold from closing and completion is subject to receipt of applicable regulatory approvals and finder’s fees may be paid on a portion of the offering. Proceeds from the private placement will be used for general working capital and work program property expenditures.

About the Company

HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and development company based in Vancouver, British Columbia, Canada and is publicly traded on the TSX Venture Exchange under the trading symbol HGO. The Company is currently focused on the exploration and development of its TOP, DART and MINT Properties located in the Yukon and its Scotia Property situated in northwest British Columbia, Canada. HAWKEYE’s corporate philosophy is to build strong asset value through the exploration, development and ultimate production of its various mineral projects intending to significantly increase shareholder value.

Visit our new website at www.hawkeyegold.com to learn more about the Company and its properties.


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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