|July 11th, 2011
News Release No. 215
|TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2
SCOTIA PROPERTY PROGRAM RESULTS
HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”) is pleased to announce that it is in receipt of results for a prospecting and geochemical sampling program for work that was performed on its Scotia Property. The Company can earn up to a 60% interest in the Scotia massive sulphide Property which totals 8,366.41 hectares and is located 42 kilometers east-southeast of Prince Rupert situated in the Skeena mining district of British Columbia. The Scotia Property is a poly-metallic zinc, lead, silver, gold and copper massive sulfide project and has incurred previous drilling over its known mineralized zone known as 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 announced by HAWKEYE’s partner Geo Minerals Ltd. (TSX.V: GM) 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.
A multi-parameter airborne geophysical survey was conducted over the Scotia Property during August, 2008. The airborne geophysical survey identified five first order anomalies, including the outcropping Albere Zone and approximately 14 secondary anomalies and anomalous trends. A geochemical sampling program was conducted during fall, 2010 to test selected airborne anomalies to determine if polymetallic geochemical anomalies are present.
The 2010 field exploration program consisted of a geochemical survey targeted on selected Airborne Anomalies similar to the anomaly generated by the Albere zone. A total of 64 rock chip, 136 moss mat – active stream sediment and 67 soil samples were taken. Samples were flown by helicopter to Prince Rupert and transported by truck and delivered to Acme labs processing facility on Powell Street, Vancouver for analysis.
Virtually all Airborne Anomalies sampled returned geochemically anomalous or elevated values for the various sample types taken and values of over 1,000 ppm Zn were encountered from “in place” rock chip sampling in the general vicinity of the Albere Zone.
Additional prospecting and follow-up geochemical sampling is warranted to attempt to discouver clustered VMS occurrences similar to the Albere Zone that may be present on the property.
Mr. Arne O. Birkeland, P.Eng., acting as Qualified Person as defined by National Instrument 43-101 for the Scotia Property is responsible for the technical information reported in this news release.
Further news will be forthcoming.
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 and creating shareholder value for our shareholders.
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.