October 6th, 2011
News Release No. 218
TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2

SCOTIA PROPERTY AGREEMENT LAPSES

HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”) announces that its Scotia Property Agreement with the Optionor of the Property has lapsed and that the Company will have no further commitments or future interest in the Property. The Company had to make a second year property payment to the Optionor of the Property and had requested an extension in time in which to make the payment but the extension was not granted and the Property was returned to the Optionor.

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 upon the exploration and development of its TOP, DART and MINT Properties located in the Yukon, Canada. HAWKEYE’s corporate philosophy is to build strong asset value through diversification, the acquisition of low-cost high potential mining opportunities worldwide, manage our business activities in an environmentally responsible manner while contributing to the well-being of the local community and economy. Our goal is to ultimately achieve full time commercial production of our projects for significant growth and early returns on investment to maximize shareholder value.

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

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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