November 3rd, 2011
News Release No. 219
TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2

HAWKEYE ACQUIRES DRILL READY HIGH GRADE PROPERTY

HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”) announces that it has signed a binding Letter Agreement to acquire an option on the DASS Mountain and Klaskino Inlet Properties. Under the terms of the Letter Agreement HAWKEYE can acquire a 100% interest in the DASS Mountain claims which are located in a mineralized mining district on northwest central Vancouver Island, BC, situated approximately 30 km southwest of Campbell River. The DASS Mountain claims are situated approximately 150 km south of the past producing Island Copper Mine (BHP Minerals) which was located sixteen (16) kilometres south of Port Hardy. The Island Copper Mine was a 50,000 tonnes per day open-pit copper mine that opened in 1971 and closed in 1995. More than one billion tonnes of rock was removed from the open-pit and the mine produced metal concentrates containing more than 1.3 million tonnes of copper (2,705,800,366 pounds), 31,000 tonnes of molybdenum (70,569,657 pounds), 31.7 tonnes of gold (1,133,878 ounces), 336 tonnes of silver (9,455,712 ounces) and 520 pounds of Rhenium. By the time the mine closed in 1995, Island Copper was the third largest mine in Canada and had remaining reserves estimated at 23.4 million tonnes grading 0.33% copper (Cu), 0.02% molybdenum (Mo), 0.16 g/t gold (Au) and 1.2 g/t silver (Ag). The DASS Mountain Property is also situated approximately 35 km north of the Myra Falls Mine which has been producing average ore concentration of 5.4% zinc (Zn), 0.5% lead (Pb), 1.0% copper (Cu), 45 g/t silver (Ag) and 1.3 g/t tonne gold (Au) since 1966.
With regards to the Klaskino Inlet Property, HAWKEYE can acquire a 100% interest in these claims which are also located on Vancouver Island situated approximately 45 km southwest of Port Alice. The Klaskino Inlet Property is subject to a nine (9) month option period whereby the Company has nine months from TSX Venture acceptance of the DASS Mountain Property Option Agreement to give notice to the Optionor that it wishes to enter into a formal Option Agreement to acquire a 100% interest in the Klaskino Inlet Property.
Recently the Company and its consulting geologist made property visits to the DASS Mountain and Klaskino Inlet Properties with the vendor of the claims. During the site visits a total of thirteen (13) rock samples were taken by the company from the DASS Mountain Property and were submitted to Acme Labs in Vancouver for analysis. Assay results received from Acme Labs for the 13 rock samples reported copper (Cu) values ranging from 1.079% to as high as 20.761% and silver (Ag) values ranging from 0.4 to 43.1 g/t. The table below indicates assay results for values received on a per sample basis.
Property

Sample

Cu %

Ag ppm (g/t)

Sample

Cu %

Ag ppm (g/t)

DASS Mountain

D11-1

20.761

40.1

UC2-1

7.828

20.1

DASS Mountain

D11-2

0.16

0.4

UC2-2

15.747

43.1

DASS Mountain

D11-3

3.372

6.1

UC2-3

1.968

5.7

DASS Mountain

D11-4

3.677

5.1

UC2-4

6.146

16.1

DASS Mountain

D11-5

15.389

33.5

UC2-5A

1.079

3.1

DASS Mountain

D11-6

2.201

3.3

UC2-5B

0.90

2.6

DASS Mountain

D11-7

8.936

12.8

UC2-6

7.099

20.7

Details of the DASS Mountain Option Agreement will be disclosed upon TSX acceptance for the acquisition.
The company intends to drill the DASS Mountain Property this fall.
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, managing 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 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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