December 30th, 2011
News Release No. 221
TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2

HAWKEYE closes 1st Tranche Private Placement


HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE) announces that it has received TSX Venture Exchange acceptance and closed upon the first tranche of a non-brokered private placement initially announced July 28, 2011 through news release 217 and as amended by news release 220 on November 15, 2011. This first tranche closed by the Company issuing 4,093,636 Units in the capital of the Company at a price of $0.055 per share (Cdn.) raising the company total proceeds of $225,150. Each Unit consists of one (1) common share and one share purchase warrant. Each warrant entitles the holder to purchase one (1) additional share at a price of $0.10 per share prior to 4:30 p.m. (PST) on September 20, 2012 and for $0.15 per share thereafter prior to 4:30 p.m. on June 20, 2013 at which time the Warrants will expire; provided that if at any time after December 20, 2011 (the “Closing Date”) the Corporation’s Shares have a closing price of Cdn. $0.20 or more per share for fifteen (15) 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 15 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. (PST) on the last day of such 15 day period.

In connection with the closing of the first tranche of this private placement the Issuer has paid cash finder’s fees totaling $21,725 and issued finder’s warrants to purchase up to 395,000 common shares in the capital of the Company at a price of $0.10 per share prior to 4:30 p.m. (PST) on June 20, 2013.

All securities issued in connection with this private placement are subject to a four (4) month hold expiring April 20, 2012.

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 upon the exploration and development of its TOP, DART and MINT Properties located in the Yukon, Canada, which are gold and silver prospects and its DASS Mountain Property located on Vancouver Island, BC, Canada which is a copper and silver prospect. 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.


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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