July 5th, 2012
News Release No. 224 - 2012
TSX Venture Exchange - HGO
CUSIP NO : 42016R 30 2

HAWKEYE to purchase TOP Property Yukon

HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE): Vancouver, British Columbia: announces that, due to the encouraging results from its 2011 work program, it has converted its previous option on the TOP property to a purchase option agreement. The TOP Property is strategically situated within the Carmacks Caldera, a new and developing discovery area play in the Yukon, Canada. The Company can now purchase a 100% interest in the TOP Property, net of a 2% NSR, by paying the vendor, YES Exploration Syndicate, $128,000 this year and $172,000 in 2013. The Company has retained the right to purchase one of the two percentage points of the NSR for $1,000,000.

“Purchasing the TOP property will allow us more flexibility in planning and staging appropriate exploration programs on this outstanding gold prospect.”, states Greg Neeld, HAWKEYE’s President & CEO.

The Company also announces that 605,000 incentive stock options that were previously announced but never granted at a price of $0.18 per common share have been cancelled.

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 high grade 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.

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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