Hawk Obtains Extension on Payment Installment for Cortez Property; Abandons Stanley Line Project
TORONTO, ONTARIO–(EMWPresswire – July 25, 2008) – Hawk Uranium Inc. (TSX VENTURE:HUI)(FRANKFURT:HPM) (“Hawk”) is pleased to provide an update with respect to the following projects.
Hawk has obtained a 30-day extension for the next instalment payment for its Cortez Property in the Ramsey Lake Area – Elliott Lake Area of Northern Ontario. The option agreement requiring Hawk to pay $12,000 and issue 40,000 common shares by July 25, 2008 has been extended 30 days, allowing Hawk to substantially complete the field exploration program (consisting of line cutting, field mapping, ground Magnetic and ground Radiometric Surveys over a number of airborne radiometric anomalies identified from a November 2007 airborne survey) that it announced on July 2, 2008, and to allow Hawk’s management to assess those results and reach a determination as to Hawk’s continuing interest in this property.
Stanley Line Project
Hawk is also announcing that it has abandoned its activities on, and its interests in, its Stanley Line Project. Hawk’s interests in the Stanley Line Project consisted of a 75% interest in certain Petroleum and Natural Gas Leases, and a 50% interest in certain Gas Storage Leases located in Lambton County, Southwestern Ontario. Hawk has not been successful in farming out this project and management has therefore determined that it should be abandoned.
Correction to July 2, 2008 News Release: Holdsworth Property, Ontario
The table of sample results reported July 2, 2008 contained an error in that two samples were labelled as sample #20452. The error did not affect the results reported. The corrected sample numbers are listed below:
Sample # Total AU Location Sample Length
20451 1.46 L798+14E: 331+351N 3.0m sample
20452 3.18 L798+20E: 331+350N 7.0m sample
Michael Newbury, P.Eng, a “qualified person” as such term is defined by National Instrument 43-101, has reviewed and approved the technical information in this news release on behalf of Hawk.
Hawk Uranium Inc. is a Canadian based junior mining company with a portfolio of diversified exploration projects at various stages of exploration and drilling, for Nickel/Copper/PGM in the ‘Ring of Fire’ McFauld’s Lake Area of N. Ontario, Gold in N. Ontario, Uranium in N. Saskatchewan, Ontario and Quebec, and P&NG Leases in S.W. Ontario.
More detailed information is available on the website at www.hawkuranium.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Hawk Uranium Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from Hawk’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Hawk with the TSX Venture Exchange and securities regulators. Hawk does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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