Hawk Significantly Increases Land Position in the Ring of Fire, McFaulds Lake Area

2010-04-13

TSXV - TSX Venture Exchange · Scandium · Rare Earth Elements · Gold · Canada

Apr. 13, 2010 (TheNewswire.ca) --

Toronto, April 13, 2010 - Hawk Uranium Inc. (OOTC:HWKPF) (TSXV:HUI) (TSX-V:HUI, FRANKFURT:HPM, OTC.PK:HWKPF)("Hawk") is pleased to announce that it is has entered into a Letter of Intent ("LOI") with Canadian Orebodies Inc. (TSXV: CO)("Orebodies") whereby Hawk will acquire (1) a 100% legal and beneficial interest in Orebodies' eight 100% owned properties and (2) all of Orebodies' interests in Orebodies' seven 50% owned properties held through a joint venture among Orebodies, Macdonald Mines Exploration Ltd. (TSXV: BMK) and Temex Resources Corp. (TSXV: TME)(the "Properties"). The Properties consist of approximately 444 claim units (100% owned by Orebodies) comprising approximately 7,104 hectares, and approximately 891 claim units (50% owned by Orebodies) comprising approximately 14,256 hectares, all which are located in the James Bay Lowlands "Ring of Fire", in Ontario. The 100% owned properties would remain subject to a 10% net profits interest in favour of Orebodies, whereas Orebodies would retain a 5% net profits interest in the properties subject to the joint venture with Macdonald Mines Exploration Ltd. and Temex Resources Corp. (which would be converted to a 0.15% net smelter returns royalty if Hawk's interest in those properties is reduced to less than 10% and therefore converted to a net smelter returns royalty).

In order for Hawk to complete the purchase of the Properties, Hawk is required to:

(1) Issue to Orebodies an aggregate amount of 5,000,000 common shares of Hawk;

(2) Issue to Orebodies 4,000,000 share purchase warrants of Hawk, each warrant entitling Orebodies to acquire one common share of Hawk at an exercise price of $0.15 per share for a period of four years from closing; and

(3) Grant Orebodies the right to appoint one individual to the board of directors of Hawk to represent Orebodies' interest.

Closing of the transaction remains subject to Hawk being satisfied with the results of its due diligence on the Properties, the execution of a definitive purchase and sale agreement and the approval of the TSX Venture Exchange and the board of directors of Orebodies. Assuming Hawk is satisfied with its review of the Properties and proceeds to conclude this acquisition, it will pay a total finder's fee of 450,000 shares to two parties who introduced Hawk to this opportunity, subject to the approval of the TSX Venture Exchange.

"We feel that the area has the strong potential to become the next major mining camp in Canada," said Vance White, Chairman of Hawk Uranium Inc. "The addition of these properties, in conjunction with the properties already joint ventured with MacDonald Mines, will provide us with a larger footprint in this exciting area where dynamic developments are planned. We are pleased to build on the existing, strong relationship with MacDonald Mines, as well as develop new ones with Temex Resources and Canadian Orebodies, adding to the support of their strong technical and review teams."

"This transaction further displays Hawk's dedication to its growth strategy for the Company and its shareholders," added Mr. White.

About the Properties:

Preliminary exploration work in excess of $2mm, including a Geotech heliborne VTEM Geophysical Survey together with a ground follow-up HLEM survey on a number of anomalies has been carried out by Orebodies and/or its JV Partners on the 15 properties. Also, only three anomalies were drill tested by four diamond drill holes on two of the 100% owned properties, while three anomalies were drill tested with three diamond drill holes on two of the 50% owned properties.

There are a number of VTEM anomalies that still require additional detailed interpretation, ground truthing and eventual diamond drill testing. A complete analysis of each property will be released in the near future.

About Hawk Uranium Inc.:

Hawk Uranium Inc. is a Canadian based junior exploration company with a portfolio of diversified projects at various stages of exploration and drilling, for Uranium in N. Saskatchewan and Quebec, Gold in N. Ontario and Nickel/Copper/PGM in the ‘Ring of Fire' McFauld's Lake Area of N. Ontario.

More detailed information is available on the website at www.hawkuranium.com.

Cautionary Statement:

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. 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.

Contacts:

Hawk Uranium Inc.

H. Vance White, Chairman

Phone: 416-214-2250

Phone: 866-214-9486

Fax: 416-367-1954

Corinna de Beer, Investor Relations

Phone: 416-792-0343

eMail: ir@hawkuranium.com

Hawk Significantly Increases Land Position in the Ring of Fire, McFaulds Lake Area

Earlier from Scandium Canada Ltd.