Gold Hawk Resources Inc.

Gold Hawk Resources Inc.

October 29, 2007 09:00 ET

Gold Hawk Resources Inc.-Appointment and Amendment to Stock Option Plan and Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2007) - Gold Hawk Resources Inc. ("Gold Hawk" or the "Company") (TSX VENTURE:CGK) is pleased to announce the appointment, of Mr. Colin K. Benner as Executive Chairman of Gold Hawk effective October 29, 2007.

A director of Gold Hawk since 2003, Mr. Benner replaces Mr. Gordon Bub who will remain with the Company as Vice-Chairman and director. "We are delighted that Colin has agreed to take on the Executive Chairman role as he brings to the Company proven leadership, as well as a great deal of invaluable industry and international experience," said Mr. Bub.

Mr. Benner is a member of the Association of Professional Engineers of Ontario, British Columbia and Northwest Territories as well the Society of Mining Engineers of the AIME and the Canadian Society of Professional Engineers. During his career in the mining industry, he has served on many advisory committees encompassing education, safety and health, and mine management.

While previously the President and CEO of Breakwater Resources Ltd. he was instrumental in building that company from a small junior to a medium size international zinc producer in a relatively short period of time. More recently Mr. Benner was Vice Chairman and CEO of Eurozinc Mining Corp. and was instrumental in merging that company with Lundin Mining Corp. following which he became Vice Chairman and CEO. In April of this year he stepped down from the CEO role to serve as the Vice Chairman.

"With Gold Hawk's Coricancha Mine now in commercial operation and providing a solid basis on which to grow the Company, the appointment of Mr. Benner further solidifies our efforts to grow Gold Hawk into a mid-tier precious metals producer," said Kevin Drover, President and CEO of Gold Hawk. "Colin's experience and industry knowledge coupled with Gold Hawk's existing management depth, will allow Gold Hawk to aggressively pursue growth opportunities and build Gold Hawk into a world class company."

The Company also wishes to advise that the Board of Directors has approved a new Stock Option Plan (The "2007 Plan") subject to regulatory approval. The Board approved the cancellation of the 2006 Plan and the transfer of the 285,000 unexercised options under that plan to the 2007 Plan. The maximum number of common shares issuable under the 2007 Plan, including the preceding options, shall be 12,000,000 common shares (which is 7.2% of the issued and outstanding common shares of the Company).

Under the 2007 Plan and subject to regulatory approval, the Board has approved the granting of 1,000,000 stock options to Mr. Benner at $0.53 valid for 5 years. Following regulatory approval, the Company will have 3,285,000 unexercised options under the 2007 Plan.

About Gold Hawk Resources Inc.

Gold Hawk is a Canadian based precious and base metals producer with reserves and resources containing gold, silver, lead, zinc and copper. Since the acquisition of the wholly owned Coricancha Mine in Peru in March of 2006, the mine and concentrator have been refurbished and commercial production status was achieved on October 1, 2007. The rated capacity of the processing facility is approximately 600 tonnes of ore per day, with potential for expansion to 900 tonnes per day during 2008. The Company, through its subsidiary, Compania Minera San Juan (Peru) S.A., has approximately 600 employees.

Gold Hawk is based in Vancouver, British Columbia, Canada and trades on the TSX-V under the symbol CGK, and is operated by an experienced management team. The Company also has exploration properties in Peru and Canada (Quebec), and is actively pursuing other growth opportunities.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Gold Hawk Resources Inc.
    Mr. Gordon F. Bub
    (604) 689-9261
    Gold Hawk Resources Inc.
    Mr. Kevin Drover
    President and CEO
    (604) 689-9296