Hawk Uranium Inc.
TSX VENTURE : HUI

Hawk Uranium Inc.

January 22, 2008 11:55 ET

Hawk's JV Partner-MacDonald Mines Exploration Ltd., Announces the Completion of the First Phase of Drill Program on the McNugget Property, McFaulds Lake Area, James Bay Lowlands

TORONTO, ONTARIO--(Marketwire - Jan. 22, 2008) - Hawk Uranium Inc. (TSX VENTURE:HUI) ("Hawk") is pleased to announce that its Joint Venture Partner - MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald Mines"), has announced that it has completed 12 holes in this first phase drill program, of which 5 diamond drill holes totalling 1,089 meters on 3 airborne anomaly targets, namely N-25 (3 holes), N-26 (1 hole) and N-30 (1 hole), were drilled on the Hawk (36.75%)-MacDonald Mines (63.25%) Joint Venture McNugget Property located in the McFaulds Lake Area, James Bay Lowlands, Ontario.

The following detailed descriptions are quoted from the MacDonald Mines press release of January 21, 2008.

"Target N-25 was tested with three drill holes. The target is defined over a strike length of 1000 meters with AEM responses varying from weak to strong. Hole MN07-39 that intersected 0.36% Ni over 4.5 meters and 0.26% Ni over 27.0 meters previously tested this anomaly. Holes MN07-51 and 53 (MacDonald-Hawk J.V.) tested a strong ground EM response and intersected a sequence of gabbro and granite. However, the EM anomaly was not explained by either hole and further study is required. Assays are pending. Hole MN07-54 (MacDonald-Hawk J.V.) tested the anomaly a further 100 meters to the NE but again the EM anomaly is not adequately explained. Assays are pending."

"Hole MN07-55 (MacDonald-Hawk J.V.) tested target N-26 which exhibits a strong AEM response with a coincident magnetic anomaly. The hole intersected gabbro and minor granite throughout its length. Disseminated magnetite was encountered over significant core widths. Sulphide stringers explain the EM response. Assays are pending."

"Target N-30 (MacDonald-Hawk J.V.) displayed a series of weak to moderate AEM anomalies over a strike length of 900 meters that had a coincident magnetic anomaly associated with it. Drill hole MN07-49 encountered gabbro throughout its 213 meter length. Disseminated to massive magnetite over short intervals explained the magnetic anomaly while fracture filled sulphides accounted for the EM response. No assays of economic interest were obtained from extensive sampling."

The January 21, 2008 press release by MacDonald Mines further states that "assays will be completed by ALS Chemex in Thunder Bay. Reference standards and blanks were inserted into the sample streams as part of a QA/QC program to ensure accurate results."

Kirk McKinnon, President and CEO of MacDonald Mines, commented:

"The drill results to date are encouraging and we continue to intersect mineralization in most of the holes, confirming our belief that the Company is exploring in a highly mineralized belt."

"We are very pleased to announce that a major drill program on MacDonald and Joint Venture ground with Temex Resources, Baltic Resources and Hawk Uranium will commence in February. We will be moving a second drill into the area in early March and anticipate that MacDonald Mines along with 5 or 6 other companies will be fully engaged in winter/spring drill programs."

"We anticipate that the current airborne survey will produce multiple geophysical targets on both the MacDonald Mines and Joint Venture ground. Equally important to note, MacDonald Mines still has very good targets on the McNugget, Big Mac and the Joint Venture Property with Hawk Uranium that were identified from its previous airborne survey and still must be drill tested."

Vance White, President and CEO of Hawk said: "We are very pleased to have this program underway and to be conducted in the professional manner that it has been to date. We look forward to receiving the results when available. With regard to the McFaulds Camp in general, we feel that the Noront Resources Inc. discovery is significant and may well lead to a new mining district as the area will experience a substantial amount of new exploration monies expended in what to date has been an under-explored area of the Province of Ontario. Hawk is continuing its focused exploration in this new emerging mineral camp by entering into an option agreement with Noront Resources Inc. to obtain a 50% interest in 10 claims covering approximately 6,340 acres in the "ring of fire". For further details regarding Hawk's option agreement with Noront Resources Ltd. (which remains subject to approval by the TSX Venture Exchange), see Hawk's press release of November 21, 2007.

The MacDonald Mines press release of January 21, 2008, excerpts relating to the Hawk joint venture with MacDonald Mines being re-printed in this press release, was prepared under the supervision of Bill Nielsen, P.Geo, Director of MacDonald Mines Ltd., who is the designated qualified person for the technical information quoted from that press release.

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.

ABOUT HAWK URANIUM INC.

Hawk has option interests in a uranium project in Grand Calumet Township, Quebec, two VMS/nickel/copper exploration properties in the McFaulds Lake "Ring of Fire" area of Northern Ontario through option or joint venture agreements (one with Noront Resources Inc. and one with MacDonald Mines Exploration Ltd.), one gold exploration property in the Wawa area of Ontario, one uranium property in the Elliot Lake Camp of Ontario, one uranium property in the Charlebois Lake area of the Northern Mining District of Saskatchewan, one uranium property in Gila County, Arizona, and a core holding of 3.5 million shares in Wits Basin Precious Minerals Inc. (OTCBB:WITM) ("Wits Basin"). Wits Basin is currently pursuing active projects in South Africa, Colorado, Mexico and the People's Republic of China. Hawk also has petroleum and natural gas properties in Ontario.

For all Hawk Uranium Inc. investor relations needs, investors are asked to visit the Hawk Uranium IR Hub at http://www.agoracom.com/ir/hawk where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to hui@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

CAUTIONARY STATEMENT

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Hawk, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and results to differ materially from Hawk's plans and expectations as 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 does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Hawk Uranium Inc.
    H. Vance White
    President
    (416) 214-2250 or 1-866-214-9486
    (416) 367-1954 (FAX)
    or
    Hawk Uranium Inc.
    Walter Brooks
    Vice-President
    (416) 214-2250 or 1-866-214-9486
    (416) 367-1954 (FAX)