Hawthorne Gold Corp.
TSX VENTURE : HGC
PINK SHEETS : HWTHF

Hawthorne Gold Corp.

October 26, 2009 17:45 ET

Hawthorne Announces Cancellation of Brokered Flow-Through Share Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2009) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE:HGC)(PINK SHEETS:HWTHF) announces that further to the Company's news releases of September 24, 2009 and October 6 (the "Offering News Releases"), it has terminated the Brokered Offering of up to 3,710,000 flow-through Common Shares through its Agent, JF Mackie & Company Ltd. The Company is proceeding with the Non-Brokered Offering of up to 6,250,000 Units at $0.40 per Unit, and expects to close the Non-Brokered Offering on or before November 6, 2009.

All capitalized terms used but not defined in this news release have the meanings ascribed thereto in the Offering News Releases. Closing of the Non-Brokered Offering is subject to a number of conditions, including the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.

Proceeds from the Non-Brokered Offering will be used to fund the continued resource and mine development of the Company's Cassiar Gold Mine and Taurus gold deposit and for general corporate working capital.

About Hawthorne Gold Corp.

Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Cassiar Gold Mine and to continue resource development of the nearby Taurus deposit, as well as the Frasergold deposit in the south central British Columbia Cariboo region. Hawthorne continues to review potential acquisitions, focusing on high quality, advanced gold development opportunities.

ON BEHALF OF HAWTHORNE GOLD CORP.

Richard J. Barclay, President & CEO

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable.

Neither the 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 of accuracy of this release.

Contact Information

  • Hawthorne Gold Corp.
    Todd Hanas
    Toll Free: 1-866-869-8072
    or
    Hawthorne Gold Corp.
    604-629-1505
    604-629-0923 (FAX)
    www.hawthornegold.com