Glen Hawk Minerals Ltd.
TSX VENTURE : GHM

Glen Hawk Minerals Ltd.

June 27, 2005 11:01 ET

Glen Hawk Finalizes Option Agreement to Acquire Advanced Uranium Property in Utah

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 27, 2005) - Glen Hawk Minerals Ltd. (TSX VENTURE:GHM) is pleased to announce the signing of a formal option agreement with revised terms with Energy Metals Corporation and Energy Metals Corporation (US) to earn up to 75% in the 6,000 acre San Rafael property located in Emery County, Utah, which was previously announced on March 29, 2005.

Under the revised terms of the agreement, Glen Hawk can earn an initial 51% interest in the property by fulfilling the following:

1. A cash payment of US$ 15,000 on signing of the formal option agreement (paid),

2. US$ 20,000 upon regulatory approval of the TSX Venture Exchange;

3. Spending US$1,100,000 on exploration and issuing 1,450,000 shares of common stock over a period of five years.

Glen Hawk has the right to increase its interest in the property to 75% if it elects to fund the property to a bankable feasibility study to be completed within 30 months of the initial earn in. Glen Hawk will be the operator during the option period.

The San Rafael was previously explored by Atlas, Conoco, Union Carbide and others. In the 1960's and 1970's Conoco drilled at least 165 holes in two sections within what is locally referred to as the Down Yonder or Conoco trend. This northeast trending channel is parallel to and just to the east of the Tidwell trend which hosted several underground uranium mines including the Four Corners mine and Atlas' Snow shaft. Uranium mineralization in the district is found in the Upper Salt Wash sandstone of the Jurassic Morrison Formation. In 1973, Conoco reported a historic resource of 2.07 million pounds within a deposit with an average thickness of 6.7 feet grading 0.16% U3O8 using a cutoff of 0.05% U3O8. The mineralization is open to the north and northeast. The depth to mineralization ranges from 570 feet to 1,000 feet and the water table is at approximately 500 feet. Petrographic analyses conducted by Energy Metals Corporation on seven core holes are being reviewed. The results of the petrographic work will be used to determine the deposit's potential amenability to" in situ leach" (ISL). Additional mineralization is known to occur in the northern and western parts of the claim blocks along extensions of the more westerly Tidwell belt.

Further drilling will be required to delineate the extent and commercial viability, if any, of the mineralization. The Company is reviewing the voluminous data base on this property.

Readers are cautioned that while the resource estimates are considered to be reliable they do not comply with the guidelines of National Instrument 43-101. Therefore Glen Hawk is not treating the resource estimates as a National Instrument 43-101 mineral resource verified by a qualified person. The reader should not rely upon these historical estimates until they can be verified by a National Instrument-43-101 compliant study.

Glen Hawk will commence further evaluation of the San Rafael Property including the preparation of a National Instrument 43-101 report to be completed before the end of July.

This acquisition is in line with the company's objectives to build quality assets and diversify while increasing shareholder value.

The agreement is subject to the approval of the TSX Venture Exchange.

Further to the news release of June 16, 2005, the Company will not be proceeding with the grant of 100,000 options at $0.16.

On behalf of the Board,

Luca Riccio, Director

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

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