Glen Hawk Minerals Ltd.

Glen Hawk Minerals Ltd.

March 29, 2005 00:01 ET

Glen Hawk to Acquire Advanced Uranium Property in Utah


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GLEN HAWK MINERALS LTD.

TSX VENTURE SYMBOL: GHM

MARCH 29, 2005 - 00:01 ET

Glen Hawk to Acquire Advanced Uranium Property in Utah

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2005) - Glen Hawk
Minerals Ltd. (TSX VENTURE:GHM) is pleased to announce that it has
signed a letter of intent with Energy Metals Corporation to earn up to
75% in the 6,000 acre San Rafael Property located in Emery County, Utah.

The San Rafael Property 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 can earn an initial 51% interest in the property by making a
cash payment of US$ 30,000 on signing of the formal agreement, US$
35,000 upon regulatory approval of the TSX Venture Exchange, spending
US$ 1,100,000 on exploration and issuing 1,100,000 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 agreement is subject to title review and the approval of the TSX
Venture Exchange.

Glen Hawk is planning to begin further evaluation of the San Rafael
Property including the preparation of a National Instrument 43-101
report.

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

On behalf of the Board,

Luca Riccio, PhD, P.Geo., Director


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Glen Hawk Minerals Ltd.
    Luca Riccio, PhD, P.Geo.
    Director
    (604) 952-4560
    info@glenhawkminerals.com
    www.glenhawkminerals.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this new release.