Gold Hawk Resources Inc.
TSX VENTURE : CGK

Gold Hawk Resources Inc.

June 08, 2007 14:56 ET

Gold Hawk Resources Inc.: Ratification of Shareholder Rights Plan and Stock Option Grant

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2007) - Gold Hawk Resources Inc. ("Gold Hawk" or the "Company") (TSX VENTURE:CGK) is pleased to announce that the Company's Board of Directors has adopted a Shareholder Rights Plan (the "Rights Plan"), and that the Rights Plan was ratified by the Company's shareholders at the annual and special meeting of shareholders held on June 7, 2007. Although effective as of June 7, 2007, the Rights Plan is subject to approval by the TSX Venture Exchange. A copy of the Rights Plan will be made available for viewing on SEDAR at www.sedar.com.

The Rights Plan is designed to encourage the fair and equal treatment of shareholders in connection with any take-over bid for the outstanding securities of the Company. The Rights Plan is intended to provide the Board of Directors with adequate time to assess a take-over bid, to consider alternatives to a take-over bid as a means of maximizing shareholder value, to allow competing bids to emerge, and to provide Gold Hawk's shareholders with adequate time to properly assess a take-over bid without undue pressure. Gold Hawk's Board of Directors is not currently aware of any pending or threatened take-over bid for the Company. The Rights Plan is similar to plans adopted by other Canadian companies and ratified by their shareholders.

The Company also wishes to advise that pursuant to the Company's 2006 stock option plan and subject to regulatory approval, the Board has approved the granting of options for 1,055,000 shares to officers and directors at $0.69 valid for 5 years. Following regulatory approval, the Company will have 1,310,000 remaining options available for grant under the 2006 Stock option plan.

About Gold Hawk Resources Inc.

Gold Hawk is a precious metals producer with its primary asset, the Coricancha Mine, in Peru, now in production. The company purchased the Coricancha Mine in March of 2006 and since then has permitted, refurbished the mine and concentrator and is now ramping up production to design levels. The company, through it subsidiary, CMSJ Peru, has some 500 employees and contractors. Its head office is in Vancouver, British Columbia. The Company also, has exploration properties in Peru and Canada (Quebec).

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
    Chairman and C.E.O.
    (604) 689-9261
    or
    Gold Hawk Resources Inc.
    Mr. Kevin Drover
    President and Chief Operating Officer
    (604) 689-9296
    Website: www.goldhawkresources.com