Hawk Uranium Inc.
TSX VENTURE : HUI

Hawk Uranium Inc.

February 20, 2008 09:31 ET

Hawk Acquires Claims Adjacent to Past Uranium Producer in Athabasca Basin

TORONTO, ONTARIO--(Marketwire - Feb. 20, 2008) - Hawk Uranium Inc. (TSX VENTURE:HUI) ("Hawk") is pleased to announce that it has filed documents with the Government of Saskatchewan to complete its acquisition by staking of more than 13,000 hectares of ground in five (5) blocks adjacent to and on strike with the Cluff Lake Uranium Mine. Hawk will hold a 100% interest in these properties.

The Cluff Lake Uranium Mine previously produced approximately 62.5 million pounds of yellowcake from the mine which, when in operation, had an average producing grade of approximately 22lbs/ton. The claims staked by Hawk cover ground that lies in the Carswell Impact Structure and is within the Athabasca Basin.

One block totalling in excess of 2,100 hectares is immediately contiguous to and forms a common western boundary with the Cluff Lake Uranium Mine site. Previous operators have outlined numerous airborne geotem conductors within the claim blocks acquired by Hawk.

The Athabasca Basin has been the world's most important uranium producing area, accounting for more than 30% of global primary uranium supply. Since 1968, eighteen (18) deposits containing approximately 1.5 billion pounds U3O8 have been inventoried in the area, including the McArthur River Mine, which contains 419 million pounds of uranium grading 24.72% U3O8. Other major uranium deposits in the Athabasca Basin are the Rabbit Lake and Key Lake deposits.

There is strong evidence that impact structures are prime locations for a variety of mineral occurrences. Hawk's management believes that this factor, coupled with the favourable uranium geology of the Athabasca Basin, will help cause these claims to develop into a significant property acquisition for 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 near the Cluff Lake Uranium Mine within the Athabasca Basin 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.

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 Toll Free: 866-214-9486
    (416) 367-1954 (FAX)
    or
    Hawk Uranium Inc.
    Walter Brooks
    Vice-President
    (416) 214-2250 or Toll Free: 866-214-9486
    (416) 367-1954 (FAX)