Hawk Precious Minerals Inc.

Hawk Precious Minerals Inc.

March 15, 2005 10:01 ET

Hawk Assigns Noront Option to MacDonald Mines Abandons M-Z Option in Kirkland Lake


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: HAWK PRECIOUS MINERALS INC.

CNQ SYMBOL: HAWK

MARCH 15, 2005 - 10:01 ET

Hawk Assigns Noront Option to MacDonald Mines Abandons
M-Z Option in Kirkland Lake

TORONTO, ONTARIO--(CCNMatthews - March 15, 2005) - Hawk Precious
Minerals Inc. (CNQ:HAWK) is pleased to announce that it has assigned its
Option to earn into a 50% interest in the Double Eagle Project of Noront
Resources to MacDonald Mines Exploration Limited. Under terms of the
assignment Hawk will receive 4,000,000 common shares and 2,000,000
warrants of MacDonald. Each warrant will be exercisable into one common
share of Macdonald for 24 months at an exercise price of $0.15.
MacDonald will complete the first year work commitments of approximately
$1,228,000 due on the Noront Double Eagle Project by July 31, 2005 and
satisfy all remaining cash and work commitments agreed to beyond Fiscal
Year 2005.

It is expected that work will commence immediately upon review of a
recently completed airborne geophysical survey covering the claim block.

The Company also wishes to announce that it has abandoned its option on
the M-Z Property in the Kirkland/Larder Lake Camp due to disappointing
results from a recent drill campaign.

About Hawk Precious Minerals Inc.

The company retains an interest in the Holdsworth Gold Property in
Ontario plus a core holding of 3.5 million shares in Wits Basin Precious
Minerals Inc. (OTCBB: WITM), which company is currently funding a gold
exploration program in South Africa operated by AfriOre Limited.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Hawk Precious Minerals Inc.
    H. Vance White
    President
    416-214-2250 or 866-214-9486
    416-214-5599 (FAX)
    or
    Hawk Precious Minerals Inc.
    Walter Brooks
    Director
    416-214-2250 or 866-214-9486
    416-214-5599 (FAX)
    or
    Ensign Communications
    Tim German
    Investor Relations
    416-728-4221