Hawk Uranium Inc.
TSX VENTURE : HUI

Hawk Uranium Inc.

March 03, 2008 16:14 ET

Hawk Uranium Inc. Receives Preliminary Airborne Geophysical Results from Noront on "Ring of Fire" Option Ground

TORONTO, ONTARIO--(Marketwire - March 3, 2008) - Hawk Uranium Inc. (TSX VENTURE:HUI) ("Hawk") is pleased to announce that it has received from Noront Resources Ltd. (TSX VENTURE:NOT) ("Noront") a preliminary review of the heilcopter borne geophysical survey recently carried out over the property in the McFaulds Lake "Ring of Fire" area of Northern Ontario in respect of which Hawk has acquired an option for a 50% interest from Noront. A number of airborne geophysical targets that are of interest have been identified, and further interpretation of the potential of the anomalies from the survey is being completed by Scott Hogg & Associates. Noront is the Operator for the Hawk-Noront option property. Billiken Management Services Inc., the Project Manager for the Operator, are in the process of preparing a detailed work program, which will include follow up line-cutting, geophysical surveying and diamond drilling.

H. Vance White, President of Hawk, said: "We are very pleased with the progress being made on the property subject to our optioned interest from Noront and feel that this entire "Ring of Fire" play may well develop into a new Ontario mining camp. There is no doubt that Noront is leading the way with the Eagle One discovery, and now the Eagle Two step out discovery."

Under the option agreement between Hawk and Noront, upon Hawk earning its 50% interest in the property the parties will form a joint management committee to further develop the property as a joint venture, with Noront continuing to act as the Operator.

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 Ltd. 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 near the Cluff Lake Uranium Mine within the Athabasca Basin of Saskatchewan, one uranium property in the Charlebois Lake area of the Northern Mining District 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: 1-866-214-9486
    or
    Hawk Uranium Inc.
    Walter Brooks
    Vice President
    (416) 214-2250 or Toll Free: 1-866-214-9486
    (416) 367-1954 (FAX)