Hawkeye Gold & Diamond Inc.

Hawkeye Gold & Diamond Inc.

December 14, 2007 09:00 ET

Hawkeye Gold & Diamond Inc.: Drilling Program Commenced at Swiss Bank Property-Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2007) - HAWKEYE Gold & Diamond Inc. (TSX VENTURE:HKO) (the "Company") is pleased to announce that the Company commenced a 2,000 foot drill program last week over its Swiss Bank Property which is located approximately 15 kilometres northwest of Lovelock in Pershing County, Nevada. Subsequent to an 11,460 foot drill program completed over the Property during June 2007 (see the Company's news release December 4, 2007), management decided to drill at least two more reverse circulation drill holes in the southern area of the property where it received anomalous gold values in the intersection area of a north-south fault zone and an east-west dike filled fault zone. The drill program has been designed to test at depth the down-dip extent of the north-dipping, east-west trending gold-bearing rhyolite dike to determine if higher grade values are present. Generally, in an epithermal type mineral system precious metal grades may increase as you penetrate deeper into the system.

The first hole was drilled to a total depth of 1,120 feet. Between 712 and 759 feet the drill intercepted sericitic porphyritic rhyolite with moderate-strong fracture and matrix limonite staining and occasional chalcedonic quartz veinlets and between the 860 to 1055 foot level, rhyolite intrusive and related intrusive breccia, sericitic alteration, clay seams, basement xenoliths, and moderate limonite was intercepted.

Unfortunately, due to bad weather and poor field conditions the Company could not continue with its drill program to test drill its second target at depth and the program was shut down after completion of the first hole.

All drill samples were collected following standard industry practice and are being assayed by American Assay Laboratories of Sparks, Nevada. Gold results will be determined using standard fire assay techniques on a 30 gram sample with an atomic absorption finish. Samples are being assayed by way of the 69 element 2 acid ICP analytical method. Numerous standards, blanks and duplicates were inserted into the sample stream for QA/QC.

All samples are being delivered to the assay laboratory and results are pending.


Greg Neeld, President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

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