Redhawk Resources, Inc.
TSX VENTURE : RDK
FRANKFURT : QF7

Redhawk Resources, Inc.

May 07, 2009 21:07 ET

Redhawk Arranges Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2009) - Redhawk Resources, Inc. ("Redhawk" or the "Company") (TSX VENTURE:RDK)(FRANKFURT:QF7) is pleased to announce that it has arranged a non-brokered private placement (the "Private Placement") of up to 5,000,000 units at a price of $0.10 per unit to raise gross proceeds of up to $500,000. Each unit will consist of one common share and one transferable common share purchase warrant. Each share purchase warrant will be exercisable into one additional common share for a period of one year at a price of $0.15 per share. In connection with the Private Placement, Redhawk may pay to certain eligible finders a cash finders fee of up to 10% of the gross proceeds of the Private Placement or a portion thereof.

The proceeds of the private placement will be used for the continuing development of Redhawk's Copper Creek project in Arizona and for general working capital. The Private Placement is subject to TSX Venture Exchange approval.

About Redhawk

Redhawk is a Canadian-based resource exploration and development company with primary focus on the accelerated development of its advanced stage Copper Creek copper-molybdenum project in San Manuel, Arizona. The Company also has two gold/silver properties in Nevada.

The 100% owned Copper Creek property consists of approximately seven square miles of almost totally contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona and about 15 miles east of San Manuel. The property is in the prolific southwest US porphyry copper belt at the projected intersection of a major northwest belt of porphyry copper deposits or mines (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east-northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci). The property is within sight of the former BHP Kalamazoo/San Manuel copper smelter and mine and within 30 miles of an existing operating copper smelter. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure.

ON BEHALF OF THE BOARD

J. Stephen Barley, Managing Director

The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, Redhawk does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Redhawk to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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