Redhawk Resources, Inc.

Redhawk Resources, Inc.

April 04, 2006 09:00 ET

Redhawk Closes $2.7 Million Financing; Arizona Copper Creek Project Accelerated

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2006) - Redhawk Resources, Inc. ("Redhawk") (TSX VENTURE:RDK) is pleased to report the $2.7 million non-brokered private placement of 6 million units at $0.45 per unit has closed. Each unit consists of one common share and one share purchase warrant. Each warrant may be exchanged for one common share at $0.65 if exercised within the first 12 months from the date of issue and at $0.85 thereafter up to 24 months from the date of issue. A finder's fee of $108,000 and 240,000 shares has been paid to WestPoint Merchant Ventures Inc. for arranging this financing. All securities are subject to a four month hold period in Canada expiring on July 31, 2006.

These funds will be used to advance the development of Redhawk's seven square mile Copper Creek copper-molybdenum project in Arizona, including accelerating the logging and re-logging of the more than 407,000 feet (77 miles) of drilling completed at Copper Creek from the mid 1960's to 2000, and for general corporate purposes.

As each critical phase of the core logging and re-logging program is completed, the information is being input to the 3-D geological computer model that is currently under development. Among other information, this model will show the project's current deposits, existing drill holes, the location of new exploration and resource development holes and exploration targets. In addition, this information will be part of the information being used by the independent geological and mine engineering consultants engaged by Redhawk to calculate the current and future mineral resources at Copper Creek.

Copper Creek is located in the southwest porphyry copper belt in Arizona, 75 road miles northeast of Tucson and 15 miles northeast of the town of San Manuel, where Redhawk's project office is located. This region of Arizona contains a complete range of local and regional domestic and copper mining infrastructure. According to the March 2006 Fraser Institute Report, Arizona is ranked as one of the best regions in the world (#4) to explore for and to develop a mine.

"Redhawk is focused on the rapid development of our Copper Creek project and this financing allows us to move ahead much more quickly," stated Kristian Ross, President of Redhawk. "To this end we are pleased to report that we have delivered the drill hole and other information to Independent Mining Consultants Inc. ("IMC") based in Tucson, Arizona, needed by IMC to prepare a determination and report of mineral resources at Redhawk's Copper Creek project in accordance with Canadian National Instrument NI 43-101."

Ross added: "Given expectations for continued strong worldwide demand, strong pricing and long duration of the current demand cycle for base metals, this is a very exciting time to be involved in an advanced-stage copper development project, especially one so well situated as Copper Creek."

About Redhawk

Redhawk is a Canadian based resource exploration and development company with base metals projects in Arizona and British Columbia. Redhawk's primary focus is on the rapid development of its advanced-stage Copper Creek copper-molybdenum project in Arizona. Redhawk also owns the Remac Zinc project in British Columbia. Remac is located 35 km southeast of Cominco's zinc-lead smelter complex at Trail and 10 km north of Cominco's Pend Oreille zinc mine and concentrator at Metalline Falls.

The TSX Venture Exchange has neither approved nor disapproved this release.

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