Redhawk Resources, Inc.
TSX : RDK
OTCQX : RHWKF
FRANKFURT : QF7

Redhawk Resources, Inc.

August 08, 2012 07:30 ET

Redhawk Resources Announces Results of Final 2011-2012 Resource Expansion and Upgrade Drilling at Copper Creek Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 8, 2012) - Redhawk Resources, Inc. (TSX:RDK)(OTCQX:RHWKF)(FRANKFURT:QF7) -

  • Additional drilling encounters thick mineralized zones including
    • 1834 ft. (558m) 0.40% Cu, 0.014% Mo, 2.52 ppm Ag
    • 890 ft. (271m) 0.40% Cu, 0.008% Mo, 2.80 ppm Ag
    • 1427 ft. (435m) 0.30% Cu, 0.006% Mo, 2.48 ppm Ag
  • Significant high grade zones including
    • 210 ft. (64m) 1.38% Cu, 0.001% Mo, 2.15 ppm Ag
    • 180 ft. (55m) 0.54% Cu, 0.004% Mo, 1.32 ppm Ag
    • 362 ft. (110m) 0.66% Cu, 0.014% Mo, 3.39 ppm Ag
    • 210 ft. (64m) 0.68% Cu, 0.007% Mo, 5.13 ppm Ag

Redhawk Resources, Inc. ("Redhawk" or the "Company") is pleased to announce the results of seven final drill holes of the 2011-2012 resource expansion and definition program. (See attached map for drill hole locations: http://media3.marketwire.com/docs/rdk88i.pdf).

2011-2012 Resource Expansion and Upgrade Drill Program

The 2011-2012 drill program is focused on increasing the connection and consequent resource expansion between the Keel and American Eagle (AE) porphyry areas and infill drilling to move a considerable portion of the AE resource and more of the Keel resource into the Measured and Indicated categories for a Pre-Feasibility Study that is currently underway.

Since the results from earlier drilling of the 2011 program (see prior news releases dated June 1, 2011, September 12, 2011, November 29, 2011, and January 24, 2012, March 15, 2012), assay results for seven additional core holes have now been received for:

  1. RAE-11-061 drilled vertically to total depth 4153 feet (1266m)
  2. RAE-11-064 drilled vertically to total depth 4217 feet (1285m)
  3. RMK-12-068 drilled S2W at -83 degrees to total depth 4857.5 feet (1481m)
  4. RMK-12-069 drilled S66Wat -83 degrees to total depth 4237 feet (1291m)
  5. RMK-12-071 drilled E at -81.5 degrees to total depth 4343.5 feet (1324m)
  6. RMK-12-076 drilled N33E at -78 degrees to total depth 4137 feet (1261m)
  7. RMK-12-077 drilled S6E at -82 degrees to total depth 4263 feet (1299m)

Significant intervals are shown below. All of the holes are infill/resource upgrade holes or short step-out expansion holes in the AE and Keel resource areas. The drill holes listed above and shown with detailed significant intervals below were still in progress or not started before the data cutoff date for the May 10, 2012 NI43-101 compliant resources update by Independent Mining Consultants, Inc. The Company anticipates the results from these seven holes in conjunction with additional resource work currently being completed will be included in an updated resource report being issued late this year or early 2013.

RAE-11-061
Start ft end ft thickness ft Cu% Mo% Ag ppm
80 160 60 0.25 0.001 1.05
450 660 210 1.38 0.001 2.15
660 680 20 0.27 0.001 0.76
700 740 40 0.72 0.001 1.42
1616 1796 180 0.54 0.004 1.32
2547 3815 1268 0.28 0.006 0.59
Including
2577 2765 188 0.35 0.001 1.17
2795 3195 400 0.42 0.011 0.81
Including
2876 2975 99 0.67 0.012 1.27
3005 3035 30 0.45 0.019 0.74
3110 3195 85 0.57 0.009 1.06
3255 3285 30 0.40 0.021 0.62
RAE-11-064
Start ft end ft thickness ft Cu% Mo% Ag ppm
2513 2531 18 0.44 0.004 1.58
2621 2642 21 0.38 nil 1.20
2917 2967 50 0.38 0.002 1.22
3016 3176 160 0.24 0.003 0.54
Including
3016 3036 20 0.52 0.020 1.05
3247 3656.5 409.5 0.28 0.002 0.58
Including
3247 3367 120 0.47 0.003 0.96
Including
3247 3280 33 0.89 0.002 1.65
3337 3367 30 0.52 0.004 1.03
4127 4160 33 0.37 0.004 0.74
RMK-12-068
Start ft end ft thickness ft Cu% Mo% Ag ppm
2257 2287 30 0.37 0.001 0.53
2472 2625 153 0.21 0.002 0.39
2685 2725 40 0.29 0.011 1.46
2765 4599 1834 0.40 0.014 2.52
Including
2898 2946 48 0.49 0.012 2.50
3022 3062 40 0.99 0.007 2.24
3103 3465 362 0.66 0.014 3.39
3555 3595 40 0.49 0.026 2.81
4175 4239 64 0.87 0.019 8.72
4259 4299 40 0.44 0.020 2.26
4389 4599 210 0.68 0.007 5.13
RMK-12-069
Start ft end ft thickness ft Cu% Mo% Ag ppm
1590 1610 20 0.37 0.005 1.49
1835 1855 20 0.33 0.002 5.45
1890 1975 85 0.14 0.026 0.27
2125 2300 175 0.25 0.008 0.52
2400 2607 207 0.27 0.003 0.53
Including
2480 2500 20 0.56 0.005 0.82
2532.5 2607 74.5 0.34 0.003 0.78
2657 3547 890 0.40 0.008 2.80
Including
2763 2805 42 0.51 0.021 1.79
2860 2910 50 0.44 0.017 1.84
2960 3430 470 0.48 0.004 3.71
3465 3509 44 0.49 nil 4.37
3587 3667 80 0.42 0.002 1.30
3803 3832 29 0.56 0.002 5.09
3922 3972 50 0.21 0.003 2.71
RMK-12-071
Start ft end ft thickness ft Cu% Mo% Ag ppm
2435 3862 1427 0.30 0.006 2.48
Including
3070 3160 90 0.48 0.010 1.98
3330 3370 40 0.91 0.034 6.65
3632 3652 20 0.73 0.001 3.32
3667 3717 50 0.44 0.001 3.91
3737 3795 58 0.99 0.009 14.78
4023 4055 32 0.22 0.001 1.69
RMK-12-076
Start ft end ft thickness ft Cu% Mo% Ag ppm
2295 2510 215 0.38 0.006 1.93
Including
2295 2340 45 0.46 0.007 1.66
2360 2380 20 0.41 0.020 2.06
2430 2460 30 0.62 0.006 5.21
2520 2590 70 0.22 0.003 1.24
2720 2770 50 0.22 0.006 0.35
2790 3008 218 0.22 0.015 0.75
Including
2790 2814 24 0.35 0.094 0.84
3103 3165 62 0.22 0.007 0.60
3315 3340 25 0.27 0.002 1.01
3487 3560 73 0.23 0.017 0.87
RMK-12-077
Start ft end ft thickness ft Cu% Mo% Ag ppm
1276 1316 40 0.28 0.002 1.28
1436 1466 30 0.42 0.009 2.12
2116 3966 1850 0.21 0.005 0.91
Including
2701 2816 115 0.30 0.007 1.33
2961 3069 108 0.31 0.005 1.57
3416 3446 30 0.31 0.005 1.24
3496 3586 90 0.28 0.004 1.49
3722 3796 74 0.33 0.013 1.65

True thicknesses have not been determined.
(ft = feet, % = percentage, ppm = parts per million, na = not assayed, Cu = copper, Mo = molybdenum, Ag = silver, nil = below detection)

R. Joe Sandberg, Redhawk President and CEO, stated, "Redhawk's 2011-2012 resource upgrade and expansion drilling program produced very encouraging results. The drilling results reported above will be used along with the resource reported in the Independent Mining Consultants, Inc. June 25, 2012 NI 43-101 compliant report to evaluate potential mining options for the Copper Creek Project. The options being evaluated are open pit and larger scale underground and Redhawk and its external consultants continue their work to arrive at a decision in regard to the best mining alternative. Efforts are also continuing on geotechnical evaluations, underground and open pit mining options, metallurgical testing, hydrology and ground water, engineering, and permitting. Metallurgical results from the final "locked cycle" tests are expected in the next several weeks and will be reported when final results are known. We believe the outcome of these efforts will continue to move Copper Creek closer to a production decision. As the project advances we are continually adding to both our internal and external staff to support the development of Copper Creek. Redhawk has formed a search committee to find an additional well qualified member for the board of directors having experience in development and production stage mining projects."

R. Joe Sandberg, CPG, Redhawk President, CEO and a Qualified Person under the meaning of NI 43-101, is responsible for the technical content of this news release.

All core samples are picked up on site by Redhawk geologists or delivered by the drillers to Redhawk personnel. All samples are delivered by Redhawk personnel to ALS Laboratory Group ISO 9001:2000 & ISO 17025 in Elko, NV or Reno, NV for assay or to Jacobs Assay Office Registered Assayers in Tucson, AZ for sample preparation to pulps and shipped by Jacobs using UPS to ALS in Reno, NV. Check assay standards are submitted with each assay job, and reviewed for accuracy. Check assaying is being performed by Inspectorate and KD Engineering/Metcon.

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 100% owned Copper Creek property consists of approximately thirty square miles of 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 mill and smelter. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure including power, rail, water, roads and qualified consultants.

ON BEHALF OF THE BOARD

R. Joe Sandberg, President & CEO

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 Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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