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Hawk Uranium Inc. Receives Preliminary Airborne Geophysical Results from Noront on "Ring of Fire" Option Ground
TORONTO, ONTARIO - 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.
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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.
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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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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For more information, please contact:
Hawk Uranium Inc.
H. Vance White
President
Phone No: (416) 214-2250 or Toll Free:1-866-214-9486
Walter Brooks
Vice President
(416) 214-2250 or Toll Free: 1-866-214-9486
Fax: (416) 367-1954 (FAX)
Source: Hawk Uranium Inc.
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