HAWK:CC - HAWKEYE Sells its B.C. Golden Triangle Properties to Newcrest
(TheNewswire)
Vancouver, British Columbia, Canada – TheNewswire - HAWKEYE Gold & Diamond Inc. (the “Company” or"HAWKEYE") (TSXV:HAWK ) ; ( Frankfurt:HGT ) ; ( WKN:A12A61 ) ( ISIN:CA42016R3027): is pleasedto announce it has entered into an Asset PurchaseAgreement (“Agreement”) to sell 100% of its interests in theMcBride, Railway, Boomerang and Todagin properties (“Properties”)to Newcrest Red Chris Mining Ltd. (“Newcrest”), a wholly-ownedsubsidiary of Newcrest Mining Limited ( ASX, TSX, PNGX: NCM) , for total consideration ofCAD$1,400,000. The sale is also subject to a royalty agreement infavour of Hawkeye by way of a separate royalty agreement furtherdescribed below.
The Properties are located in Tahltan First Nation Territorystrategically situated in the Golden Triangle of northwest BritishColumbia with the McBride, Railway and Todagin properties beingsituated contiguous to the border of and in close proximity toNewcrest’s (70% interest) and Imperial Metal Corporation’s (30%interest) (TSX: III) Red Chris Mine. The Boomerang Property isapproximately 25 kilometres northwest ofTeck Resources Limited’s and Copper Fox Metals Inc.’s Schaft Creek deposit andapproximately 50 kilometres north of the Galore Creek deposit held byTeck Resources Limited and Newmont Corporation .
Hawkeye will also retain a 2% Net Smelter Royalty (NSR)on each of the Properties. Newcrest may purchase the first 1% of theNSR on each of the Properties for cash consideration of CAD$1,500,000.Thereafter, Newcrest may purchase a further three-quarters of theremaining NSR on each of the Properties by paying Hawkeye anadditional CAD$1,000,000 in cash. Thereafter, Hawkeye will retain a0.25% NSR interest in each Property. Newcrest’s entitlement topurchase these portions of the NSR will terminate sixty (60) days fromthe commencement of construction of a mine on each property. The NSRis also subject to a right of first refusal in favour ofNewcrest.
All amounts are in Canadian dollars.
The sale of the Properties is subject to TSX Venture Exchangeapproval.
About HAWKEYE
HAWKEYE Gold & Diamond Inc. is a junior mineralexploration and development company based in Vancouver, BritishColumbia (BC), Canada. The Company's precious and base metalsproperties are located in the prolific Golden Triangle of northwestBC, in the world-class Barkerville gold camp situated in the historicCariboo Mining District of central BC, and on Vancouver Island, BC,Canada. HAWKEYE's corporate mandate is to build strong asset growthand shareholder value through the acquisition of low-cost,high-potential opportunities with discovery potential, and to manageits business in an environmentally responsible manner whilecontributing to the local community and economy.
HAWKEYE GOLD & DIAMONDINC.
Per:
“Greg Neeld”
President & CEO
Vancouver: (604) 908-8511
Email: greg@hawkeyegold.com
Web Site: www.hawkeyegold.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Cautionary NotesRegarding Forward Looking Statements
This News Release containsforward-looking statements. Forward-looking statements arestatements that relate to future events. These statements are onlypredictions and involve known and unknown risks, uncertainties andother factors that may cause our or our industry’s actual results,levels of activity, performance or achievements to be materiallydifferent from any future results, levels of activity, performance orachievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions uponwhich they are based, are made in good faith and reflect our currentjudgment regarding the direction of our industry, actual results willalmost always vary, sometimes materially, from any estimates, predictions, projections,assumptions or other future performance suggested herein. Except asrequired by applicable law, the Company does not intend to update anyof the forward-looking statements to conform these statements toactual results.
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