VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 16, 2017) - HAWKEYE Gold & Diamond Inc. (the "Company" or "HAWKEYE")
(TSX VENTURE:HGO)(FRANKFURT:HGT)(ISIN:CA42016R3027)(WKN:A12A61): is pleased to announce it has entered into a Sale and
Purchase Agreement (SAPA) with the vendor of the Barkerville 2 Aces Project (the "Property) to acquire a 100% interest in the
5,044 hectare Property situated approximately 32 kilometres southeast of the Town of Barkerville, BC, Canada. The Barkerville 2
Aces Project lies within the southeasterly-striking Snowshoe Group of the Barkerville Terrane. This is the geological formation
that hosts Barkerville Gold Mines' ("BGM") current gold exploration and mine development projects, including Island Mountain, Cow
Mountain and Bonanza Ledge.
About the Barkerville-Cariboo District and BGM
Barkerville was the centre of the historic Cariboo gold rush starting in 1860. The recorded production estimate from 1861-1987
reported more than 5,000,000 ounces of gold which included 3,800,000 ounces from placer operations and 1,230,000 ounces from lode
mining. Recently, BGM, the principal property holder in the district, has announced resource definition on lode gold projects and
large exploration programs focused along the Cariboo Break. BGM has eight (8) drills conducting a 130,000 metre drill program in
2017 and has released many positive results. BGM also plans to complete 120,000 metres of drilling during 2018 and 2019.
Message from the President
Mr. Greg Neeld, President & CEO states, "HAWKEYE is excited to be involved in the Barkerville-Cariboo gold district. It places
HAWKEYE in a historical mining district continuously productive for more than 150 years and with recent exploration successes and
ongoing mine development activity. The 2 Aces Property is on strike with the Cariboo structural trend which transects many of the
past-producing gold mines. The Company has purchased the Property based on its highly favourable location, geology and
geophysical features as a first step to additional strategic and prospective acquisitions in the Barkerville area. BGM is
drilling 250,000 metres within two years and its success identifying greenfield drill targets points to increased potential and
opportunity within the Barkerville-Cariboo gold district. We look forward to implementing our exploration program on the
Property."
The 2 Aces Project
The Barkerville 2 Aces Project is situated six (6) kilometres southeast of the historical Cariboo Hudson Mine between Cariboo
Lake and the north arm of Quesnel Lake within the Late Proterozoic to Paleozoic Snowshoe Group of the Barkerville Terrane. The
Snowshoe Group is comprised of siltstone, conglomerate, and sandstone with lesser volcanics and carbonates, which have undergone
multi-stage deformation with penetrative fabrics and metamorphism ranging from greenschist to amphibolite grade.
The lithologies are characterized by moderate to steeply dipping, southeasterly striking, locally overturned folds, with
regional southeasterly striking thrust faults and later faulting along a general north-northeast direction.
The Property contains favorable geological units overprinted by extensive deformation on strike with a known corridor of gold
mineralization. This southeasterly-oriented regional feature (Cariboo Break) includes a number of known gold deposits, past hard
rock and placer gold producers, and numerous bedrock occurrences. The principal mineralization is associated with high strain
zones and parallels magnetic features from regional and detailed airborne geophysics tracing from northwest of Barkerville to the
southeast through the Property.
Previous work on the Property included geological mapping, airborne geophysics, and reconnaissance soil and stream
geochemistry surveys. The Property exhibits geochemical anomalies for gold, arsenic and other heavy metals. Float and bedrock
occurrences on and adjacent to the Property include gold in quartz veins or silicified replacement zones. The known Ace
occurrence, along strike between the HAWKEYE claims, also includes intervals of semi-massive chalcopyrite, sphalerite and galena
associated with polymetallic Cu-Zn-Pb-Au-Ag based on the Kuroko or Besshi-type model, and carbonate-hosted Pb-Zn mineralization.
In addition to these sulphides, native gold, bornite and malachite also are identified along the northwesterly trend to the
past-producing Cariboo Hudson gold mine and to the southeast towards Quesnel Lake.
Agreement Details
The Barkerville 2 Aces Property acquisition is subject to a $9,000.00 cash payment and the issuance of 50,000 shares and a
further 250,000 share issuance should the project proceed to a pre-feasibility study. The acquisition is not subject to an NSR.
The Sale and Purchase Agreement between HAWKEYE and the Vendor is subject to TSX approval.
HAWKEYE has a right of first refusal on certain other properties staked and controlled by the Vendor within the historical
Barkerville-Cariboo district.
Qualified Person
Greg Davison, M.Sc., P.Geo., Senior Technical Advisor to HAWKEYE is the Company's designated Qualified Person within the
meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Davison has prepared,
reviewed and validated that the technical information contained within this release is accurate.
About HAWKEYE
HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and development company based in Vancouver, British Columbia,
Canada and is publicly traded on the TSX Venture Exchange under the trading symbol HGO and the Frankfurt Exchange under the
ticker HGT; ISIN# CA42016R3027 and WKN# A12A61. HAWKEYE's corporate mandate is to build strong asset growth and shareholder value
through the acquisition of low-cost, high-potential cash flow and production opportunities with blue sky discovery potential, and
to manage our business in an environmentally responsible manner while contributing to the local community and economy.
HAWKEYE GOLD & DIAMOND INC.
Greg Neeld, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Notes Regarding Forward-Looking Statements
This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future
events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause
our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these
forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current
judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any
estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable
law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual
results.
Issued: 17,875,897 shares