VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 24, 2017) - HAWKEYE Gold & Diamond Inc. (the
"Company" or "HAWKEYE") (TSX VENTURE:HAWK)(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 Seller Creek Project (the
"Property) to acquire a 100% interest in the 5,367-hectare Property situated approximately 42 kilometres south-southeast of the
Town of Barkerville, BC, Canada. The Property includes claims located south of Cariboo Lake and contiguous to the western
boundary of HAWKEYE's Cariboo Valley and 2 Aces properties. The Property lies within the southeasterly-striking Snowshoe Group of
the Barkerville Terrane. This is the geological formation that hosts BGM's current gold mine development and exploration projects
and also underlies a number of historic to recent placer gold claims and base metal occurrences within and adjacent to the
Property.
About the Barkerville-Cariboo District
Placer gold was discovered and mined in the Cariboo Lake area along a number of drainages including Keithley, Snowshoe,
Simlock and Harveys Creeks starting in 1860. The town of Barkerville became established as the centre of the historic
Cariboo gold rush following the 1861-1862 discoveries to the north on Lightning Creek, Williams Creek and the surrounding area.
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 current principal property holder in the district,
announced resource definition on lode gold projects and large exploration programs focused along the NW to SE-directed high
strain zones in the Barkerville Terrane. In addition to gold, numerous polymetallic occurrences (Zn-Pb-Cu±Ag±Au) are reported in
vein, stringer stockwork and stratiform styles of deposition. Government publications and exploration assessment reports
indicated favourable geology, coincident multi-mode geochemical anomalies and strong geophysical targets for Kuroko, Besshi and
Mississippi Valley types of mineralization.
Message from the President
Mr. Greg Neeld, President & CEO states, "HAWKEYE continues to build a portfolio of precious metal and base metal properties in
the Barkerville-Cariboo gold district. The acquisitions place HAWKEYE in a historical mining centre continuously productive for
more than 150 years and with recent exploration successes and ongoing mine development activity. Our land position now has
increased to 21,471 hectares and we aim to acquire additional claims in the Barkerville Terrane. The Company has purchased the
Property based on its favourable location and regional geological features. The Seller Creek Property and our adjacent properties
are on geological strike with known lode gold and Zn-Pb-Cu projects, developing lode gold mines and past-producing placer gold
mines. 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. HAWKEYE looks forward to executing its exploration
programs on our properties."
The Seller Creek Project
HAWKEYE's Seller Creek Project is situated twenty (20) kilometres south of the historical Cariboo Hudson gold mine and the
Yanks Peak gold prospect within the Late Proterozoic to Paleozoic Snowshoe Group of the Barkerville Terrane. The principal
successions of the Snowshoe Group, the Keithley, Downey and Harvey's Ridge members, are comprised of siltstone, quartzite,
conglomerate and sandstone with lesser volcanics, black slate and limestone, which have undergone multi-stage deformation with
penetrative fabrics and regional metamorphism ranging from lower greenschist (chlorite) to locally amphibolite
(garnet-staurolite-kyanite) grade. The Frank Creek volcanics, part of the Harvey's Ridge succession, comprise andesites in
pillowed flows and tuffaceous deposits, with derived clastic sediments and felsic tuffs, the latter hosting stratiform and
stringer base metal occurrences. The Quesnel Lake Gneiss, which intruded the Snowshoe Group along the western boundary of the
Barkerville Terrane, is a leucocratic, biotite granitic gneiss with megacrysts of potassium feldspar.
The lithologies are characterized by shallow to steeply dipping, southeasterly striking, locally overturned folds with
northwesterly shear zones and plunging lineations, regional east-southeasterly striking thrust faults and later faulting along a
general north-northeast direction.
The principal style of gold mineralization is associated with high strain zones in favorable lithologies and parallels
magnetic features from regional and detailed airborne geophysics. Gold mineralization typically is associated with quartz veins,
iron carbonate (ankerite), and pyrite cutting amenable metasedimentary units of greenschist grade. Regional base metal targets
are focused mainly around Kuroko or Besshi style volcanogenic (VMS) mineralization as identified at the Frank Creek and several
other showings and prospects. The Sellers Creek occurrence comprises disseminated Cu-Pb-Zn sulphide and oxide-carbonate
mineralization within a quartz sandstone and marble sequence.
Previous work on the Property identified favourable geological units overprinted by extensive deformation and covered by
glacial deposits, and included regional geological mapping, airborne geophysics, line cutting and reconnaissance to focused soil
and stream geochemistry surveys. The Property exhibits widely spaced geochemical anomalies for gold, silver, copper, zinc and
lead, and select pathfinder elements such as bismuth, thallium, arsenic, antimony, selenium and mercury.
Agreement Details
The Seller Creek Property acquisition is subject to a $15,000.00 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 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 HAWK 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.
Per:
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: 18,256,442 shares