HAWKEYE Lab Assay Results Update

VANCOUVER, BC / ACCESSWIRE / January 31, 2020 / HAWKEYE Gold & Diamond Inc. (the "Company" or "HAWKEYE") (TSXV:HAWK)(Frankfurt Ticker:HGT) (ISIN: CA42016R3027; WKN: A12A61): announces thatthere will be a delay inthe Company announcing assay results from its October 2020 drill program until the end of February, possibly early March 2020. Core from the 703.17 metre drill program was sent to the Lab during late October 2019. This delay is a result of the Lab asking for payment in advance before releasing assay results to the Company and due to bad market conditions resulting in Hawkeye not being able to close the second tranche of a $500,000 private placement totaling $281,000 (refer to news release No. 340 - 2020 dated January 9, 2020). Management is in discussions intending to arrange for short term financing and/or a private placement and will keep our shareholders and the investment community updated regarding this matter. The Company and its geologists have no knowledge of the assay results which will be released as soon as Hawkeye receives results from the Lab and our geologists have had time to review the report.

About HAWKEYE

HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and development company based in Vancouver, British Columbia, Canada. The Company's precious and base metals properties are located in the prolific Golden Triangle of northwest BC, in the world-class Barkerville gold camp, and on Vancouver Island, BC, Canada. HAWKEYE's corporate mandate is to build strong asset growth and shareholder value through the acquisition of low-cost, high-potential opportunities with discovery potential, and to manage its business in an environmentally responsible manner while contributing to the local community and economy.

HAWKEYE GOLD & DIAMOND INC.

Per:

"Greg Neeld"

President & CEO
Vancouver: (778) 379-5393
Email: greg@hawkeyegold.com
Web Site: www.hawkeyegold.com

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.

SOURCE: HAWKEYE Gold & Diamond Inc.