Oracle Ridge Copper Mine - Tucson, Arizona
2.17% copper - Production facility construction is expected to begin in the first half of 2012
Message: Issues Shares to Advisor
| February 6, 2009 |
| Gold Hawk Issues Shares to Advisor |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 6, 2009) - Gold Hawk Resources Inc. ("Gold Hawk" or the "Company") (TSX VENTURE:CGK) announces that the Company has issued shares to a financial advisor to the Company as payment for services rendered regarding a private placement last year. In accordance with the policies of the TSX Venture Exchange and approval of the private placement, the Company issued 3,322,785 common shares to a financial advisor as a commission relating to the private placement completed in July 2008. All securities distributed to the financial advisor are subject to a four-month hold period expiring on May 8, 2009. Following the issuance of the Common Shares, the Company now has 229,444,929 Common Shares issued and outstanding. About Gold Hawk Resources Inc. Gold Hawk (TSX VENTURE:CGK) is a Canada-based precious and base metals company with reserves and resources containing gold, silver, lead, zinc and copper. Since the acquisition of the wholly owned Coricancha mine in Peru in March 2006, the mine and concentrator were refurbished and commercial production status was achieved on October 1, 2007. The rated capacity of the processing facility is approximately 600 tonnes of ore per day. In early May 2008, the Company detected evidence of ground movement uphill and near the tailings handling area and processing plant. As a precautionary measure, company management immediately suspended plant operations and tailings placement pending further investigation of the extent of the movement. Geotechnical consultants subsequently determined the cause of the movement was due to excessive irrigation by third parties of the hillside above the tailings and processing plant. As a result of mitigation measures taken by the Company and termination of use of the irrigation system, the ground movement ceased as of the end of July 2008. On January 7, 2009 the Company received its final permit to construct a new permanent tailings facility at Chinchan and has all of the other permits required for the restart of the mine. Gold Hawk is based in Vancouver, Canada and is operated by an experienced management team. Gold Hawk and its wholly owned subsidiary, Compania Minera San Juan (Peru) S.A. also have exploration properties in Peru and Canada (Quebec), and are actively pursuing other growth opportunities. |
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