Oracle Ridge Copper Mine - Tucson, Arizona
2.17% copper - Production facility construction is expected to begin in the first half of 2012
Message: Amends Stock Option Plan and Grants Options
| April 20, 2009 |
| Gold Hawk Amends Stock Option Plan and Grants Options |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 20, 2009) - Gold Hawk Resources Inc. ("Gold Hawk" or the "Company") (TSX VENTURE:CGK) advises that the Board of Directors has approved an amendment to the Company's Stock Option Plan increasing the number of shares reserved for issuance under the plan. The amendment has received conditional acceptance from the TSX Venture Exchange. The plan was last amended on December 19, 2007. The Board of Directors approved an increase in the maximum number of shares reserved for issuance under the plan to 20,000,000 (7.0% of the issued and outstanding common shares of the Company), including a transfer of 7,460,000 unexercised options previously granted. Subject to regulatory approval, the Board of Directors has granted stock options to directors, officers and employees of the Company as well as to employees of its wholly owned subsidiary, Compania Minera San Juan (Peru) S.A. Options were granted to purchase 6,440,000 common shares in the capital of the Company, exercisable for a period of five years at a price of $0.05 per share. The employee share options vest one-third immediately upon the date of grant, one-third will vest 12 months from the date of grant and the final one-third of the options will vest 24 months from the date of grant. Share options granted to Directors vest immediately. Following regulatory approval, the Company will have 6,100,000 remaining options available for grant under the Stock Option Plan. About Gold Hawk Resources Inc. Gold Hawk (TSX VENTURE:CGK) is a Canada-based precious metals company with reserves and resources containing gold, silver, lead, zinc and copper and a near-term production project at the Coricancha Mine and 600 tonnes of ore per day processing facility, located 90kms east of Lima, Peru. 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 re-start 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). |
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