Toronto, ON – December 11, 2008 – Hawk Uranium Inc. (TSX-V:HUI, FRANKFURT:HPM) (“Hawk��� or the “Company���) has initiated steps to extend the term and reduce the exercise price of outstanding warrants exercisable for a total of 20,348,316 of its common shares.�  These warrants were issued as part of a private placement that closed in three tranches on January 9, 2007, January 19, 2007 and February 9, 2007.� �  Gross proceeds of approximately $4,211,663 were raised in that private placement.�  None of these warrants have since been exercised, and they remain outstanding.

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As originally issued, these warrants have a term of two years, expiring on January 9, 2009, January 19, 2009 or February 9, 2009, depending on the date of issuance.�  Hawk proposes to extend the term of these warrants for an additional three years, with the result that they would expire on January 9, 2012, January 19, 2012 or February 9, 2012, as applicable.� 

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As originally issued, these warrants are exercisable at a price of $0.50 per common share (the “Exercise Price���). � Hawk is proposing to reduce the Exercise Price to (i) $0.10 per share from the effective date of the amendment until the end of the third year of each warrant's term, (ii) $0.15 per share during the fourth year of each warrant's term and (iii) $0.20 per share during the fifth year of each warrant's term.�  In addition, consistent with the policies of the TSX Venture Exchange, the term of these warrants would be shortened to 30 days (commencing seven calendar days after the tenth Premium Trading Day as hereinafter defined) if, for ten consecutive trading days (the “Premium Trading Days”) the closing price of Hawk’s common shares is greater than a pre-determined price (the "Premium Price") in excess the current Exercise Price.�  While the Exercise Price is $0.10 per share (in essence during the third year of each warrant's term), the Premium Price will be $0.133 per share.�  During the fourth year of each warrant's term, the Premium Price will be $0.20 per share.�  During the fifth year of each warrant's term, the Premium Price will be $0.266 per share.

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The proposed amendments to the term and Exercise Price of these warrants are subject to the approval of the TSX Venture Exchange.�  As a pre-condition for approving a reduction to the Exercise Price, the TSX Venture Exchange requires, among other things, that Hawk obtain the written consent of all of the warrant-holders to the requested changes to the Exercise Price.�  Hawk is in the process of contacting the applicable warrant-holders to request the required consents.�  If all required consents can be obtained in time, Hawk intends to submit an application to the TSX Venture Exchange requesting approval.

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If you are a warrant-holder who has not yet been contacted by Hawk regarding this matter, please immediately contact one of the representatives of Hawk identified below.

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About Hawk Uranium

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Hawk Uranium Inc. is a Canadian based junior mining company with a portfolio of diversified exploration projects at various stages of exploration and drilling, for Nickel/Copper/PGM in the ‘Ring of Fire’ McFauld’s Lake Area of N. Ontario, Gold in N. Ontario, Uranium in N. Saskatchewan, Ontario and Quebec, and P&NG Leases in S.W. Ontario.

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More detailed information is available on the website at www.hawkuranium.com

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CAUTIONARY STATEMENT

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The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.� �  No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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The foregoing information may contain forward-looking statements relating to the future performance of Hawk Uranium Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from Hawk's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Hawk with the TSX Venture Exchange and securities regulators.�  Hawk does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

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Contacts:

Hawk Uranium Inc.:

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