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Hawk Sells Cluff Lake Uranium Claims
Toronto, November 27, 2009 – Hawk Uranium Inc. (TSX-V:HUI, FRANKFURT:HPM) (“Hawk”) announces that it has entered into an agreement with CanAlaska Uranium Ltd. (TSX.V: CVV) (“CanAlaska”) to sell Hawk’s 100% interest in mineral claims and project data for the Cluff Lake Project located in the Western Athabasca Basin, Saskatchewan in consideration for 1,250,000 CanAlaska shares and a cash payment of Cdn. $62,500.00. Hawk will retain a Net Smelter Return (NSR) of 2.5%, of which 2% will be purchasable by CanAlaska for payments of Cdn. $2.0 million. The agreement is subject to the approval of the TSX Venture Exchange.
In commenting on the disposition, Mr. White, Chairman of Hawk said, “the transaction will allow Hawk to focus its energies on projects that have more potential for near-term production. Additionally, Hawk is pleased to become a shareholder in CanAlaska, one of the most active exploration companies in the most prolific uranium producing area of the world.”
About Hawk Uranium Inc.
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 Uranium in N. Saskatchewan, Ontario and Quebec, Gold in N. Ontario and Nickel/Copper/PGM in the ‘Ring of Fire’ McFauld’s Lake Area of N. Ontario.
More detailed information is available on the website at www.hawkuranium.com.
Cautionary Statement:
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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.
Contacts: Hawk Uranium Inc. H. Vance White, Chairman Phone: 416-214-2250 Fax: 416-367-1954
Robert S. Stewart, President and CEO Phone: 480-778-8345
Corinna de Beer, Investor Relations Phone: 416-792-0343 eMail: ir@hawkuranium.com ..
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