HAWKEYE CLOSES $503,000 NON-BROKERED PRIVATE PLACEMENT

Vancouver, British Columbia, Canada – HAWKEYE Gold & Diamond Inc. (the “Company” or “HAWKEYE”) (TSX.V-HAWK; Frankfurt Ticker: HGT; WKN: A12A61 ISIN: CA42016R3027): is pleased to announce it has closed upon the $500,000 non-brokered non-flow-through and flow-through unit financing originally announced on August 6, 2019 (news release No. 317 – 2018). Upon closing of the placement, the Company issued 5,840,000 non-flow-through units at a price of 0.05 per unit (“Common Unit”) and 4,220,000 flow-through units at a price of $0.05 per unit (“Flow-Through Unit”) for total proceeds of $503,000 (CDN).

Each Common Unit consists of one non-flow through common share of the Company and one transferable share purchase warrant, with each such warrant entitling the holder to acquire one common share at a price of $0.10 per common share for a period of twenty-four (24) months expiring September 16, 2021.

Each Flow-Through Unit consists of one flow-through common share of the Company and one half of a transferable share purchase warrant, with each such full warrant entitling the holder thereof to acquire one non-flow-through common share at a price of $0.10 per common share for a period of twelve (12) months expiring September 16, 2020.

If the Issuer’s common shares have a closing price of $0.20 (CDN) or more per share for ten consecutive trading days on the TSX Venture Exchange (the “TSXV”), the Corporation shall be entitled to give notice to the holders of the warrants issued pursuant to the Flow-Through Units and Common Units that such warrants will expire thirty days from the date of mailing of such notice or the news release of such notice, unless such warrants are exercised before the expiry of that period, and in such event all unexercised warrants will expire at 4:30 p.m. (Vancouver time) on the last day of such thirty day period. None of the warrants issued pursuant to the Offering will be listed for trading.

Proceeds from the Offering will be used for general working capital, trades and exploration expenditures..

Finders’ fees totaling $20,080 in cash was paid and 401,600 finders’ fees broker warrants were issued in connection with closing of the private placement. The broker warrants are subject to the same terms and conditions of the warrants connected to the Flow-Through and Common Units.

The Flow-Through Units, the Common Units and the underlying securities issued pursuant to the private placement offering will be subject to a four month hold period expiring January 17, 2020.

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.