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HAWKEYE Gold & Diamond Inc. (TSX.V-HAWK) (FRA:: HGT) (WKN: A12A61 ISIN: CA42016R3027): is pleased to announce it has entered into an Asset Purchase Agreement to sell 100% of its interests in the McBride, Railway, Boomerang and Todagin properties to Newcrest Red Chris Mining Ltd. a wholly-owned subsidiary of Newcrest Mining Limited (ASX, TSX, PNGX: NCM), for total consideration of CAD$1,400,000. The sale is also subject to a royalty agreement in favour of Hawkeye by way of a separate royalty agreement further described below.


The Properties are located in Tahltan First Nation Territory strategically situated in the Golden Triangle of northwest British Columbia with the McBride, Railway and Todagin properties being situated contiguous to the border of and in close proximity to Newcrest’s (70% interest) and Imperial Metal Corporation’s (30% interest) (TSX: III) Red Chris Mine.  The Boomerang Property is approximately 25 kilometres northwest of Teck Resources Limited’s and Copper Fox Metals Inc.’s Schaft Creek deposit and approximately 50 kilometres north of the Galore Creek deposit held by Teck Resources Limited and Newmont Corporation.


Hawkeye will also retain a 2% Net Smelter Royalty (NSR) on each of the Properties.  Newcrest may purchase the first 1% of the NSR on each of the Properties for cash consideration of CAD$1,500,000. Thereafter, Newcrest may purchase a further three-quarters of the remaining NSR on each of the Properties by paying Hawkeye an additional CAD$1,000,000 in cash. Thereafter, Hawkeye will retain a 0.25% NSR interest in each Property.  Newcrest’s entitlement to purchase these portions of the NSR will terminate sixty (60) days from the commencement of construction of a mine on each property.  The NSR is also subject to a right of first refusal in favour of Newcrest.


All amounts are in Canadian dollars.


The sale of the Properties is subject to TSX Venture Exchange approval.



About the Company

HAWKEYE Gold & Diamond Inc. is a junior mineral exploration and development company based in Vancouver, British Columbia, Canada HAWKEYE’s corporate mandate is to build strong asset growth and shareholder value through the acquisition of low-cost, high potential cash flow and production opportunities with Blue Sky upside, and to manage our business in an environmentally responsible manner while contributing to the local community and economy.


Posted March 30, 2022

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