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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: GOLD HAWK RESOURCES INC. ME SYMBOL: CGK MARCH 10, 2000 Gold Hawk Reports Good and Meaningful Results at its Machacala Silver-Gold Property in Peru MONTREAL, QUEBEC--Gold Hawk Resources Inc., announces today results from an exploration and sampling survey conducted in January 2000 on part of its wholly owned Machacala gold-silver property located some 40 km east of the coastal city of Trujillo in Northern Peru. The property which covers more than 3,000 hectares is the site of former underground operation where 232,645 tonnes of ore were mined, between 1979 and 1991, by Minera Santa Isabel S.A. at an average grade of 10 oz Ag and 6.0 g Au per tonne. The mining took place at shallow depth via adit on only three of twelve near parallel major veins present there. They range from 0.5 to 2.5 km in length and are from 2 to 10 meters in width. Their dip is subvertical. Surface exploration shows vertical presence of mineralization from 2,800 to 3,100 m. All the veins are mineralized with gold and silver values and in between some of them there is presence of unexplored gold bearing stockwork systems. Generally speaking, on account of extensive alteration and lixiviation, surface values are deceiving. Underground values are good and roughly 55 % of vein material is ore grade. There is no sign of ore bottoming. Finally, there has never been a single hole drilled on the property. Emphasis in the short two week period passed on the property was mostly on four vein systems. Fragua, Casa Fuerza, San Juan de Velarde and Caridad. /T/ Results of Gold Hawk January Survey: 1.0 UNDERGROUND SAMPLING 1.1 Fragua Vein: Central part of vein system - Channel Samples Level 5 - Surface values 100 ppb Au. Section Width in Au Ag Remarks meter g/t g/t #1, at x-cut from adit 5.0 8.74 305 Vein is wider: First values is 8.9 g Au/t and last is 5.99 g Au/t #2, 10 m to S-E 2.0 8.57 530 Vein is wider: First value is 10.4 g Au/t and last is 21.16 Au/t #3, 40 m to S-E 1.7 1.1 4.96 Vein is in the leached out zone. Wall rock not seen. Conclusion: Fragua system has all the indications of becoming a major supplier of silver-gold ore due to its: - length - 2 km - width - 2 to 10 m - grade - 7 g/t Au, 300 g/t Ag and more 1.2 Casa Fuerza Vein - Western part of vein system very low surface values. - Line 29 plus 00 N - Could not enter old workings. - 3 kg of dump debris gave: 29.83 g/t Au and more than 500 g/t Ag. - Line 48 plus 00 N - Entered a tunnel, 1.5 m wide. - Channel sample gave: 1.03 g/t Au and more than 500 g/t Ag. Conclusions : Casa Fuerza vein system is an excellent drill target. Development and mining of this vein (two shallow levels) have produced a tonnage of 8 g/t Au. and 2.5 oz/t Ag. (less than 25,000 tonnes). Vein is from 1.0 to 3.0 m wide and has been followed over a distance of about 2.0 km. 1.3 San Juan de Velarde Vein - Central part of vein system. Not far from Fragua. This is the most important vein of the property (80 % of the production). Followed on surface over 2.2 km with a variation of elevation of more than 300 m. Average width of 4.5 m. Grade was between 6 and 8 oz Ag/ton and 3.5 to 5.0 g/t. Figures from three different small producers: Acre (1956 - 65), Triad (1970 - 72), Sta-Isabel (1979 - 1991). Spot samples taken (channels) - at 350 m N-W of mined zone, in tunnel #7 - 2 m at 0.65 g/t Au, 47 g/t Ag and - 2 m at 0.84 g/t Au, 275 g/t Ag. - at 500 m N.W. of main mined zone, across a small inclined shaft: 1 m at 6.0 g/t Au, .285 g/t Ag. 2.0 SURFACE SAMPLING - (all channels) - Surface samples are usually low. 2.1 Caridad veins - Eastern part of vein system 2.1.1 Caridad 1 Line 34 plus 60 N 3.1 m @ 2.9 g/t Au and 21.0 g/t Ag. Line 36 plus 50 N 3.6 m @ 2.4 g/t Au and 162.0 g/t Ag. 2.1.2 Caridad 2 Line 32 plus 50N 3.5 m @ 0.7 g/t Au, low Ag. values Line 34 plus 60N 4.0 m @ 0.26 g/t Au, low Ag. values Conclusion: The Caridad system is more than 2.0 km in length and is of extreme importance due to the stockwork systems present between the two veins and perhaps on the outside. It has never been tested underground. 2.2 Caridad stockwork system - All channel samples 2.2.1 Upper trench - Line 34 plus 00 N 1. Feeder zone one: 0.312 g Au/t over 1.0 m 2. Feeder zone two: 0.314 g Au/t over 37.0 m 3. The whole system: 0.158 g Au/t over 97.52 m including a barren 15 m in flat lying volcanics. 2.2.2 Lower trench, line 36 plus 50N and 50 m lower in elevation than the upper trench - The whole system: 0.489 g/t Au over 25.6 m. Conclusion: The Caridad stockwork is located at the outer margin of a 1.25 by 1.25 km untested circular I.P. anomaly (chargeability) and shows evidence of being part of an epithermal low sulfidation system. 3.0 OVERALL CONCLUSION These results, combined with previous ones do indicate great mining potential at Machacala and it is the opinion of management that the project has definitely reached the drilling stage. It should not be too hard to outline some tonnage. /T/ The two week survey was conducted by geologists Jean Depatie and Mike Atkins with prospector George Murphy. Samples were assayed at Bondar Clegg in Canada. Gold Hawk Resources Inc. is an exploration company with projects in South America and Canada. -30-FOR FURTHER INFORMATION PLEASE CONTACT: Gold Hawk Resources Inc. Jean Depatie President & C.E.O. (514) 878-3551 (514) 878-4427 (FAX) e-mail: goldhawk@colba.net |