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NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  GOLD HAWK RESOURCES INC.

TSX VENTURE SYMBOL:  CGK

JANUARY 8, 2004 - 10:16 ET

Gold Hawk Announces $2 Million Private Placement

MONTREAL, QUEBEC--Gold Hawk Resources Inc. (TSX Venture: CGK) 
announces a proposed private placement under which it will issue 
up to 8,000,000 common shares to investors in Ontario, Alberta, 
British Columbia and outside Canada at a price of $0.25 per 
share, for maximum gross proceeds to Gold Hawk of $2 million.  
The closing of the private placement is expected to take place on 
or about January 29, 2004. 

Each of the shares will be accompanied by a common share purchase 
warrant.  Each warrant will entitle the holder to acquire one 
additional common share at a price of $0.35 per share for a 
period of 18 months. 

Gold Hawk will use the net proceeds from the private placement 
for exploration work on its Machacala gold-silver property in 
Peru, property acquisitions and working capital. 

The common shares and warrants issued under the private placement 
will be subject to a four-month hold period.  The private 
placement is subject to regulatory approval. 

Gold Hawk is a precious metal exploration and development company 
with a corporate strategy to grow into a significant gold and 
precious metal producer by developing its existing assets, the 
Machacala gold-silver property in Peru and the Barry-Souart gold 
property in Quebec, and by acquiring advance-stage gold projects 
and/or producing mines. 

This news release does not constitute an offer to sell or a 
solicitation of an offer to buy any of the securities in the 
United States.  The securities have not been and will not be 
registered under the United States Securities Act of 1933, as 
amended or any state securities laws and may not be offered or 
sold within the United States or to U.S. Persons unless 
registered under the United States Securities Act of 1933 and 
applicable state securities laws or an exemption from such 
registration is available. 

NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR 
DISSEMMINATION IN THE UNITED STATES 

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Gold Hawk Resources Inc.
Mr. Gordon F. Bub
President and C.E.O.
(905) 773-8137
(905) 773-8679 (FAX)
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press
release.