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NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  GOLD HAWK RESOURCES INC.

TSX VENTURE SYMBOL:  CGK

FEBRUARY 16, 2004 - 08:30 ET

Gold Hawk Announces Closing of $2 Million Private
Placement

MONTREAL, QUEBEC--Gold Hawk Resources Inc. (TSX Venture: CGK) has 
completed a previously announced private placement of 8,000,000 
units at a price of $0.25 per unit for gross proceeds to Gold 
Hawk of $2 million. Each unit consists of one common share and 
one 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 from closing. 

The common shares and warrants issued under the private 
placement, including 460,500 broker warrants have a four-month 
hold period, which expires on June 3 and 12, 2004. 

The net proceeds from the private placement will be used for 
exploration work on Gold Hawk's Machacala gold-silver property, 
located in Peru, property acquisitions and working capital. 

Previous exploration work on the Machacala property outlined a 
inferred mineral resource of 635,000 tonnes averaging 7.6 grams 
per tonne gold and 216 grams per tonne silver in four of the 
twelve veins identified to date.  The resources in these four 
veins are included within an overall estimate of Inferred Mineral 
Resources totalling 1.56 million tonnes. 

The objective of the current exploration program is to upgrade 
the current inferred resources to reserves and to add to the 
resource base, sufficient to justify a mill of up to 500 tonnes 
per day capacity.  The exploration program will consist of 
surface mapping and sampling, diamond drilling and underground 
exploration. 

In addition, diamond drilling has commenced on Gold Hawk's 100% 
owned Barry-Souart gold project, located in the central Abitibi 
belt, between Val d'Or and Chibougamau, Quebec. 

With this financing, the Company currently has 42,167,801 common 
shares outstanding. 

-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)
Website: www.goldhawkresources.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press
release.