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NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: GOLD HAWK RESOURCES INC. TSX VENTURE SYMBOL: CGK APRIL 27, 2005 - 09:42 ET Gold Hawk Resources Signs an Agreement to Acquire the High Grade Cascabamba Silver-Gold-Copper Property in Peru TORONTO, ONTARIO--(CCNMatthews - April 27, 2005) - Gold Hawk Resources Inc. (TSX VENTURE:CGK) is pleased to announce that further to their news release of December 15, 2004, they have signed a definitive agreement to acquire a 100% interest in the Cascabamba silver-gold-copper project in Peru. (See Press Release dated Dec. 15, 2005). The project encompasses approximately 1,100 hectares and is located 50 km. southwest of the town of Cajamarca in northern Peru. Silver-gold-copper mineralization occurs along three epithermal low sulfidation quartz sulphide veins. The veins are 1.5 km. long and 0.1 to 1.5 meters wide with a known depth extension of up to 80 meters below surface. Under the terms of the agreement, Gold Hawk has the option to earn a 100% interest in the property by paying to the owner, a private Peruvian company, a series of cash payments totaling US$550,000. The cash payments are as per the following schedule: $30,000 on signing of a formal agreement, $50,000 six months from the date of signing the agreement, $170,000 twelve months from signing of the agreement and $300,000 once the property commences production. The owner will retain a 1.5% NSR royalty of which 1% can be purchased by Gold Hawk at any time for US$750,000. In the event that production does not begin, at a minimum rate of 50 tpd, within three years from the signing of this agreement, Gold Hawk will have no interest in the property and the agreement will be cancelled. In the 1930's, Cerro de Pasco Corporation did some lateral underground development and sank a 40-meter deep shaft on the Protectoro Vein. Sampling on a level, 35 meters below surface, returned the following assays. These results were from a mineralized shoot measuring 250 meters in length that is open both laterally and at depth (all assay results are from the 1930's): /T/ - 58 meters in length at 46.2 oz/t silver, 0.43 oz. /t gold and 4% copper over 0.95 meters; - 33 meters in length at 32.9 oz/t silver, no assays for gold, 2.1% copper over 1.07 meters; - 21 meters in length at 180 oz. /t silver, no assays for gold, and 8.5% copper over 0.40 meters; - 15 meters in length with no assays; - 18 meters in length at 103 oz. /t silver, 0.74 oz. /t gold, 4% copper over 0.52 meters; - 80 meters in length with only three assays of 40.0, 18.7 and 16.2 oz. /t silver over 0.7 meters; - 26 meters in length at 142 oz/t silver, no assays for gold, and 5.7% copper over 0.5 meters. /T/ Assuming a 150 to 1 silver-gold ratio where no gold assays are reported and giving zero grades for the 15 and 80 meter sections which were not assayed or had few assays, the average grade of the 250 meter length of the drift would be 67 oz. /t silver, 0.44 oz. /t gold and 3.47% copper over an average width of 0.65 meters. Additional ore shoots may occur anywhere along the strike length of the Protectora vein as past exploration was limited to only one third of the known length of the vein. For example, a sample collected by Gold hawk last year from an old ore dump located 600 meters to the west of the western most limit of the ore shoot has returned 53 oz/t silver and 0.30 oz/t gold, indicating that more ore grade mineralization may be discovered along this vein. Additionally, samples collected from the Mascota and Pozo veins yielded 7.15 oz/t silver and 0.27 oz/t gold and 3.8 oz/t silver and 0.22 oz/t gold indicating the high grade nature of the other veins. Mapping and geophysical surveys will commence immediately and as soon as permits are obtained it is Gold Hawk's intention to commence a drilling program to test the down dip extension of the Protectora vein. Assuming that this phase of the exploration program is successful, Gold Hawk plans to rehabilitate and resample the old underground workings, which are currently inaccessible. The objective is to build up sufficient resources and reserves to justify a 100 to 150 tpd operation. Mr. Alain Vachon, P. Eng. Geologist, is the qualified person as per the 43-101 guidelines responsible for the field supervision of the work completed so far. All samples collected by Gold Hawk have been assayed at the ALS CHEMEX laboratory in Lima, Peru. Gold and silver assays have been performed via fire assay-atomic absorption finish on a 30 gram sample. Gold values over 10 g/t were automatically reanalyzed via fire assay gravimetric finish for gold and multi digestion for silver. -30-FOR FURTHER INFORMATION PLEASE CONTACT:
Gold Hawk Resources Inc.
Mr. Gordon F. Bub
President and C.E.O.
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responsibility for the adequacy or accuracy of this press release.