Hawk Uranium Inc. Announces TSX-V Approval of Option Agreement with Noront: Financial News

Hawk Uranium Inc. Announces TSX-V Approval of Option Agreement with Noront
Monday February 4, 2008 2:43 pm ET

TORONTO, ONTARIO--(MARKET WIRE)--Feb 4, 2008 -- Hawk Uranium Inc. (CDNX:HUI.V - News) ("Hawk") is pleased to announce that the TSX Venture Exchange has provided final approval of its option agreement with Noront Resources Ltd. (CDNX:NOT.V - News) ("Noront"). Pursuant to that agreement, Hawk has acquired an option for a 50% interest in 10 mining claims (covering a total of 160 claim units, or approximately 6340 acres) in the "Ring of Fire" of the McFauld's Lake area, James Bay Lowlands, Ontario near Noront's nickel copper discovery. The terms of this agreement were disclosed in a previously-issued press release.

Vance White, CEO and President of Hawk, said "I believe that the Noront discovery will become a very significant discovery and the McFauld's district, a significant new mining district. The assay results announced by Noront on January 28, 2008 with respect to claims that are held 100% by Noront provide further support for the potential of this area. The exploration and development of this area will evolve over the next few years. One must remember that this area of Northern Ontario is a very under explored area and with the advent of modern geophysical techniques and equipment a number of new discoveries could well come out of the area. Also with the construction of the road into the DeBeers Victory diamond mine one will have greater and easier access to the area."

ABOUT HAWK URANIUM INC.

Hawk has both direct or option interests in a uranium project in Grand Calumet Township, Quebec, two VMS/nickel/copper exploration properties in the McFauld's Lake "Ring of Fire" area of Northern Ontario in Joint Venture one with Noront Resources and one with MacDonald Mines; one gold exploration property in the Wawa area of Ontario, one uranium property in the Elliot Lake Camp of Ontario, one uranium property in the Charlebois Lake Area of the Northern Mining District of Saskatchewan, one uranium property in Gila County, Arizona, and a core holding of 3.5 million shares in Wits Basin Precious Minerals Inc. (OTC BB:WITM.OB - News). Wits Basin is currently pursuing active projects in South Africa, Colorado, Mexico and the People's Republic of China. Hawk also has petroleum and natural gas properties in Ontario.

For all Hawk Uranium Inc. investor relations needs, investors are asked to visit the Hawk Uranium IR Hub at http://www.agoracom.com/ir/hawk where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to hui@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

CAUTIONARY STATEMENT

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Hawk, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and results to differ materially from Hawk's plans and expectations as detailed herein and from time to time in the filings made by Hawk with the TSX Venture Exchange and securities regulators. Hawk does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.