Seahawk Ventures to acquire Skyfall property in Quebec

Jul 11, 2018

2018-07-10 11:08 ET – News Release

Mr. Giovanni Gasbarro reports

ACQUISITION INCREASES SEAHAWK VENTURES INC. PROPERTY HOLDINGS IN THE URBAN-BARRY AREA

Seahawk Ventures Inc. will increase its property holdings in the Urban-Barry mining area by 287 per cent to 49,988 acres with a phased acquisition over three years. Seahawk’s property holdings will increase from 6,495 hectares to 18,611 hectares with the final acquisition of the Skyfall property. The newest acquisition comprises 215 claims covering 12,116 hectares.

The Skyfall property is located in the Urban-Barry greenstone belt, approximately 150 kilometres east of Lebel-Sur-Quevillon and 75 kilometres south of Chapais in the Abitibi region of Quebec, and is accessible by existing roads.

Seahawk Ventures will acquire a 100-per-cent interest in the Skyfall property from Hinterland Metals Inc. by exploring and developing the property. The Skyfall property is the largest unexplored claim block in the Urban-Barry area, and the company is confident that, by systematic exploration and development, the property will reveal numerous gold- and base-metal-mineralized zones and deposits of economic significance.

“This property is my first choice of all the properties I have investigated in the area. Skyfall gives Seahawk the best opportunity of achieving its goal of becoming the next mine finder in the Urban-Barry area,” said Mitchell E. Lavery, vice-president, exploration, and director, corporate development, of Seahawk.

“We rejected several other properties once we reviewed Mr. Lavery’s recommendation. Seahawk is delivering on the game plan to add strategic properties accessible by road in promising areas that increase the future returns of our shareholders,” said Giovanni Gasbarro, president and chief executive officer of Seahawk.

Under the terms of the agreement, Seahawk will pay Hinterland $100,000 in cash, issue 800,000 shares and complete $800,000 of work over a three-year period. Upon completion of the aforementioned terms and exercise of the option, Seahawk will have earned a 100-per-cent interest in Skyfall, subject only to a 2-per-cent net smelter return royalty on all metal production from the property payable to Hinterland. Seahawk will have the right of first refusal on the royalty in whole or in part. The agreement is subject to regulatory approval.

We seek Safe Harbor.

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