Vancouver, British Columbia - July 10, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Seahawk Ventures Inc. (CSE: SHV) ("Seahawk") increases property holdings in the Urban-Barry mining area by 287% to 49,988 acres with a phased acquisition over 3 years. Seahawk's property holdings will increase from 6,495 to 18,611 hectares with the final acquisition of Skyfall property. The newest acquisition is comprised of 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 Inc. will acquire a 100% interest in the Skyfall Property from Hinterland Metals Inc. by exploring and developing the property. The Skyfall Property is the largest un-explored claim block in the Urban-Barry area and we are 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." Mitchell E. Lavery, VP Exploration, Corporate Development, Director
"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." Giovanni Gasbarro, President, CEO
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 above terms and exercise of the option, Seahawk will have earned a 100% interest in Skyfall subject only to a 2% Net Smelter Returns royalty ("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.
For more information please contact:
Seahawk Ventures Inc.
President, CEO at 1-604-939-1848
Mitchell E. Lavery P.Geo.,
Vice-President Exploration, Corporate Development, Director at 1-613-298-1596
More details are available at www.seahawkventuresinc.com
This release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company's periodic reports including the annual report or in the filings made by the Company from time to time with securities regulators. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of an unanticipated event.
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