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May 27, 2021

Hawkmoon Resources to acquire Lava Gold Property in Canada

Hawkmoon Resources intends to purchase the Lava gold property, comprising 41 mineral claims in Québec, Canada.

Hawkmoon Resources has agreed to acquire a 100% stake in the Lava gold property in Belleterre Gold Camp, Québec, Canada, from two arms-length vendors.

The property, which includes 41 mineral claims, is situated in the Latulipe-et-Gaboury Township of western Québec, 15km east of the village of Belleterre.

Hawkmoon has the option to pick a 100% interest in Lava by making a $115,500 cash payment, issuing 1,320,000 Hawkmoon common shares to the vendors and completing $500,000 worth of work over three years.

Once the option is exercised, the vendors will have a 3% net smelter return (NSR) royalty. Hawkmoon will have an option to purchase 1% of the NSR for $1m.

In a press statement, Hawkmoon said: “The property covers the Lavallée number 38, 39, 40 and 41 gold showings. The showings are a series of gold-bearing quartz-carbonate veins, which often contain sulphide minerals.

“Gold can be associated with sulphides in the Belleterre area. The veins occur within a 10km-long, northeast-trending corridor marked by numerous shear zones.

Hawkmoon said that the veins occur within the northeast-trending corridor, referred to as the Lavallée Shear Zone (LSZ), marked by numerous shear zones.

The firm is planning to re-interpret previous work on the Lava gold property, as well as conduct a trenching and rock sampling programme to develop drill targets along the LSZ.

Last month, Hawkmoon signed an option agreement to acquire 100% of the Wilson Gold Project from Cartier Resources.

Comprising 42 mineral claims, the property is located in Verneuil Township 15km east of Lebel-sur-Quévillon.

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