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VANCOUVER, BRITISH COLUMBIA--(Marketwire – Nov. 4, 2009) - Gold Hawk Resources Inc. ("Gold Hawk" or the "Company") (TSX VENTURE:CGK) announces that initial funding is now in place for construction of the new tailings facility at Chinchan.

The Company's Peru subsidiary Compania Minera San Juan (Peru) S.A. ("CMSJ") has received an US$1.75 million advance on the proposed US$20 million loan from Nyrstar. The advance will be used to finance the construction of the new tailings facility at Chinchan and ongoing care and maintenance expenditures. The advance became necessary to secure the support of suppliers, contractors and government who are critical to the re-start of the Coricancha Mine and who have been on hold pending a resolution of the Company's funding shortfall.

In the event that the proposed sale of an 85 per cent interest in CMSJ to Nyrstar does not complete, US$750,000 of the loan advance will be due in five days with the remainder payable in February 2010.

Shares for Debt transaction completed

Gold Hawk has completed a previously announced Shares for Debt settlement with one of its lenders. In connection with the settlement, Gold Hawk will issue 8,500,000 shares at a deemed price of $0.05 per share in return for the elimination of a $425,000 debt.

All securities distributed pursuant to the shares for debt settlement are subject to a hold period of four months plus one day that expires on March 5, 2010. The Shares for Debt settlement has received final approval of the TSX Venture Exchange.

November 9 Special Meeting of Shareholders

Gold Hawk shareholders of record have received the Notice of Meeting and management's Information Circular regarding the upcoming Special Meeting of Shareholders on November 9 and Management reiterates its recommendation that shareholders vote in favour of the resolutions as proposed in the Information Circular.

About Gold Hawk Resources Inc.

Gold Hawk (TSX VENTURE:CGK) is a Canada-based precious metals company with reserves and resources containing gold, silver, lead, zinc and copper and a near-term production project at the Coricancha Mine and 600 tonnes of ore per day processing facility, located 90kms east of Lima, Peru. The Company has all permits required for the re-start of the mine.

Gold Hawk is based in Vancouver, Canada and is operated by an experienced management team. Gold Hawk and its wholly owned subsidiary, Compania Minera San Juan (Peru) S.A. also have exploration properties in Peru and Canada (Quebec).

This document may contain "forward-looking statements" within the meaning of Canadian securities legislation. These forward-looking statements are made as of the date of this document and Gold Hawk Resources Inc. (hereinafter referred to as the "Company") do not intend, and do not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management of the Company's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, commodity prices, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology.

By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at [ www.sedar.com ]. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.