Thursday, September 20, 2007
VANCOUVER, BRITISH COLUMBIA, Sep. 20, 2007 (Marketwire delivered by Newstex) -- Hawthorne Gold Corp. ('Hawthorne' or the 'Company') (TSX VENTURE:HGC) is pleased to announce the completion of the 1,300 line-kilometer Airborne Geophysical program on its optioned mineral claims in the Cariboo Gold District. Hawthorne contracted Aeroquest International Limited of Mississauga, Ontario to complete a property wide airborne survey utilizing the proprietary AeroTEM II airborne survey system that includes magnetic, electromagnetic and radiometric instruments. The survey data sets will be used by the Company to outline major geologic units and map structures within these units. The resulting interpretations will guide future drilling and resource expansion activities.
The airborne survey was carried out on the Frasergold property (2,866 hectares) optioned from Eureka Resources Inc. (TSX VENTURE:EUK), the adjoining property (7,930 hectares) optioned from Dajin Resources Corp. (TSX VENTURE:DJI) and the optioned Eureka Peak claim (296 hectares) from local prospector Bob Bourdon.
Historic exploration work has outlined a 10 kilometer long mineralized zone that remains open along strike and down dip. The Company's goal is to identify sufficient resources to outline a large open pittable gold deposit. The historic resource of approximately 363,000 ounces of gold, consisting of 6,612,675 tons of mineralized material at an average grade of 0.055 ounces of gold per ton, was calculated using only the higher grade portion of the deposit. The historic resource calculation was not conducted according to current CIM standards and is not compliant with NI 43-101. The calculation is not to be relied upon for evaluating the Frasergold Property and is presented for historic purposes only.
Ms. Sheri Burt, P.Geo., a Qualified Person under NI 43-101, has approved the technical content of this News Release.
About the Frasergold Option Agreement
Pursuant to an option agreement dated October 31, 2006 between Hawthorne and Eureka Resources Inc., Hawthorne can earn a 51% interest in the Frasergold property by completing exploration expenditures totaling $3.5 million, completing a feasibility study by April 30, 2010 and making cash payments totaling $175,000 before October 31, 2009. Hawthorne can earn a further 9% (for a total of 60%) by arranging financing for 70% of the estimated capital costs for production.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties located in British Columbia, Canada. Hawthorne Gold is managed by well-respected mining leaders Richard Barclay and Michael Beley. Together with mining veteran Michael Redfearn, and a strong board of Directors from across the mining industry, the goal is to become another successful gold company through focused exploration initiatives, continued development of the Frasergold mineral deposit and potential acquisitions of other projects.
ON BEHALF OF HAWTHORNE GOLD CORP.
Richard J. Barclay, President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release.
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