Hawk Exploration Ltd. has granted a total of 1,136,500 options to directors, officers, employees and consultants, of which 975,000 were granted to directors and executive officers. Each option entitles the holder the right to acquire one Class A Share of the Corporation at an exercise price of $0.42 per Class A Share and expires ten years from the date of issue.

The options vest equally over a three year period on the first, second and third anniversary from the date of grant. There are now options outstanding to purchase a total of 3,421,500 Class A Shares of the Corporation, or approximately 9.6% of the Corporation's issued and outstanding Class A and Class B Shares.

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