HAWKEYE Closes upon Its Non-Brokered Flow-Through and Non-Flow-Through Private Placement for $915,000

VANCOUVER, BRITISH COLUMBIA. / ACCESSWIRE/October 22, 2018 / Hawkeye Gold & Diamond Inc. (the "Company" or"HAWKEYE") (TSX.V-HAWK; Frankfurt Ticker: HGT; WKN: A12A61 ISIN:CA42016R3027): announcesthat subsequent to the Company's original news release dated June 27,2018 (release No. 288 – 2018) whereby HAWKEYE announced a non-brokeredflow-through unit ("Flow-Through-Unit") and non-flow-through unit ("CommonUnit") financing at a price of $0.05 per unit for total proceeds of $750,000(CDN), and a succeeding news release dated September 24, 2018 (release No. 295– 2018) whereby the Issuer announced it had closed the first tranche of thisfinancing for total proceeds of $850,000 (CDN), and a further news releasedated October 11, 2018 (release No. 298 - 2018) whereby the Company announcedit would be closing the second tranche of the financing by issuing 1,300,000 CommonUnits raising total proceeds of $65,000 (CDN), HAWKEYE is pleased to inform ourshareholders and the investment community it has received TSX Venture Exchangeacceptance and closed upon the placement by issuing 12,000,000 Flow-Through-Units(first tranche) and 6,300,000 Common Units (5,000,000 first tranche and1,300,000 second tranche) for total proceeds of $915,000 (CDN). Proceeds fromthe Offering will be used for general working capital, trades and explorationexpenditures.

Each Common Unit consists of one non-flowthrough common share of the Company and one transferable share purchasewarrant, with each such warrant entitling the holder to acquire one common shareat a price of $0.10 per common share for a period of twenty-four (24) months.The 5.000,000 share purchase warrants issued during closing of the firsttranche expire on September 18, 2020 and the 1,300,000 share purchase warrantsissued during closing of the second tranche expire on October 22, 2020.

Each Flow-Through Unit consists of oneflow-through common share of the Company and one half of a transferable sharepurchase warrant, with each such full warrant entitling the holder thereof toacquire one non-flow-through common share at a price of $0.10 per common sharefor a period of twelve (12) months. The 6,000,000 share purchase warrantsissued during closing of the first tranche expire on September 18, 2019.

If the Issuer'scommon shares have a closing price of $0.20 (CDN) or more per share for tenconsecutive trading days on the TSX Venture Exchange (the "TSXV"), theCorporation shall be entitled to give notice to the holders of the warrantsissued pursuant to the Flow-Through Units and Common Units that such warrantswill expire thirty days from the date of mailing of such notice or the newsrelease of such notice, unless such warrants are exercised before the expiry ofthat period, and in such event all unexercised warrants will expire at 4:30p.m. (Vancouver time) on the last day of such thirty day period. None of the warrants issued pursuant to theOffering will be listed for trading.

An 8% finders' fee was paid incash and warrants in connection with the closing of the private placement. TheIssuer paid a total of $46,000 cash and issued 920,000 finders warrants whichare subject to the same terms and conditions of the warrants connected to the Flow-Throughand Common Units. A total of 824,000 finders warrants were issued in connectionwith the Flow-Through portion of the financing and 96,000 warrants were issuedrelating to the Common Unit portion of the financing.

The Flow-Through Units, theCommon Units ("Units") and the underlying securities issued pursuant to closingof the first tranche of the private placement offering are subject to a fourmonth hold period expiring January 18, 2019 and the Units and underlyingsecurities issued in connection with closing of the second tranche are subjectto a four month hold period expiring February 22, 2019.

AboutHAWKEYE

Hawkeye Gold & Diamond Inc. is a juniormineral exploration and development company based in Vancouver, BritishColumbia, Canada. The Company's precious and base metals properties are locatedin the prolific BC Golden Triangle, world-class Barkerville gold camp andVancouver Island, BC, Canada. HAWKEYE's corporate mandate is to build strongasset growth and shareholder value through the acquisition of low-cost,high-potential cash flow and production opportunities with blue sky discoverypotential, and to manage our business in an environmentally responsible mannerwhile contributing to the local community and economy.

HAWKEYE GOLD & DIAMONDINC.

Per:

"Greg Neeld"

President & CEO

Vancouver: (604) 908-8511
Email: greg@hawkeyegold.com
Web Site: www.hawkeyegold.com

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

CautionaryNotes Regarding Forward Looking Statements

This News Release contains forward-looking statements.Forward-looking statements are statementsthat relate to future events.Thesestatements are only predictions and involve known and unknown risks,uncertainties and other factors that may cause our or our industry's actualresults, levels of activity, performance or achievements to be materially differentfrom any future results, levels of activity, performance or achievementsexpressed or implied by these forward-looking statements.While these forward-looking statements, andany assumptions upon which they are based, are made in good faith and reflectour current judgment regarding the direction of our industry, actual resultswill almost always vary, sometimes materially, from any estimates, predictions,projections, assumptions or other future performance suggested herein. Exceptas required by applicable law, the Company does not intend to update any of theforward-looking statements to conform these statements to actual results.

SOURCE: Hawkeye Gold & Diamond Inc.