Charlebois Lake Area Property, Saskatchewan

PROPERTY DESCRIPTION:
The Company has options over a total of nine (9) mining claims in the Charlebois Lake Area of the Northern Mining District, Saskatchewan. The 9 claims cover approximately 4,254 hectares.

Hawk Uranium Inc. land position in the Charlebois Lake Area is substantial and contains most of the known showings in the area. The total known strike length of mineralization is projected to be in excess of 16.5 km with widths varying from 4 feet to 50 feet and grades as high as 0.105% U3O8 from drill data. Grab sample assays as high as 0.34% U3O8 have been reported. Inferred and projected mineralized strike length of Hawk Uranium controlled blocks could very well be in excess of 26.5 km.

PROPERTY HISTORY:
Previous workers in the area have postulated that the entire Charlebois Lake Area may contain in excess of 45 million pounds of Uranium in rock containing 0.07% U3O8 to a depth of 1000 feet and tests by the Federal Mines Branch and The Department of Geology of the University of Saskatchewan indicate excellent recovery of Uranium values and good milling characteristics. Other workers indicate grades of 0.10% U3O8 over several miles, while drilling information outlined 10,000 tons per vertical foot at a grade of 0.075% U3O8.

In 1952 Mawdskey identified 6 ore bodies containing a resource* of 1,000 tons per vertical foot grading 0.20% U3O8.

Economic evaluations done back in 1976 indicate that the area requires 20 million tons of mineralized rock grading 0.075% (1.5 lbs. per ton) U3O8 at $CND 40 per lb U3O8 to become very economical with a payback period of 6 years and a capital expenditure of $CND 200 million.
(* Historical estimates are non-NI 43-101 compliant)

PROPERTY GEOLOGY:
The bedrock in the Charlebois Lake Area is composed of an ancient PreCambrian sedimentary assemblage now folded and fractured and highly metamorphosed by the later granitic intrusive masses. The sedimentary assemblage is thoroughly recrystallized, generally pronounced banded and most are strongly gneissoid or schistose. Pegmatites and related migmatites are closely related and mineralogical similar to the granite, but formed later. They form as dykes and sills and are spatially related to the granite – granite gneiss contact with the metasediments

The Charlebois Lake Area is very complex structurally and sees the metasediments of the area as remnants of an intricately folded sedimentary sequence. The calcareous rocks are believed to be part of one horizon and now only occupy synclinal troughs. Conversely the massive granite, granite gneiss and banded granite gneiss largely occupy anticlinal structures. Later E-W and NE-SW faulting further complicates the structural picture of the Charlebois Lake Area.

The Charlebois Lake Area is known for its Uranium and to a lesser extent Molybdenum mineralization in pegmatite’s and migmatite which occurs as lens like, and possibly en-echelon type bodies within dykes and sills. Radioactivity however can be traced continuously along strike over several kilometers. Radioactive minerals of most of the mineralized pegmatites and migmatites are primary accessory constituents; however some are sheared, while others are injected via hydrothermal solutions.

PREVIOUS WORK COMPLETED:
Geotech Ltd of Aurora, Ontario has completed a 1500 line km of helicopter-borne VTEM and Magnetic geophysical surveys during April 2008. Condor Consulting of Lakewood, Colorado has been retained to do the final interpretation on this survey.

CURRENT WORK PROGRAM:
Airborne VTEM Survey:
Based on the results of the Condor analysis, identified targets will be followed up with a detailed exploration program that will include the following work:

1. Line Cutting
2. Detail Geological Mapping
3. Ground Magnetics
4. Ground Radiometrics
5. Gravity over the lakes
6. Overburden Stripping
7. Trenching
8. Diamond Drilling

A number of fly-in camps will be established to evaluate other areas.