DEBT SETTLEMENT HAWKEYE Gold & Diamond Inc. (the “Company”)

July 6, 2010 TSX Venture Exchange - HGO

CUSIP NO : 42016R 20 3 12g3-2(b):82-2435

News Release No. 194

DEBT SETTLEMENT

HAWKEYE Gold & Diamond Inc. (the “Company”): Vancouver, British Columbia: Trading symbol: TSX.V:HGO announces that subsequent to a news release dated June 4, 2010 whereby the Company announced that it had arranged for a Debt Settlement with a certain creditor of the Company, the TSX Venture Exchange has accepted for filing the Company’s proposal to issue 633,333 shares at a deemed price of $0.15 per share to settle outstanding debt of $95,000. The Company has issued the 633,333shares.

The shares issued in connection with this Debt Settlement are subject to a four-month hold period expiring November 6, 2010.

HAWKEYE GOLD & DIAMOND INC.

Per:

“Greg Neeld”

President & CEO

Toll Free: 1-800-665-3624 Email: [email protected] Vancouver: 1-604-878-1339 Web Site: www.hawkeyegold.com

Neither 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.

HAWKEYE GOLD & DIAMOND INC.

Suite 2302 – 120 Milross Avenue, Vancouver, B.C., Canada V6A 4K7 Ph: (604) 878-1339  Fax: (604) 688-3402  Corporate Communications: 1-800-665-3624  Internet: www.hawkeyegold.com

TSX VENTURE EXCHANGE - HGO