Greenhawk Options Its Greenland Properties and Cancels Outstanding Stock Options
News Release
GREENHAWK OPTIONS ITS GREENLAND PROPERTIES AND
CANCELS OUTSTANDING STOCK OPTIONS
TORONTO, May 21, 202 5: Greenhawk Resources Inc. (“Greenhawk” or the " Company")
(CSE: GRHK) announces that it has executed an arms -length Option and Joint Venture
Agreement (the “ Option Agreement ”) with 1531323 BC Ltd. (“ 1531323 BC ”) to advance the
exploration and development of Greenhawk’s Greenland properties, which include the Storø and
Qingaaq mineral exploration licenses (the “Properties”).
Under the Option Agreement, 1531323 BC is granted an option to acquire an 80% interest in the
Properties in exchange for : (a) an upfront payment of $100,000, which shall be paid within 90
days, and (b) incurring $1,400,000 in spending at the Properties within 24 months according to
the following schedule.
Payment Period Minimum Expenditures
Within 6 months of the Closing Date Minimum of $450,000
Within 12 months of the Closing Date Minimum of $350,000
Within 18 months of the Closing Date Minimum of $300,000
Within 24 months of the Closing Date Minimum of $300,000
Total: Minimum of $1,400,000
1531323 BC will be responsible for the operations of the Properties while the Option Agreement
is in effect. If 1531323 BC satisfies the expenditure requirement at the Properties, the Company
and 1531323 BC will establish a joint venture for the exploration and development of the
Properties.
The Storø project (“Storø”) is a 12 km2 license which hosts an inferred mineral resource estimated
in 2021 by SRK Consulting (Sweden) AB at 885,000 tonnes, grading 3.4 g/t Au and totaling
95,000 oz of gold Mineral Resources. The Mineral Resource has a cut-off grade of 0.8 g/t Au for
material located within the conceptual open -pit shell and 2.5 g/t Au for underground Mineral
Resources located below the pit shell. Since 1995, a total of 102 drillholes totaling 17,371 m have
been drilled into the known mineralized zones at Storø. Storø is surrounded by the Qingaaq
license (“Qingaaq”), which covers some 540 km2.
Martin Pittuck, CEng, FGS, MIMMM, a “Qualified Person” for the purpose of National Instrument
43-101, has reviewed and approved the scientific and technical information included in this news
release.
1531323 BC intends to enter into a management services contract with the Company to provide
advice in respect of the Properties.
The Company continues to actively pursue the acquisition of other properties and opportunities
in the mineral exploration and resources sector.
The Company is also announcing that it has cancelled an aggregate of 8,600,000 stock options.
The subject stock options are comprised of 4,600,000 stock options with an exercise price of
$0.27 per share and an expiry date of October 20, 2025, and 4,000,000 stock options with an
exercise price of $0.20 per share and an expiry date of June 24, 2026.
About Greenhawk Resources Inc.
Greenhawk is a Canadian resources exploration and development company. Greenhawk owns a
100% legal and beneficial interest in two mineral exploration licenses and one prospecting license
in Greenland known as the Storø Gold Project. Additional Information on Greenhawk can be
obtained from SEDAR+ at sedarplus.ca. Greenhawk is listed on the Canadian Securities
Exchange (www.thecse.com) (CSE: GRHK).
Issued on behalf of the Board of Directors of Greenhawk Resources Inc. For information, please
contact:
David Jagodzinski, Director Corporate Development
Phone: +1 (416) 504-2020
Email: [email protected]
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER
HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE
Cautionary Note Regarding Forward-Looking Information
Certain statements in this press release may contain forward looking information which can be
identified by the use of forward-looking terminology such as "believes", "expects", "may", "desires",
"will", "should", "projects", "estimates", "contemplates", "anticipates", "intends", or any negative
such as "does not believe" or other variations thereof or comparable terminology. No assurance
can be given that potential future results or circumstances described in the forward-looking
statements will be achieved or will occur. By their nature, these forward -looking statements
necessarily involve risks and uncertainties that could cause actual results to significantly differ from
those contemplated by these forward -looking statements including, but not limited to: the
completion of the Transaction, including the receipt of the upfront payment, 1531323 BC making
the requisite expenditures on the Properties to exercise the option on the Properties, the ability to
obtain requisite corporate and regulatory approvals, including that of the CSE, the operator
obtaining requisite permits and authorizations to allow for exploration on the Properties . Such
statements reflect the view of the Company with respect to future events and are based on
information currently available to the Company and on assumptions, which it considers
reasonable. Management cautions readers that the assumptions relative to the future events,
several of which are beyond management's control, could prove to be incorrect, given that they
are subject to certain risk and uncertainties, and that actual results may differ materially from
those projected. Management disclaims any intention or obligation to update or revise any forward-
looking statements whether as a result of new information, future events or otherwise, except as
required by applicable securities laws. The reader is cautioned not to place undue reliance on
forward-looking information.