Hawkmoon Announces Private Placement and Bonanza Lithium Brines Property Option
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
HAWKMOON ANNOUNCES PRIVATE PLACEMENT AND BONANZA LITHIUM BRINES PROPERTY OPTION
January 9, 202 3 – VANCOUVER, BRITISH COLUMBIA – Hawkmoon Resources Corp. (CSE:HM;
OTCQB:HWKRF; FSE:966) (“Hawkmoon” or the “Company”) announces its intention to carry out a non -
brokered private placement of up to 12,500,000 units of its securities (“Units”) at a price of $0.08 per
Unit, for gross proceeds of up to $1,000,000 (the “Offering”). Each Unit will be composed of one common
share of the Company and one common share purchase warrant (a “ Unit Warrant”). Each Unit Warrant
will be exercisable to acquire one common share of the Company at an exercise price of $0.10 for a period
of two years from the date of issuance.
Branden Haynes, CEO of Hawkmoon, stated, “Stock consolidation is never an easy choice to make for any
company but unfortunately it was necessary to facilitate Hawkmoon’s ability to finance in 2023. Last year
was challenging for Hawkmoon and for many of its peers in the junior exploration space. This financing
will give Hawkmoon the ability to develop its new lithium project and further drill the Wilson Gold Project
as well as conduct exploration on the recently acquired Barriere and Gilnockie claims in BC.”
The Units to be issued under the financing will be subject to a four month hold period. The Company may
pay commissions or finder fees on the amount raised through the Offering. The terms of the financing are
subject to applicable securities laws and regulatory requirements.
The securities to be issued under the Offering have not been and will not be registered under the U.S.
Securities Act of 1933, as amend ed (the “Securities Act”), and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration requirements of the Securities
Act.
Option to Acquire 100% of Bonanza Lithium Brines Property
The Company is pleased to announce that it has entered into a n option agreement (the “ Option
Agreement”) with Thomas W. Clarke and Drakensburg Corporation dated January 3, 2023 , pursuant to
which the Company was granted an option (the “ Option”) to acquire a 100% interest in the Bonanza
lithium brines property (the “Bonanza Property”). The Bonanza Property is comprised of two metallic and
industrial mineral permits covering approximately 18,432 hectares located approximately 140 kilometres
northwest of Grande Prairie, Alberta and 25 kilometres east of Dawson Creek, British Columbia, as shown
in figure 1 . The Bonanza Property is easily acces sed by Alberta Provincial Highway No. 49 , secondary
highways, and the Alberta township and range road network.
89 mg/L Lithium in Brines Sample in Old Well Data
According to Eccles and Jean (2010) (see References below), there is a lithium in brines target on the
Bonanza Property. An abandoned oil well drilled in 1975 with the unique well identifier number 00/07-
30-080-11W6/0 intersected the Wabamun Group Carbonates from 3,252.80 to 3,304.00 metres down
hole (51.20 metre thick target). This old well with a significant lithium in brines grade is shown in figure 2.
Of the entire data set for Alberta lithium brines, only 4 percent of wells with data had lithium values of at
least 70 mg/L.
This is one sample and is not a “historical estimate” under National Instrument 43 -101 – Standards of
Disclosure for Mineral Projects (“NI 43-101”). In addition, a qualified person has not done sufficient work
to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not
treating the historical estimate as current mineral resources or mineral reserves.” The Company believes
that the information provides an indication of the exploration potential of the Bonanza Property but may
not be representative of actual exploration results.
The Wabamun Group consists of both dolomitic siltstones and calcareous dolomites. The upper pa rt ot
the Wabamun is dominated by limetsones while dolomites are the principal lithology in the middle and
lower strata. The thickness of the Wabamun Group ranges from zero metres to 240 metres in west central
Alberta.
Figure 1: Location map of the Bonanza Property
Figure 2: Map of wells with lithium values
Property and Target Geology
The surface bedrock geology of the Properties is comprised almost entirely of the Kaskapau Formation.
The Spirit River Formation is also present on the Gordondale Property. A surficial bedrock geology map is
shown in figure 4.
Option Agreement Terms
The Option Agreement is a "related party transaction" as defined in Multilateral Instrument 61 -101 -
Protection of Minority Security Holders in Special Transactions ("MI 61-101") because the optionor is a
corporation that is owned by Thomas W. Clarke, the Company’s Vice President, Exploration, and a director
of the Company. The Company did not file the material change report required under MI 61 -101 more
than 21 days before the expected execution date of the Option as the final terms of the Option Agreement
were not settled until shortly prior to the execution of the Option Agreement, and the Company wished
to enter into the Option Agreement directly for sound business reasons. The Company is relying on
exemptions from the formal valuation and minority shareholder approval requirements available under
sections 5.5(a) and 5.7(1)(a) of MI 61 -101, respectively given the fair market value of the transaction is
not more than the 25% of the Company's market capitalization.
Table 1 outlines the exercise terms of the Option Agreement.
Table 1: Terms of the Option Agreement
Milestones Cash Payments Share Issuances Work Commitments
Upon Signing $10,000 300,000 N/A
February 1, 2022 N/A 300,000 N/A
One Year Anniversary $20,000 N/A $100,000
Two Year Anniversary $30,000 N/A $100,000
Three Year Anniversary $40,000 N/A $200,000
Totals $100,000 600,000 $400,000
References
Eccles, D.R. and Jean, G.M. (2010). Lithium Groundwater and Formation-Water Geochemical Data; Energy
Resources Conservation Board / Alberta Geological Survey; DIG 2010-0001.
Branden Haynes, CEO of Hawkmoon, states “The Canadian province of Alberta has significant lithium
resources and is poised to compete in the global market. The province’s oil fields hold large deposits of
lithium in subsurface brine, which has long been overlooked as industrial waste from oil field operations.
New technologies known as “direct lithium extraction” are being developed to access Alberta’s lithium -
brine potential in many of the same reservoirs as Alberta’s existing oil and gas resources. Hawkmoon
believes that lithium presents exciting opportunities for investment and diversification.”
About Hawkmoon Resources
Hawkmoon is focused on junior stage project acquisitions across Canada. One of these projects is located
in one of the world’ s largest gold endowed areas, the Abitibi Greenstone Belt. The Wilson Gold Project
can be accessed by government- maintained roads located east of the town of Lebel -sur-Quévillon. The
company has recently acquired the Barriere and Gilnockie projects in British Columbia. For more
information, review the Company’s filings available at www.sedar.com.
Qualified Person
The technical information in this news release has been reviewed and approved by Thomas Clarke P.Geo.,
Pr.Sci.Nat. Mr. Clarke is a “Qualified Person” under NI 43 -101 and is a d irector and the Vice President
Exploration of Hawkmoon.
HAWKMOON RESOURCES CORP.,
ON BEHALF OF THE BOARD
"Branden Haynes"
Branden Haynes, Chief Executive Officer
Forward Looking Statements
This news release includes statements that constitute “forward -looking information” as defined under
Canadian securities laws (“forward looking statements”). Without limitation, statements regarding future
plans and objectives of the Company are forward looking statements that involve various degrees of risk.
Forward-looking statements reflect management's current views with respect to possible future events
and conditions and, by their nature, are subject to known and unknown risks and uncertainties, both
general and specific to the Company. Forward-looking statements in this news release include statements
regarding: the intended Offering, including the total proceeds and use of proceeds; and the Company’s
Option to acquire the Bonanza Project and its expectations for exercising the Option and the exploration
potential of the Bonanza Project. Although the Company believes the expectations expressed in its
forward-looking statements are reasonable, forward looking statements are not guarantees of future
performance, and actual outcomes may differ materially from those in forward-looking statements. The
following are important factors that could cause the Company’s actual results to differ materially from
those expressed or implied by such forward looking statements: the risk that the Offering does not close
at all, the risk that the Company raises less than the anticipated amount of gross proceeds from the
Offering, the risk that the Company does not use the proceeds from the Offering as currently expected,
the risk that the Company is not able or decides not to exercise the Option, the risk that exploration results
on the Company’s projects are unsuccessful, risks inherent in the exploration and development of mineral
deposits, including risks relating to necessary technology for mineral extraction, risks relating to changes
in mineral prices and the worldwide demand for and supply of minerals, as well as the range of risks
relevant to junior mining companies such as the Company. Additional information regarding the various
risks and uncertainties facing the Company are described in greater detail in the "Risk Factors" section of
the Company’s annual management's discussion and analysis and other continuous disclosure documents
filed with the Canadian securities regulatory authorities which are available at www.sedar.com. The
Company undertakes no obligation to update forward -looking information except as required by
applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.
For more information, please contact Branden Haynes, Chief Executive Officer and Director
Email: [email protected]; Telephone: 604-817-1595