HAWKEYE Gold & Diamond Inc. announced that it has signed a Purchase Agreement to buy the Bonanza Property, located on the northern end of Vancouver Island, British Columbia, Canada. The 123.8-hectare Bonanza Property is located approximately 110 kilometres northwest of Campbell River and 69 kilometres southeast of Port Hardy. The Property encompasses the historical Bonanza Pit copper, gold, silver, zinc and magnetite skarn prospect, which has been subject to intermittent exploration over the years since its discovery in 1959. The Property contains occurrences of high-grade copper mineralization within garnet and magnetite skarn lenses. One of these occurrences was open-pit mined in 1967 and is known as the Bonanza Pit (designated as Zone A), having produced 2,163 tonnes of ore, averaging 5.48% copper and 14.0 g/t silver. Mineralization associated with the Bonanza Pit has been observed to occur intermittently over 2.5 kilometres along a northwest-striking hornblende quartz diorite contact, in five general zones, designated as Zone A through Zone D, and the TH Zone. The company has acquired the Property not only for its potential for copper, gold, silver and zinc skarn and porphyry mineralization, but also the potential for production of magnetite on the Property as a means of generating cash flow.