Seahawk Gold Corp. Announces Private Placement

Vancouver, British Columbia--(Newsfile Corp. - June 2, 2022) - Seahawk Gold Corp. (CSE: SEAG) ("Seahawk") announces that it is undertaking a non-brokered private placement of common shares to raise gross proceeds of up to $750,000.00 (the "Placement").

Seahawk intends to issue up to 2,500,000 shares in the Placement, at $0.30 per share.

The net proceeds from the sale of the Private Placement Shares will be used to fund the advancement of the Company's projects and for working capital purposes.

Finder's fees of up to 6% may be paid to finders in connection with the Placement.

The Company also wishes to announce the termination of the previously announced agreement (May 4, 2021) with Sama Resources Inc. ("Sama") to complete an acquisition of certain Liberian assets in Africa thru their Company's subsidiary, Sama Resources Development Corp. (Cayman). The termination was agreed to by both Sama and Seahawk.

About Seahawk Gold Corp.

Seahawk Gold Corp. is a publicly traded Canadian resource exploration company trading in Canada (CSE: SEAG), the U.S. (OTCQB: SEHKF) and Germany (FSE: 7SR). Seahawk is the 100% owner of four properties along the Urban-Barry Greenstone Belt in the Abitibi sub province of mining friendly Quebec, Canada.

For more information please contact Seahawk Gold Corp. -seahawkgoldcorp.com

Giovanni Gasbarro,
CEO and Director at 1-604-939-1848

Mitchell E. Lavery, P.Geo.
President and Director at 1-613-298-1596

Neither the Canadian Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126295