Toronto, ON – November 2, 2009 – Hawk Uranium Inc. (TSX-V:HUI, FRANKFURT:HPM) (“Hawk”) is pleased to announce that it has received approval from the TSX Venture Exchange (the “Exchange”) for a three-year extension to the term of issued and outstanding warrants exercisable for a total of 3,333,333 common shares at an exercise price of $0.50 per share (the “Warrants”). The Warrants were issued as part of a private placement that closed on November 5, 2007. Since issuance, none of the Warrants have been exercised and all of the Warrants are outstanding.

As originally issued, these Warrants had a term of two years, expiring on November 5, 2009, Hawk has extended the term of these Warrants for three additional years, with the result that they would expire on November 4, 2012.

Hawk is also proposing a reduction in the exercise price of these Warrants whereby the exercise price of the Warrants would be reduced to $0.10 per share from the effective date of the amendment until November 4, 2010, $0.15 per share from November 5, 2010 until November 4, 2011, and $0.20 per share from November 5, 2011 until November 4, 2012. Under Exchange policies, it is a pre-condition that Hawk obtain the written consent of all of the Warrant-holders to those proposed changes and to the addition of an accelerated exercise provision that would be required under Exchange policies. Hawk will be contacting the applicable Warrant-holders to request the required consents, but has not received consents from all Warrant-holders at this time.

Appointment of New Director:

Hawk is pleased to announce the appointment of Robert S. Stewart to the Board of Directors of Hawk. Mr. Stewart currently serves as the President and Chief Executive Officer of Hawk, positions to which he was appointed earlier this year (see news release of September 2, 2009).

Shares for Debt Agreement with Service Providers:

Hawk has reached an agreement with eight of its service providers (the “Creditor”) to settle debt in the aggregate amount of $82,464,32 for certain services rendered during the period from February 1, 2009 to July 31, 2009. The Creditors have agreed to settle their respective portions of the debt in exchange for the issuance of common shares in the capital of the Company (“Common Shares”) at a price of $0.10 per Common Share, for an aggregate issuance of 824,642 Common Shares.

The completion of the shares for debt settlement is subject to the approval of the Exchange. The Company intends to apply to the Exchange for approval of the shares for debt settlement in due course.

Private Placement:

Hawk is also announcing that it is continuing to work towards the completion of a previously announced non-brokered private placement (the “Private Placement”) of up to 10,000,000 common share units (each, a “Unit”) at a price of $0.075 per Unit for aggregate proceeds of $750,000.00. Each Unit will be comprised of one common in the capital of Hawk (a “Common Share”) and one half of one purchase warrant, each whole warrant being exercisable to purchase one Common Share for three years from the date of issue at a price of $0.15 per share in the first year, $0.20 per share in the second year, and $0.25 per share in the third year. In connection with this offering, Hawk may pay a finder’s fee of 7% of the number of Units placed. The net proceeds from the Private Placement will be used to fund Hawk’s exploration and development programs on current and future properties, and interests (including possible expansion opportunities in West Africa), and to fund general and administrative expenses.

About Hawk Uranium Inc.

Hawk Uranium Inc. is a Canadian based junior mining company with a portfolio of diversified exploration projects at various stages of exploration and drilling, for Uranium in N. Saskatchewan, Ontario and Quebec, Gold in N. Ontario and Nickel/Copper/PGM in the ‘Ring of Fire’ McFauld’s Lake Area of N. Ontario.

More detailed information is available on the website at www.hawkuranium.com.

Cautionary Statement:

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

The foregoing information may contain forward-looking statements relating to the future performance of Hawk Uranium Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from Hawk's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Hawk with the TSX Venture Exchange and securities regulators. Hawk does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Hawk Uranium Inc.

H. Vance White, Chairman

Phone: 416-214-2250

Fax: 416-367-1954

Robert S. Stewart, President and CEO

Phone: 480-778-8345

Corinna de Beer, Investor Relations

Phone: 416-792-0343

eMail: ir@hawkuranium.com