Shares Outstanding: 104.8 Million
Symbol & Exchange: BNT.V
MONTREAL, May 20 /CNW Telbec/ - Blue Note Mining Inc. (TSXV: BNT) reports that, notwithstanding the lack of response from Gold Hawk Resources' management to its formal call to replace the Gold Hawk board of directors (See Blue Note's news release of May 11, 2010), Blue Note is inviting all Gold Hawk shareholders to an information session to be held on Wednesday, May 26, 2010 at 12:00 p.m. (Montreal time) at THE MONTREAL SHERATON CENTRE 1201,West René-Lévesque Blvd, Montreal, Quebec, Room AB.
All interested parties are asked to RSVP to Laurel Hill Advisory Group toll-free at 1-877-304-0211 (Banks and Brokers call collect at 416-304 0211)
The information session will provide Gold Hawk shareholders with the opportunity to ask questions directly to Blue Note's management who will be reiterating their plan to merge the two companies in order to create substantial shareholder value.
Blue Note's management remains open and available to Gold Hawk's management to discuss a mutually beneficial arrangement that will ensure shareholder value while arriving at an expeditious resolution to this matter.
For more detailed information, Gold Hawk shareholders may refer to Blue Note's news release dated May 11, 2010 and the related Proxy Circular. (Both available at www.bluenotemining.ca)
About Blue Note Mining Inc.
Blue Note Mining is a mineral exploration and mining company headquartered in Montreal with properties located in known gold regions of Canada, including the prolific Val-d'Or region of Quebec and northern New Brunswick. Blue Note's first goal is to put the Croinor Gold Property into production.
Forward-looking statements included or incorporated by reference in this document include statements with respect to (i) the election of Blue Note's nominees to Gold Hawk's board of directors; (ii) Blue Note's assets, financial position, management team, production targets and business plans following the Offer (if any); (iii) the benefits to the shareholders of Gold Hawk and Blue Note that may result from the Offer; and (iv) Blue Note's business plans if the Offer is successfully completed. Although Blue Note believes the expectations reflected in these forward-looking statements are based on reasonable assumptions, they can give no assurances that these expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) advancing the Croinor gold project can be achieved without unforeseen delays or expenses, (ii) Gold Hawk has no undisclosed material liabilities (and there are no undisclosed material facts about Gold Hawk) that would have a material adverse effect on Blue Note's ability to implement its business plan if the combination of Blue Note and Gold Hawk is completed, (iii) the price of gold will remain sufficiently high and the costs of advancing the Croinor gold project sufficiently low so as to permit Blue Note to pursue its business plan in a profitable manner, (iv) the Croinor gold project conforms in all material respects with the reports prepared under NI43-101 with respect to that deposit and (v) that the payments that Gold Hawk may be required to make to its President, VP of finance and VP projects (the "Officers") under the change of control provisions in their employment agreements (if those provisions are enforceable) will not unduly burden Gold Hawk's financial resources. Factors that could cause actual results to differ materially from expectations include the failure of Blue Note's nominees to win election, the success or failure of the Offer, the effects of general economic conditions, the price of metals, actions by government or regulatory authorities (including approval of Blue Note's acquisition of Gold Hawk by the TSX Venture Exchange), uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the products of Blue Note or Gold Hawk, competitive pressures and the enforceability of the provisions in the employment agreements of the Officers purporting to award severance payments in case of their departure following a change of control in Gold Hawk. These factors and others are more fully discussed in the filings with Canadian securities regulatory authorities of Blue Note, including Blue Note's proxy circular that will shortly be sent to Gold Hawk's shareholders and available at www.sedar.com.
"Neither the 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."
SOURCE Blue Note Mining Inc.
For further information: For further information: Glenn Massad, Vice President, Investor Relations, Blue Note Mining, (800) 937-3095 x 230, firstname.lastname@example.org, www.bluenotemining.ca