Hawk announces granting of incentive stock options

CALGARY, May 3 /CNW/ - Hawk Exploration Ltd. ("Hawk" or the "Corporation") (TSX Venture Exchange: HWK.A and HWK.B) announces that it has granted a total of 1,099,500 options to directors, officers, employees and consultants, of which 907,500 were granted to directors and executive officers. Each option entitles the holder the right to acquire one Class A Share of the Corporation at an exercise price of $1.00 per Class A Share and expire ten years from the date of issue. The options vest equally over a three year period on the first, second and third anniversary from the date of grant. There are now options outstanding to purchase a total of 2,109,500 Class A Shares of the Corporation, or approximately 9.2% of the Corporation's issued and outstanding Class A and Class B Shares.

Hawk is a newly formed company engaged in the exploration, development and production of conventional crude oil and natural gas in western Canada and is based in Calgary, Alberta.

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

SOURCE Hawk Exploration Ltd.

For further information: For further information: Steve Fitzmaurice, President, CEO and Chairman, Tel: (403) 264-0191 Ext 225, Email: steve@hawkexploration.ca; Dennis Jamieson, Chief Financial Officer, Tel: (403) 264-0191 Ext 234, Email: dennis@hawkexploration.ca

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Hawk Exploration Ltd.

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