Hawk Announces Cancellation of Certain Stock Options

Hawk Exploration Ltd. announces that it has cancelled options (“Options”) to acquire an aggregate of 1,011,500 common shares (“Common Shares”) in the capital of the Corporation granted May 3, 2010 at an exercise price of $1.00 per Common Share. All of the cancelled Options were voluntarily surrendered by directors, officers, and employees of Hawk and, of such options, 852,500 were held by directors and officers of Hawk.

Hawk is an emerging exploration company engaged in the exploration, development and production of conventional crude oil and natural gas in western Canada and is based in Calgary , Alberta. The Class A shares and Class B shares of Hawk trade on the TSX Venture Exchange under the trading symbols HWK.A and HWK.B, respectively.

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.