VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/07/13 -- Redhawk Resources, Inc. ("Redhawk" or the "Company") (TSX: RDK)(OTCQX: RHWKF)(FRANKFURT: QF7) is pleased to announce in response to interest expressed by third parties, the Board of Directors has decided to explore various strategic alternatives for the Company to maximize shareholder value, including the possible sale of the Company. In connection with this process, the board has retained CIBC World Markets Inc. as its exclusive financial advisor. There can be no assurance that a transaction will result involving Redhawk. In the meantime, the Company will continue advancing its Copper Creek project.
Redhawk is a Canadian-based resource exploration and development company with primary focus on the accelerated development of its advanced stage Copper Creek copper-molybdenum project in San Manuel, Arizona. The 100% owned Copper Creek property consists of approximately thirty-five square miles of contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona and about 15 miles east of San Manuel. The property is in the prolific southwest US porphyry copper belt at the projected intersection of a major northwest belt of porphyry copper deposits or mines (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east-northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci). The property is within sight of the former BHP Kalamazoo/San Manuel copper smelter and mine and within 30 miles of an existing operating copper mill and smelter. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure including power, rail, water, roads and qualified consultants.
ON BEHALF OF THE BOARD
J. Stephen Barley, Executive Chairman
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, Redhawk does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Redhawk to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
Neither TSX Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Redhawk Resources, Inc.
J. Stephen Barley
Most Popular Stories
- AIG to Create 230 Jobs in Charlotte
- Bipartisan Negotiators Reach Modest Budget Agreement
- Russia Says Nyet to Canada North Pole Claim
- Justin Bieber Visits Typhoon Victims, Plays Concert
- Senate Dems Move Forward With Obama Nominees
- Obama Nominee Confirmed for D.C. Appeals Court
- New Obama Aide to Focus on Climate Change
- MasterCard to Split Shares, Raise Dividend
- GOP, Dems Strain to Unearth a Modest Budget Pact
- 15 Myths That Could Ruin Your Hispanic Ad Campaign