| ||July 24, 2007|
Hawthorne Gold Retains Grandich Publications
| ||Hawthorne Gold Corp. ("Hawthorne") -- TSX-V: HGC announces it has entered into an agreement to retain the services of Grandich Publications LLC ("Grandich"), to provide an investor relations and communications program for the Company for a period of one year. Peter Grandich is the founder and managing member of Grandich Publications, LLC. Grandich publishes The Grandich Letter. First published in 1984, The Grandich Letter provides stock market and economic commentary. In addition, Grandich also provides a variety of services to publicly-held corporations on a compensation basis. Mr. Grandich is a long-standing member of The New York Society of Security Analysts and The Society of Quantitative Analysts.|
Grandich will receive a fee of US$2,000 per month commencing August 1st and has been granted 100,000 stock options for a period of two years. The options are exercisable at $1.60 per share and vesting 25% every three months during the first year of the options. The agreement is subject to the acceptance of the TSX Venture Exchange. The Company and Grandich are at arms length.
About the Frasergold Option Agreement
Pursuant to an option agreement dated October 31, 2006 between Hawthorne and Eureka Resources Inc. (TSX-V: EUK), Hawthorne can earn a 51% interest in the Frasergold property by completing exploration expenditures totaling $3.5 million, completing a feasibility study by April 30, 2010 and making cash payments totaling $175,000 before October 31, 2009. Hawthorne can earn a further 9% (for a total of 60%) by arranging financing for 70% of the estimated capital costs for production.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties located in British Columbia, Canada. Hawthorne Gold is managed by well-respected mining leaders Richard Barclay and Michael Beley. Together with mining veteran Michael Redfearn, and a strong board of Directors from across the mining industry, the goal is to become another successful gold company through focused exploration initiatives, continued development of the Frasergold mineral deposit and potential acquisitions of other projects.
For more information, contact Robert Ferguson at (604) 629-1505 or toll free at 1-888-629-1505 or you can visit the Company's website at www.hawthornegold.com.
ON BEHALF OF HAWTHORNE GOLD CORP.
"Richard J. Barclay"
President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release.
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