WHD West Hawk Development Corp.

West Hawk Development Corp. (TSX VENTURE:WHD) (the "Company") wishes to update
investors on the status of certain of its property interests. In its press
release issued on September 4, 2008 the Company stated that it had entered into
3 letters of intent to acquire three metallurgical coal mines in
Oklahoma/Arkansas. The 3 acquisitions to be: an 85% interest in the Heavener
mine, a 50% interest in the Coal Creek mine and a 100% interest in the Rock
Island mine. The Company after careful consideration has decided to terminate
the letters of intent for the Coal Creek and Rock Island properties originally
announced September 4, 2008. Following the negative events that saw the bail out
and bankruptcy of some of the largest Banks and financial institutions in the US
and Europe, the liquidity in the financial markets has dried up. Despite the
current capital markets, West Hawk Development is still pursuing its target of
raising money necessary to finance its activities, including the acquisition of
the Heavener Mine, but there is no assurance that the Company will be
successful.


The Company would also like to clarify the status of the Northwest Territories
("NWT") and Nunavut coal property licenses. With regard to the NWT licenses, the
Company submitted an application to the Mining Recorder of the Northwest
Territories in July 2008 to renew the coal licenses. The Company is currently
working with the Mining Recorder office to ensure all appropriate steps are
taken to receive approval. If these licenses can not be renewed, the Company
will remove them from its portfolio. The Nunavut licenses lapsed in March 2008.
Despite the Company's submission in mid 2008 of an application to re-acquire the
Nunavut coal licenses, the Company has since decided to abandon the Nunavut
property following the adoption of a cost reduction plan.


As a result of the current market conditions, the Company is implementing a
major cost reduction plan and will make further announcements in this regard as
necessary.


On behalf of the Board of Directors,

Dr. Wm. Mark Hart, President and Chief Executive Officer

About the Company: West Hawk Development Corp. is focused on providing valuable,
high-demand energy products from a variety of sources. Assets include the Figure
Four natural gas property located in the Piceance Basin, Colorado, being
developed under a drilling and development agreement and the Groundhog coal
property located in northwest British Columbia.


Cautionary Note: This news release contains forward looking statements,
particularly those regarding cash flow, capital expenditures and investment
plans. Resource estimates, unless specially noted, are considered speculative.
The Company has filed a National Instrument 51-101 Report on the Figure Four
property. The Company has also filed National Instrument 43-101 Reports for each
of the Groundhog coal property in British Columbia and the Tulita coal property
in the Northwest Territories. By their nature, forward looking statements
involve risk and uncertainties because they relate to events and depend on
factors that will or may occur in the future. Actual results may vary depending
upon exploration and development activities, industry production, commodity
demand and pricing, currency exchange rates, and, but not limited to, general
economic factors. Cautionary note to U.S. investors: The U.S. Securities and
Exchange Commission specifically prohibits the use of certain terms, such as
"reserves" unless such figures are based upon actual production or formation
tests and can be shown to be economically and legally producible under existing
economic and operating conditions.

Grafico Azioni West Hawk Development Corp. (TSXV:WHD)
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Da Mag 2024 a Giu 2024

Grafico Azioni West Hawk Development Corp. (TSXV:WHD)
Storico
Da Giu 2023 a Giu 2024