Core Hole PD99-23 on Seahawk's Piteiras Property Recovers Additional Large Emeralds.

Business Editors

ENGLEWOOD, CO--(BUSINESS WIRE)--Jan. 10, 2000

Seahawk Minerals Ltd. (CDNX: SKM.)(the "Company") is pleased to announce that ongoing in-fill drilling on the Piteiras emerald property in Minas Gerais, Brazil continues to recover a number of large emeralds within the drill core. Diamond drill hole PD99-23, located approximately 70 metres east of PD99-21, contains several large crystals on the surface of the core including crystal faces measuring 17mm by 12mm, 23mm by 9mm, and 7mm by 4mm within a 2.07 metre intersection of metasomatized ultrabasic phlogopite schist. These crystals are strongly coloured and well-formed. Final emerald counts and measures will be reported upon completion of core crushing to take place in the next few weeks.

Further, the drill core from hole PD99-21 has now been completely crushed and analyzed with the total aggregate emerald weight of 176 carats. The two largest crystals recovered (as previously reported in the December 13, 1999 press release) weigh 102 carats and 37 carats, respectively. As these crystals were cut by the diamond drill bit, a determination of the original size of the crystals cannot be made.

Despite the significant rain being encountered at Piteiras, diamond drilling continues on the property with the remaining ten holes scheduled for completion over the next several weeks. Mr. Christopher W. Taylor, President of the Company, stated that "the pervasive recovery of emeralds within drill core, combined with the uniformity and consistency of the emerald bearing horizon and related geology, continues to confirm the significance of the Piteiras deposit."

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.