HK Huakan International Mining Inc.

Huakan International Mining Inc. (TSX VENTURE:HK) (the "Company") reports that
the Company has agreed to allow Gold Crown LLC and its wholly owned subsidiary,
AMT Industries Canada Inc. (collectively, the "Purchasers") an extra 30 days to
execute and deliver to the Company a safekeeping agreement (the "Safekeeping
Agreement") and post a reclamation bond with the Government of British Columbia
in an amount and form acceptable to the Government of British Columbia (the
"Reclamation Bond") to enable the release of the Company's reclamation bond of
C$450,000 and the assignment of the mine permits from the Company to the
Purchaser according to the amended asset purchase agreement in respect of the
Company's Greenwood Gold Project (the "Agreement"). 


As part of a letter agreement entered into on August 7, 2012 (see the News
Release of the Company dated August 8, 2012), the Purchasers agreed to provide
the Safekeeping Agreement and to post the Reclamation Bond by October 6, 2012.
The deadline for the Purchasers to complete the above has been extended to
November 5, 2012. Following the execution and delivery of the Safekeeping
Agreement and the posting of the Reclamation Bond by the Purchasers, the parties
have agreed to cooperate in order to transfer the mining permits in respect of
the Greenwood Gold Project from the Company to the Purchasers. All other terms
and conditions of the Agreement remain unchanged.


CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING INFORMATION

Certain of the statements made and information contained herein may contain
forward-looking statements or forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or forward-looking
information include, but are not limited to, statements concerning the sale of
the Greenwood Gold Project assets. Forward-looking statements or information
include statements regarding the expectations and beliefs of management. Often,
but not always, forward-looking statements and forward-looking information can
be identified by the use of words such as "plans", "expects", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes" or the negatives thereof or variations of such words and phrases or
statements that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved. Forward-looking statements or
information include, but are not limited to, statements or information with
respect to known or unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company, or
industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements or information. 


Forward-looking statements or information are subject to a variety of risks and
uncertainties which could cause actual events or results to differ from those
reflected in the forward-looking statements or information, including, without
limitation, risks and uncertainties relating to: completion of announced
transactions, history of losses; requirements for additional capital; dilution;
loss of its material properties; interest rates increase; global economy;
limited history of production; speculative nature of exploration activities;
periodic interruptions to exploration, development and mining activities;
environmental hazards and liability; industrial accidents; failure of processing
and mining equipment; labour disputes; supply problems; commodity price
fluctuations; uncertainty of production and cost estimates; the interpretation
of drill results and the estimation of mineral resources and reserves; legal and
regulatory proceedings and community actions; title matters; regulatory
restrictions; permitting and licensing; volatility of the market price of common
shares; insurance; competition; hedging activities; currency fluctuations; and
loss of key employees. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described in forward-looking statements or
information. Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information. The Company disclaims any intent or
obligation to update forward-looking statements or information except as
required by law, and you are referred to the full discussion of the Company's
business contained in the Company's reports filed with the securities regulatory
authorities in Canada.

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