Precious Metals
January 8, 2023

Nighthawk Gold (TSX: NHK)

Reports 2.91 G/T Au Over 54.35M At The 24/27 Deposit And 3.02 G/T Au Over 20.25M At The Grizzly Bear Deposit Within The Colomac Centre

Nighthawk Gold (TSX: NHK; OTCQX: MIMZF) is pleased to report additional drill assay results from its 2022 Exploration Program, with encouraging results from the Grizzly Bear Deposit and 24 and 27 Deposits (collectively, the “24/27 Deposit”) within the Colomac Centre Area.

Nighthawk President & CEO Keyvan Salehi commented, “The latest drill results, combined with results released previously from Grizzly Bear1 and 24/272 Deposits, demonstrate the immense potential for mineral resource expansion within the Colomac Centre.”

Figure 1 – 24/27 Deposits Isometric View Looking West

Figure 1

Figure 2 – The Grizzly Bear Deposit Isometric View Looking West

Figure 2

24/27 Deposit

The Colomac Centre Area (please refer to Figure 3 for the Plan View Map) represents a group of five proximal deposits (Colomac Main, Grizzly Bear, Goldcrest, 24/27) in the heart of the Colomac Gold Project. The Company continued to intersect higher-grade intervals from the infill and step-out drilling at the 24/27 Deposit. Nighthawk has identified stacked zones of mineralization, increasing the width of the mineralized corridor, suggesting the potential expansion of the mineral resources in the area. Mineralization continues to remain open in all directions of 24/27 Deposit. Please refer to Figures 1, 4, and 5 for the 24/27 Deposit drilling Isometric, Plan, and Section views, respectively. Please refer to Tables 1 and 2 for the Highlight Drill Assay Results and Drill Assay Results Summary, respectively.

Grizzly Bear Deposit

The Grizzly Bear Deposit is located approximately 800 m southwest of the Colomac Main Deposit. Mineralization at the Grizzly Bear Deposit is hosted in smoky quartz veining in the felsic volcanic porphyry, along the lower contact to the mafic-intermediate volcanics. The current batch of drill results intersected downdip mineralized intervals along the boundary and outside of the pit-constrained Grizzly Bear Deposit 2022 Mineral Resource Estimate3, suggesting the potential expansion of the mineral resources in the area. Please refer to Figures 2, 6, 7, and 8 for the Isometric View, Plan View, Section View #1, and Section View #2 of the Grizzly Bear Deposit drilling, respectively.

Figure 3 – Colomac Centre Plan View Map

Figure 3

Figure 4 – 24/27 Deposits – Local Plan View

Figure 4

Figure 5 – 27 Deposit – Section View #1

Figure 5

Figure 6 – Grizzly Bear Deposit Local Plan View

Figure 6

Figure 7 – Grizzly Bear Section View #1

Figure 7

Figure 8 – Grizzly Bear Deposit Section View #2

Figure 8

Disclaimer: Nighthawk Gold is a paid marketing client*