Precious Metals
July 28, 2022

Nighthawk Gold (TSX: NHK)

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Reports 6.75 G/T Au Over 12.75 M At Its 24/27 Deposit Within The Colomac Centre Area

Nighthawk Gold  (TSX: NHK; OTCQX: MIMZF) is pleased to report the initial drill assay results from its 2022 Exploration Program, with encouraging results from its 24 and 27 Deposits (collectively, the “24/27 Deposit”) located in the Colomac Centre Area on its property in the Northwest Territories, Canada.

Keyvan Salehi, P.Eng. (Nighthawk President & CEO) commented, “We received more encouraging drill assay results from the Colomac Centre. The 24/27 Deposit drilling yielded higher-grade, near-surface mineralization outside the current Mineral Resource Estimate1 pit shells. Drill Hole TFS22-02 intersected 6.75 g/t Au over 12.75 m and was the highlight of this batch of results (see Figure 1). The potential expansion of the open-pit mineralization in the Colomac Centre appears to be supported by the data received so far.”

Figure 1 – 24/27 Deposit Isometric View – Looking Southwest

24/27 Deposit Isometric View – Looking Southwest

2022 Exploration Program

Drilling in 2022 primarily targeted areas outside the 2022 MRE1 pit shells. Nighthawk’s goal is to continue expanding the potential pit-constrained mineralization, particularly in the higher-grade areas. This latest batch of results represents 4,387 m of drilling, bringing the total reported assay results to 10,003 m of drilling for 2022. Please refer to Figure 2 for the Colomac Centre Location Map.

24/27 Deposit

Most of the 2022 exploration drilling at 24/27 Deposit were designed to target higher-grade, near surface mineralization outside of the known mineralization. Gold mineralization in these areas is hosted by grey-white smoky quartz veins, within a sheared intermediate volcaniclastic rock bounded on the east by sediments. Most of the 24/27 Deposit drill assay results returned mineralized intersections outside the current Mineral Resource Estimate1 pit shells, which suggest the potential expansion of the mineral resources in these areas. Please refer to Figure 3 for a Plan View Map of the 24/27 Deposit drilling. Mineralized widths at the 24 Deposit were confirmed to be wider than previously thought, as evidenced by drill hole TFS22-02, which intersected mineralization of 6.75 g/t Au over 12.75 m (including 16.45 g/t Au over 2.75 m) and 1.20 g/t Au over 26.75 (including 8.41 g/t Au over 1.1 m) closer to surface than previously expected. Please refer to Figures 1, 4 and 5 for the 24/27 Deposit Isometric View, 24 Deposit Section View, and 27 Deposit Section View of the highlighted drill holes, respectively. TFS22-13 and TFS22-11 are step out drill holes located approximately 250 m to the north, along strike, of the 24/27 Deposit. Both drill holes intersected narrow mineralized quartz veining within the same intermediate volcanic on as the 24 Deposit and warrant continued exploration along strike. Additional drill assays are pending for the south extension of the 24/27 Deposit.

Figure 2 – Colomac Centre Location Map

Colomac Centre Location Map

Figure 3 – Plan View of 24/27 Deposit Drilling

Plan View of 24/27 Deposit Drilling

Figure 4 – 24 Deposit Section View – Looking North

24 Deposit Section View – Looking North

Figure 5 – 27 Deposit Section View – Looking North

27 Deposit Section View – Looking North

Disclaimer: Nighthawk Gold is a paid marketing client*

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