Nighthawk Gold Corp. (TSX: NHK) (OTCQX: MIMZF) is pleased to report the remaining assay results from the Colomac Main Deposit within the Colomac Centre Area.

Table 1 – Highlight Drill Assay Results from the Colomac Main Deposit

Note: True widths remain undetermined at this stage. All assays are uncut. Further statistical analysis will be required prior to establishing a suitable cut grade.

Nighthawk President & CEO Keyvan Salehi commented, “The Colomac Main Deposit continues to deliver high-grade, near-surface mineralization over meaningful widths, suggesting the strong potential to expand the open-pit mineral resources of the deposit. We see a lot more upside along the main deposit at Colomac, along strike and at depth. The open-pit part of the deposit is still shallow due to lack of drilling and sufficient data along the 7km trend and can grow substantially with successfully targeting and drilling the higher-grade mineralization as shown with the latest results published in this press release.”

Colomac Main Deposit

The Colomac Centre Area (please refer to Figure 2 for the Regional Map) represents a group of five proximal deposits (Colomac Main, Grizzly Bear, Goldcrest, 24 & 27) in the heart of the Colomac Gold Project. The latest batch of drill assay results from the Colomac Main Deposit (please refer to Figure 3 for the Local Map of the Drill Hole Locations) targeted near surface mineralization outside the current Mineral Resource Estimate¹ pit-shells, with the goal of expanding the middle areas (Zones 2.5 and 3.0) of the deposit.

Drilling in Zone 2.5 intersected wider intervals of near-surface mineralization (highlighted by holes C22-40, C22-45, and C22-34) with gold grades that are higher than the 2022 MRE¹ grades of the deposit, suggesting the potential expansion of the estimated pit-shells in that area.

Please refer to Tables 1 and 2 for the Highlight Drill Assay Results and Drill Assay Results Summary of the latest batch of drilling at the Colomac Main Deposit, respectively. Please refer to Figures 4 and 5 for the section views of the Highlight Drill Assay Results.

Note: True widths remain undetermined at this stage. All assays are uncut. Further statistical analysis will be required prior to establishing a suitable cut grade.

Technical Information

The pit shell outlines in Figures 1 to 5 are from the 2022 MRE¹ and were completed by InnovExplo Inc. and are defined by a US$1,600/oz gold price assumption. Nighthawk has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. Drill core samples were transported in security-sealed bags for analyses at ALS Global Assay Laboratory in Vancouver, BC. ALS Global is an ISO/IEC 17025 accredited laboratory. Halved drill core is stored on site and pulps are returned and stored for record. As part of its QA/QC program, Nighthawk inserts external gold standards (low to high-grade), blanks and duplicates every 20 samples in addition to the standards, blanks, and pulp duplicates inserted by ALS Global.

Qualified Person

John McBride, MSc., P.Geo., Vice President of Exploration for Nighthawk, who is the “Qualified Person” as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release.

About Nighthawk Gold Corp.

Nighthawk is a Canadian-based gold exploration company with 100% ownership of more than 930 km² of district-scale land position within the Indin Lake Greenstone Gold Belt, located approximately 200 km north of Yellowknife, Northwest Territories, Canada. The Company is advancing several highly prospective exploration targets. The Colomac Gold Project currently has a Mineral Resource Estimate¹ of 58.2 million tonnes grading 1.44 g/t Au for 2.69 million ounces in the Indicated category and 19.7 million tonnes grading 2.10 g/t Au for 1.33 million ounces in the Inferred category. Nighthawk’s experienced management team, with a track record of successfully advancing projects and operating mines, is working towards demonstrating the economic viability of its assets and rapidly advancing its projects towards a development decision.

Figure 1 – Colomac Main Deposit (Zones 2.5 and 3.0) Isometric View Looking West (Graphic: Business Wire)

Figure 2 – Colomac Centre Regional Map (Graphic: Business Wire)

Figure 3 – Colomac Main Deposit – Local Map of the Drill Hole Locations (Graphic: Business Wire)

Figure 4 – Colomac Main Deposit (Zone 2.5) – Section View #1 (Graphic: Business Wire)

Figure 5 – Colomac Main Deposit (Zone 2.5) – Section View #2 (Graphic: Business Wire)