Nighthawk Gold Corp.  (TSX: NHK) (OTCQX: MIMZF) is pleased to report assay results from drilling at the Kim Deposit, part of the Kim and Cass Deposits, which are within 15 kilometres of the Colomac Centre Area.

Table 1 – Highlight Drill Assay Results from the Kim and Cass Deposits

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.
*Twinned holes

Nighthawk President & CEO Keyvan Salehi commented, “We believe the Kim and Cass Deposits have the potential to significantly expand the high-grade mineralization of our Project. The high-grade intercepts from the Kim Deposit drilling outside of the current Mineral Resource Estimate¹ pit-shells suggest the expansion of the known open-pit mineralization. In addition, with our analysis of the structural controls of the deposit, we were able to locate the down-dip, off-set extension of the Kim Deposit just below the 2022 MRE¹ pit-shell.”

“Up next, we intend to publish results from our Cass Deposit, which should be available in the next couple of weeks.”

Kim and Cass Deposits

The Kim and Cass Deposits are high-grade, potential open pit deposits that are located within 15 km southwest of the Colomac Centre. The Company purchased 100% of the Kim and Cass Property (which hosts the Kim and Cass Deposits) via an option agreement in 2021 (which will be completed in early 2023 with a final payment) and represents an important part of the potential “Hub-and-Spoke” future mine plan for the Colomac Gold Project. Both the Kim and Cass deposits are accessible by an existing trail that connects to the Project camp. Exploration at the Kim and Cass Deposits focused on understanding the structural controls of the mineralization and expanding the near-surface mineral resources of these deposits. Please refer to Figures 2 and 3 for the District-Scale Regional Map and Local Map of Kim Deposit drilling, respectively.

Kim Deposit

The geology of the Kim Deposit area is underlain by subvertical pillowed-to-massive mafic flows and turbiditic meta sediments which are intruded by gabbroic sills. The majority of the gold mineralization at the Kim Deposit is hosted in massive mafic volcanic flows along the metasediment contact and associated with smoky quartz-carbonate, sulphide-rich veins and display a steep-to-subvertical dip. Displacement of rock units and mineralization occurs along northwest and northeast striking faults.

2022 drilling at the Kim Deposit has intersected high-grade, near-surface mineralization outside and adjacent to the 2022 MRE¹ pit-shells as demonstrated with recent intercepts like drill holes KM22-03 and KM22-04. In addition, due to the analysis on the structural controls, Nighthawk was able to locate the down-dip offset continuation of the Kim Deposit mineralization just below the 2022 MRE¹ pit-shell, as evidenced by drill hole KM22-03. The Kim Deposit remains open at depth and along strike.

Please refer to Tables 1 and 2 for the Highlight Drill Assay Results and Drill Assay Results Summary of the Kim Deposit, respectively. Please refer to Figures 1, 4 and 5 for the Isometric, Section #1 and Section #2 views of the Kim Deposit Highlight Drill Assay Results, respectively.

Table 2 – Drill Assay Results Summary – Kim 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.
*Twinned holes

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 – Kim Deposit Isometric View Looking West (Graphic: Business Wire)

Figure 2 – District-Scale Regional Map (Graphic: Business Wire)

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

Figure 4 – Kim Deposit – Section View #1 (Graphic: Business Wire)

Figure 5 – Kim Deposit – Section View #2 (Graphic: Business Wire)