Nighthawk drills 1.91 g/t gold over 60.95 metres at Indin Lake, Northwest Territories

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Nighthawk Gold Corp. [NHK-TSX; MIMZF-OTCQX] reported initial drill assay results from its 2022 exploration program, with encouraging results from its Colomac Main and Grizzly Bear deposits at the Indin Lake Greenstone Gold Belt, located approximately 200 km north of Yellowknife, Northwest Territories.

Highlights include drill hole C22-04 (Colomac Main Zone 1.0) that returned 1.91 g/t gold over 60.95 metres, including 63.20 g/t gold over 0.50 metres. C22-03 (Colomac Main Zone 1.0) returned 1.13 g/t gold over 32.32 metres, including 30.90 g/t gold over 0.75 metres.

GB22-07 (Grizzly Bear) returned 0.59 gold over 19.85 metres, including 4.80 g/t gold over 0.75 metres. GB22-08 returned 0.45 g/t gold over 26.50 metres, including 2.56 g/t gold over 0.75 metres. GB22-14 returned 1.40 g/t gold over 14.85 metres, including 20.80 g/t gold over 0.75 metres.

Keyvan Salehi, Nighthawk President and CEO, commented, “Our goal for this year’s drill program was to continue to expand the open-pit mineralization at the Colomac Centre and the Satellite Deposits. The initial assay results are very encouraging. In the Colomac Main Deposit (Zone 1.0) and adjacent to existing pit shells, we encountered wide intervals of mineralization outside of the current Mineral Resource Estimate pit shell. This is exemplified by drill hole C22-04, which intersected 1.91 g/t gold over 60.95 metres, suggesting the potential expansion of the potential open-pit mineralization in that area. Similarly, we encountered mineralization outside of the current Mineral Resource Estimate1 north pit shell at Grizzly Bear.

“We have completed more than 25,000 metres of drilling to-date. We have moved our drills to the high-potential Kim and Cass Deposits for the remainder of our exploration program drilling. We expect to update the markets as we continue to receive the drill assay results going forward.”

Drilling in 2022 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. The initial set of drill assay results represents 5,616 metres of drilling. Five drills currently operating at site.

Exploration drilling in 2022 at the Colomac Main deposit is focused on the northern (Zones 1.0 and 1.5) and southern (Zone 3.5) areas of the deposit. The company believes there is a high probability of expanding the potential open-pit mineralization in these areas. Drilling to-date has encountered wide intervals of mineralization, hosted in smoky quartz veining in quartz diorite. In particular, drill holes C22-03 and C22-04 (mineralization started at depth below surface of 85 m) intersected mineralization outside of the 2022 MRE1 pit shells, demonstrating continuity of near-surface mineralization to the north.

Drilling in 2022 at the Grizzly Bear Deposit focused on expanding mineralization around the north end of the deposit. Mineralization is hosted in smoky quartz veining in the felsic volcanic porphyry. Drill holes GB22-07 and GB22-08 intersected mineralization below the 2022 MRE1 pit shell at Grizzly Bear.

Nighthawk has 100% ownership of more than 930 km2 of district-scale land position within the Indin Lake Greenstone Gold Belt. The company is advancing several highly prospective exploration targets. The Colomac Centre and Satellite deposits currently has a Mineral Resource Estimate1 of 58.2 million tonnes grading 1.44 g/t gold for 2.69 million ounces in the Indicated category and 19.7 million tonnes grading 2.10 g/t gold for 1.33 million ounces in the Inferred category. Nighthawk is working toward demonstrating the economic viability of its assets and rapidly advancing its projects towards a development decision.

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