Exploration Program In The Colomac Center Area

TORONTO – Nighthawk Gold Corp. reported on the drill assay results from its 2022 Exploration Program, with encouraging results from its 24 and 27 Deposits (the “24/27 Deposit”) located in the Colomac Center Area on its property in the Northwest Territories, Canada.

Keyvan Salehi, President & CEO, said, “We received more encouraging drill assay results from the Colomac Center. 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. The potential expansion of the open-pit mineralization in the Colomac Center appears to be supported by the data received so far.”

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.

Most of the 2022 exploration drilling at 24/27 Deposit was 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 Estimate pit shells, which suggest the potential expansion of the mineral resources in these areas.

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. 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.