Nighthawk Gold Corp: Nighthawk Intersects 154.95 Metres of 1.36 gpt AU (Uncut), Including 8.00 Metres of 5.51 gpt AU at Colomac

TORONTO, ON / ACCESSWIRE / December 21, 2020 / Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX:NHK)(OTCQX:MIMZF) is pleased to report assay results for four (4) drill holes (1,993metres) completed at Zones 2.0 and 2.5 of the Colomac Main Sill, part of the Colomac Gold Project ("Colomac") centrally located within its Indin Lake Gold Property, Northwest Territories, Canada (Figure 1; Table 1).

Drilling was designed to continue testing the Colomac Main Sill below the current resource within the two zones (Figure 2), and to follow up on previous drilling which has resulted in the extension of broad uniform zones of mineralization to new depths.

Dr. Michael Byron, President and CEO commented, "Drilling at Zone 2.0 has continued to demonstrate its well-mineralized nature and consistent widening of the deposit to depth, with drilling at Zone 2.5 extending continuous mineralization to depth. Both areas remain largely untested.

Drilling success to-date has further strengthened resource expansion opportunities by confirming the presence of broad and extensive zones of mineralization that increase in true width to depth where it remains open in most dimensions."

COLOMAC DRILLING HIGHLIGHTS:

Zone 2.0

• Hole C20-10 returned 154.95 metres (60.00 metres true width) of 1.36 grams per tonne gold ("gpt" "Au") with several internal higher-grade intercepts (Figure 3):
  • Upper intersection - 12.75 metres of 3.80 gpt Au, including 8.00 metres of 5.51 gpt Au, and including 3.70 metres of 9.35 gpt Au
  • Lower intersection - 52.80 metres of 1.54 gpt Au, including 12.50 metres of 3.02 gpt Au, and including 5.40 metres of 4.96 gpt Au
• Hole C20-10B returned 135.00 metres (45.00 metres true width) of 1.50 gpt Au with several internal higher-grade intercepts:
  • Drilling intersected 210 metres of relatively continuous downhole mineralization, which corresponds to an 80-metre true width of the mineralized sill at 520 metres vertical depth.
  • Upper intersection - 34.00 metres of 2.30 gpt Au, including 5.50 metres of 4.50 gpt Au
  • Lower intersection - 17.50 metres of 2.25 gpt Au, including 10.30 metres of 2.46 gpt Au
• Holes C20-10 and C20-10B have helped delineate uninterrupted mineralization from near surface to over 500 metres vertical depth where it remains open, effectively extending resource growth opportunities to depth beneath the historic main open pit at Zone 2.0 (Figure 2)

Zone 2.5

• Hole C20-12 intersected 34.50 metres (11.00 metres true width) of 1.85 gpt Au, including 18.00 metres of 2.83 gpt Au, and including 6.00 metres of 4.88 gpt Au; tracking mineralization to 320 metres vertical depth where it remains open.

Note: All assays are uncut (see Table 1)

Of the twenty-nine (29) drillholes (16,421 metres) completed at Colomac in 2020, seventeen (17) drillholes for 9,703 metres have now been released. Drilling results are also pending for fifteen holes (15) for 5,511 metres completed at the Treasure Island Gold Project, one of the Company's high-grade, high-priority regional targets located 11km north northwest of Colomac.

Table 1. Colomac Drill Results - Summary Table (uncut)

The FULL ASSAY TABLE is available as a media document within this release as well as on the Company's website at https://www.nighthawkgold.com/news

Hole ID	Zone	Collar Orientations (degrees)		Intersection (Metres)		Core Length	True Width	Gold Grade
		Azimuth	Dip	From	To	(Metres)*	(Metres)	gpt
C20-10	2.0	280	-70	284.30	439.25	154.95	60.00	1.36
including				284.30	297.75	13.45		1.49
including				284.30	287.40	3.10		2.31
including				291.25	297.75	6.50		1.58
including				314.75	327.50	12.75		3.80
including				319.00	327.00	8.00		5.51
including				319.00	322.70	3.70		9.35
including				319.00	320.70	1.70		17.75
including				326.00	327.00	1.00		6.98
including				364.20	374.15	9.95		2.42
including				368.95	374.15	5.20		3.72
including				383.15	435.95	52.80	18.00	1.54
including				400.55	405.30	4.75		1.71
including				412.00	434.20	22.20	10.00	2.17
including				412.00	424.50	12.50		3.02
including				413.10	418.50	5.40		4.96
C20-10B	2.0	280	-75	340.20	475.20	135.00	45.00	1.50
including				340.20	429.85	89.65		1.74
including				341.40	375.40	34.00	11.00	2.30
including				341.40	349.60	8.20		2.48
including				347.60	349.60	2.00		5.91
including				358.35	375.40	17.05		2.85
including				358.35	363.85	5.50		4.50
including				371.50	375.40	3.90		3.23
including				386.80	404.10	17.30	5.00	2.25
including				393.80	404.10	10.30		2.46
including				407.00	416.15	9.15		1.91
including				410.65	416.15	5.50		2.46
including				447.70	463.30	15.60		1.72
including				451.75	454.50	2.75		3.38
				479.40	484.60	5.20		1.56
including				482.85	483.85	1.00		6.52
C20-12	2.5	290	-75	278.00	312.50	34.50	11.00	1.85
including				278.00	304.00	26.00		2.21
including				278.00	296.00	18.00	5.00	2.83
including				278.00	284.00	6.00		4.88
including				278.00	281.75	3.75		6.93
including				292.25	296.00	3.75		4.13
including				310.50	312.50	2.00		2.87
including				310.50	311.50	1.00		5.18
				330.00	334.00	4.00		2.57
C20-13	2.5	285	-75	275.00	286.00	11.00		1.28
including				278.75	285.25	6.50		1.89
including				280.75	284.00	3.25		3.18
including				280.75	281.75	1.00		6.95
				292.00	292.75	0.75		2.68
				301.00	321.50	20.50	9.00	0.47

* Lengths are reported as core lengths. True widths vary depending on drill hole dip.

Figure 1. Plan View of Colomac Main Sill - Drillhole Locations

Figure 2. Colomac Main Sill Longitudinal Section - Showing 2020 Drilling To-Date in Relation to the 2020 Resource

Figure 3. Cross Section - Zone 2.0 - Drillholes C20-10, C20-10B

Figure 4. Cross Section - Zone 2.5 - Drillhole C20-12

Technical Information

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"). ALS Global is an ISO/IEC 17025 accredited laboratory. Pulp and metallics assaying for gold was conducted on the entire pulverized sample.

As part of its QA/QC program, Nighthawk inserts external gold standards (low to high-grade) and blanks every 20 samples in addition to the standards, blanks, and pulp duplicates inserted by ALS Global.

About Nighthawk

Nighthawk is a Canadian-based gold exploration company with 100% ownership of a district-scale land position within the Indin Lake Greenstone Belt, located approximately 200 km north of Yellowknife, Northwest Territories, Canada. Nighthawk has advanced its flagship asset Colomac, outlining a robust project with current Indicated Resources of 25.89 Mt with an average grade of 2.01 gpt Au for 1.67 Moz of gold and Inferred Resources of 5.71 Mt with an average grade of 2.03 gpt Au for 0.37 Moz of gold, with the majority of ounces contained within an underground resource. Near-term resource expansion opportunities exist proximal to the current resources, and additional upside exists throughout the +7km strike length of the host quartz diorite with a substantial opportunity at depth where the true width is known to expand significantly across a 3.5km-long section. Within this largely underexplored Archean gold camp, the Company has identified a number of high-priority targets within large regional deformation zones that are pregnant with gold mineralization and are known to host significant deposits which warrant additional exploration and follow-up.

The Company has an experienced and dedicated team with a track record of successfully advancing projects and is well funded and supported to complete its goals and objectives.

Qualified Person

Technical information related to the 2020 Mineral Resource Estimate on the 100% owned Indin Lake Gold Property (the "2020 MRE") was reviewed and approved by Marina Iund, M.Sc., P.Geo., Project Geologist and Carl Pelletier, P.Geo., Co-President Founder of InnovExplo who are independent Qualified Persons as defined by NI 43-101, with the ability and authority to verify the authenticity and validity of this data. Please refer to the NI 43-101 technical report "NI 43-101 Technical Report and Mineral Resource Estimate for the Indin lake Gold Property, Northwest Territories, Canada", dated September 11, 2020, as filed under the company's profile on www.sedar.com.

Dr. Michael J. Byron, Ph.D., P.Geo., President & Chief Executive Officer of 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

NIGHTHAWK GOLD CORP.
Tel: [phone]; Email: [e-mail]
Website: www.nighthawkgold.com

Dr. Michael Byron
President & CEO
Tel: [phone]

Michael Leskovec
CFO
Tel: [phone]

Suzette N Ramcharan
VP, Corporate Development
Tel: [phone]

Neither the Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to the Company's continued exploration programs (including size and budget) and the ability to advance targets and the timing and results thereof; the 2020 MRE; and access to available capital to complete all work necessary to achieve the Company's stated goals and objectives. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".

Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nighthawk to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Nighthawk's annual information form for the year ended December 31, 2018, available on www.sedar.com. Although Nighthawk has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Nighthawk does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE: Nighthawk Gold Corp

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