Nighthawk Files Technical Report for Mineral Resource Estimate on the Indin Lake Gold Project

Rhea-AI Summary

Nighthawk Gold Corp. has filed a National Instrument 43-101 compliant technical report detailing a new mineral resource estimate for its Colomac and Damoti Lake Gold Projects, located in Northwest Territories, Canada. The report indicates Indicated Resources at Colomac of 25.89 million tonnes averaging 2.01 gpt Au, totaling 1.67 million ounces of gold, and Inferred Resources of 5.71 million tonnes averaging 2.03 gpt Au, totaling 0.37 million ounces. Nighthawk maintains a strong financial position for future exploration and project advancement.

Positive

• Indicated Resources at Colomac estimated at 25.89 Mt averaging 2.01 gpt Au for 1.67 Moz of gold.
• Inferred Resources at Colomac estimated at 5.71 Mt averaging 2.03 gpt Au for 0.37 Moz of gold.
• Substantial opportunities for resource expansion identified within the project area.

Negative

• The report relies on forward-looking information which involves inherent risks and uncertainties.

TORONTO, ON / ACCESSWIRE / September 11, 2020 / Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX:NHK) (OTCQX:MIMZF) announces today that it has filed a National Instrument 43-101 ("NI 43-101") compliant technical report titled "NI 43-101 Technical Report and Mineral Resource Estimate for the Indin Lake Gold Property, Northwest Territories, Canada", outlining an updated indicated and inferred resource estimate for the Colomac Gold Project, and an initial inferred resource estimate for the Damoti Lake Gold Project, as announced July 28, 2020.

The Technical Report is available under the Company's profile on SEDAR at www.sedar.com and on the Company website at www.nighthawkgold.com.

About Us

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 several 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 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

NIGHTHAWK GOLD CORP.
Tel: 1-647-794-4313; Email: info@nighthawkgold.com
Website: www.nighthawkgold.com

Dr. Michael Byron

President & CEO
Tel: 1-647-794-4359

Michael G. Leskovec

CFO
Tel: 1-647-794-4360

Suzette N Ramcharan

VP, Corporate Development
Tel: 1-647-794-4362

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 2020 MRE. 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, 2019, 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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https://www.accesswire.com/605757/Nighthawk-Files-Technical-Report-for-Mineral-Resource-Estimate-on-the-Indin-Lake-Gold-Project

FAQ

What is the latest mineral resource estimate for Nighthawk's Indin Lake Gold Property?

Nighthawk's recent report indicates Indicated Resources of 25.89 million tonnes averaging 2.01 gpt Au, totaling 1.67 million ounces, and Inferred Resources of 5.71 million tonnes averaging 2.03 gpt Au, totaling 0.37 million ounces.

When was the technical report for the Indin Lake Gold Property filed?

The technical report was filed on September 11, 2020.

What are the main gold projects mentioned in the Nighthawk press release?

The main projects mentioned are the Colomac Gold Project and the Damoti Lake Gold Project.

Where can I access Nighthawk's technical report?

The technical report is available on SEDAR at www.sedar.com and on Nighthawk's official website.

What risks are associated with Nighthawk's forward-looking information?

Risks include economic factors, exploration uncertainties, regulatory changes, and technical difficulties that could materially affect actual results.