Nighthawk Reports Additional Results at Cass and Intersects a New Mineralized Zone at Albatross

Cass Hole CM21-36 returned 3.21 g/t Au over 20.50 m and CM21-37 returned 5.08 g/t Au over 9.00 m Albatross Discovery Hole A21-02 returned 1.37 g/t Au over 14.00 m

TSX: NHK  TORONTO, Dec. 1, 2021 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) (OTCQX: MIMZF) is pleased to report assay results for twenty-nine (29) drillholes (totaling 5,269 metres) at the western extension of the Cass Zone ("Cass"), located approximately 15km southwest of the Colomac Centre. The Company is also very pleased to announce a new gold intersection at the greenfield Albatross Target ("Albatross"), and reports assay results for twelve (12) drillholes (totaling 4,059 metres). Drilling at Cass (Figure 1 and 2) tested the western extension of the known historical mineralization. Two distinct lenses within the favourable host were identified, encountering higher grades and good widths locally. These new lenses added a combined 250 metres ("m") of mineralization and may be indicative of other potential lenses that may exist further west and to the north where additional drilling is warranted.

Drilling at Albatross consisted of widely spaced drillholes to test the possible continuation of the Cass trend over a strike length of 4.6km west of the Cass Zone, (Figure 1). Drilling at this greenfield target aimed to identify favourable rock types, alteration and mineralization along strike and below existing surface grab samples (which ranged up to 20.60 g/t Au), with one notable intersection demonstrating significant alteration and mineralization over good widths and confirmed the existence of a new mineralized zone.

Keyvan Salehi, President & CEO commented "We are very pleased with the results received to-date from this highly prospective area.  Drilling has added an additional 250 m of near-surface mineralization which is expected to significantly impact the resource at Cass and demonstrates that the Cass trend extends well into Albatross with some exceptional gold values. This area continues to impress especially when you take into consideration, the potential for other mineralized lenses, and that Cass remains open to the west, coupled with the discovery of new mineralization within the Albatross target area (approximately 1km west of Cass). We are encouraged that additional drilling in this area could potentially uncover new mineralized zones that carry higher grades than the current camp average, and hence deliver quality ounces to the project." Highlights of Cass West and Albatross Drilling Results

• Drilling at Cass extends mineralization by 250 m further to the west, from two distinct lenses within the favourable host (Figure 2), as highlighted by:

  • Hole CM21-36 (set up immediately below hole CM21-22) returned 3.21 grams per tonne gold ("g/t", "Au") over 20.50 m (Figure 3);

  • Hole CM21-37 returned a high-grade interval of 5.08 g/t Au over 9.00 m;

  • Hole CM21-22 returned 1.49 g/t Au over 32.00 m including a higher-grade portion of 3.37 g/t Au over 10.50 m (Figure 3); and

  • Hole CM21-19 returned 1.47 g/t Au over 23.75 m and hole CM21-34 returned 1.09 g/t Au over 30.00 m, including 2.89 g/t Au over 7.00 m, within the westernmost lens.

  • Follow-up drilling next year will test the potential for additional lenses to the north and further to the west.

• A new intersection from greenfield exploration at Albatross uncovers new mineralization and clearly demonstrates that the Cass trend extends well into Albatross.

  • Hole A21-02 returned 1.37 g/t Au over 14.00 m, including a higher-grade portion returning 5.37 g/t Au over 2.00 m.

Additional results remain pending from a series of deeper holes drilled below the central Cass zone. The Albatross discovery demonstrates the gold potential proximal to the Kim and Cass zones and could eventually contribute to the near-surface resources of the project. Follow-up drilling in this area is anticipated and will be planned once all results are processed in preparation for the 2022 drill program.

Cass Drilling (Western Extension) A total of twenty-nine (29) drillholes totaling 5,269 metres tested the western extension of the Cass mineralization as identified by historical drilling. Results reported today identified two distinct lenses within the favourable host that appear either offset towards the north or following an en-echelon geometry (Figure 1 and 2). Higher grades and good widths were demonstrated by holes CM21-22 which returned 1.49 g/t Au over 32.00 m, including 3.37 g/t Au over 10.50 m, CM21-36 which returned 3.21 g/t Au over 20.50 m, and CM21-37 which returned 5.08 g/t Au over 9.00 m. These two new lenses have added a combined 250 m of mineralization and the en-echelon stacking may point to other possible lenses further west and north of the current holes. Albatross At Albatross, twelve (12) widely spaced drillholes totaling 4,059 m were drilled to test the Cass trend (previously referred to as the Albatross trend which has now been confirmed as a continuation of the Cass trend) over a strike length of 4.6km to the west of Cass (Figure 1). The objective of this first pass of scout holes was to identify favourable rock types, alteration, and mineralization along strike and below existing surface grab sample results obtained from previous surface exploration work ranging up to 20.60 g/t Au. One notable intersection demonstrated significant alteration and mineralization over good widths. Hole A21-02 intersected a sheared and mineralized mafic volcanic hosting significant quartz veining over 14.00 m. Assays from this zone returned 1.37 g/t Au over 14.00 m, including a higher-grade portion which returned 5.37 g/t Au over 2.00 m at the lower contact of the zone. Hole A21-02 is located 1km west of Cass and remains open in all directions.

The Cass trend extension on Albatross also returned significant gold values in holes A21-07 and A21-08 located more than 2km west of hole A21-02. Although not as wide as the discovery hole, these intersections validate the Cass trend model as an important mineralized corridor. Additional drilling is required to prove out this area and its full potential, but early indications demonstrate a highly mineralized area with a lot of room for additional growth both along strike and potentially to depth.

Table 1 – Cass Zone (Western Extension) & Albatross Target – Summary Table

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.

Qualified Person Richard Roy P.Geo., V.P. Exploration 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. 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 200km north of Yellowknife, Northwest Territories, Canada. Within this largely under explored Archean gold camp, the Company has identified a number of high-priority targets all centred around a growing deposit. These targets lie within large regional deformation zones that contain gold mineralization which warrant additional exploration and follow-up. The main goals and objectives over the next 6-12 months will be to carry out exploration to foster resource expansion opportunities as well as new, near-surface discoveries that support the global mineral resource base.

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

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 initiatives including the assumption on determining resources, and in particular the ability to grow the size of the in-pit resources. 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, 2020, 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.