NIGHTHAWK REPORTS HIGH GRADE RESULTS AT CASS

TSX: NHK  

Hole CM21-44 returned 3.76 g/t Au over 33.15 m including 7.16 g/t Au over 9.50 m

TORONTO, Jan. 13, 2022  /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) (OTCQX: MIMZF) is pleased to report assay results for thirteen (13) drillholes (totalling 5,373 metres) at the Cass Zone ("Cass"), along with twelve (12) holes (totalling 3,558 metres) drilled at the Kim Zone ("Kim"). Drilling at Cass (Figure 1 and 2) tested the depth extension of the known historical mineralization, where very limited drilling had previously been done below 200 metres ("m"). The host altered gabbro of the mineralization was intersected in every hole with visible gold encountered in three holes (CM21-44, CM21-46, and CM21-48). Hole CM21-44 was the highlight of this series returning high-grade gold mineralization across an extensive width of 33.15 m, demonstrating the potential of Cass, which remains open at depth and further to the east. Keyvan Salehi, President & CEO commented "We are very pleased with the results released today from an area that continues to impress. The higher-grade nature of Cass mineralization at depth is an important milestone for this area, demonstrating potential for underground mining opportunities. While our goals for 2021 were focused on the delineation of near-surface, open pit ounces, this year and going forward, we will begin to allocate capital to test the depth extension of our deposits where the grade profile potentially supports the addition of underground resources to our existing global resource base." Highlights of Cass and Kim Drilling Results

• Drilling at depth at Cass encountered high grade gold values (Figure 2), as highlighted by:

  • Hole CM21-44 returned 3.76 grams per tonne gold ("g/t", "Au") over 33.15 m, including 7.16 g/t Au over 9.50 m (Figure 3);

  • Hole CM21-42 returned 2.21 g/t Au over 8.00 m; and

  • Hole CM21-46 returned 1.09 g/t Au over 21.75 m including a higher-grade portion of 2.77 g/t Au over 4.00 m;

  • Follow-up drilling this year will continue to test higher-grade mineralization at depth.

• Drilling at Kim encountered the following results, highlighted by the width of the intersect in hole KM21-05;

  • Hole KM21-05 returned 0.91 g/t Au over 23.00 m;

  • Hole KM21-04 returned 1.52 g/t Au over 7.50 m; and

  • Hole KM21-08 returned 1.12 g/t Au over 5.75 m

Cass Zone (at depth) A series of drill holes were completed below the known mineralization to explore its potential for extension at depth. Hole CM21-44 is considered very important for the future of Cass at depth as it is the most eastern and deepest hole drilled at Cass and the zone remains untested below and further to the east. Identifying and delineating deeper high-grade zones could significantly add quality ounces at Cass and contribute higher-than-average grade mineralization to support the global resources of the property. Kim Zone Drilling at Kim consisted of a series of holes completed at moderate depth below historical drilling. The mineralized host sheared contact between sediments and volcanics was encountered in every hole. Although low to moderate grades were obtained in these holes, the width of the mineralization in hole KM21-05 demonstrates that higher-grade ore shoots could occur at depth. Table 1 – Cass Zone (at depth) & Kim Zone – Summary Table

Note: True widths remain undetermined at this stage. All assays are uncut. Further statistical analysis will be required prior to establishing a suitable cut grade.

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. The Company is currently advancing a number of highly prospective targets within its consolidated land position, with an ultimate goal of delivering a preliminary economic assessment. With a growing multi-million-ounce resource base, and the aggressive nature of exploration activities, Nighthawk anticipates achieving growth along its path to advancing the project towards a development decision.

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 additional drilling and obtaining sufficient funds to achieve its exploration activities, as well as the assumptions on growing the global resource base moving forward. 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.