Nighthawk Gold Update on Colomac Gold Project

Nighthawk Gold Corp has reported assay results for three drill holes (1,707 metres) completed at Zones 2.0 and 3.0 of the Colomac Main Sill, part of the
Nighthawk Gold Update on Colomac Gold Project
Nighthawk Gold ColomacNighthawk Gold

Nighthawk Gold Corp has reported assay results for three drill holes (1,707 metres) completed at Zones 2.0 and 3.0 of the Colomac Main Sill, part of the Colomac Gold Project centrally located within its Indin Lake Gold Property in Northwest Territories in Canada. President and CEO Dr Michael Byron said "Hole C20-06B undercut previously reported hole C20-06, posting another tremendous intersection of mineralization, and continues to showcase Zone 2.0 and Zone 1.5 as the best mineralized sections of the Colomac Main Sill encountered so far. This area of the sill continues to show strong continuity of mineralization and grade along strike and to depth, where the consistent widening of the quartz diorite host rock to depth, provides an excellent opportunity for continued resource expansion. "Fallout from the Covid-19 pandemic has impacted assay turnaround as significant delays have been experienced in sample shipping and processing. The Company is currently working to resolve some of these logistics hurdles and is expected to have additional results ready for release in the near-term."

COLOMAC DRILLING HIGHLIGHTS:

Zone 2.0 - Northern Boundary

Hole C20-06B returned 141.80 metres (75.00 metres true width) of 2.11 grams per tonne gold ("gpt" "Au") including 83.75 metres (45.00 metres true width) of 2.73 gpt Au with several internal higher-grade intercepts (Figure 2):

Upper intersection - 20.90 metres of 2.55 gpt Au, including 14.40 metres of 3.14 gpt Au

Mid-level intersection - 20.30 metres of 3.47 gpt Au, including 6.20 metres of 6.06 gpt Au

Lower intersection - 31.05 metres of 4.06 gpt Au, including 10.50 metres of 5.11 gpt Au, and 15.30 metres of 4.27 gpt Au, and including 6.20 metres of 5.63 gpt Au

Mineralization on this section spans from near surface to over 660 metres vertical depth where it remains open.

Zone 3.0

Hole C20-11 tested the northern boundary region of Zone 3.0 , an area of limited drilling, and intersected 34.75 metres (12.00 metres true width) of 2.00 gpt Au, including 15.00 metres of 2.56 gpt Au, and including 3.50 metres of 5.33 gpt Au; tracking mineralization to 275 metres vertical depth where the sill remains open.

Note: All assays are uncut (see Table 1)

Twenty-nine drillholes for a total of 16,421 metres were completed at Colomac in 2020 of which Nighthawk has now reported on thirteen holes for 7,711 metres. Additional drilling results are pending from fifteen holes for 5,508 metres completed at one of the Company's high-grade, high-priority reginal targets, the Treasure Island Gold Project, located approximately 11km north of Colomac.

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