Nighthawk Retains JDS Energy & Mining to conduct engineering studies at Colomac and is proceeding with share consolidation

8 January 2020

Nighthawk Gold Corp. is pleased to announce it has retained leading engineering firm, JDS Energy & Mining Inc., to complete an initial internal, high-level scoping study (not prepared in compliance with NI 43-101, the "Study"), that will examine the economic potential of the Colomac Gold Project. As previously announced, a mineral resource estimate is being completed which the Company anticipates will be ready within the first half of the year and which is expected to include a mineral resource update for Colomac and a maiden mineral resource estimate for the Damoti Lake Gold deposit. The updated resource estimate for Colomac will serve as the basis for the Study which will examine both open pit and underground mining potential. As well, the Company is moving forward with its proposed consolidation of its share capital on the basis of five (5) existing common shares for one (1) new common share.