29 April 2020
Nighthawk Gold Corp. provides an update on its Indin Lake Gold Property, located 200 km north of Yellowknife, Northwest Territories, Canada. In 2019 Nighthawk initiated a land surveying program required to convert certain mineral claims to 21-year mineral leases. By the end of 2019 approximately 35% of the Company's land position now exists as mineral leases with the remaining 65% to be converted over the next year and a half (Figure 1 in the full release).
Dr. Michael Byron, President and CEO commented, "Secure ownership of our land position is fundamental to our thesis of Developing Canada's Next Gold Camp. Converting claims to 21-year mineral leases will result in the strongest form of ownership we can achieve, and will reduce our annual carrying costs by half. In doing so we are reducing any risk of forfeiting key ground, and since annual assessment work expenditures are not required on mineral leases, it allows us to focus our exploration activities solely on our best prospects.