Nighthawk Gold Reports 217.00 g/t Au over 0.50 m (with 7.30 g/t Au over 17.65 m) at the Kim Deposit

10 November 2022

TORONTO, Ontario, November 10, 2022 - Nighthawk Gold Corp. (“Nighthawk” or the “Company”) (TSX: NHK; OTCQX: MIMZF) is pleased to report assay results from drilling at the Kim Deposit, part of the Kim and Cass Deposits, which are within 15 kilometres (“km”) of the Colomac Centre Area.

Nighthawk President & CEO Keyvan Salehi commented, "We believe the Kim and Cass Deposits have the potential to significantly expand the high-grade mineralization of our Project. The high-grade intercepts from the Kim Deposit drilling outside of the current Mineral Resource Estimate pit-shells suggest the expansion of the known open-pit mineralization. In addition, with our analysis of the structural controls of the deposit, we were able to locate the down-dip, off-set extension of the Kim Deposit just below the 2022 MRE1 pit-shell."

“Up next, we intend to publish results from our Cass Deposit, which should be available in the next couple of weeks.”

Kim and Cass Deposits

The Kim and Cass Deposits are high-grade, potential open pit deposits that are located within 15 km southwest of the Colomac Centre. The Company purchased 100% of the Kim and Cass Property (which hosts the Kim and Cass Deposits) via an option agreement in 2021 (which will be completed in early 2023 with a final payment) and represents an important part of the potential “Hub-and-Spoke” future mine plan for the Colomac Gold Project (the "Project"). Both the Kim and Cass deposits are accessible by an existing trail that connects to the Project camp. Exploration at the Kim and Cass Deposits focused on understanding the structural controls of the mineralization and expanding the near-surface mineral resources of these deposits.  Please refer to Figures 2 and 3 for the District-Scale Regional Map and Local Map of Kim Deposit drilling, respectively.

Kim Deposit

The geology of the Kim Deposit area is underlain by subvertical pillowed-to-massive mafic flows and turbiditic meta sediments which are intruded by gabbroic sills. The majority of the gold mineralization at the Kim Deposit is hosted in massive mafic volcanic flows along the metasediment contact and associated with smoky quartz-carbonate, sulphide-rich veins and display a steep-to-subvertical dip. Displacement of rock units and mineralization occurs along northwest and northeast striking faults.

2022 drilling at the Kim Deposit has intersected high-grade, near-surface mineralization outside and adjacent to the 2022 MRE1 pit-shells as demonstrated with recent intercepts like drill holes KM22-03 and KM22-04. In addition, due to the analysis on the structural controls, Nighthawk was able to locate the down-dip offset continuation of the Kim Deposit mineralization just below the 2022 MRE1 pit-shell, as evidenced by drill hole KM22-03. The Kim Deposit remains open at depth and along strike.

Please refer to Tables 1 and 2 for the Highlight Drill Assay Results and Drill Assay Results Summary of the Kim Deposit, respectively. Please refer to Figures 1, 4 and 5 for the Isometric, Section #1 and Section #2 views of the Kim Deposit Highlight Drill Assay Results, respectively.

See full release for more details.