Nighthawk Expands Drilling at Colomac Zones 2.0 and 3.0

Highlighted Intercept: 56.25 metres of 2.76 gpt Au (uncut) including 13.00 metres of 3.51 gpt Au, and including 4.25 metres of 14.89 gpt Au

TSX: NHK

TORONTO, July 31, 2019

/PRNewswire/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) is pleased to provide additional drill results from the Colomac Gold Project ("Colomac") centrally located within its Indin Lake Gold Property, Northwest Territories, Canada.  Drilling was expanded to target specific high-priority areas within Zones 2.0 and 3.0 of the Colomac Main sill where thirteen holes were completed for 4,503 metres, with all holes intersecting mineralization (Table 1, Figure 1).

Nighthawk's exploration strategy has evolved since the initial drill program at Zone 2.0 (see press release dated June 20, 2012), where the focus is now on the discovery and delineation of higher-grade shoots within the sill. All 38 drillholes reported to-date (12,824 metres) of the planned 35,000 metre to 40,000 metre drill program for 2019, have intersected mineralization. The success in locating and tracing new areas of higher-grade mineralization along the Colomac Main sill continues to validate the Company's belief in the deposit's capacity to host discrete corridors of elevated grade (typically significant widths of over 2.0 gpt with internal higher-grade cores), some of which are broad domains of contiguous mineralization along strike and to depth that remain largely unexplored. This exploration strategy has been extremely successful leading to several new discoveries and is considered crucial to resource growth going forward.

Dr. Michael Byron, President and Chief Executive Officer said, "This latest drilling followed-up on recent discoveries of higher-grade mineralization in Zones 2.0 and 3.0. Our goal was to extend these known occurrences down-plunge and to test other highly prospective opportunities. Outcomes have been exceptional, resulting in a new discovery in Zone 2.0 and the successful expansion of three previous discoveries. We are extremely encouraged by our continued success in identifying new prospects and remain confident in our ability to track them along strike and to depth. This part of the sill has seen limited exploration to-date but clearly shows the potential to deliver ounces.

"Our three drills have been in operation since early March and we are on track to meet and/or exceed our 2019 planned meterage. As well, with our field exploration program now in full swing, we are expecting this to be our most productive exploration campaign to-date."

Colomac Drilling Highlights:

Zone 2.0

• Hole C19-24 tested the boundary region between high-grade Zone 1.5 and Zone 2.0 to depth and intersected 56.25 metres of 2.76 gpt Au (30.00 metres true width), including 13.00 metres of 3.51 gpt Au gold, and including 4.25 metres of 14.89, extending mineralization to over 450 metres at depth where it remains open.
  
  
• Holes C19-19B and 19C were drilled on the same section as previously reported C19-19 which intersected a new area of mineralization (see press release dated June 26, 2019). Hole C19-19B intersected 83.70 metres of 1.44 gpt Au (55.00 metres true width), including 11.45 metres of 3.07 gpt Au, and including 16.90 metres of 2.00 gpt Au; and hole C19-19C, returned 46.00 metres of 0.72 gpt Au (25.00 metres true width), including 14.65 metres of 1.05 gpt Au, and including 3.15 metres of 2.55 gpt Au, extending mineralization to depth in excess of 350 metres where it remains open.
  
  
• Hole C19-18 documents a new discovery southwest of C19-19 intersecting 91.50 metres of 1.33 gpt Au (50.00 metres true width), including 24.75 metres of 2.95 gpt Au, 14.25 metres of 4.55 gpt Au, and 9.25 metres of 6.44 gpt Au to a depth of 320 metres where it remains open in all directions.

Zone 3.0

• Holes C19-25, 25B, and 25C have extended mineralization north of the previously reported C19-07 series intersections (see press release dated May 28, 2019), and are highlighted by the C19-25C intersection which returned 29.50 metres of 2.78 gpt Au (12.00 metres true width), including 16.20 metres of 4.06 gpt, and 3.80 metres of 6.86 gpt Au; extending mineralization to over 250 metres depth and open.
  
  
• The drill success at Zones 2.0 and 3.0 in locating and tracking new areas of higher-grade mineralization further supports the sill's capacity for hosting robust new opportunities for continued resource expansion. Similar targeting techniques continue to be actively employed throughout the Colomac area sills generating significant exploration success.

Note: All assays are uncut (see Table 1)

Table 1. Colomac Drill Results (uncut)

Drill Summary

Zone 2.0

Nine holes were recently drilled within the south-central portion of Zone 2.0 to test for new areas of strong mineralization, to explore the plunge projection of previous drilled higher-grade areas, and to infill gaps in near-surface drill coverage (see press release dated June 26, 2019). All holes intersected broad zones of mineralization exhibiting strong continuity. Hole C19-19, the most northern of the nine holes (Figure 1), tested a new area to depth below a historical vertical hole, and intersected extensive mineralization 200 metres below surface returning 60.75 metres of 2.61 gpt Au, including 13.40 metres of 4.45 gpt Au, and including 7.75 metres of 6.85 gpt Au (Figure 2). The higher-grade core to the intercept may indicate the presence of a plunging shoot similar to Zone 1.5.

Two additional holes were drilled on the same section to explore below C19-19 and have added an additional 140 metres of mineralization to depth (Figure 2). Hole C19-19B intersected 83.70 metres of 1.44 gpt Au, including 11.45 metres of 3.07 gpt Au, and including 16.90 metres of 2.00 gpt Au. The steeper of the three holes, C19-19C, returned 46.00 metres of 0.72 gpt Au, including 14.65 metres of 1.05 gpt Au, and including 3.15 metres of 2.55 gpt Au. The intensity of mineralization appears to weaken to depth on this section which may reflect the overlying steeply northward plunge of the higher-grade core. Mineralization remains open to the north.

Hole C19-18 was drilled 50 metres southwest of the C19-19 series holes below shallow historical drilling to explore an area that had never been tested to depth (Figure 1). The hole encountered a broad zone of higher-grade mineralization to a depth of 320 metres that assayed 91.50 metres of 1.33 gpt Au, including 24.75 metres of 2.95 gpt Au, 14.25 metres of 4.55 gpt Au, and 9.25 metres of 6.44 gpt Au (Figure 3). This represents a new discovery in this part of the sill that remains open in all directions. Additional drilling is being planned to follow-up on this discovery.

Holes C19-20 and 20B lie 105 metres north of C19-19 within the central portion of the zone (Figure 1).  Drilling in 2012 documented wide zones of mineralization at depth below the #2 Pit (see press release dated June 20, 2012). The C19-20 holes were drilled on the same section as previous holes C12-02 and 02B that recorded up to 23.45 metres of 1.58 gpt Au, including 3.20 metres of 4.92 gpt Au gold, and including 13.50 metres of 1.57 gpt Au. However, the C19-20 holes did not intersect similar mineralization.

Hole C19-15 was collared 300 metres southwest of C19-19 near the south end of the #2 Pit, an area that remains largely unexplored to depth (Figure 1). The hole targeted an area 300 metres below the pit along the projected northern plunge of shallow mineralization intersected by holes C18-26 and 26B highlighted by 25.25 metres of 3.42 gpt Au, including 12.75 metres of 5.05 gpt Au, and 7.25 metres of 7.10 gpt Au; and 39.50 metres of 1.54 gpt Au, including 10.50 metres of 3.07 gpt Au, and 2.50 metres of 6.76 gpt Au (see press release dated November 19, 2018). Although C19-15 intersected mineralization throughout a 50-metre downhole section, it failed to encounter significant higher-grade mineralization on this section.

Hole C19-24 was drilled within the northern part of Zone 2.0 (Figure 1) to extend mineralization previously reported in holes C17-09, 09B, 09C and C17-010 and 10B (see press release dated August 24, 2017), and holes C17-06, 06B, and 06C (see press release dated July 13, 2017), the first holes drilled into the resource gap between Zones 1.5 and 2.0. The 2017 holes were laid out to test for the possible convergence of the two zones into a much larger higher-grade domain. All holes generated strong intercepts indicating continuity exists between the zones and that the collective domain may extend upwards of 350 metres in strike and to a depth of 350 metres where it remains open. C19-24 was drilled on the same section as the C17-06 series holes to explore 40 metres below C17-06C, intersecting 56.25 metres of 2.76 gpt Au, including 13.00 metres of 3.51 gpt Au gold, and including 4.25 metres of 14.89, successfully extending mineralization on this section to over 450 metres in vertical depth, where it remains open (Figure 4).

Zone 3.0

Zone 3.0 remains largely underexplored; however five holes were recently drilled to follow-up on some earlier promising higher-grade intersections (see press release dated May 28, 2019). This resulted in the expansion of the zone northward and to new depths where it remains open below 250 metres. Recently completed holes C19-23, 23B, and 23C were collared 50 metres north of previous holes C19-07, 07B, and 07C within the northern part of the zone to track projected mineralization down-plunge as highlighted by hole C19-07 intersection of 35.45 metres of 2.14 gpt Au, including 10.95 metres of 3.90 gpt Au, and including 2.75 metres of 8.17 gpt Au (see press release dated May 28, 2019). All three of the C19-23 series holes occur north of a cross fault defined by a recently completed LIDAR survey and intersected mineralization; however, they did not encounter similar widths and intensity of mineralization as reported for the C19-07 holes located south of the fault.

Holes C19-25, 25B, and 25C were intended to trace the mineralization another 50 metres north of C19-23, on a section that had never been drilled (Figure 1). All holes reported mineralization highlighted by a broad intercept in the steeper hole C19-25C which returned 29.50 metres of 2.78 gpt Au, including 16.20 metres of 4.06 gpt, and 3.80 metres of 6.86 gpt Au, extending mineralization to depth on this section over 250 metres where it remains open (Figure 5).

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.

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 200 km north of Yellowknife, Northwest Territories, Canada. Nighthawk is focused on advancing the Colomac Gold Project with a current inferred resource of 2.6 million ounces of gold (50.3 million tonnes at an average grade of 1.62 grams per tonne gold), as well as advancing its other regional gold deposits and showings within this largely underexplored Archean gold camp.

The Company has an experienced and dedicated team and is well funded to complete its goals and objectives over the next 18-24 months.

Qualified Person
Dr. Michael J. Byron, Ph.D., P.Geo., President & Chief Executive Officer 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. Please refer to NI 43-101 technical report "Technical Report and mineral resource estimate update on the Colomac Property of the Indin Lake Project", dated July 26, 2018, as filed under the company's profile on www.sedar.com.

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 programs (including size and budget) and the ability to advance targets and the timing and results thereof; the ability to expand the current resource at Colomac with additional drilling and the ability to discover and define new higher-grade gold zones including any impact on the overall grade. 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, 2018, 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.

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