Keyvan Salehi, P.Eng. (NighthawkPresident & CEO) commented, “We received more encouraging drill assayresults from the Colomac Centre. The 24/27 Deposit drilling yieldedhigher-grade, near-surface mineralization outside the current Mineral ResourceEstimate¹ pit shells. Drill Hole TFS22-02 intersected 6.75 g/t Auover 12.75 m and was the highlight of this batch of results (see Figure 1). Thepotential expansion of the open-pit mineralization in the Colomac Centreappears to be supported by the data received so far.”

Figure 1 – 24/27 Deposit Isometric View – Looking Southwest

2022 Exploration Program

Drilling in 2022 primarily targeted areas outside the 2022MRE¹ pit shells. Nighthawk’s goal is to continue expanding the potentialpit-constrained mineralization, particularly in the higher-grade areas. Thislatest batch of results represents 4,387 m of drilling, bringing the totalreported assay results to 10,003 m of drilling for 2022. Please refer to Figure2 for the Colomac Centre Location Map.

24/27 Deposit

Most of the 2022 exploration drilling at 24/27 Deposit weredesigned to target higher-grade, near surface mineralization outside of theknown mineralization. Gold mineralization in these areas is hosted bygrey-white smoky quartz veins, within a sheared intermediate volcaniclasticrock bounded on the east by sediments. Most of the 24/27 Deposit drill assayresults returned mineralized intersections outside the current Mineral ResourceEstimate¹ pit shells, which suggest the potential expansion of themineral resources in these areas. Please refer to Figure 3 for a Plan View Mapof the 24/27 Deposit drilling. Mineralized widths at the 24 Deposit wereconfirmed to be wider than previously thought, as evidenced by drill holeTFS22-02, which intersected mineralization of 6.75 g/t Au over 12.75 m (including16.45 g/t Au over 2.75 m) and 1.20 g/t Au over 26.75 (including 8.41 g/tAu over 1.1 m) closer to surface than previously expected. Please refer toFigures 1, 4 and 5 for the 24/27 Deposit Isometric View, 24 Deposit SectionView, and 27 Deposit Section View of the highlighted drill holes, respectively.TFS22-13 and TFS22-11 are step out drill holes located approximately 250 m tothe north, along strike, of the 24/27 Deposit. Both drill holes intersectednarrow mineralized quartz veining within the same intermediate volcanic on asthe 24 Deposit and warrant continued exploration along strike. Additional drillassays are pending for the south extension of the 24/27 Deposit.

Figure 2 – Colomac Centre Location Map

Figure 3 – Plan View of 24/27 Deposit Drilling

Figure 4 – 24 Deposit Section View – Looking North

Figure 5 – 27 Deposit Section View – Looking North

Disclaimer: Nighthawk Gold is a paid marketing client*

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