Nighthawk Gold Corp. (TSX: NHK) (OTCQX: MIMZF) is pleased to report the final Phase II drilling assay results for the Colomac Main Deposit ("Colomac Main")(13 drill holes totalling 2,680 metres ("m")) , the 24 Deposit ("24")(4 drill holes totalling 717 m), and the Grizzly Bear Deposit ("Grizzly Bear") (14 drill holes totalling 1,761 m), all located within the Colomac Centre (see Figures 1 and 2). Please refer to Table 1 for the highlight assay results and Table 2 for a summary of the assay results.

Keyvan Salehi, Nighthawk President & CEO commented, "The results from the 24 Deposit continue to exceed our expectations and support our goal of potentially increasing the current open-pit Indicated and Inferred Mineral Resource estimates4. At Colomac Main, the latest results demonstrate decent mineralized widths in an area that had not been drilled extensively in the past so additional follow up drilling is justified in our next exploration campaign. At Grizzly Bear, the new drilling demonstrates that the deposit remains open to the north and will be a priority target in 2022. We remain on-track to deliver an updated mineral resource estimate in the first quarter of this year."

24 Deposit

Phase II drilling at the 24 tested the northern and southern extension of the mineralization identified in Phase I drilling1 and has returned significant mineralization expected to add to the current Mineral Resource Estimate4. Hole TFS21-22 was the highlight of this phase of drilling, which returned a 25.50 m interval averaging 2.07 g/t Au (Figure 3). This hole was drilled south of the previous drilling1 and appears to extend the known mineralization further south at higher-than-average grades. In addition, hole TFS21-19 returned 4.56 g/t Au over 9.60 m along the northern extension of the zone, also demonstrating above-average grades.

Grizzly Bear Deposit

Phase II drilling at Grizzly Bear was designed to extend the new mineralization identified in Phase I drilling2 north of the existing in-pit resources. Holes GB21-21 and GB21-22 both demonstrate the intensity and width of the mineralization averaging 1.01 g/t Au over 28.75 m and 1.66 g/t Au over 7.00 m, respectively. Along with hole GB21-19 (1.64 g/t Au over 12.00 m), these holes clearly show that the Grizzly Bear Deposit remains open to the north and offers potential for additional near-surface mineralization (Figure 4).

Colomac Main Deposit

Drilling at Colomac Main tested a gap between two series of holes drilled during Phase I drilling3 where new mineralization was identified and below historical drill holes. Mineralized widths remain strong in many holes including hole C21-28, which returned 1.08 g/t Au over 14 m (Figure 5).

This now completes the database associated with existing deposits. We remain on schedule for an updated mineral resource estimate, expected to be delivered in Q1/22.

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Disclaimer: NightHawk is a paid marketing client*

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