Nighthawk Gold Corp. reported 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. 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.

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.