Nighthawk Drilling continues to intersect broad zones of mineralization with higher-grade centres; Returning 25.25 metres of 3.42 gpt Au (uncut), including 12.75 metres of 5.05 gpt Au, and 7.25 metres of 7.10 gpt Au at Colomac

TSX: NHK

TORONTO, Nov. 19, 2018 - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK; OTCQX: MIMZF) is pleased to report drill results from nineteen holes (4,752 metres) at its 100% owned Colomac Gold Project ("Colomac"), in the Northwest Territories. A total of 15,952 metres of drilling was completed at Colomac including drilling results from Grizzly Bear, and Zones 3.0 and 1.5 which were previously released. Additional drilling from the Company's regional targets within its Indin Lake Gold Property is still pending and will be released as assays become available.

Drilling targeted near-surface areas within the Colomac sill considered prospective for hosting high-grade mineralization extending below the current resource at Zones 2.0, 2.5, and 3.0, all of which have had limited drilling to depth. Drilling also aimed to infill gaps in drill coverage between shallow historical holes and deeper holes drilled by the Company in 2012.

All holes intersected broad relatively uniform mineralization (Table 1), highlighted by four shallow holes collared at the north end of Zone 2.5 (C18-25 and C18-27 series holes) that traced near-surface higher-grade mineralization to depth (Figure 1), indicating the presence of a new steeply plunging mineralized shoot similar to high-grade Zone 1.5 (see press release dated September 18, 2018). These drill results have further strengthened the opportunities for resource expansion between high-grade Zone 3.5 and Zone 2.0, a relatively unexplored 1.5-kilometre-long southern section of the sill, and confirmed the exploration opportunities to depth.

HIGHLIGHTS OF DRILLING:

Zone 3.0|

• C18-19B:  20.10 metres of 2.98 grams per tonne gold ("gpt" "Au"), including 13.25 metres of 4.30 gpt Au, and 5.00 metres of 9.54 gpt Au

Zone 2.5|

• C18-25B:  51.00 metres of 1.68 gpt Au, including 8.25 metres of 3.17 gpt Au, and 1.75 metres of 9.81 gpt Au
• C18-27:  26.00 metres of 2.04 gpt Au, including 11.40 metres of 3.00 gpt Au, and 3.25 metres of 6.61 gpt Au
• C18-27B:  53.00 metres of 1.48 gpt Au, including 20.75 metres of 2.59 gpt Au, and 1.50 metres of 12.03 gpt Au

Zone 2.0|

• C18-26:  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
• C18-26B:  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
• C18-22:  15.60 metres of 2.48 gpt Au, including 9.00 metres of 4.00 gpt Au, and 3.75 metres of 8.34 gpt Au
• New higher-grade shallow intercepts indicate the potential for additional steeply plunging gold zones developing to depth
• Discovery of laterally extensive shallow high-grade mineralization open to depth
• Drilling has confirmed the continuity of mineralization within large near-surface gaps in drill coverage and has extended zones to depth below the current resource
• These new discoveries support the prospects for finding additional areas hosting higher-grade mineralized shoots within the Colomac Main and Goldcrest sills

Note: All assays are uncut (see Table 1)

Dr. Michael Byron, President and CEO commented, "With today's results, we have now reported all holes drilled at Colomac in our 2018 program. We are incredibly encouraged by the consistent breadth of mineralization continuously intersected throughout all areas of the Colomac sill. We are particularly excited about results from the C18-19, C18-25, C18-26, and C18-27 series holes, which have discovered new areas of high-grade near-surface mineralization. Additional drilling is required to better establish these as higher-grade mineralized shoots similar to Zone 1.5, but the early indications are extremely positive. Current drilling has increased our confidence of discovering other higher-grade zones in addition to those identified to-date, all of which will have a positive impact on the global resource grade going forward. An in-depth analysis of our 2018 results is in progress to help develop the targeting strategy for the 2019 exploration program."

Summary of Exploration Results

Nighthawk's previous drilling at Colomac focused mainly on the northern half of the sill, in particular Zone 2.0 and high-grade gold Zone 1.5. In 2018 the Company expanded its activities to test several other highly prospective targets including high-grade Zone 3.5 (see press release dated September 11, 2018), resulting in the delineation of mineralization to depth below the current resource. However, the 2.5-kilometre section of sill between Zones 2.0 and 3.5 had limited drilling below 100 metres. These recent holes probed some of the previously untested areas lying between shallow historical holes and some deeper holes that the Company drilled in its maiden 2012 program resulting in the discovery of several higher-grade areas believed related to steeply plunging gold mineralized envelopes to depth.

Table 1. Colomac Drill Results (uncut)

*Lengths are reported as core lengths. True widths vary depending on drillhole dip.

Zone 3.5

Hole C18-17 was drilled at the north end of Zone 3.5, 60 metres north of C18-10 (see press release dated September 11, 2018), and 100 metres beneath the #3 surface pit, to explore a gap in drill coverage between several shallow historical holes and hole C12-13, a deeper intersection that the Company drilled in 2012 (see press release dated September 19, 2012).  Upwards of 50-metres (true width) of well mineralized quartz diorite was intersected, however a higher-grade interval was not noted (Table 1).

Zone 3.0

Six shallow holes (C18-19, C18-21, and C18-23 series holes) were drilled from three setups along a 700-metre section of Zone 2.5 to trace near-surface mineralization intersected by historical drilling to depth below the #3 pit (Figure 1). All holes returned broad intercepts extending mineralization to new depths, but still less than 150 metres from surface, where they remain open. Results are consistent with known characteristics of other high-grade zones within the sill where better grades typically occur to depth within plunging mineralized shoots.

Holes C18-19 and C18-19B were collared 100 metres north of C18-17. The steeper hole, C18-19B, intersected 20.10 metres of 2.98 gpt Au, including 13.25 metres of 4.30 gpt Au, and 5.00 metres of 9.54 gpt Au, a positive indication that higher grade mineralization exists to depth on this section (Figure 2).

Holes C18-21 and C18-21B were drilled 460 metres north of the C18-19 series holes to explore an area that had never been drilled below 100 metres. Both holes encountered extensive mineralization to new depths, highlighted by C18-21 that intersected 39.35 metres of 1.46 g/t gold including 8.00 metres of 2.70 g/t gold, and 3.50 metres of 5.31 gpt Au.

Holes C18-23 and C18-23B were collared 260 metres north of hole C18-21 at the north end of Zone 3.0. Previous drilling in this area had not tested the sill below 50 metres depth. Broad mineralization was encountered highlighted by hole C18-23 that returned 28.25 metres of 1.07 gpt Au, including 8.00 metres of 2.03 gpt Au. Mineralization was traced to 100 metres depth where it remains open.

Zone 2.5

Six holes were drilled from three setups at Zone 2.5 to follow up on historical drilling that documented near-surface mineralization that was open to depth. Holes C18-24 and C18-24B were collared 60 metres north of hole C18-23 to explore below the current resource and successfully extended mineralization to 140 metres below surface where it remains open. The steeper hole, C18-24B, encountered a broad region of lower-grade material (17.50 metres of 1.51 g/t Au), that lacked an internal higher-grade core at this shallow depth.

The C18-25 series holes were collared 200 metres north of C18-24 to probe the untested depth extension of shallow mineralization encountered by historical drilling. At 140 metres depth hole C18-25B intersected 51.00 metres of 1.68 gpt Au, including 8.25 metres of 3.17 gpt Au, a positive indication of proximity to higher-grade mineralization (Figure 3). Holes C18-27 and C18-27B were a 60 metre step out to the north of the C18-25 series holes to explore the potential northern down plunge extension of this higher-grade opportunity. Hole C18-27 intersected 26.00 metres of 2.04 gpt Au, including 11.40 metres of 3.00 gpt Au, and 3.25 metres of 6.61 gpt Au, while the steeper hole, C18-27B, intersected 53.00 metres of 1.48 gpt Au, including 20.75 metres of 2.59 gpt Au, and 1.50 metres of 12.03 gpt Au (Figure 4). Collectively these holes define a distinctive northerly plunge to the mineralization to at least 200 metres below surface where it remains open, mimicking the geometry of better constrained examples such as high-grade Zone 1.5.  Additional drilling is being planned to further evaluate this exciting new target area.

Zone 2.0

Six holes were drilled from 3 tightly spaced setups at the southern end of Zone 2.0, 300 metres north of holes C18-27 and C18-27B. This area of the sill remains largely unexplored below the #2 open pit.

Holes C18-26 and C18-26B intersected strong mineralization 35 metres and 95 metres below the pit, extending the target to depth where it remains open. Hole C18-26, the shallower of the two holes, cut a broad zone of uniform mineralization that returned 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. The steeper hole C18-26B intersected 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 (Figure 5). The holes outline a higher-grade internal core that appears to plunge steeply to the north. Additional drilling is needed to better define zone geometry, but early indications are that it shares similarities to Colomac's other higher-grade zones.

Two holes were drilled from a common setup 50 metres north of hole C18-26 to continue exploring the #2 pit to depth extending mineralization 100 metres below the pit where it remains open. The upper hole (C18-22) intersected 15.60 metres of 2.48 gpt Au, including 9.00 metres of 4.00 gpt Au, and 3.75 metres of 8.34 gpt Au (Figure 6). Although the lower hole cut an extensive region of mineralization returning 19.50 metres of 0.87 gpt Au, high-grade numbers were not recorded. The same is noted for holes C18-20 and C18-20B which targeted the depth extension of mineralization 50 metres to the north below the #2 pit to 70 metres depth. Both intersected broad mineralization but lacked internal higher-grade material.

Current drilling has confirmed continuity of mineralization throughout the noted gaps in drill coverage, extended zones to depth below the current resource, and identified new areas of higher-grade mineralization that suggest the presence of new high-grade gold shoots.

To-date, higher-grade plunging gold systems have been identified at five areas along the sill (Zones 1.5, 2.0, 2.5, 3.0, and 3.5), all of which remain open to depth and laterally. These discoveries demonstrate the potential for finding other similar zones within the Colomac Main and Goldcrest sills. Distinct higher-grade, steeply plunging, gold shoots continue to be an exploration priority for resource expansion.

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 June 17, 2013, 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 exploration plans including its drilling program and the timing and results thereof; the ability to expand the current resource with additional drilling; and the ability to discover and define new higher-grade gold zones and 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, 2017, 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.

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SOURCE Nighthawk Gold Corp.