"An investment in knowledge pays the best interest."

 NIGHTHAWK INTERSECTS 72.65 METRES OF 5.58 G/T GOLD (UNCUT), INCLUDING 17.80 METRES OF 17.72 G/T GOLD (UNCUT) AT COLOMAC - EXPANDS HIGH-GRADE ZONE 1.5

 

Nighthawk Gold Corp. (NHK.V) has provided an update. Recent drilling has defined the near-surface boundaries and dimensions of zone 1.5, and accordingly, supports the existence of constrained high-grade domains within the Colomac mineralized system. Nighthawk previously reported results from step-out drilling at this newly discovered zone (see September 13, 2016 news release) where C16-03 intersected 52.07 metres (40 metres true width) of 7.72 g/t gold, including 25.47 metres of 14.25 g/t gold, and including 12.35 metres of 9.58 g/t gold. Today's results show that the zone continues uninterrupted down plunge and supports its continuity of mineralization to depth, as C16-03B cut 72.65 metres (50 metres true width) of 5.58 g/t gold, including 17.80 metres of 17.72 g/t gold, 100 metres below the C16-03 intersection (Figures 1, 2, 3 / Table 1).

"We've always considered the existence of distinct higher-grade domains as a very real opportunity at Colomac, although previous to this drilling they had yet to be constrained," said Dr. Michael Byron, President and CEO. "In our June 20, 2012 news release the similarities between Colomac and Kalgoorlie, one of the world's largest Archean gold camps, was first discussed. The Western Australian analogue and Colomac are hosted by a fractionated mafic intrusion where gold is concentrated within its more silica-rich upper portions. Kalgoorlie hosts higher grade gold zones, but at Colomac the existence of similar zones had never been documented. Realizing that opportunity, we targeted Zone 1.5 based on the Kalgoorlie model, and that approach resulted in the discovery of the high-grade gold zone in 2014, in effect endorsing the analogue and our exploration strategies based on it. Discoveries of this size and continuity have radically changed our understanding of Colomac, as higher grade zones represent an exciting new resource expansion opportunity," commented Dr. Michael Byron.

From initial drill start-up (see July 5, 2016 news release) to program conclusion in late September, 34 drillholes (8,390 metres) were laid out to help delineate Zone 1.5, test for other higher-grade prospects within the Colomac and Goldcrest sills, and to target near-surface resource expansion opportunities. Results from 8 drillholes (1,955 metres) are presented in Tables 1 and 2 below. Outside of Colomac, Nighthawk has advanced several other highly prospective targets throughout its vast Indin Lake land package. Ongoing regional prospecting and mapping programs have been effective in that process and in identifying exciting new prospects. Results from that work will be summarized in upcoming news releases.

Highlights: (uncut gold assays reported):

Colomac Zone 1.5

-- Hole C16-03B intersected 72.65 metres (50 metre true width) of 5.58 g/t gold, including 17.80 metres of 17.72 g/t gold, and including 11.05 metres of 27.83 g/t gold; -- Hole C16-04B intersected 9.00 metres (6 metre true width) of 2.24 g/t gold; -- Drilling has constrained the near surface dimensions of high-grade Zone 1.5 - upwards of 125 metres long, 30 to 40 metres in true width, and extending from surface to 260 metres vertical while open to depth; -- The discovery of Zone 1.5 clearly demonstrates the potential for discovery of other higher grade domains throughout the Colomac and Goldcrest sills, and that given their size and continuity, they are expected to have a positive impact on resource expansion, consequently they remain a priority exploration target for the Company.