Nighthawk Gold Announces Management Transition

Nighthawk Gold Corp. (“Nighthawk” or the “Company”) (TSX: NHK; OTCQX: MIMZF) is pleased to announce the appointment of Salvatore “Sal” Curcio, CPA, CA to the role of Chief Financial Officer (“CFO”) of the Company effective January 1, 2023. Mr. Curcio is currently the Vice President of Finance for Nighthawk. Current Nighthawk CFO Michael G. Leskovec, CPA, CA plans to step down to focus on his role as Co-Founder and CFO of Juno Corp., a privately held exploration company with properties in the Ring of Fire region in Northern, Ontario, Canada.

Nighthawk President & CEO Keyvan Salehi commented, “We are excited with Sal’s appointment to CFO. Sal brings a wealth of mine development, project financing, and operating experience from Mountain Province Diamonds. Sal’s experience is critical going forward as we advance the Colomac Gold Project towards the next stages of development. Furthermore, he has been integral in driving down site costs this year and keeping the Company’s balance sheet strong; Nighthawk plans to end the year with more than C$17 million in working capital.”

“I’d like to thank Michael for his significant contributions as the CFO of Nighthawk since its inception. Michael was instrumental to Nighthawk’s growth and had cultivated strong relationships with the stakeholders of the Company.”

Mr. Curcio is a Chartered Professional Accountant with over ten years of financial, audit and assurance expertise with publicly listed companies. Previously, Mr. Curcio was the Manager of Accounting and Finance at Mountain Province Diamonds Inc. (2015-2021), which jointly own the open-pit Gahcho Kué Diamond Mine in the Northwest Territories, Canada, with DeBeers Canada Inc. At Mountain Province, Mr. Curcio oversaw the firm’s financial reporting, planning and analysis, particularly during the transition from development-stage project to a commercially producing mine. Mr. Curcio concurrently served as the Manager of Financial Reporting at Kennady Diamonds Inc. (2015-2018) until the acquisition by Mountain Province Diamonds in 2018. Mr. Curcio earned his Chartered Professional Accountant, Chartered Accountant (CPA, CA) designation while working in the audit and assurance practice for Schwartz Levitsky Feldman LLP, and has his Honours Bachelor of Accounting and Financial Management (BAFM) Degree and Masters of Accounting (MAcc) Degree from the University of Waterloo. Mr. Leskovec will continue to advise the Company throughout 2023 to assist with the transition.

About Nighthawk Gold Corp. 
Nighthawk is a Canadian-based gold exploration company with 100% ownership of more than 930 km² of district-scale land position within the Indin Lake Greenstone Gold Belt, located approximately 200 km north of Yellowknife, Northwest Territories, Canada. The Company is advancing several highly prospective exploration targets. The Colomac Gold Project currently has a Mineral Resource Estimate¹ of 58.2 million tonnes grading 1.44 g/t Au for 2.69 million ounces in the Indicated category and 19.7 million tonnes grading 2.10 g/t Au for 1.33 million ounces in the Inferred category. Nighthawk’s experienced management team, with a track record of successfully advancing projects and operating mines, is working towards demonstrating the economic viability of its assets and rapidly advancing its projects towards a development decision.

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 mineral resource estimates, potential expansion of pit-constrained (or open-pit) mineralization, potential expansion of mineral resource estimates, the potential for higher-grade assay results, continued exploration and drilling initiatives and having the necessary funding required to complete these initiatives, the prospectivity of exploration targets, the potential economic viability of the assets, and the advancement of projects towards a development decision. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “add” or “additional”, “advancing”, “anticipates” or “does not anticipate”, “appears”, “believes”, “can be”, “continue”, “deliver”, “demonstrating”, “estimates”, “encouraging”, “expand” or “expanding” or “expansion”, “expect” or “expectations”, “forecasts”, “forward”, “goal”, “increase”, “intends”, “justification”, “plans”, “potential” or “potentially”, “prospective”, “prioritize”, “reflects”, “scheduled”, “suggesting”, “support”, “updating”, “upside”, “will be” or “will consider”, “work towards”, 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 required regulatory approvals, 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, the war in Ukraine and its effect on supply chains, environmental risks, COVID-19 and other pandemic 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, 2021, 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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