Nighthawk intersects 84.30 metres of 2.91 gpt gold (uncut), including 24.55 metres of 5.05 gpt gold, and 4.25 metres of 8.11 gpt gold at Colomac Zone 1.5

TSX: NHK  

TORONTO, Sept. 18, 2018 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK; OTCQX: MIMZF) is pleased to report drill results for eighteen holes (5,508 metres) recently completed at high-grade Zone 1.5, part of its 100% owned Colomac Gold Project ("Colomac"). Sixteen of the eighteen holes intersected gold mineralization (Table 1) helping to define the zone's near surface dimensions and continuity down plunge to depth (Figure 1), highlighted by hole C18-05 which returned 84.30 metres of 2.91 grams per tonne gold ("gpt" "Au"), including 24.55 metres of 5.05 gpt Au, and 4.25 metres of 8.11 gpt Au.

HIGHLIGHTS OF DRILLING:

• Hole C18-05 intersected 84.30 metres (41.00 metre true width) of 2.91 gpt Au, including 24.55 metres of 5.05 gpt Au, and 4.25 metres of 8.11 gpt Au;
  
• Hole C18-08C intersected 31.20 metres (19.00 metre true width) of 1.24 gpt Au, including 10.70 metres of 2.50 gpt Au, and 5.00 metres of 4.87 gpt Au;
  
• Hole C18-14 intersected 45.25 metres (32.00 metre true width) of 1.36 gpt Au, including 10.25 metres of 3.30 gpt Au, and 2.25 metres of 7.37 gpt Au;
  
• Hole C18-13 intersected 25.25 metres (17.00 metre true width) of 1.46 gpt Au, including 13.50 metres of 2.32 gpt Au, and 3.75 metres of 3.66 gpt Au;
  
• Confirmed that Zone 1.5 mineralization can be traced to surface;
  
• Zone 1.5 dimensions extend upwards of 300 metres in strike, to a vertical depth of 660 metres, and a true width of 30 to 60 metres in the near surface and upwards of 155 metres at depth;
  
• High-grade mineralization remains open down plunge to depth;

Dr. Michael Byron, President and CEO commented, "The results released today have further constrained the dimensions of Zone 1.5 to depth and infilled gaps in the near surface drill coverage. All results released to date from the Colomac Project have had an extremely high hit rate for intersecting gold mineralization and attests to the vitality of the gold system and the heightened prospects for new discoveries. Additional results from Colomac will include drilling at Zones 2.5 and 3.0.

"Our 2018 Indin Lake Project exploration program is now complete and has been our most ambitious and expansive undertaking to-date that included 32,504 metres of drilling, of which 17,883 metres have now been reported. The remaining drill results from some of our more prospective regional prospects including Damoti Lake, Treasure Island and Swamp will be released once all the data has been received."

Table 1. Zone 1.5 Drill Results (uncut)

Zone 1.5

Since the discovery of Zone 1.5 in 2014 (see press release dated December 3, 2014), Nighthawk has focused on refining the zone's dimensions and developing an understanding of the controls on the unique style of higher-grade mineralization within the Colomac system. That knowledge is vital for the successful exploration and discovery of other higher-grade domains believed to exist within the Colomac area sills. The current round of drilling was directed at testing the up-plunge projection of the zone to the south, infilling the near surface portion of the zone that lacked information, and to better constrain the north plunging system to depth.

Three holes, C18-01, C18-01B, and C18-01C explored the southern projection of the higher-grade core to Zone 1.5 (Figure 1) where a gap existed in drill coverage next to the boundary fault that separates Zone 1.5 from Zone 2.0. The fault strikes to the northeast (070^o) with a subvertical dip (80^o) to the southeast. Holes were drilled at variable dips to test the zone from 130 meters depth (C18-01) to 330 metres depth (C18-01C). All holes intersected mineralization, some over significant core lengths, but average grades were less than what is typical of the higher-grade core to the zone. Hole C18-01 intersected 13.60 metres of 1.44 gpt Au, including 6.30 metres of 2.51 gpt Au; and hole C18-01C intersected 35.90 metres of 0.90 gpt Au, including 9.90 metres of 1.65 gpt Au. Drill results show that the intensity of the zone's high-grade mineralization appears to diminish towards the boundary fault, rendering these holes as being important for establishing the zones southern perimeter.

Holes C18-03 and C18-03B were collared 40 metres north of the C18-01 series holes (Figure 1) to explore a gap in drill coverage near the modeled keel of the plunging zone. Both holes intersected moderate mineralization with the better of the two being the steeper hole C18-03B (Table 1), indicating that they probably drilled through the weaker mineralized lower portion of the plunging keel, and in doing so, established its lower boundary on this southern section.

Hole C18-05 was drilled 170 metres north northeast of C18-03 (Figure 1) to fill a void in the central portion of the zone about 250 metres below surface. The hole intersected 84.30 metres of 2.91 gpt Au, including 24.55 metres of 5.05 gpt Au, and 4.25 metres of 8.11 gpt Au (Figure 2). An intersection true width of 41.00 metres was recorded which corresponds to the well-established width of the core of Zone 1.5. Two other holes (C18-08 and C18-08C) were collared 70 metres northwest of C18-05 to continue testing the down plunge extension of the zone to the north.  The steeper hole, C18-08C, intersected 31.20 metres of 1.24 gpt Au, including 10.70 metres of 2.50 gpt Au, and 5.00 metres of 4.87 gpt Au; while the shallower hole C18-08 intersected a broad but weaker mineralized area of 17.60 metres of 1.19 gpt Au, including 4.85 metres of 1.87 gpt Au (Figure 3). These two holes have helped bracket the plunging zone on this section as C18-08 appears to overshoot the mineralization while C18-08C intersected the upper portion of the high-grade core to the zone. Holes C18-11 and C18-11B were established 90 metres northwest of hole C18-08 to drill above the plunging shoot on a new section and to investigate whether the higher-grade mineralization broadens upward. Although both holes intersected mineralization, it is believed that they were drilled above and outside of the high-grade core to the plunging zone; however, C18-11B being the steeper hole, and thus closer to the plunging zone, intersected better mineralization returning 11.45 metres of 1.80 gpt Au, including 6.75 metres of 2.69 gpt Au, and 3.15 metres of 4.22 gpt Au.

Holes C18-13, C18-14, C18-15, C18-16, and C18-18 (Figure 1) are short holes drilled into the top of the zone covering 160 metres of strike that constituted a gap in drill coverage in the current resource (Figure 4). All holes reported mineralization (Table 1), highlighted by the hole C18-14 intersection of 45.25 metres assaying 1.36 gpt Au, including 10.25 metres of 3.30 gpt Au, and 2.25 metres of 7.37 gpt Au.  Results from these five holes support that the zone extends upwards towards the surface with a high probably that it outcrops below the mine waste rock that covers much of the area.

Results are pending for drilling of areas showing the potential for higher-grade mineralization within Zone 2.5 and Zone 3.0. Findings form this year's extensive regional prospecting and detailed mapping programs and expanded Colomac metallurgical testwork sampling will be released as soon as they become available. The sill remains uninterrupted to depth and well-mineralized (Figure 4). Given the consistent drill results to date from Zone 1.5, the potential for resource expansion is considered excellent.

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 Chemex Assay Laboratory in Vancouver, BC ("ALS Chemex").  ALS Chemex is an ISO 9001:2000 certified 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 Chemex.

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 and its drilling program and the timing and results thereof; the ability to add tonnes and ounces to the Colomac Gold Project, and the timing and results thereof. 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, 2016, 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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