Nighthawk Gold Corp.

TSX VENTURE : NHK


Nighthawk Gold Corp.

April 24, 2014 07:00 ET

Nighthawk Reports 52.00 Metres of 5.10 g/t Gold and 24.00 Metres of 9.32 g/t Gold from Additional Historic Drilling at Cass

TORONTO, ONTARIO--(Marketwired - April 24, 2014) - Nighthawk Gold Corp. ("Nighthawk") (TSX VENTURE:NHK)reports additional assay results from 15 historic holes drilled in 1995 on its Cass gold deposit located on Nighthawk's Indin Lake Gold Property in the Northwest Territories ("NWT"). Two previous news releases (March 26, 2014 and April 10, 2014) provided highlights from 1986 and 1987 Cass drilling.

HIGHLIGHTS:

  • Hole C95-06 intersected 52.00 metres of 5.10 grams per tonne ("g/t") gold, including 17.00 metres of 11.37 g/t gold;

  • Hole C95-13 intersected 24.00 metres of 9.32 g/t gold including 11.00 metres of 17.30 g/t gold;

  • Hole C95-05 intersected 48.00 metres of 4.15 g/t, including 22.00 metres of 5.68 g/t gold and including 10.00 metres of 7.72 g/t gold; and

  • Hole C95-09 intersected 23.00 metres of 7.43 g/t gold including 15.00 metres of 9.48 g/t gold.

Historic Drilling and Results

Royal Oak Mines Inc. ("Royal Oak") drilled the 1995 holes (Figure 1) to confirm the location and grade of the resource defined by the 1986 and 1987 drilling and to better delineate the core of the deposit. The company planned to develop an open pit and process the ore at the Colomac Mill located 20 kilometres by road to the northeast. However, Royal Oak closed its Colomac operation before production was achieved from the Cass deposit. Results from the 1995 drill program further established the deposit's continuity and exploration opportunities to depth and along strike.

Select intersections from 1995 drilling (15 inclined holes) are presented for the Cass deposit (Table 1) to demonstrate the deposit's continuity of mineralization over extensive core lengths (Figures 2 and 3). These results are historic in nature and Nighthawk has not independently verified the results.

Table 1. Highlighted Historic 1995 Drill Results from Cass
Hole ID From To Core Length* Grade
(m) (m) (m) g/t Au
C95-01 65.00 80.00 15.00 4.26
including 72.00 77.00 5.00 7.56
C95-03 181.00 203.00 22.00 2.76
including 181.00 195.00 14.00 3.49
C95-04 1.00 9.00 8.00 2.58
C95-05 122.00 170.00 48.00 4.15
including 122.00 144.00 22.00 5.68
including 132.00 142.00 10.00 7.72
including 157.00 166.00 9.00 5.71
C95-06 153.00 205.00 52.00 5.10
including 160.00 177.00 17.00 11.37
including 199.00 204.00 5.00 8.41
C95-08 49.00 56.00 7.00 3.83
C95-09 82.00 105.00 23.00 7.43
including 90.00 105.00 15.00 9.48
C95-10 85.00 102.00 17.00 3.42
C95-11 71.00 86.00 15.00 3.24
including 91.00 97.00 6.00 6.07
C95-12 150.00 159.00 9.00 3.57
C95-13 55.00 79.00 24.00 9.32
including 63.00 74.00 11.00 17.30
97.00 107.00 10.00 6.74
C95-15 82.13 94.00 11.87 3.49
107.00 131.00 24.00 3.95
including 115.00 127.00 12.00 6.35
C95-17 121.00 138.00 17.00 5.09
C95-18 163.00 169.00 6.00 3.49
C95-19 212.00 254.00 42.00 2.63
including 212.00 222.00 10.00 3.82
including 248.00 254.00 6.00 6.84

* Lengths are reported as core lengths. True widths are unknown at this time.

Cass Gold Deposit

The Cass deposit represents a higher grade open pit mining opportunity complimentary to Nighthawk's Colomac Gold Property, which contains an Inferred Mineral Resource estimate of 39.815 million tonnes with an average grade of 1.64 g/t gold for 2.101 million ounces gold using a cut-off grade of 0.6 g/t gold (June 17, 2013 news release). The Cass and Kim gold deposits, which are connected by road to Colomac, provide considerable exploration upside and unrealized potential to significantly grow Nighthawk's resource base.

The Cass style of mineralization points to the largely untested potential for discovery of significant gold mineralization in other gabbroic bodies such as those hosting the underexplored, nearby Raspberry and Albatross gold occurrences. In addition, similar showings have been located throughout the Indin Lake Gold Belt and represent priority exploration targets to be assessed in the upcoming 2014 field program.

To view the figures associated with this release, please visit the following link: http://media3.marketwire.com/docs/941403figures.pdf.

Nighthawk Gold Corp.

Nighthawk is a Canadian-based exploration company focused on acquiring and developing gold mineral properties in the Northwest Territories. Its primary land position covers 229,791 acres or 930 square kilometres in the Indin Lake Gold Camp and includes an Inferred Mineral Resource estimate of 39.815 million tonnes with an average grade of 1.64 g/t gold for 2.101 million ounces gold using a cut-off grade of 0.6 g/t gold.

The technical aspects of this press release have been reviewed by Michael Byron, Ph.D., P.Geo., Chief Geologist and Director for Nighthawk, who is the "Qualified Person" as defined by NI 43-101 for this project.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, the timing of future drilling, the expansion of the mineralization, and the remediation of historic reclamation sites. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Nighthawk, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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