Nighthawk Gold Files the NI 43-101 Technical Report for the Colomac Gold Project PEA

Nighthawk Gold Corp. (“Nighthawk” or the “Company”) (TSX: NHK; OTCQX: MIMZF) is pleased to announce the filing of a technical report for the preliminary economic assessment (“PEA”) for the Colomac Gold Project (the “Project”), with an effective date of April 26, 2023 (the “PEA Technical Report”). A copy of the PEA Technical Report is available on www.sedar.com or on the Company’s website www.nighthawkgold.com

The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Technical Report and Qualified Persons

The PEA Technical Report was prepared in accordance with NI 43-101 is filed on SEDAR (www.sedar.com). Readers are encouraged to read the PEA Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the PEA, and sections should not be read or relied upon out of context.

Scientific and technical information related to the PEA has been reviewed and verified by:

• Tommaso Roberto Raponi, P. Eng, Ausenco Engineering Canada Inc., Metallurgy Recovery Methods, and Process Infrastructure
• Jonathan Cooper, P. Eng, Ausenco Engineering Canada Inc., Water Resources
• James Millard, P.Geo, Ausenco Engineering Canada Inc., Environmental studies and Permitting
• Aleksander Spasojevic, P. Eng, Ausenco Engineering Canada Inc. Project Infrastructure – Tailings Management Facility Design
• Marc Schulte, P. Eng, Moose Mountain Technical Services, Mine Planning
• Marina Iund, P. Geo, InnovExplo, 2023 MRE¹
• Carl Pelletier, P. Geo, InnovExplo, 2023 MRE¹
• Simon Boudreau, P. Eng, InnovExplo, 2023 MRE¹

These persons have the ability and authority to verify the authenticity and validity of this data and are independent from the Company.

John McBride, MSc., P.Geo., VP Exploration of Nighthawk, is a “Qualified Person” as defined by NI 43-101 for this Project, has reviewed and approved of the scientific and technical disclosure contained in this news release.

About Nighthawk Gold Corp.

Nighthawk is a Canadian-based gold exploration and development company with 100% ownership of more than 945 km² District Scale Property within 200 km north of Yellowknife, Northwest Territories, Canada. The Colomac Gold Project PEA demonstrates a potential large-scale gold operation of 290,000oz/year per year over 11.2-year conceptual mine life that generates a C$1.2 billion after-tax NPV_5% and 35% IRR (after taxes) based on a US$1,600/oz gold. Nighthawk’s experienced management team, with a track record of successfully advancing projects and operating mines, is working towards rapidly advancing its assets towards a development decision.