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Nighthawk boosts in-pit gold resources 174% at Indin Lake

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(Kitco News) - Nighthawk Gold (TSX: NHK) announced today a significant increase in pit-constrained and global resources for its 100%-owned, district-scale Indin Lake gold property, located 200 km north of Yellowknife, Northwest Territories, Canada.

According to the report, OP Indicated mineral resource estimates increased 121% to 2,062,400 gold ounces compared to the 2021 Estimate of 933,400 gold ounces, reflecting a decrease in the estimated average grade to 1.38 g/t Au as compared to 1.62 g/t Au for the 2021 Estimate.

OP Inferred mineral resource estimates increased 1,400% to 601,000 gold ounces compared to the 2021 Estimate of 40,100 gold ounces, reflecting an increase in the estimated average grade to 2.39 g/t Au as compared to 1.68 g/t Au for the 2021 Estimate.

Overall, OP Indicated and Inferred resources at Indin Lake increased 174%, from 973,500 ounces in the 2021 Estimate to 2,663,400 ounces in the 2022 Estimate.

Global Indicated mineral resource estimates increased 19% to 2,687,100 gold ounces compared to the 2021 Estimate of 2,249,100 gold ounces, reflecting a decrease in the estimated average grade to 1.44 g/t Au as compared to 1.81 g/t Au for the 2021 Estimate.


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Global Inferred mineral resource estimates increased 69% to 1,330,500 gold ounces compared to the 2021 Estimate of 786,100 gold ounces, reflecting a slight decrease in the estimated average grade to 2.10 g/t Au as compared to 2.13 g/t Au for the 2021 Estimate.

Overall, Global Indicated and Inferred resources at Indin Lake increased 32%, from 3,035,200 ounces in the 2021 Estimate to 4,017,600 ounces in the 2022 Estimate.

President and CEO Keyvan Salehi commented, "We are extremely pleased with the results of the updated 2022 MRE, which exceeded our own expectations. After evaluating all the data and working towards a future conceptual mine plan, we believe that the scalability of the project to a potentially robust, large open-pit operation, far outweighs the marginal decrease in overall OP grades compared to the 2021 Estimate. With just over 72,000 metres of drilling completed last year, our current evaluations and consideration of the project benefit tremendously from the extensive information received from our 2021 drill campaign."

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 Belt, located approximately 200 km north of Yellowknife, Northwest Territories, Canada. The company is advancing several prospective exploration targets.

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