Nighthawk Gold Corp. (“Nighthawk” or the
“Company”) (TSX: NHK; OTCQX: MIMZF) reports that the Colomac
Gold Project camp site remains secured and unaffected by the
wildfires that are currently impacting areas in Northwest
Territories, Canada, including the city of Yellowknife. Exploration
drilling at the 24/27 Deposit was completed in mid-July and the
camp was subsequently closed and shut down for the upcoming fall
and winter season. There are currently no personnel at the camp
site, and they are 100% safe.
Nighthawk President & CEO Keyvan Salehi commented,
“Many areas of the Northwest Territories have been severely
impacted by the wildfires, including our neighbouring communities
and the city of Yellowknife. Currently, the Colomac Gold Project
camp site is closed, secured, and unaffected by the wildfires and
there are no personnel at our site. We continue to monitor the
situation and we will update the markets if there are any changes.
Our thoughts are with the people of NWT and the communities
impacted. Our team will aim to provide any support needed. We hope
for an immediate resolution to the ongoing wildfires.”
About Nighthawk Gold Corp.
Nighthawk is a Canadian-based gold exploration and development
company with control of 947 km2 of District Scale Property located
200 km north of Yellowknife, Northwest Territories, Canada. The
Company’s flagship asset is the large-scale Colomac Gold Project.
The Project 2023 PEA1 demonstrates the potential for 290,000oz/year
operation over 11.2-year conceptual mine life that could generate a
C$1.2 billion NPV5% and 35% IRR (after taxes) based on a
US$1,600/oz gold price assumption. 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.
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, PEA and the potential extractability of the open pit and
underground mineralization, the potential expansion of Mineral
Resource Estimates, the potential for the economics of the Project
to be realized and to improve, the potential for higher-grade assay
results, the potential of the Project to be developed, the
large-scale and robust nature of the Project PEA, the advancement
of the PEA towards a higher-level economic study, the 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, the advancement of projects towards a development decision,
and the secure and unaffected status of the Project camp site.
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”, “conceptual”, “confidence”, “continue”,
“convert” or “conversion”, “deliver”, “demonstrating”, “estimates”,
“encouraging”, “expand” or “expanding” or “expansion”, “expect” or
“expectations”, “forecasts”, “forward”, “goal”, “improves”,
“increase”, “intends”, “justification”, “plans”, “potential” or
“potentially”, “promise”, “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 ongoing wars and their effect on supply chains,
environmental risks, COVID-19 and other pandemic risks, the recent
wildfires in Northwest Territories, permitting timelines, capex,
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, 2022,
available on www.sedarplus.ca. 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.
Cautionary Statement regarding the PEA
The reader is advised that the PEA referenced in this press
release is only a conceptual study of the potential viability of
the Project's mineral resource estimates, and the economic and
technical viability of the Project and its estimated mineral
resources has not been demonstrated. The PEA is preliminary in
nature and provides only an initial, high-level review of the
Project's potential and design options; there is no certainty that
the PEA will be realized. The PEA conceptual LOM plan and economic
model include numerous assumptions and mineral resource estimates
including Inferred mineral resource estimates. Inferred mineral
resource estimates are too speculative geologically to have any
economic considerations applied to such estimates. There is no
guarantee that Inferred mineral resource estimates will be
converted to Indicated or Measured mineral resources, or that
Indicated or Measured resources can be converted to mineral
reserves. Mineral resources that are not mineral reserves do not
have demonstrated economic viability, and as such there is no
guarantee the Project economics described herein will be achieved.
Mineral resource estimates may be materially affected by
environmental, permitting, legal, title, taxation, socio-political,
marketing, or other relevant risks, uncertainties, and other
factors, as more particularly described in the Cautionary
Statements at the end of this news release.
________________________________ 1For more information on the
Colomac Gold Project Preliminary Economic Assessment
(“PEA”), please refer to the NI 43-101 technical report
titled “Colomac Gold Project NI 43-101 Technical Report and
Preliminary Economic Assessment, Northwest Territories, Canada”
dated June 9, 2023 which is available on SEDAR+ www.sedarplus.ca
the Company’s website (www.nighthawkgold.com).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230818786473/en/
FOR FURTHER INFORMATION PLEASE CONTACT: NIGHTHAWK GOLD
CORP. Tel: +1 (416) 863-2105; Email: info@nighthawkgold.com
Website: www.nighthawkgold.com
Keyvan Salehi President & CEO
Salvatore Curcio CFO
Allan Candelario VP, Investor Relations & Corporate
Development
Nighthawk Gold (TSX:NHK)
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