Mr. Keyvan Salehi reports
NIGHTHAWK GOLD FILES THE NI 43-101 TECHNICAL REPORT FOR THE COLOMAC GOLD PROJECT PEA
Nighthawk Gold Corp. has filed a technical report for the preliminary economic assessment for the Colomac gold project, with an effective date of April 26, 2023. A copy of the PEA technical report is available on SEDAR or on the company's website.
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 National Instrument 43-101 and filed on SEDAR. 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, PEng, Ausenco Engineering Canada Inc., metallurgy recovery methods and process infrastructure;
Jonathan Cooper, PEng, Ausenco Engineering Canada, water resources;
James Millard, PGeo, Ausenco Engineering Canada, environmental studies and permitting;
Aleksander Spasojevic, PEng, Ausenco Engineering Canada, project infrastructure -- tailings management facility design;
Marc Schulte, PEng, Moose Mountain Technical Services, mine planning;
Marina Iund, PGeo, InnovExplo, 2023 mineral resource estimate (1);
Carl Pelletier, PGeo, InnovExplo, 2023 MRE (1);
Simon Boudreau, PEng, InnovExplo, 2023 MRE (1).
These persons have the ability and authority to verify the authenticity and validity of these data and are independent from the company.
John McBride, MSc, PGeo, vice-president, exploration, of Nighthawk, is a qualified person as defined by National Instrument 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-per-cent ownership of a more-than-945-square-kilometre district-scale property within 200 kilometres north of Yellowknife, NWT, Canada. The Colomac gold project PEA
demonstrates a potential large-scale gold operation of 290,000 ounces per year over an 11.2-year conceptual mine life that generates a $1.2-billion after-tax net present value discounted at 5 per cent and 35-per-cent internal rate of return (after taxes) based on $1,600 (U.S.) per ounce gold. Nighthawk's experienced management team, with a record of advancing projects and operating mines, is working toward rapidly advancing its assets toward a development decision.
(1) For more information on the updated mineral resource estimate, please refer to the NI 43-101 technical report titled "NI 43-101 Technical Report and Update of the Mineral Resource Estimate for the Indin Lake Gold Property, Northwest Territories, Canada," dated March 15, 2023. Both are available on SEDAR or the company's website.
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