Mr. Keyvan Salehi reports

NIGHTHAWK GOLD INTERSECTS 16.14 OZ/T AU (502 G/T AU) OVER 0.50 M AND 10.22 OZ/T AU (318 G/T AU) OVER 0.40 M AT THE 24/27 DEPOSIT

Nighthawk Gold Corp. has released significant drill assay results from the 24 and 27 deposits (24/27 deposit) located in the Colomac Centre area and approximately two kilometres east of the Colomac Main deposit.

Keyvan Salehi, Nighthawk president and chief executive officer, commented: "The 24/27 deposit drilling returned spectacular results. We intersected some of the highest grades at the deposit in areas outside of the estimated PEA [preliminary economic assessment] pit shells. We believe we are just scratching the surface on this zone's potential, with more high-grade, near-surface gold to be discovered with additional drilling. If we were to discover a feeder source for these high-grade intercepts, with wider mineralized widths, it could be a game-changer for the company. We are excited for our future drill programs, which will prioritize the 24/27 deposit, given this immense potential and the proximity to the Colomac Main deposit."

24/27 deposit drilling

The 24/27 deposit is in the Colomac Centre area and located two km northeast of the Colomac Main deposit. The 24/27 deposit represents two zones of near-surface gold mineralization about 250 metres apart. Mineralization at the 24/27 deposit is hosted by grey-white smoky quartz veins in volcanic rocks along the geological contact with sedimentary rocks to the east. The contact is highlighted by a prominent electromagnetic anomaly. The combination of geophysics and geology will be utilized to generate new exploration targets along the underexplored 12 km contact.

The 2023 drilling focused on the strike and depth extensions of the deposit, particularly in areas outside and in between the two pit-shells (as estimated in the Colomac gold project PEA). The company intersected significant high-grade gold mineralization in hole TFS23-06, just below and to the west of the 27 deposit pit shell, and TFS23-08, along strike to the north of the 27 deposit pit shell. The intercept expanded gold mineralization into the untested areas, potentially expanding the 27 deposit pit shell, and reducing the mineralization gap between the 24 and 27 deposit pit shells. Coarse gold samples were intersected in nine of the 12 drill holes.

The area between the 24 and 27 deposit pit shells remains highly prospective for additional expansion of mineralization. Future stepout drilling, with systematic spaced holes to infill the untested areas between the two zones of mineralization, is required. In addition, surface exploration (for example, prospecting and detailed mapping) along the 12 km geological contact zone that hosts the 24/27 deposit is warranted to help generate targets for further exploration drilling.

Please see the tables entitled "Highlight drill assay results from the 24/27 deposit drilling" and "Drill assay results summary –- 24/27 deposit" for the 24/27 deposit drill assay highlights and summary table, respectively.

Technical information

The pit shells are from the Colomac gold project PEA, which was completed by Ausenco Engineering Canada Inc. Nighthawk has implemented a quality control program to comply with best practices in the sampling and analysis of drill core. Drill core samples were transported in security-sealed bags for analyses at ALS Global Assay Laboratory in Vancouver, B.C. ALS Global is an ISO/IEC 17025 accredited laboratory. The halved drill core is stored on site, and pulps are returned and stored for record. As part of its quality assurance/quality control (QA/QC) program, Nighthawk inserts external gold standards (low to high grade), blanks and duplicates every 20 samples, in addition to the standards, blanks and pulp duplicates inserted by ALS Global.

Qualified person

John McBride, MSc, PGeo, vice-president of exploration for Nighthawk, who is the qualified person as defined by National Instrument 43-101 for this project, has reviewed and approved of the technical disclosure contained in this news release.

About Nighthawk Gold Corp.

Nighthawk is a Canadian-based gold exploration and development company with control of 947 square kilometres of district-scale property located 200 km north of Yellowknife, NWT, Canada. The company's flagship asset is the large-scale Colomac gold project. The project 2023 preliminary economic assessment demonstrates the potential for 290,000-ounce-per-year operation over an 11.2-year conceptual mine life that could generate a $1.2-billion net present value (5 per cent) and 35-per-cent internal rate of return (after taxes) based on a $1,600 (U.S.) per oz gold price assumption. Nighthawk's experienced management team, with a record of successfully advancing projects and operating mines, is working toward rapidly advancing its assets toward a development decision.

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