Nighthawk Repays Secured Notes
Toronto, Ontario, July 15, 2016 – Nighthawk Gold Corp. (“Nighthawk” or the “Company”) (TSX Venture Exchange: NHK) is pleased to announce that it has repaid in full all outstanding debt, liabilities and obligations that Nighthawk owed pursuant to certain secured notes (the “Notes”) issued by the Company for an aggregate principal amount of $850,000 on November 20, 2015. All security granted under the Notes has been released. Further details of the Notes can be found in the Company’s press release dated November 20, 2015, which is available on SEDAR at www.sedar.com. In addition, as a result of the early repayment of the Notes, the expiry date of the 3,400,000 common share purchase warrants issued with the Notes (having an exercise price of $0.15) has been reduced to November 20, 2016 in accordance with the terms of the warrant certificates.
On July 5, 2016 Nighthawk announced initiation of its Colomac Gold Project 2016 drill program. Two drills are now operational, one testing Colomac sill high-grade gold targets and the other drilling Goldcrest sill near surface mineralization 400 metres west of Colomac. Regional prospecting and mapping programs are also well advanced, following up on priority targets generated in previous field programs.
Nighthawk remains well financed with approximately $8.6 million in cash and cash equivalents subsequent to the repayment of the aforementioned Notes.
Nighthawk is a Canadian-based exploration company focused on acquiring and developing gold mineral properties in the Northwest Territories and Northern Ontario. Including the mineral claims and leases of the Colomac Gold Project, Nighthawk’s Indin Lake Gold Property comprises a total land package of 222,203 acres in the Indin Lake Greenstone Belt, located approximately 200 kilometres north of Yellowknife, Northwest Territories. Nighthawk also holds a 100% interest in the property known as the Superior Project, which covers 39,015 acres approximately 85 kilometres north of Sault Ste. Marie, Ontario.
FOR FURTHER INFORMATION ON NIGHTHAWK PLEASE CONTACT:
Dr. Michael J. Byron, President and Chief Executive Officer
Nighthawk Gold Corp.
Tel: (416) 628-5940 or via email at [email protected]
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