Mineralization: Wide intervals of gold mineralization (Colomac Main Deposit in particular) is primarily hosted in quartz veins within diorite and felsic volcanic porphyry settings. Gold mineralization is also found in band-iron-formation (Damoti Deposit in particular) and other settings.
Potential Extraction: Open-pit (near-surface mineralization) and some underground bulk mining (deeper mineralization). Historically, gold mineralization at Colomac was extracted through open-pit mining.
There is no certainty that the 2023 MRE will be converted to Proven and Probable Mineral Reserve categories or will be realized in the future. Mineral Resource estimates that are not Mineral Reserves do not have demonstrated economic viability. The 2023 MRE 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 the Nighthawk Gold February 9, 2023 news release. Please review the 2023 MRE Technical Report, filed on March 16, 2023 on Nighthawk Gold ‘s profile in www.sedar.com
Technical information related to the 2023 MRE has been reviewed and approved by Marina Iund, M.Sc., P.Geo., Carl Pelletier, P.Geo., and Simon Boudreau, P.Eng. of InnovExplo, who are Independent and Qualified Persons as defined by NI 43-101, with the ability and authority to verify the authenticity and validity of this data.
John McBride, MSc., P.Geo., Vice President of Exploration for Nighthawk, who is the “Qualified Person” as defined by NI 43-101 for this project, has reviewed and approved of the technical disclosure contained on this website.
The Colomac Gold Project PEA was a significant milestone for Nighthawk Gold. The PEA provides a snapshot of the free-cash-flow-generating potential of the Project. The Colomac Gold Project is a top-tier North American mining project that could deliver significant value to NHK shareholders and has the potential to meaningfully contribute to the NWT economy. Only a handful of gold projects in the world (owned by junior gold companies) have similar favourable economics with the potential to deliver approximately 300,000 oz of annual conceptual gold production over a 10 year mine life and achieve an NPV5% to Initial Capex ratio close to 2.0. As such, the Colomac Gold Project belongs to a rare class of global gold assets and there is potential runway for the Project to continue to grow with additional exploration.

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. The PEA 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 the Nighthawk Gold April 26, 2023 news release. Please review the PEA Technical Report, filed on June 9, 2023 on Nighthawk Gold ‘s profile in www.sedar.com
The PEA Technical Report was prepared in accordance with NI 43-101 is filed on SEDAR (www.sedar.com). 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, P. Eng, Ausenco Engineering Canada Inc., Metallurgy Recovery Methods, and Process Infrastructure
- Jonathan Cooper, P. Eng, Ausenco Engineering Canada Inc., Water Resources
- James Millard, P.Geo, Ausenco Engineering Canada Inc., Environmental studies and Permitting
- Aleksander Spasojevic, P. Eng, Ausenco Engineering Canada Inc. Project Infrastructure – Tailings Management Facility Design
- Marc Schulte, P. Eng, Moose Mountain Technical Services, Mine Planning
These persons have the ability and authority to verify the authenticity and validity of this data and are independent from the Company. John McBride, MSc., P.Geo., VP Exploration of Nighthawk, is a “Qualified Person” as defined by NI 43-101 for this Project, has reviewed and approved of the scientific and technical disclosure contained in this website.
Infrastructure:
• 220 km from Yellowknife, NWT via combination of all-season highway and ice-roads (during winter)
• 5,000 ft. air strip
• Fully equipped camp for exploration drilling, can accommodate more than 60 people