TORONTO, April 3, 2020 /PRNewswire/ - Nighthawk Gold Corp.
("Nighthawk" or the "Company") (TSX: NHK; OTCQX:
MIMZD) is pleased to announce that it has completed the
purchase of certain net smelter return ("NSR"), and net
profit interest ("NPI"), royalties (collectively referred to
as the "Royalties"), from two parties. The Royalties relate
to certain claims within the Leta Arm Gold Project
("Leta Arm"), including the
Lexindin showing ("Lexindin"), the Treasure Island Gold
Project ("Treasure
Island"), the Laurie Lake Showing ("Laurie Lake"), and the Barker-Vidie Showing
("Barker-Vidie").
Dr. Michael Byron, President
and CEO commented, "We are pleased to have completed the
purchase of these Royalties, removing future financial burdens for
our shareholders. We reiterate our conviction in the untapped
potential of our Indin Lake Gold Property and remain confident in
our abilities to generate new discoveries."
Pursuant to the Purchase Agreement, the Company paid an
aggregate of $280,000 in cash and
issued 200,000 common shares to purchase the Royalties which
consist of a 3% NSR relating to Leta
Arm and 3% NPI on Lexindin, a 2% NSR on Treasure Island, a 2% NSR on Laurie-Lake and a
2% NSR on Barker-Vidie.
The common shares issued are subject to a hold periods under
applicable laws which expires on August
4, 2020. The acquisition remains subject to the final
approval of the Toronto Stock Exchange.
About Nighthawk
Nighthawk is a Canadian-based gold
exploration company with 100% ownership of a district-scale land
position within the Indin Lake Greenstone Belt, located
approximately 200 km north of Yellowknife, Northwest Territories, Canada.
Nighthawk is focused on advancing the Colomac Gold Project with a
current inferred resource of 2.6 million ounces of gold (50.3
million tonnes at an average grade of 1.62 grams per tonne gold),
as well as advancing its other regional gold deposits and showings
within this largely underexplored Archean gold camp.
The Company has an experienced and dedicated team and is well
funded to complete its goals and objectives over the next 12
months.
Qualified Person
Dr. Michael
J. Byron, Ph.D., P.Geo., President & Chief Executive
Officer of Nighthawk, who is the "Qualified Person" as defined by
NI 43-101 for this project, has reviewed and approved of the
technical disclosure contained in this news release. Please refer
to NI 43-101 technical report "Technical Report and mineral
resource estimate update on the Colomac Property of the Indin Lake
Project", dated June 13, 2018, as
filed under the company's profile on www.sedar.com.
Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information. Generally, forward-looking information
can be identified by the use of forward-looking terminology such as
"plans", "expects", or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
"does not anticipate", or "believes" 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 the exploration, development and mining such as
economic factors as they affect exploration, future commodity
prices, changes in foreign exchange and interest rates, actual
results of current exploration activities, government regulation,
political or economic developments, environmental risks, permitting
timelines, capital expenditures, 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, 2019,
available on www.sedar.com. 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.
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SOURCE Nighthawk Gold Corp.