Developing Canada's NEXT GOLD CAMP - PRECIOUS METALS SUMMIT (VIRTUAL)
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TSX: NHK
OTCQX: MIMZF
TSX: NHK
OTCQX: MIMZF
Developing Canada’s
NEXT GOLD CAMP
PRECIOUS METALS SUMMIT (VIRTUAL)
September 15-17, 2020
1
Forward-Looking Statement TSX: NHK
OTCQX: MIMZF
FORWARD-LOOKING INFORMATION
This presentation contains “forward-looking statements” within the meaning of applicable United States securities legislation and “forward-looking
information” within the meaning of applicable Canadian securities legislation, together “forward-looking information”. This forward-looking information
is made as of the date of this presentation and Nighthawk Gold Corp. (“Nighthawk”, or “NHK”) does not intend, and does not assume any obligation, to
update the forward-looking information.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance are not statements of historical fact and may be “forward-looking information”. Forward looking information in
this presentation includes, but is not limited to, statements with respect to: the Company’s ongoing exploration programs at Colomac, including
the ability to add upwards of 1.5 Moz of additional resources grading anywhere from 1.8 to 2.0 gpt Au with an estimated 50,000 to 75,000 metres
of drilling and the timing surrounding such an endeavour; any ability to convert Indicated Resources to Measured Resources or into Mineral
Reserves, and the timing and results thereof; the timing and resources required to advance the project towards the development stage; the
ability to grow ounces quickly given the widening of the mineralized portion of the sill at depth, and the timing surrounding such an endeavour;
continued exploration at the Company’s various high-priority satellite targets and their ability to become stand alone deposits in their own right;
and access to available capital to complete all work necessary to achieve the Company’s stated goals and objectives. Forward-looking information
involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking
information. Such factors include, among others, risks related to government regulation; actual results and success of exploration, development
and production decision if any; changes in project parameters as to plans continue to be refined; the ability to enter into joint venture or to
acquire or dispose of property interests; fluctuations in the price of gold; accidents and other risks of the mining industry; ability to obtain
financing; and delays in obtaining governmental approvals or financing.
Although Nighthawk has attempted to identify important factors in its Annual Information Form for the year ended December 31, 2018 (which is
available under the Company’s profile on SEDAR at www.sedar.com), 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. Nighthawk does not intend, and does not assume any obligation, to update this forward-looking
information except as otherwise required by applicable law.
GENERAL AND ADDITIONAL INFORMATION
Additional information regarding Nighthawk is filed under the profile of Nighthawk on the SEDAR website at www.sedar.com, and readers are
advised to refer to such documents for further information. All dollar amounts are in Canadian dollars unless otherwise denoted.
2
Cautionary Note Regarding Estimates of Resources TSX: NHK
OTCQX: MIMZF
Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of mineral resources that are not
mineral reserves has not been demonstrated. The estimate of mineral resources may be materially affected by geology, environmental, permitting,
legal, title, socio-political, marketing or other relevant issues. The 2020 MRE is classified in accordance with the Canadian Institute of Mining,
Metallurgy and Petroleum’s “2014 CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43-
101. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies or economic
studies except for Preliminary Economic Assessment as defined under NI 43-101. Readers are cautioned not to assume that further work on the
stated resources will lead to mineral reserves that can be mined economically.
The Company has defined inferred mineral resources in accordance with National Instrument 43-101 - Standard of Disclosure for Mineral
Projects (“NI 43-101”) in respect of the Colomac Gold Project and Damoti Lake Gold Project.
An Inferred Mineral Resource as defined by the CIM Standing Committee is “that part of a Mineral Resource for which quantity and grade or
quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological
and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource
and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to
Indicated Mineral Resources with continued exploration.”
Cautionary Note to US Investors
This presentation uses the term “inferred” mineral resources. United States investors are advised that while such term is recognized and
required by Canadian regulations, the United States Securities and Exchange Commission does not recognize it. “Inferred mineral resources”
have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any
part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources
may not form the basis of feasibility or other economic studies, except in limited circumstances. United States investors are also cautioned
not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable.
QUALIFIED PERSONS
Technical information related to the mineral resource estimate contained in this presentation has been reviewed and approved by Leon
McGarry, B.Sc., a Senior Resource Geologist with CSA Global Canada Geosciences Ltd., who is an independent Qualified Person as defined by
NI 43-101, with the ability and authority to verify the authenticity and validity of this data. Please refer to the technical report entitled “NI 43-
101 Technical Report on the Indin Lake Property – Colomac Project”, dated July 26, 2018, for supporting information, as filed on SEDAR at
www.sedar.com.
All scientific and technical information in this presentation has been reviewed and approved by Dr. Michael Byron, Ph.D., P.Geo., the
Company’s President & CEO, who is the 'qualified person' for the purpose of NI 43-101.
3
TSX: NHK
OTCQX: MIMZF
✓ District-Scale Land Position
NIGHTHAWK… ✓ Tier 1 Jurisdiction
✓ 95% Control of a Fertile and Underexplored
A Compelling Archean Gold Camp
Investment
Opportunity ✓ Centered Around a Growing,
Multi Million-Ounce Gold
Providing Deposit
Tremendous
✓ A Robust Asset Base for a
Growth Potential Discovery Challenged Industry
Colomac Resources1 Well Funded Aggressive Drill Program3
1.67 Moz Indicated $16.6MM 25k metres - 2020
0.37 koz Inferred Cash on hand2 75k metres - 2021
Partnership & Support
Northfield Capital – Kinross – Osisko Royalties
1. Refer to appendix for NI 43-101 mineral resource statement and notes; 2. Cash balance as at August 20, 2020; 3. Budgeted drill program for 2021 subject to
future financing capabilities
4
Northwest Territories (NWT) TSX: NHK
OTCQX: MIMZF
A Tier 1 Jurisdiction for Gold Exploration Property Location and Access
• Located approx. 200km north of Yellowknife
• The Indin Lake Gold Property is accessed by a
Alaska 5,000 ft airstrip year-round, and by ice road
NORTHWEST
Eagle Gold
TERRITORIES
during the winter
Nunavut
Yukon Indin Lake
Gold Property
• Supportive Governments: Northwest Territory (newly
elected government supportive of the industry and
infrastructure development) and First Nations
• Well established support services, with a timely and
efficient permitting process
Remarkable metal endowment with extensive mining history: Approved all-season
Known for its wealth of diamonds, NWT has mining potential that includes road – construction
commenced Aug/2019
gold, lead, zinc, copper and iron ore.
In 2017, resources accounted for approximately 31% of the territories
GDP. The NWT government is proactive in supporting the advancement of
future projects and development of the region.
5
5
Indin Lake Gold Camp TSX: NHK
OTCQX: MIMZF
Numerous Gold Showings and Targets within the Vast and Underexplored Archean Gold Camp
Indin Lake Property
• 222,203 acres (899 km2) Indin Lake Property
• 3X the size of the Timmins Gold Camp
N
Treasure Island/ JPK
• Numerous gold deposits and showings distributed
throughout the camp
• Core claims have been converted to mining leases
Colomac/Goldcrest Sill
4 Distinct Deposit Settings
Echo Indin
Differentiated • Colomac Main
Leta Arm
Mafic Sill • Goldcrest
• Leta Arm (includes historical
Structure Related North Inca & Diversified
“Lode Gold” deposits)
Damoti Lake
• Echo Indin
• Damoti Lake
Iron Formation
Fishhook Hosted
• Fishook
• JPK
Brecciated
Intrusion Hosted
• Cass Deposit
6
Flagship Asset - Colomac Gold Project TSX: NHK
OTCQX: MIMZF
> 97% of Drill Holes Intersected Gold Mineralization
Colomac is a past producing open pit project that ceased
operations in 1997. Historic production of ~0.5Mozs
• 5 deposits (Colomac, Goldcrest, Grizzly Bear, 24 & 27)
• Wide zones of near surface mineralization
• No royalties
Considerable Growth Potential
• ~16 km long underexplored host rock
• Growing, multi-million-ounce deposit
• Exploring for additional high-grade gold zones
• Newly discovered Nice Lake sill yet to be drilled
Excellent Preliminary Metallurgy1
• High recoveries of 96.3% to 98.0%, using a combination
of gravity and cyanide leaching methods
• Amenable to standard gold recovery techniques
• No adverse materials detected
• Cyanide heap leach results varied between 34.3% up to
81.8% gold recovery – within acceptable range
1. See appendix for Metallurgical comparisons on the lower grade and higher-grade material as well as results of all process recovery techniques
7
High-Grade Potential: Kalgoorlie Gold Camp Analogue TSX: NHK
OTCQX: MIMZF
Colomac Golden Mile Dolorite
Golden Mile
Colomac Property Dolorite
Western
NWT Location Australia
~10km strike >10km strike
length
Size length
Gold
~0.5 Mozs >60 Mozs
Production
10 km
Archean Age Archean
Both Deposits Share Similar Characteristics
• Deposits hosted by fractionated mafic intrusions
within mafic volcanic rock stratigraphy
• Gold Concentrated within the more silica-rich
fractions (tops of sills)
0 2.5 5
• Location of high-grade zones largely controlled by
km
structure
Using Kalgoorlie as an analogue assists with developing priority drill targets.
8
Discrete High-Grade Zone 1.5 Best Gold Intercept To-Date
TSX: NHK
OTCQX: MIMZF
C14-06 Discovery Hole
C19-08
Looking West
C Zone 1.5 discovery hole
Drill Hole Assay Results
Drill Hole Assay Results
C19-082 56.00 metres of 13.49 gpt Au
C14-061 52.50 m @ 7.78 gpt
Including 30.50 metres of 22.12 gpt Au
Including 21.0 m @ 16.73 gpt
1. See press release dated Dec/03/14 Including 10.00 metres of 53.57 gpt Au
2. See press release dated May/28/19 9
Widening of the Mineralized Portion of the Sill at Zone 1.5 TSX: NHK
OTCQX: MIMZF
Drilling tested Zone 1.5 to a vertical depth of ~850 m
C Zone 1.5 additional drilling
Mineralized top of sill widens 3X to depth to 155 m true width
Drill Hole Assay Results
C15-06 31.20 m @ 3.89 gpt, incl. 22.50m @ 5.03 gpt
C16-03 52.07 m @ 7.72 gpt, incl. 25.47 m @ 14.25 gpt
C16-03B 72.65 m @ 5.58 gpt, incl. 17.80 m @17.72 gpt
* See press release Sept/18/2017
*See press releases dated Oct/26/2015; Sept/13/2016; and Oct/12/2016
10TSX: NHK
Potential Widening Of Sill Across 3.5km Strike Length OTCQX: MIMZF
From Zone 3.5 northwards to Zone 1.5
ZONE 3.5 ZONE 2.0
*See press releases dated Jan/07/20 and Dec/03/19 11Colomac Main Sill – 2020 MRE Longitudinal Section TSX: NHK
OTCQX: MIMZF
Longitudinal Section – Looking West
56.00m @ 13.49 gpt Au (2019) 52.00m @ 7.78 gpt Au (2014)
105.00m @ 1.35 gpt Au (2019)
POTENTIAL FOR RESOURCE
EXPANSION
POTENTIAL FOR RESOURCE EXPANSION
0 1000
POTENTIAL FOR RESOURCE EXPANSION 235.05m @0.99 gpt Au (2017) metres
110.50m @1.8 9gpt Au (2019)
OPEN Historic (1997) 1 OPEN OPEN OPEN
4.75 m @7.63 gpt Au
12.19 m @3.24 gpt Au
• Upgraded and constrained resource provides higher confidence with reasonable prospect for
eventual economic extraction1
• Higher in-situ value for Indicated Resources
• Updated discovery cost of US$11/oz - well below industry average
• Defined underground Indicated Resource with grade of 2.21 gpt Au, allowing for expansion of
resources to depth
• Contemplates a bulk mining approach given the style of mineralization and distribution of gold
within the quartz diorite
1. This Mineral Resource Estimate has been prepared using reasonable cut-off grades for pit constrained, bulk underground and selective underground extraction mining methods. 12COLOMAC – A Strong Foundation For Growth TSX: NHK
OTCQX: MIMZF
• Conversion to Indicated Resources with the possibility to be converted to
Measured Resources and eventually Mineral Reserves1
• Exploration Target outlines near-term addition of up to 1.5 Moz ranging from
1.8 gpt Au to 2.0 gpt Au, with anywhere from 50,000 – 75,000 metres of
drilling
• Opening up the depth potential at Colomac has provided a tremendous
opportunity for growth beyond the Exploration Target
• Colomac Main is +7km strike length X 30 – 50 m true width near surface and
upwards of 155 m true width at depth and remains open in all dimensions
1. An Indicated Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient
confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. An Indicated Mineral
Resource has a lower level of confidence than that applying to a Measured Mineral Resource and may only be converted to a Probable Mineral Reserve.Highly Prospective Satellite Targets TSX: NHK
OTCQX: MIMZF
A Colomac Gold Project
1.67Moz @ 2.01 gpt Au Indicated + 0.37 Moz @ 2.03 gpt Au1 E
D
B Damoti Lake C Leta Arm
I
0.12 Moz @ 4.97 gpt Au Inferred1 • 26.0 m of 6.86 gpt Au
• 11.75 m of 7.23 gpt Au
• 17.5 m of 5.81 gpt Au G
D Treasure Island A
• 46.25 m of 3.31 gpt Au - Incl. 21.75 m of E JPK
6.23 gpt Au
• Great prospecting results
• 18.50 m of 7.37 gpt Au – incl. 8.00 m of
• Never drilled
16.14 gpt Au C
F Fishhook2 G Echo-Indin H
• 8.6 m of 14.21 gpt Au • 3.50 m of 9.00 gpt Au
• 13.55 m of 7.36 gpt Au • 7.00 m of 2.77 gpt Au B
• 12.92 m of 5.44 gpt Au
H Andy Lake I Swamp
• Grab samples ranged from 0.50 • Upgraded target with surface samples
gpt Au to 42.10 gpt Au up to 43.60 gpt Au
• Initial drilling confirms mineralization
F
• Never drilled
continues to depth
1. Refer to appendix for NI 43-101 mineral resource statement and notes.
2. These results are historical in nature and Nighthawk has not independently verified the results
3. These results are historical in nature and Nighthawk has not independently verified the results
14Damoti Lake Gold Project – High-Grade BIF TSX: NHK
OTCQX: MIMZF
Area of focus • Mineralization is hosted in folded Archean iron-
2010 winter drill program formation associated with fold related fracturing and
Area of focus Diversified hydrothermal alteration where gold is preferentially
2010 winter drill program Mine located within fold noses and parasitic structures.
• Areas of significant gold mineralization occur in
association with sulphide minerals, predominantly
pyrrhotite and to a lesser extent pyrite replacing
magnetite.
Highlights of 2018 Drilling
Hole Zone
(Selected Results):
6.95 m @ 10.12 gpt Au;
D18-02 Horseshoe
incl. 4.20 m @ 15.81 gpt Au
9.35 @ 4.34 gpt Au; Horseshoe
D18-02B
Incl. 2.60 m @ 11.59 gpt Au
14.75 m @ 6.91 gpt Au; Horseshoe
D18-07B
incl. 4.25 m @ 15.28 gpt Au
8.65 m @ 1.89 gpt Au; Red Mountain
D18-06 New Discovery
incl. 1.50 m @ 6.14 gpt Au
4.25 m @ 3.31 gpt Au; Red Mountain
D18-06B New Discovery
incl. 1.25 m @ 10.22 gpt Au
15Damoti MRE TSX: NHK
OTCQX: MIMZF
• Based 266 drill holes totaling 33,433 metres (256 historical drill holes totaling 30,157 metres, and 10 drill
holes totaling 3,276 metres), completed by Nighthawk between 2012 and 2019
• Mineral resources for Damoti were compiled using a minimum cut-off grade of 2.00 gpt for an underground
selective extraction method scenario (Table 2). A cut-off sensitivity Table is provided for Damoti
• Drilling at Damoti since 2018 by Nighthawk has confirmed geological and grade continuity of the mineralized
zones supporting the initial mineral resource estimate for the project of 0.74 Mt at an average grade of 4.97
gpt Au for 0.12 Mozs
oblique view looking northwest
Damoti Inferred
Resource
117,800 ounces
(0.74 Mt at 4.97 gpt
AU)
16Leta Arm Mineralized Corridor TSX: NHK
OTCQX: MIMZF
Results from 2017 Surface Sampling Program
Located 15km southwest of Colomac along the Leta
Arm Fault Zone (“LAFZ”) within a well mineralized
deformation zone up to 10 kilometres long and 500
metres wide:
• 4 known gold deposits
• High-grade gold within contact related
silicified zones - open along strike and at
depth
• 3 deposits believed part of the same
mineralized structure
• Regional sampling defines high-grade gold
trend with assays up to 95.4 gpt Au and
29.4 gpt Au
• Mineralization associated with both flat
lying and vertical quartz-carbonate veins
found near and within the LAFZ
Total metres drilled to date: 19,532
*See press release dated Apr/12/18
17Leta Arm – 2018 Drilling at North Inca & Diversified TSX: NHK
OTCQX: MIMZF
Drilling in 2018 focused on:
• Extending the deposits and exploring for a
potential connection along strike
• Actively searching for new deposits along
the LAFZ
Selected Highlights from 2018 Drilling
Drill Hole Assay Results
NI18-03B 25.50 m (13.00 m true width) @2.68 gpt Au
Including 9.95 m @4.90 gpt Au
And 4.60 m @6.60 gpt Au
DV18-08 17.50 m (14.00 m true width) @5.81 gpt Au
Including 9.25 m @9.65 gpt Au
And 4.75 m @18.12 gpt Au
*See press release dated Jul/05/18 18Treasure Island-Laurie Lake Mineralized Corridor TSX: NHK
OTCQX: MIMZF
• Located approx. 11km north of Colomac
• 7-km long tract that hosts several surface
gold showings
• Historical trenches, overburden pits and
channel sample sites lie along a NE-SW
mineralized trend consistent with the
western extension of the Treasure Island-
Laurie Lake Mineralized Corridor
• Regional geology consists of alternating
mafic metavolcanics and turbiditic
metasedimentary units
• more than 75% of the Treasure Island-Laurie
Lake Mineralized Corridor yet to be explored
First drilled in 2011, a total of 5,419 metres of drilling completed to date along
Treasure Island: with follow-up surface sampling which resulted in a new discovery in 2017
Followed up on historical drilling in 2014 with a surface sampling and mapping
Laurie Lake: program. In 2018, 41 additional samples collected ranging from 1.05 gpt Au to
22.50 gpt Au.
JPK: Great prospecting results, never drilled
2019: 52 holes 11,235 m total
19Treasure Island TSX: NHK
OTCQX: MIMZF
2019 Selected Drilling Highlights Drilling to-date has traced the Main Zone
continuously for over 750 metres along
strike, 200 metres in width and from
surface to upwards of 200 metres
vertical depth where it remains open.
Drill Hole Assay Results – Main Zone
T19-11 12.70 m @ 8.51 gpt Au
including 7.30 m @ 14.06 gpt Au
T19-12 20.70 @ 2.57 gpt Au
Including 8.20 m @ 5.64 gpt Au
Including 2.80 m @ 15.18 gpt Au
T19-01 6.25 m @ 12.08 gpt Au
Including 2.50 m @ 25.61 gpt Au
T19-01B 6.50 m @ 10.20 gpt Au
Including 3.75 m @ 16.38 gpt Au
20
*See press releases dated September 5, 2019 and February 4, 2020.. 20Treasure Island TSX: NHK
OTCQX: MIMZF
2017 & 2018 Surface Sampling
• 4 km exploration gap between
Treasure Island from Laurie Lake to
the west
• >95% of mineralized corridor yet to
be explored.
Selected Highlights from 2019/2018 Drill Program
Drill Hole Assay Results – Main Zone
TI18-03B 18.50 m @7.37 gpt Au
Including 8.00 m @16.14 gpt Au
And 5.25 m @22.00 gpt Au
TI18-04B 46.25 m @3.31 gpt Au
Including 21.75 m @6.23 gpt Au
And 7.75 m @14.20 gpt Au
Drill Hole Assay Results – East Zone
TI18-08B 11.75 m @10.78 gpt Au
Including 6.50 m @19.15 gpt Au
*See press release dated February 4, 2020 and October 22, 2018.21
*See press release dated Apr/12/18 21Next Steps TSX: NHK
OTCQX: MIMZF
• Realize Exploration Target & Test Blue Sky Potential
➢ ~20,000 metres of drilling focused at Colomac this
Drill to Advance year
Resource Growth
Potential ➢ Approved drilling budget for 2021 of +50,000 metres
of drilling at Colomac
• Internal Scoping Study will Assist with Future Exploration
Efforts
➢ Data from the 2020 Colomac MRE will be utilized by
Advance Colomac JDS Mining and Energy to produce a preliminary
Towards a PEA
Stage Project internal scoping study to assess the economic
viability of the project based on known information
to date
• Focus Drilling at two Priority Areas, Leta Arm and Treasure
Island
Advance Regional ➢ Continue drilling 4 known deposits within southern
Exploration Efforts 2.5km section of 20km long unexplored mineralized
to Support corridor
Colomac Storyline
➢ Step-out drilling to test the western projection of
mineralization 1km west of Main Zone with potential
to double target strike length from 7km to 14km
22Indin Lake Gold Property - Blue Sky Potential Outlined TSX: NHK
OTCQX: MIMZF
• Opening up the depth potential at
TREASURE ISLAND –
LAURE LAKE
7km Trend
Colomac has provided a tremendous
opportunity for growth
COLOMAC
• Colomac Main is +7km strike length X 30
– 50 m true width near surface and
upwards of 155 m true width at depth
and remains open in all dimensions
• Archean greenstone belts hosting large
regional deformation zones (Leta Arm
and Treasure Island-Laurie Lake) are
known to host significant deposits, thus
the regional targets represent coveted
assets
INDIN LAKE GOLD PROPERTY
23Share Structure & Cash On Hand TSX: NHK
OTCQX: MIMZF
Cash On Hand (C$) (Aug 20, 2020) $16.6 Closing share price (C$) $1.58
(Sept 3, 2020)
Hard Dollars $5.7
Market capitalization (C$) (basic) $80
Flow-through Dollars $10.9
52 Week Low: $0.97 52 Week High: $3.65
Issued & Outstanding (basic)
Ownership & Share Structure (Sept 3, 2020)
50.9
5% Options outstanding (avg. strike price - $2.30) 2.7
19.8%
Restricted Share Units 0.3
Warrants 1.3
9.9%
50%
9.3%
6%
24TSX: NHK
OTCQX: MIMZF
AppendixDirectors & Officers TSX: NHK
OTCQX: MIMZF
MANAGEMENT DIRECTORS
Dr. Michael Byron
President & CEO, Director Morris Prychidny Brent Peters
• 30+ years experience in mineral exploration and senior • 35+years experience in • 15+ years of experience
management the mining and real- in the mineral
estate industries exploration business
• Former VP Exploration for Lake Shore Gold Corp., Falco Resources
Ltd., and Aurora Platinum Corp. • Board member of • VP, Finance of
numerous investment Northfield Capital,
• Proven track record building gold and base metal resources and mining companies former CFO of Gold
Eagle Mines Ltd
Michael Leskovec Brian Howlett Luc Lessard
CFO • CPA with 25+ years of • Mining engineer with
• CPA with 15+ years of financial experience within public practice and experience in senior +25 years experience,
the mining industry financial roles including building the
Canadian Malartic Mine
• VP, Northfield Capital • Proven track record of
adding value to clients • Sr. VP, Technical
• Former Officer of Gold Eagle Mines Ltd and employers Services of Osisko Gold
Royalties and President
• Officer/Director
& CEO of Falco
experience with junior
Suzette N. Ramcharan Resources Ltd
exploration companies
VP, Corporate Development
• 18+ years of experience with exploration, development and
Ernie Eves
producing companies in the precious metals space
• Former Premier of Ontario
• Previously worked with Kirkland Lake Gold Inc., St Andrew • Former Ontario Minister of Finance
Goldfields Ltd., Gold Eagle Mines Ltd., and Gabriel Resources Ltd.
26
26Colomac - Development Since 2012 Acquisition TSX: NHK
OTCQX: MIMZF
2012 2013 2014 2015
• Acquired Colomac
• Initial Resource Estimate • Resource Estimate outlined
outlined 1.45Moz of Inferred 2.10 Moz of Inferred Resources • 9,673 metres • 2,080 metres
Resources (42.65 Mt at an (outlined 39.82 Mt at 1.64 of drilling of drilling
average grade of 1.05 gpt Au) grade for )
• Drilled 11,235 metres, verified
historic drill holes
2016 2017 2018 2019
• Resource Update outlined 2.6Mozs of Inferred
• 8,369 metres • 24,475 metres • 35,018 metres
Resources (50.31 Mt at an average grade of
of drilling of drilling of drilling
1.62 gpt Au)
• Drilled 17, 319 metres
27Colomac - Drilling History TSX: NHK
OTCQX: MIMZF
The 2020 Colomac MRE incorporates 924 drill holes totaling 177,598 metres
Historical Drilling 608 drill holes totaling 72,521 metres
Nighthawk Drilling
174 drill holes totaling 55,529 metres
(2012 – 2017)
Nighthawk Drilling Since 2018 MRE
142 drill holes totaling 49,547
(2018-2019)
• Drilling in 2018 and 2019 were focused mainly at the Colomac Main sill (where
84% of the resources are located), Goldcrest, and to a lesser degree, Grizzly Bear.
• The 24 and 27 deposits have never been drilled by Nighthawk, and are based on
historical drilling.
28TSX: NHK
OTCQX: MIMZF
24
Colomac
2020 MRE Deposits
South
Grizzly Bear
29Colomac Main - 2020 MRE Model TSX: NHK
OTCQX: MIMZF
302020 Colomac MRE Improvements TSX: NHK
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UPGRADED & Deposits are constrained based on economic and technical parameters that are relevant, reliable
CONSTRAINED and in accordance with industry standards providing higher confidence in possible future
economic viability of the deposit as an open pit and underground bulk mining operation.
RESOURCE1,2
This advancement supports continued drilling to depth where the deposit is known to expand
UNDERGROUND significantly in true width, thus improving the potential for future resource expansion.
RESOURCES DEFINED2
Opens up the deposit well below the constraints of an open pit project.
82% CONVERTED TO Excellent conversion ratio of Inferred to Indicated resources (which carry a higher level of
confidence and value).
INDICATED
RESOURCES3 2020
Indicated Colomac
Resources MRE
have the Improvements
potential to be converted into Mineral Reserves down the road.
The average grade increased by 24% to 2.01 gpt Au, which is a key improvement for a project in
INCREASED GRADE the north and positively impacts future project economics especially in-light of the underground
potential.
The high conversion ratio from Inferred to Indicated Resources combined with the updated
litho-structural model and pit constrained resources, have greatly improved project robustness,
overall estimate confidence, and elevated the potential in situ value of the 2020 Colomac MRE.
1. This Mineral Resource Estimate has been prepared using reasonable cut-off grades for pit constrained, bulk underground and selective underground extraction mining methods.
2. Specific extraction methods are used only to establish reasonable cut-off grades for various portions of the deposit. No Preliminary Economic Analysis, Pre-Feasibility Study or Feasibility Study
has been completed to support economic viability and technical feasibility of exploiting any portion of the mineral resource, by any specific mining method.
3. An Indicated Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to
allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. An Indicated Mineral Resource has a lower level
of confidence than that applying to a Measured Mineral Resource and may only be converted to a Probable Mineral Reserve.
3182% Conversion Rate To Indicated Resources TSX: NHK
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The excellent conversion ratio from Inferred to Indicated Resources substantiates the
geological and grade continuities of the 2020 Colomac MRE deposits
• Drilling data collected in 2018 and 2019, combined with a better understanding of structural
controls and upgraded structural and geological models based on the Drone LIDAR survey of pit
walls and oriented drilling results, gave the resource authors comfort to upgrade 82% of the
resources to Indicated
Results from Converting Inferred to Indicated Resources:
• Some loss in total resource ounces due to conversion of an Inferred to an Indicated Resource
(the industry standard is typically between 20% to 50% as a generally accepted range for drop in
ounces due to the conversion process)
• Higher in-situ value for Indicated Resources
• With additional infill drilling, Indicated Resources (which carry a higher level of resource
confidence and value), have the possibility to be upgraded to Measured Resources and
eventually Mineral Reserves if proven to be economical to extract
322020 Colomac MRE - Underground Resources Defined For The TSX: NHK
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First Time At Colomac
TOTAL UNDERGROUND INDICATED TOTAL UNDERGROUND INFERRED
RESOURCES: RESOURCES:
67% or 1.12 Moz with an average 91% or 0.34 Moz with an average
grade of 2.20 gpt Au is contained grade of 2.06 gpt Au is contained
within the Underground Resource within the Underground Resource
COLOMAC MAIN
Colomac Main accounts for 85% of the total resources
1.10 Moz at 2.21 gpt Au of Indicated Resources and 0.32 Moz at 2.08 gpt Au of Inferred Resources
defined within the underground resource
33Colomac Main - Search Ellipsoid Orientations TSX: NHK
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34Colomac Main - Whittle Pit Shells TSX: NHK
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Based on the level of exploration achieved to date and in accordance with the CIM best practice
guidelines, open pit resources are constrained by pit shells using GEOVIA WhittleTM, and
underground resources optimized (manually constrained)
35Colomac Main – Comparison to 2018 MRE TSX: NHK
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36Colomac Updated NI 43-101 Resource Estimate TSX: NHK
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Effective at July 28, 2020 (broken down by deposits for combined open pit and underground bulk
mining method scenarios)
Mining Cut-off
Indicated Resources Inferred Resources
Deposit
Method (gpt Au) Tonnes Grade Tonnes Grade
Ounces Ounces
(000’s) (gpt Au) (000’s) (gpt Au)
Colomac Open pit 0.60 7,996 1.73 443,800 159 1.46 7,500
Main UG Bulk 1.30 14,922 2.21 1,058,800 4,740 2.08 316,500
Open pit 0.60 1,362 1.56 68,100 8 1.00 300
Goldcrest
UG Bulk 1.30 780 2.08 52,200 217 1.79 12,500
Open pit 0.60 628 1.62 32,800 12 1.52 600
Grizzly Bear
UG Bulk 1.30 202 1.89 12,300 30 1.80 1,700
Open pit 0.60 - - - 375 1.89 22,800
24/27
UG Bulk 1.30 - - - 171 1.92 10,600
Sub-total Open pit 0.6 9,986 1.70 544,700 554 1.75 31,200
Sub-total UG Bulk 1.3 15,904 2.20 1,123,300 5,158 2.06 341,300
TOTAL 25,890 2.01 1,668,000 5,712 2.03 372,500
*Refer to press release dated July 28, 2020 37Colomac Cut-off Grade Sensitivity Table TSX: NHK
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Indicated Resources Inferred Resources
All Deposits, by mining method Cut-off (gpt Au) Grade Grade
Tonnes (000’s) Ounces Tonnes (000’s) Ounces
(gpt Au) (gpt Au)
>3.00 982 4.46 141,088 47 3.70 5,623
>2.00 2,573 3.20 264,927 197 2.69 17,024
>1.50 4,228 2.62 356,840 296 2.39 22,705
>1.30 5,206 2.39 400,709 334 2.27 24,445
>1.20 5,754 2.28 422,658 366 2.18 25,690
Open pit >1.00 7,112 2.06 470,517 432 2.02 28,030
>0.80 8,520 1.86 511,239 479 1.91 29,388
>0.70 9,368 1.77 531,730 528 1.80 30,562
>0.60 9,986 1.70 544,662 554 1.75 31,124
>0.50 10,650 1.62 556,348 596 1.66 31,873
3.00 2,275 4.44 324,877 534 4.47 76,937
>2.00 6,326 3.14 637,297 1,758 2.99 169,154
>1.50 11,814 2.48 940,467 3,661 2.33 274,285
>1.30 15,904 2.20 1,123,367 5,158 2.06 341,364
>1.20 18,656 2.06 1,233,798 6,048 1.94 377,103
Underground
>1.00 25,818 1.79 1,485,717 8,215 1.72 453,410
Bulk
>0.80 35,460 1.54 1,763,607 11,568 1.48 549,910
>0.70 41,076 1.44 1,898,769 13,709 1.36 601,018
>0.60 47,181 1.33 2,026,142 16,089 1.26 650,773
>0.50 53,694 1.24 2,141,106 18,664 1.16 696,225Colomac Gold Price Sensitivity Table TSX: NHK
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Indicated resource Inferred resource
Area (mining
Gold price (USD/oz) Deposit Cut-off (g/t)
method) Tonnage (T*1000) AU (g/t) Ounces Tonnage (T*1000) AU (g/t) Ounces
Open pit 0.65 6,419 1.81 373,954 103 1.58 5,223
Colomac
UG Bulk 1.4 13,238 2.36 1,003,142 4,015 2.21 285,620
Open pit 0.65 564 1.55 28,205 3 0.99 86
Goldcrest
UG Bulk 1.4 984 2.30 72,846 175 1.90 10,703
Open pit 0.65 633 1.62 33,075 7 2.02 439
Grizzly Bear
UG Bulk 1.4 166 2.02 10,772 26 1.88 1,548
$1,350 Open pit 0.65 - - - 351 1.93 21,820
24/27
UG Bulk 1.4 - - - 158 1.99 10,095
Sub-total 22,004 2.15 1,521,994 4,838 2.16 335,534
Damoti UG selective 2.1 - - - 710 5.09 116,016
TOTAL 22,004 2.15 1,521,994 5,548 2.53 451,550
Open pit 0.6 7,996 1.73 443,800 159 1.46 7,500
Colomac
UG Bulk 1.3 14,922 2.21 1,058,800 4,740 2.08 316,500
Open pit 0.6 1,362 1.56 68,100 8 1.00 300
Goldcrest
UG Bulk 1.3 780 2.08 52,200 217 1.79 12,500
Open pit 0.6 628 1.62 32,800 12 1.52 600
Grizzly Bear
UG Bulk 1.3 202 1.89 12,300 30 1.80 1,700
$1,425 Open pit 0.6 - - - 375 1.89 22,800
24/27
UG Bulk 1.3 - - - 171 1.92 10,600
Sub-total 25,890 2.01 1,668,000 5,712 2.03 372,500
Damoti UG selective 2.0 - - - 736 4.97 117,800
TOTAL 25,890 2.01 1,668,000 6,448 2.37 490,300
Open pit 0.6 8,937 1.72 493,101 190 1.38 8,468
Colomac
UG Bulk 1.2 17,044 2.06 1,126,776 5,546 1.96 348,858
Open pit 0.6 1,492 1.52 73,004 11 1.00 348
Goldcrest
UG Bulk 1.2 873 1.96 55,014 275 1.68 14,838
Open pit 0.6 641 1.61 33,220 16 1.38 700
Grizzly Bear
UG Bulk 1.2 235 1.80 13,600 39 1.67 2,100
$1,500 Open pit 0.6 - - - 397 1.85 23,584
24/27
UG Bulk 1.2 - - - 175 1.88 10,613
Sub-total 29,222 1.91 1,794,714 6,650 1.92 409,508
Damoti UG selective 1.9 - - - 763 4.87 119,500
TOTAL 29,222 1.91 1,794,714 7,413 2.22 529,008
Note: The reader is cautioned that the figures in this table are not a Mineral Resource Statement. The figures are only
presented to show the sensitivity of the block model estimates to the selection of gold price.
39Damoti Initial NI 43-101 Mineral Resource Estimate TSX: NHK
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Effective at July 28, 2020 (for an underground selective mining method scenario)
Inferred Resources
Mining Method Cut-off (gpt Au)
Tonnes Grade
Ounces
(000’s) (gpt Au)
UG selective 2.00 736 4.97 117,800
Cut-off Grade Sensitivity Table
Inferred Resources
Cut-off (g/t)
Tonnes (000’s) Grade (gpt Au) Ounces
>7.00 108 12.57 43,560
>5.00 216 9.20 63,988
>4.00 321 7.65 79,039
>3.00 498 6.17 98,771
>2.00 736 4.97 117,781
>1.00 1,097 3.82 134,581
>0.50 1,507 2.97 143,962Notes to the 2020 Colomac and Damoti MRE TSX: NHK
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1. The Independent and Qualified Persons for the Mineral Resource Estimate, as defined by NI 43-101, are Marina Lund P.Geo., and Carl Pelletier, P.Geo., both
from InnovExplo Inc., and the effective date is July 28, 2020.
2. These mineral resources are not mineral reserves, as they do not have demonstrated economic viability.
3. The mineral resource estimate follows current CIM definitions and guidelines for mineral resources.
4. The results presented are undiluted and are considered to have reasonable prospects of economic viability.
5. The estimates encompass six (6) gold deposits (Colomac Main, 24, 27, Goldcrest, Grizzly Bear, and Damoti), subdivided into 52 zones (6 for Colomac Main, 1 for
24, 1 for 27, 3 for Goldcrest, and 3 for Grizzly Bear, and 38 for Damoti) each defined by individual wireframes with a minimum true thickness of 3.0 m for the
Colomac Main, 24, 27, Goldcrest and Grizzly Bear deposits and a minimum true thickness of 2.0 m for the Damoti deposit, using the grade of the material when
assayed or a value of zero when not assayed. One (1) low grade envelope was create using the quartz diorite geological solid for the Colomac deposit and four
(4) low grade envelopes were created using the BIF geological solid for the Damoti deposit. The resource was estimated using GEOVIA GEMS 6.8.2.
6. High-grade capping supported by statistical analysis was done on raw assay data before compositing and established on a per-zone basis. Colomac Main
deposit: all zones were capped at 50 g/t, except for the low-grade 1.0 zone and the low-grade envelop which were capped at 15.00 g/t; 24 and 27 deposits: not
capped; Goldcrest and Grizzly Bear deposits: all zones were capped at 30.00 g/t; Damoti deposit: all high grade zones were capped at 100.00 g/t, except zones
2000, 2100 and 2200 capped at 45.00 g/t and zone 4300 capped at 40.00 g/t. The low-grade envelopes were capped at 20.00 g/t.
7. Grade interpolation was performed with the ID3 method on 1.5 m composites for the Colomac Main, Goldcrest and Grizzly Bear deposits, with the ID2 method
on 1.5 m composites for the 24 and 27 deposits and by Ordinary Kriging on 1.0 m composites for the Damoti deposit. The Colomac Main, 24 and 27, Goldcrest,
Grizzly Bear block models have block size of 5.0 m by 10.0 m by 10.0 m and the Damoti block model has block size of 3.0 m by 3.0 m by 3.0 m.
8. Bedrock was assigned a density value of 3.20 g/cm3 for the Damoti deposit and a value of 2.70 g/cm3 for the Colomac Main, 24. 27, Goldcrest and Grizzly Bear
deposits corresponding to the mean of SG measurements. A fixed density value of 2.00 g/cm3 was assigned to the overburden.
9. The Mineral Resource Estimate is classified as Indicated and Inferred. For the Colomac Main, 24 and 27, Goldcrest and Grizzly Bear deposits, the Inferred
category is defined with a minimum of two (2) drill holes within the areas where the drill spacing is less than 75 m and shows reasonable geological and grade
continuity. The Indicated mineral resource category is defined with a minimum of three (3) drill holes within the areas where the drill spacing is less than 50.0
m. For the Damoti deposit, the Inferred category is defined with a minimum of two (2) drill holes within the areas where the drill spacing is less than 60.0 m and
shows reasonable geological and grade continuity. Clipping boundaries were used for classification based on those criteria.
10. The Mineral Resource Estimate is locally pit-constrained using GEOVIA Whittle™ with a bedrock slope angle of 50° and an overburden slope angle of 30°. It is
reported at a rounded cut-off grade of 0.60 gpt Au (in pit), 1.30 gpt Au (bulk underground), and 2.00 gpt Au (selective underground). The cut-off grades were
calculated using the following parameters: mining cost = 4.79 to CA$ 65.00; processing cost = 22.50 to CA$ 25.00; G&A = 8.00 to CA$ 18.00; refining and selling
costs = CA$ 5.00; gold price = US$ 1,425.00/oz; US$:CA$ exchange rate = 1.33; and mill recovery = 97.0%. The cut-off grades should be re-evaluated in light of
future prevailing market conditions (metal prices, exchange rates, mining costs etc.).
11. The number of metric tonnes was rounded to the nearest thousand, following the recommendations in NI 43-101 and any discrepancies in the totals are due to
rounding effects. The metal contents are presented in troy ounces (tonnes x grade / 31.10348).
12. InnovExplo Inc. is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, or marketing issues, or any other relevant
issue not reported in the Technical Report, that could materially affect the Mineral Resource Estimate.
41Metallurgical Testwork Results TSX: NHK
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• No adverse materials detected
• Variation in rock hardness of all test samples is minimal indicating a relatively homogeneous host rock
• Cyanidation of ground rock increased gold recovery significantly up to 96.5% on the lower-grade and 98.0% on the
higher-grade.
• Although additional studies are required to fully validate these findings, early indications based on metallurgical results
received to-date suggest that a semi-autogenous grinding (“SAG”) ball mill grinding circuit followed by a gravity
concentrate leach, and a cyanide leach circuit on the resultant final ground product, represent a promising process
route for recovering gold from Colomac rock.
Gold Recovery, %
Column Column
Process Routes Heap Bottle Whole Ore Gravity +
Cyanidation Cyanidation Flotation Gravity
Roll Cyanidation Cyanidation
~107 days 206-213 days
Particle Size P 80 (µm) 12700 12700 12700 75 106 150 150 75 106 150 106
2019 MET-1 42.6 66.0 90.0 92.8 84.2 93.4 72.5 84.1 91.4 93.8
2019 MET-2 22.0 43.6 88.2 88.8 85.8 95.2 82.2 39.0 52.9 96.0
N.A
2019 MET-3 72.4 60.3 95.7 93.4 87.4 94.4 74.9 78.7 74.8 95.9
2019 MET-4 47.7 21.3 86.3 82.6 75.6 91.3 53.6 59.0 50.9 94.6
Average Colomac 2019 46.1 47.8 TBC 90.1 89.4 83.3 93.6 70.8 65.2 67.5 95.1
Colomac 2018 Sample 1 31.5 45.6 57.4 94.9 94.5 92.8 97.1 76.6 75.4 64.0 98.0
Colomac 2018 Sample 2 49.1 46.4 55.5 94.8 94.5 94.2 96.8 75.8 75.0 69.0 97.3
Colomac 2018 Sample 3 47.1 46.1 54.9 92.1 88.6 84.8 96.7 63.3 58.7 53.6 96.3
Goldcrest 2018 Sample 4 49.6 61.1 69.7 98.1 94.9 95.5 97.2 83.0 76.3 74.9 96.8
Average Colomac 2018 44.3 49.8 59.4 95.0 93.1 91.9 97.0 74.7 71.4 65.4 97.1
High Grade 2017 57.5 34.3 N.A 94.6 93.5 90.7 96.4 77.6 74.7 74.9 98.0
Master Composite 2016 81.8 N.A N.A 94.9 94.1 95.5 96.4 65.4 74.1 76.3 96.5
The master composite sample, having a head grade of 1.81 grams per tonne gold measured by fire assay, generated favourable recoveries for all
process options, including heap leaching, flotation, and gravity separation. On the higher grade material, head grades varied significantly between
the fire assay and screened metallic assays due to the nugget effect of gold within the deposit.
*Refer to press releases dated September 15, 2020.
42Heap Leach Opportunity – Preliminary Testwork TSX: NHK
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Initial testwork on cyanide heap leaching of minus 12,700 micron material reported
up to 81.8% gold recoveries, perhaps an option for lower grade material which
would otherwise be considered waste – Thus prompted additional testwork
Cyanide heap leach results show considerable variability between testing methods
and grade of material processed but fall within an expected performance range for
crushed material (recoveries between 31.5% up to 81.8% in all samples tested to-
date).
• Based on the findings of all test work to-date, gold recoveries using heap
leaching may be a viable process for low-grade material which would otherwise
be discarded as waste.
o Column leach tests performed to-date resulted in recoveries ranging from
21.3% to 66.0% (107 day run) and up to 69.7% (206 day run).
o Bottle roll leach tests performed to-date resulted in recoveries ranging from
22.0% to 81.8% (minus half (½) inch crushed material, 10 day run)
1. Standard testing to determine preliminary heap leach amenability, follow up testing required.
2. Low recovery after 107 days probably due to low cyanide (high grade sample). 1.3 kg/t Vs 4.06 kg/t for the bottle roll test.
3. Column leach time was extended after 107 days for the 2018 samples to study effect on recovery of longer leach times.
*Refer to press releases dated September 15, 2020
43A Growing, Multi-Million Ounce Deposit TSX: NHK
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85,178 metres of Historical Drilling
2013 Resource: 11,235 m of drilling in 2012, plus verification of historic holes
2018 Updated Resource: 44,600 m of drilling between 2013 up to the end of 2017
2019 EXPLORATION FOCUS AT
40,000
COLOMAC:
35,000 • Exploration for additional high-
2018 Updated grade zones
30,000 Resource
24.4% increase • Infill drilling in gap areas in the
over 2013 2.6Mozs current resource in preparation for
25,000
a future resource update
20,000 • Anticipated that with additional
2013 Resource drilling, next resource update will
15,000
2.1Mozs include indicated resources for
higher-grade Zones 1.5 and
10,000 possibly 3.5
5,000
• Updated Resource Estimate in
2020, will include approximately
50,000 metres of drilling
0
2013 2013 2014 2015 2016 2017 2018 2019 completed in 2018 and 2019
Colomac Main Goldcrest
44Zone 1.5 Drill Hole Density
LONG SECTION (looking west) TSX: NHK
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Higher grade intersections to-date
Drill Hole Assay Results
C14-06* 52.5 m @7.78 gpt Au
C15-04B 32.9 m @ 4.19 gpt Au
C15-06 22.50 m @5.03 gpt Au
C16-01 31.5 m @ 4.14 gpt Au
C16-03 52.07 m @7.72 gpt Au
C16-03B 72.65 m @5.58 gpt Au
C17-02B 33.45 m @ 2.40 gpt Au
C17-02C 24.3 m @ 4.19 gpt Au
C17-04B 24.3 m @ 4.48 gpt Au
C17-08 19.5 m @ 5.58 gpt Au
C17-08B 10.40 m @ 7.48 gpt Au
C17-12B 145.75 m @ 3.33 gpt Au
Including 21.65 m @ 5.53 gpt Au
C18-04 84.30 m @ 2.91 gpt Au
Including 24.55 m @ 5.05 gpt Au
C19-08 56.00 m @ 13.49 gpt Au
Including 30.50 m @ 22.12 gpt Au
C19-17 58.50 m @ 1.93 gpt Au
Including 27.25 m @ 2.88 gpt Au
Including 13.55 m @ 4.58 gpt Au
45
* See press release dated December 3, 20192019 Drilling at Zone 1.5 Extends Mineralization TSX: NHK
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Since its discovery in 2014 Zone
1.5 has been drilled to 300
metres in strike, to a vertical
depth of 660 metres, and a true
width of 30 to 60 metres in the
near surface, but upwards of
155 metres at depth.
2019 drilling is looking at
refining these dimensions,
particularly to depth where it is
largely open. Updated zone
dimensions will be determined
once the results from the
remainder of the 2019 drilling is
available.
* See press release dated September 5,, 2019 462019 Colomac Drilling - Zones 1.5 – 2.0 Boundary Fault TSX: NHK
OTCQX: MIMZF
• Drilling provided additional
evidence for the merger of high-
grade Zone 1.5 with the
northern part of Zone 2.0
• All holes intersected extensive
mineralization
• The panel of mineralization that
spans Zone 1.5 and 2.0 extends
upwards of 500 metres in strike,
to a depth of 600 metres, and
remains open in both
dimensions
• Drilling of the Colomac Main Sill
continues to document cohesive
zones of mineralization
uninterrupted to depth with
*see press release dated
relatively uniform distribution.
Oct/31/2019
47Zone 2.0 Highlighted Intercepts From 2019 Drilling TSX: NHK
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Drill Hole Assay Results Drill Hole Assay Results
C19-19 60.75 m @ 2.61 gpt Au C19-24 56.25 m @ 2.76 gpt Au
Including 7.75 m @ 6.85 gpt Au Including 13.00 m @ 3.51 gpt Au
Including 26.95 m @ 3.20 gpt Au Including 4.25 m @ 14.89 gpt Au
Including 8.15 m @ 5.16 gpt Au2019 Drilling Results – Zone 3.0 TSX: NHK
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New higher-grade domain at
Zone 3.0 traced for 125 metres
along strike to a depth of 250
metres and remains open
Selected Highlights from 2019 Drilling
Drill Hole Assay Results
C19-07 34.45 m @ 2.14 gpt Au
Including 10.95 m @ 3.90 gpt Au
Including 2.75m @ 8.17 gpt Au
C19-07B 35.10 @ 1.32 gpt Au
Including 13.25 m @ 2.33 gpt Au
Including 5.55m @ 4.43 gpt Au
* See press release dated May 28, 2019
49Colomac Zone 3.5 – 2018 Drilling TSX: NHK
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HIGHLIGHTS OF DRILLING:
• Confirmation of the steep northern
plunge to high-grade Zone 3.5;
• Zone appears to widen at depth to
upwards of 80.00 metres true width; and
• Mineralization remains open down
plunge, with resource expansion
potential to depth
Drill Hole Selected Results (gpt Au)
Hole C18-04 41.85 m @ 2.81 gpt
including 22.80 m @ 4.04 gpt
And 6.15 m @ 5.60 gpt
Hole C18-06 71.50 m @ 1.53 gpt
including 23.75 m @ 2.46 gpt
And 9.65 m @ 3.58 gpt
Hole C18-07 36.50 m @ 1.84 gpt
Drill Hole Assay Results (gpt Au) including 25.75 m @ 2.25 gpt
Hole C18-09 68.00 m @ 2.24 gpt And 16.75 m @2.55 gpt
including 32.00 m @ 3.59 gpt
And 6.40 m @ 5.70 gpt
50
*See press release dated Sept 11, 2018 50Leta Arm – Diversified Drilling TSX: NHK
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2018 Drill Program
• New gold zones discovered at Diversified
and Lexindin;
• Drilling continued to validate the northerly
steep plunging mineralization model as
being a common feature to the four Leta
Arm prospects.
Selected Highlights from 2018 Drilling
Drill Hole Assay Results
DV18-08 17.50 m (14.00 m true width) @5.81 gpt Au
Including 9.25 m @9.65 gpt Au
And 4.75 m @18.12 gpt Au
DV8-08B 7.75 m (5.00 m true width) @3.66 gpt Au
Including 5.50 m @5.05 gpt Au
And 2.50 m @10.65 gpt Au
DV18-06 14.10 m (7.00 m true width) @3.50 gpt Au
Including 6.65 m @6.67 gpt Au
And 2.35 m @18.50 gpt Au
DV18-07 11.75 m (9.50 m true width) @3.86 gpt Au
Including 8.00 m @5.34 gpt Au
And 4.25 m @8.07 gpt Au
51TSX: NHK
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