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November 26, 2014 --- Vol. 08, No. 48November 2014

Northwest Territories

GOLD – Nighthawk Gold Corp. Nov. 26 reported assay results from fifteen recently completed drill holes on its Indin Lake gold property in the Northwest Territories. Nine holes were drilled at Goldcrest as part of Nighthawk’s ongoing resource expansion program designed to extend known mineralized zones and to grow the previously reported inferred resource estimate. The remaining six holes undercut historical surface gold showings at Echo-Indin, one of several priority prospects within a short distance of Colomac. A total of 13,647 meters were drilled in the 2014 program of which 3,549 meters are reported herein (including this release, 11,617 total meters have been reported). Drilling at Goldcrest continued to intersect significant mineralization over large core lengths resulting in the extension of known gold zones; hole G14-09 intersected 40.00 meters of 2.52 grams per metric gold, including 5.20 meters of 7.82 g/t gold and 12.50 meters of 3.64 g/t gold, and hole G14-08B intersected 10.50 meters of 2.42 g/t gold, including 7.75 meters of 3.09 g/t gold. Highlights include: At Goldcrest, mineralization extended over 125 meters to the north of previously reported drilling; and at Echo-Indin, Nighthawk’s first drilling successfully intersects near-surface mineralization, hole E14-02B, intersected 3.50 meters of 9.00 g/t gold, including 2.50 meters of 12.51 g/t gold, and hole E14-03, intersected 7.00 meters of 2.77 g/t gold, including 3.00 meters of 3.92 g/t gold. Exploration in the 1940s reports on anomalous gold mineralization generated from overburden trenching, surface sampling, and limited diamond drilling. Historical drilling targeted quartz stock-works in gold mineralized shear zones that extend for several hundred meters within metavolcanic rocks. Gold occurrences are now thought to be related to the continuation of the Cass-Kim Deposit mineralized corridor that was offset by the Lex Fault. The resulting linear gold occurrences are referred to as the Echo-Indin showing (just north of the Lex Fault), the Goose Lake Showing (about 1 kilometer further north), and the Lucky Lake Showing yet further north. Recent field activities focused on locating historical drill setups, surface trenches, and confirming (and extending) the reported gold mineralized shear zones. Nighthawk’s results were very encouraging and included three surface samples of greater than 30 g/t gold, 13 greater than 4 g/t gold, and 22 greater than 1 g/t gold. Nighthawk’s 2014 drilling at Echo-Indin followed-up on field work results and successfully intersected near surface mineralization. Six holes undercut three historical surface gold showings, of which four holes intersected gold mineralized quartz veins within metabasalts. Overall, zones appear to be of limited width; however, two holes did report significant cuts. Hole E14-02B returned 3.5 meters of 9 g/t gold and hole E14-03 intersected 7 meters of 2.77 g/t gold. Echo-Indin is one of several near-surface prospects within a few kilometers of Nighthawk’s Colomac infrastructure and a potential candidate for higher grade supplemental feed.

DIAMONDS – Kennady Diamonds Inc. Nov. 26 reported that the newly constructed 50-person advanced exploration camp adjacent to the Kelvin kimberlite has been commissioned and mobilization for drilling has begun. Previous drilling was supported from Bob camp, which is approximately 20 kilometers (12.5 miles) west of the Kelvin-Faraday kimberlite corridor. Bob camp will continue to serve as a regional exploration camp for the company's 100 Kennady North diamond project located adjacent to the Gahcho Kué diamond mine currently under development by De Beers and Mountain Province Diamonds. Kennady Diamonds CEO Patrick Evans said, “Commissioning of the K2 advanced exploration camp enables us to conduct drilling for most of the year, which will accelerate delineation of the Kelvin and Faraday kimberlites. Drilling at the Kelvin kimberlite was suspended last month due to unfavorable weather conditions which limited our ability to safely service the drill rigs by helicopter from Bob camp.” About 16,600 meters has been drilled at the Kelvin kimberlite as part of the 2014 summer-fall drill program. Based on success to date, the company’s target has been increased to 18,000 meters. In addition, approximately 28.7 metric tons of kimberlite has so far been recovered from Kelvin and the Company has increased its target to 30 metric tons. “Exploration and delineation drilling has increased the strike of the Kelvin kimberlite to over 600 meters with the volume increasing on strike to the north. The drilling set to resume this week will continue to delineate the Kelvin kimberlite to the north-northeast in the direction of the Faraday kimberlite which is approximately 1 kilometer to the northeast,” explains Evans. Additionally, Kennady said about five metric tons of kimberlite from Kelvin is currently being processed by caustic fusion at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council. A further 24 metric tons of Kelvin kimberlite is being dispatched to the SRC within the next few days. Most of this mini-bulk sample will be processed through the dense media separation plant at the SRC. A small portion will be processed by caustic fusion to support development of diamond size frequency models for the north limb of the Kelvin kimberlite. Most of the diamond recovery results from these samples are expected by the end of the year.


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