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by Stockwatch Business Reporter

New York spot gold fell $0.80 to $1,131.30 on Wednesday. The TSX Venture Exchange gained 1.62 points to 718.49 while the TSX Gold Index slipped 0.04 point to 176.94. Tahoe Resources Inc. (THO) led Canadian gold miners higher, posting a 25-cent gain to $11.75 on 1.54 million shares. Yesterday's top gainer, Richmont Mines Inc. (RIC), led today's decline. It lost 44 cents to $7.57 on 604,000 shares.

Dr. Michael Byron's Nighthawk Gold Corp. (NHK), down 5.5 cents to 36.5 cents on 449,000 shares, has received assays of up to 2.16 grams of gold per tonne over 26.05 metres from Zone 3.0 at its Colomac gold deposit at Indin Lake in the Northwest Territories. The assays are from the last nine holes drilled this year and all but two of them yielded gold. Dr. Byron, president and chief executive officer, says that the "consistent positive results" strengthen his belief that Colomac will continue to deliver numerous opportunities for expansion of known high-grade zones, leading to overall resource growth. He is particularly pleased that the new Zone 3.0 results extend the deposit northward toward the less defined Zone 2.5.

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