NEVADA KING ANNOUNCES FULLY FUNDED 20,000M, PHASE 4 EXPLORATION PROGRAM DESIGNED TO ADVANCE MULTIPLE REGIONAL TARGETS IDENTIFIED IN PHASE 3

Nevada King announced the launch of its fully-funded Phase 4 regional exploration program at its 100% owned Atlanta Gold Mine Project. The program will consist of an initial 20,000 meters of drilling. It is designed to advance multiple regional targets identified during the recently completed 30,000-meter Phase 3 program, including Silver Park East, Atlanta South, Atlanta North, and the Western Rim. The company's stated goal is to define new oxide mineralization, test structural controls, and advance these targets toward resource definition, building on the discovery of a new mineralized zone at Silver Park East.

This announcement of a fully-funded 20,000-meter drill program is a material positive development. It confirms the company is capitalized to execute its exploration strategy and provides clear operational guidance for the next 3-6 months. This follows the logical progression of work from the prior Phase 3 program and builds on promising results at regional targets.

Reviewing the historical news provides critical context: - April 2025 Financing: The company raised $11.5M at $0.25 per share. This was crucial for funding subsequent exploration, and strong participation from insiders demonstrated confidence. - June 2025 Resource Update: This was a pivotal event. While the company successfully more than doubled its Measured & Indicated resource to over 1 million ounces of gold, the market reaction was extremely negative. The stock sold off from $0.22 to $0.14 on massive volume in the days following the announcement. This suggests the update, which saw the average M&I grade drop from 1.30 g/t to 1.14 g/t, fell short of market expectations and created a significant sentiment overhang that persists. - July-November 2025 Exploration: Throughout this period, the company executed its Phase 3 program, systematically testing regional targets. News releases confirmed hitting mineralization at Silver Park, Atlanta South, and the Western Rim, validating the exploration concept of finding satellite deposits. However, the reported grades have generally been low-grade, which may not be sufficient to excite the market. - Management & Corporate (Aug-Oct 2025): The company underwent a management shuffle, bringing in a new CEO and CFO, and graduated to Tier 1 on the TSX-V. These are constructive, long-term steps but have not impacted the stock price.

The latest news of the Phase 4 program is positive in isolation as it demonstrates operational continuity and financial health. However, given the severe negative market reaction to the resource update in June, the company is under immense pressure to deliver high-impact drill results from this new program. Simply executing the program and reporting more low-grade intercepts is unlikely to reverse the negative stock trend. The news confirms the company's plan, but the market's confidence in that plan remains questionable.

Nevada King Gold Corp. is a gold exploration company focused on its 100%-owned Atlanta Gold Mine Project, a past-producing mine located on the Battle Mountain trend in Nevada. The project covers a large 130 km² land package. In June 2025, the company announced an updated NI 43-101 compliant pit-constrained oxide resource estimate of 1,019,600 ounces of gold in the Measured & Indicated category (27.7M tonnes at 1.14 g/t Au) and 98,500 ounces of gold in the Inferred category (3.6M tonnes at 0.84 g/t Au). The company's current strategy involves expanding this resource and making new satellite discoveries across the district.