Drill Results Routine +

NEVADA KING DOUBLES PHASE 4 DRILL PROGRAM TO 40,000 METRES, PROVIDES ASSAY RESULTS FROM SILVER PARK, AND A PROJECT WIDE PERMITTING UPDATE

Nevada King Doubles Drill Scope After Centerra Backing, Grades Lag High-Grade Hopes

By The Northwire Desk — AI Analysis Apr 28, 2026 · 06:30 NKG · 0.235 Nevada King Gold Corp.

Executive Summary

Headline: NEVADA KING DOUBLES PHASE 4 DRILL PROGRAM TO 40,000 METRES, PROVIDES ASSAY RESULTS FROM SILVER PARK, AND A PROJECT WIDE PERMITTING UPDATE.
Date: April 28, 2026.
Core Announcement: The company has doubled its Phase 4 exploration drill program from the previously announced 20,000 metres to 40,000 metres of reverse circulation (RC) drilling.
Drill Results: New assay results from Silver Park East (SPE) show near-surface mineralization. Highlights include 0.30 g/t Au over 39.6m and 1.31 g/t Au over 1.5m. These grades are consistent with previous SPE releases but do not represent a significant grade breakout compared to earlier high-grade intercepts (e.g., Feb 2026: 0.93 g/t AuEq over 14.6m).
Permitting: BLM approval received for Western Rim Notice of Intent (NOI) enabling immediate drilling at 33 RC sites. Plan of Operations Modification 5 (PoO Mod 5) is underway to permit an additional 78 RC and 404 RAB drill sites across a 45km² area.
Context: This news follows the April 10, 2026 closing of a C$16.3 million financing (including a C$10.4 million strategic investment from Centerra Gold Inc.). The expanded program utilizes this fresh capital.

Material Impact

Capital Deployment: The doubling of the drill program confirms aggressive deployment of the April 2026 financing proceeds. While positive for exploration potential, it increases burn rate without a guaranteed return on investment until resource conversion occurs.
Grade Consistency: Assay results (e.g., 0.30 g/t Au over wide intervals) are consistent with previous oxide mineralization at Silver Park East but remain low-grade relative to economic thresholds for open-pit mining without significant tonnage. This does not materially alter the resource model compared to the February 2026 update.
Permitting Progress: BLM approval for Western Rim NOI is a positive operational milestone, reducing regulatory risk for that specific target area. However, PoO Mod 5 is still pending full approval, representing ongoing execution risk.
Market Expectation: The financing closed on April 10, 2026. This news (April 28) serves as an operational follow-up confirming the use of funds rather than introducing a new catalyst like a resource update or M&A. Therefore, it is categorized as Routine - Positive.

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Company Overview

Company: Nevada King Gold Corp. focuses on advancing the Atlanta Gold Mine Project in Lincoln County, southeast Nevada.
Flagship Asset: Atlanta Gold Mine Project (130km²). Past-producing oxide gold mine with current NI 43-101 compliant resource of 1.02 Moz Au (Measured & Indicated) and 99koz Au (Inferred).
Strategy: Regional exploration to grow the resource base through satellite targets (Silver Park, Atlanta South/North, Western Rim) and potential corporate actions like share consolidation.
Ownership: 100% owned by Nevada King.

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