Kingman Minerals Prepares for Drilling at High-Grade Mohave Project amid Record Gold Prices

The most recent news, dated November 5, 2025, announces that Kingman Minerals is preparing for a drilling program at its flagship Mohave Project in Arizona. The company has completed underground reconnaissance, mapping, and sampling at the historic Rosebud Mine on the property. This work has returned several high-grade gold samples, including 688 g/t Au over 0.18m, 109 g/t Au over 0.15m, and 70.5 g/t Au over 0.28m. The CEO, Simon Studer, stated that the company anticipates drilling will convert the project's potential into value for shareholders.

The news is a routine, positive operational update that follows the company's recent financings. After successfully raising C$1.5 million in late October 2025 for exploration and drilling at the Mohave project, this update confirms that the company is proceeding with its stated plan.

• Positive Aspects: The reported sampling results are exceptionally high-grade ("bonanza grade") and confirm the presence of high-grade gold mineralization within the historic mine workings. This provides encouragement for the upcoming drill program.

• Neutral/Negative Aspects:

  • The results are from selective underground channel samples, not drill core intercepts. Such samples are often taken from the most visually mineralized parts of a vein and are not representative of the overall size, grade, or continuity of the mineralized system. The release includes necessary disclaimers that historical data is non-NI 43-101 compliant.
  • The announcement is about preparing for drilling. It does not state that permits have been granted or that a drill rig is on site. This is a preliminary step, and the key catalyst—drilling commencement and results—is yet to occur.
  • The market's reaction appears muted. The stock price has declined from C$0.12 to C$0.10 following the close of the financing and in the days leading up to this news, suggesting the market is waiting for more substantial results.

In the context of the historical news, the company has successfully transitioned from a dire financial state (as evidenced by the May 30, 2025 financials) to being fully funded for its next exploration phase. This news is an expected and necessary step, but it does not materially de-risk the project. The primary exploration risk remains until drilling is completed and assays are returned.

Kingman Minerals Ltd. is a Canadian junior mineral exploration company focused on precious metals. Its flagship asset is the 100%-owned Mohave Project, located in Mohave County, Arizona, USA. The project includes the past-producing Rosebud Mine, which has historical workings. The company is exploring for high-grade epithermal gold and silver mineralization. The property is subject to a 2% Net Smelter Return (NSR) royalty, which the company has the option to repurchase.