K2 Gold receives $2.78-million from warrant exercise

Executive Summary

• K2 Gold Corp. exercised 9,299,000 share purchase warrants at $0.30 each, generating a cash infusion of $2,789,700.
• The proceeds fully fund the upcoming drill program at the 100% owned Mojave project in California, pending permit receipt.
• Insider participation in the warrant exercise underscores strong confidence in the project's upside potential.

Key Details

• Warrant Exercise: 9,299,000 warrants exercised (exercise price $0.30, expiry Aug 15 2025).
• Cash Proceeds: $2,789,700 deposited into K2 Gold’s treasury.
• Funding Purpose: To finance the next phase of drilling at the Mojave project once permits are secured.
• Insider Participation: A notable portion of exercised warrants were purchased by company insiders, indicating confidence in project value.
• Mojave Project Highlights:
• Dragonfly zone historic intercept: 86.9 m @ 4.0 g/t Au (including 45.7 m @ 6.7 g/t Au) from hole DF20‑002.
• Prior drilling program delivered 6.68 g/t Au over 45.72 m from surface at Dragonfly and 1.69 g/t Au over 41.15 m at Newmont zone.
• Future Drilling: Planned systematic expansion of previous successful drill campaigns across high‑priority targets (Dragonfly, Flores, Gold Valley, etc.).
• Regulatory Compliance: Technical information reviewed and approved by Eric Buitenhuis, MSc, PGeo, K2’s Qualified Person and Vice‑President of Exploration, in accordance with NI 43‑101.

Notable Quotes

“The strong support we've received from K2's shareholders, including company insiders, speaks volumes about the exceptional potential of the Mojave project,” said Anthony Margarit, President and CEO.
“This financing ensures we are well funded to commence drilling upon the successful receipt of the permit at Mojave, unlocking the value of one of the most exciting gold exploration projects in the Western United States.”