K2 Drills 53.34m of 2.00 g/t Au at Dragonfly, Including High-Grade Oxide Core of 15.24m of 5.33 g/t Au

K2 Gold Corporation has released assay results from four additional reverse-circulation holes drilled from a new pad, DF-G, at the Dragonfly Zone of its Mojave Project. The DF-G pad is located 75 meters south-southwest of the 2020 discovery hole, DF20-002, which returned 45.72 meters at 6.68 grams per tonne gold, and 68 meters from the prior 2026 pad.

The reported intervals, all presented as drilled or apparent widths, are as follows:

• DF26-028 (110° azimuth, -50° dip, off-section): 53.34 meters at 2.00 grams per tonne gold from 70.10 meters, including 15.24 meters at 5.33 grams per tonne gold from 82.30 meters; plus 4.57 meters at 1.63 grams per tonne gold from 166.12 meters; plus upper intervals 13.72 meters at 0.33 grams per tonne and 4.57 meters at 2.11 grams per tonne
• DF26-025 (070°, -68°): 15.24 meters at 1.16 grams per tonne gold from 68.58 meters; 18.29 meters at 1.25 grams per tonne gold from 100.58 meters; upper 15.24 meters at 0.23 grams per tonne
• DF26-026 (070°, -50°): 38.10 meters at 1.29 grams per tonne gold from 50.29 meters, including 4.57 meters at 3.29 grams per tonne and 4.57 meters at 3.75 grams per tonne; plus 4.57 meters at 0.71 grams per tonne
• DF26-027 (070°, -84°): 6.10 meters at 2.07 grams per tonne gold from 60.96 meters; plus a 68.58-meter "alteration envelope" at 0.54 grams per tonne gold from 114.30 meters

According to the company, the results confirm four stacked west-dipping structures 75 meters south of the 2020 discovery in previously untested ground. The best single sample returned 12.3 grams per tonne gold, and the high-grade strike at Dragonfly has been extended to 160 meters. A total of 29 holes comprising 5,389 meters of a 14,000-meter program are now complete, with 18 holes pending assays. Drilling operations are now located at Newmont.

K2 Gold Corporation’s latest drilling results add a southern extension to its growing oxide gold system, confirm stacked structures at a third pad, and push high-grade intersections 75 meters into previously untested ground. While the findings marginally alter the company’s trajectory, they do not significantly change the scale, grade, or odds of the project.

The new results fall short of the embedded anchor established by the 2026 programme’s best result, DF26-020, reported on August 18, 2026. That earlier intercept returned 39.62 meters at 5.35 g/t gold, including 25.91 meters at 7.14 g/t gold. In comparison, the new best result measures 53.34 meters at 2.00 g/t gold, including an 81.2-meter high-grade core. This represents a 50% reduction in gram-meters (106.7 g·m vs. 212 g·m), a 37% decrease in headline grade, and a 44% reduction in high-grade core gram-meters (81.2 g·m vs. 185 g·m), though the interval length increased by 135%.

The stock’s recent price action reflects this context. On August 17, 2026, the share price was $0.84; following the August 18 release, it closed at $0.89, a 6% gain, before drifting to $0.85 by September 21.

As a pre-resource explorer, K2 Gold Corporation holds no NI 43-101 resource, Preliminary Economic Assessment (PEA), or metallurgical data beyond solubility ratios. At a market capitalization of approximately C$206 million and an enterprise value of roughly $175 million on $31 million in cash, the equity already prices in a substantial discovery. The current results grow the project’s footprint rather than its grade, partially clearing the bar required to justify the existing valuation.

K2 Gold Corporation (TSX-V: KTO, OTCQX: KTGDF, FSE: 23K) is a pre-revenue gold explorer headquartered in Vancouver, operating as part of the Discovery Group. The company’s management team includes backgrounds from Great Bear, Great Bear Royalties, Kaminak, and Northern Empire. Leadership consists of Executive Chairman John Robins, President & CEO Anthony Margarit, and VP Exploration and QP Eric Buitenhuis.

The company’s flagship asset is the Mojave Project in Inyo County, California, which covers more than 6,000 hectares of oxide gold and base-metal targets. The property includes the Dragonfly, Newmont, Central, Gold Valley, Flores, Stega, Soda Valley, and Morningstar trends, as well as the historic Cerro Gordo silver district. K2 Gold holds 100% ownership of the project. In early 2026, the company received a BLM Record of Decision authorizing up to 22 drill sites. A 14,000-meter drilling program is fully permitted and funded. To date, 29 holes totaling 5,389 meters have been completed, with 18 holes pending.

The Si2 Project is located in Esmeralda County, Nevada, on the Walker Lane Trend, featuring low-sulphidation epithermal gold targets. The 2026 program consists of eight holes totaling 3,871 meters. Assays returned no economic grades as of June 18, 2026. The company is currently seeking a joint venture partner for the project.

In the western Yukon, the Wels Project covers 7,200 hectares and features historic intercepts of 10.38 g/t over 6.0 meters and 3.53 g/t over 19.5 meters. The Wolf Project, also in the western Yukon, comprises 21,887 hectares across 1,044 claims staked in May 2026. The property contains a gold-in-soil anomaly greater than 10 kilometers. K2 Gold plans to restructure its Yukon assets into a wholly owned subsidiary.

As of March 2026, K2 Gold has 242,238,851 shares outstanding and 263.3 million fully diluted shares. The company has no debt and no warrants outstanding. Cash reserves were reported at $31.09 million as of June 30, 2026, though the release cites "over $27 million." The first half of 2026 saw a net loss of $5.33 million.