NEVADA KING TO EFFECT SHARE CONSOLIDATION

• Share Consolidation: Nevada King Gold Corp. approved a 1-for-5 share consolidation effective May 7, 2026.
• Capital Structure Optimization: The move reduces outstanding shares from approximately 501.8 million to ~100.4 million to remove barriers for institutional investors who typically avoid sub-C$1.00 stocks.
• Contextual Drivers: The consolidation follows the April 2026 closing of a C$16.3 million financing and the doubling of the Phase 4 drill program to 40,000 metres announced on April 28, 2026.
• Administrative Details: New ISIN (CA64135V2049) and CUSIP issued. Fractional shares rounded down or up based on standard thresholds. Stock options adjusted proportionately.
• Management Commentary: CEO John Sclodnick states this is a "key step in Nevada King's evolution to a more institutional capital structure," aiming to improve long-term shareholder value creation by aligning share price with institutional mandates.

• Intrinsic Value: The consolidation itself creates no intrinsic value; it is a mechanical adjustment of the equity structure. However, it facilitates future liquidity and access to larger capital pools that may have been restricted by the low pre-consolidation share price (C$0.26).
• Market Perception: Following the significant strategic investment from Centerra Gold Inc. (9.9% stake) in April 2026, this consolidation signals management's commitment to maintaining a robust capital structure for future growth phases. It validates the previous financing round as part of a broader strategic plan rather than a one-off emergency raise.
• Price Action: The effective price post-consolidation will be approximately C$1.30 (5x current price). This moves the stock into a more standard trading range for TSX Venture Tier 1 issuers, potentially reducing volatility associated with penny-stock classifications.
• Risk Mitigation: By consolidating shares, the company reduces the risk of future dilution from small-scale financings that might otherwise be required to maintain liquidity at lower price points. It aligns the share count with the C$16.3M cash position raised in April.

• Company: Nevada King Gold Corp. (TSX-V: NKG).
• Flagship Project: Atlanta Gold Mine Project, Lincoln County, southeast Nevada.
• Project Status: Past-producing mine currently in exploration/development phase. 100% owned property covering 130km².
• Resource Base: NI 43-101 compliant resource of 1,020 koz Au (Measured & Indicated) at 1.14 g/t Au plus 99 koz Au Inferred.
• Metallurgy: Phase 2 testing confirms strong oxide recoveries (~90% for non-silicified volcanics), supporting a simplified heap leach/mill flowsheet.
• Exploration Targets: Silver Park East (advanced satellite target), Western Rim (early-stage vein system), Atlanta South, and Atlanta North.