Kingman Minerals talks sampling work at Mohave

Executive Summary

• Kingman Minerals Ltd. is preparing for drilling at its flagship Mohave project in Arizona, citing record gold prices and exceptional high-grade sampling results as catalysts for near-term value creation.
• Recent underground reconnaissance and sampling have confirmed bonanza-grade gold and silver intercepts, validating historic data and supporting plans to define a NI 43-101 compliant resource.
• The company aims to convert historic grades into modern resources through extensive exploration, including drilling, to expand known veins and identify parallel structures.

Key Details

• Project Overview: The Mohave project comprises 72 lode claims (1,467 acres/594 hectares) in Mohave County, Arizona, including the historic Rosebud mine.
• Historical Potential: Non-NI 43-101 historical data suggests potential for up to 664,000 ounces of gold and 2.6 million ounces of silver across multiple parallel vein structures.
• Underground Infrastructure: Historic workings include over 2,300 feet of drifts, raises, and crosscuts, along with a 400-foot shaft.
• Phase 1 Sampling Results:
  • Confirmed access to historic workings.
  • Standout result: 252 g/t Au and 341 g/t Ag over 0.46 m on the 100-foot level of the Rosebud mine.
• Phase 2 Sampling Results:
  • Expanded sampling on the 100-foot and 200-foot levels.
  • Standout result: 688 g/t Au and 468 g/t Ag over 0.18 m.
  • Standout result: 252 g/t Au and 341 g/t Ag over 0.46 m.
• Assay Laboratory: Samples sent to ALS Laboratories (method ME-GRA21).
• Future Plans: Kingman plans to conduct extensive exploration work, including drilling, to validate, expand, and define the resource according to modern standards.
• Technical Review: Technical information reviewed by Bradley C. Peek, MSc, CPG, Qualified Person.

Notable Quotes

• "We are excited to advance work at Mohave and bring clarity to a district with truly exceptional grade potential... Our underground sampling already underscores bonanza-grade zones in multiple places, and the updated mapping and digital modelling give us confidence in targeting these veins for drilling. With gold markets in a strong uptrend, we anticipate drilling to convert this potential into value for our shareholders." — Simon Studer, Interim CEO