K2 Gold completes 2026 RC drilling at Si2

Executive Summary

• K2 Gold Corp. has completed its 2026 reverse circulation (RC) drill program at the Si2 gold project in Nevada, consisting of eight holes totaling 3,871 metres across five target areas.
• The program represents the first drilling at AOI3, AOI4, and AOI5, expanding exploration beyond previously drilled southern targets.
• All holes intersected extensive low-sulphidation epithermal alteration, quartz veining, and silica-healed brecciation, indicating a favourable geological setting for gold mineralization; assay results are currently pending.

Key Details

• Program Scope: 8 drill holes totaling 3,871 metres of RC drilling.
• Target Areas Tested:
  • AOI1 & AOI2 (Southern Rhyolite Dome): 4 holes completed (1,853 metres). Aimed to test targets within and below the boiling zone beneath 2023 drilling. Intersected illite-pyrite-silica alteration, quartz-sulphide veins, fault gouge, and hydrothermally altered volcanic breccias.
  • AOI3: 1 hole (475.49 metres). First drill test of a large zone of steam-heated alteration and anomalous mercury geochemistry. Intersected illite-pyrite-silica altered dacite and rhyolite with quartz veins.
  • AOI4: 1 hole (537.97 metres). Tested downdip extension of a strong steam-heated alteration zone. Intersected a ~25-metre thickness of quartz vein followed by strongly altered rhyolite.
  • AOI5: 2 holes (1,004.32 metres). Targeted steeply west-dipping breccias and veinlets. Intersected hydrothermal silica-cemented breccia and strong illite-pyrite-silica alteration with adularia flooding.
• Geological Findings: All holes showed extensive low-sulphidation epithermal alteration, quartz veining, or silica-healed brecciation. The lithologies and textures intercepted are described as encouraging for gold (plus or minus silver) mineralization.
• Strategic Context: The drilling model was inspired by AngloGold Ashanti’s Arthur project (previously Silicon). The program targeted the "boiling zone" of the epithermal system, which may host higher-grade mineralization at depth compared to previous upper-level drilling.
• Next Steps: Samples submitted for laboratory analysis; results expected in the coming weeks. Interpretation will guide future exploration.

Notable Quotes

• "The completion of our 2026 drill program marks an exciting advancement in the evolution of testing the Si2 epithermal system, which we have verified from previous drilling to be a gold-bearing system... The model held up extremely well in all holes drilled, the lithologies and textures intercepted are very encouraging, and we look forward to receiving the assay results." — Anthony Margarit, President and CEO