K2 Gold to begin drilling at Si2

Executive Summary

• K2 Gold Corp. announces the commencement of a new drilling program at its Si2 project in Nevada, scheduled to begin on or about January 21, 2026.
• The program aims to test high-priority structural and geochemical targets at greater depths, specifically targeting the interpreted optimal boiling-zone horizon of a low-sulphidation epithermal gold system.
• The initiative is fully financed and will consist of up to 2,000 metres over four to six reverse circulation drill holes, based on 2025 geological studies and geophysical data indicating preserved mineralization.

Key Details

• Drilling Schedule: Commencement expected on or about January 21, 2026.
• Program Scope: Up to 2,000 metres over four to six drill holes.
• Drill Method: Reverse circulation (RC).
• Target: The interpreted optimal boiling-zone horizon of a low-sulphidation epithermal system, located at depth beneath shallow alteration.
• Previous Context (2023): Previous drilling at Si2 demonstrated increasing gold values with depth but terminated in subeconomic grades; subsequent studies indicated these holes were 50–100 metres above the interpreted boiling zone.
• Geological Analogue: The Si2 project shares characteristics with AngloGold Ashanti’s nearby Silicon project (now Arthur gold project), which holds a resource of 3.40 million ounces indicated and 12.91 million ounces inferred.
• Technical Findings (2025 Studies):
  • Fluid Inclusions: Analysis of six core samples revealed low-salinity aqueous fluids trapped at temperatures of 130°C to 200°C. No evidence of significant boiling was observed, supporting the interpretation that the productive zone lies below the previously drilled interval.
  • Alteration Mineralogy: 108 spectral analyses from 95 drill core samples delineated a classic vertically zoned epithermal system, transitioning from steam-heated alunite/kaolinite at surface to higher-temperature assemblages (smectite to illite-chlorite).
  • Structural Targets: The AOI1.5 fault hosts a ~6-metre-thick silicified and quartz-veined interval at 200 metres depth with adjacent anomalous gold, identified as a strong target for follow-up drilling.
• Qualified Person: Eric Buitenhuis, MSc, PGeo, K2’s Vice President of Exploration.

Notable Quotes

• "Based on new results and interpretations, Si2 is now a highly compelling project, from a technical perspective... The fluid-inclusion work was a true turning point -- it told us unequivocally that the system is intact, preserved and that K2's 2023 drilling came close but was not deep enough to test the boiling zone -- the critical horizon where significant amounts of gold can be deposited in similar systems." — Anthony Margarit, President and CEO.
• "When you combine that with our newly completed alteration studies, age dating, geophysical information and the striking similarities to AngloGold Ashanti's Silicon discovery, we believe we are about to drill one of the most exciting new epithermal targets in the Walker Lane." — Anthony Margarit, President and CEO.