Nevada King Gold begins phase 4 exploration at Atlanta

Executive Summary

• Nevada King Gold Corp. has launched its fully funded Phase 4 regional exploration program at its 100%-owned Atlanta gold mine project in eastern Nevada, following the successful completion of a 30,000-metre Phase 3 drilling campaign.
• The Phase 4 program consists of 20,000 metres of drilling designed to advance multiple regional targets, with a primary focus on defining the scale of the new Silver Park East satellite deposit and testing gaps at Atlanta North, Atlanta South, and Western Rim.
• The company is applying for a fifth modification to its plan of operations to expand access to the Western Rim target area, while continuing to utilize AI-integrated geoscientific data to prioritize high-probability targets.

Key Details

• Program Scope: Fully funded Phase 4 program comprising 20,000 metres of reverse circulation (RC) drilling.
• Target Allocation:
  • Silver Park East: 5,000 metres allocated to tighten spacing across the current 450m x 300m mineralized footprint, test a 270-metre gap to the southeast, and evaluate potential resource conversion.
  • Atlanta South, Atlanta North, and Western Rim: 15,000 metres allocated across these targets, with specific metreage determined by drill results.
• Drill Rig Deployment: Two RC drills are currently on site at Silver Park East and Atlanta South; sequencing will move to Atlanta North, followed by Western Rim.
• Regulatory Actions: The company is applying for its fifth modification to its plan of operations to expand access to the Western Rim target area to the west.
• Silver Park East Details: Located ~2km west of the Atlanta Resource Zone (ARZ); mineralization shares the same unconformity and host rocks as the ARZ. Phase 4 aims to define the zone, test crosscutting structures for higher grades, and expand drilling south and east.
• Atlanta South Details: Located ~2km south of the ARZ; targets the West Atlanta fault corridor. Phase 3 identified mineralization in Pogonip limestone with the highest arsenic values measured on the property, suggesting a Carlin-type deposit.
• Atlanta North Details: Extends ~4km north from the ARZ along the West Atlanta fault. Phase 4 will test a ~3km gap between a hole grading 0.28 g/t Au over 36.6m and a historical hole returning 0.88 g/t Au over 10.7m.
• Western Rim Details: Early-stage target with multidirectional quartz veins hosting gold-silver-arsenic-molybdenum mineralization traced over ~2.5km. Rock-chip sampling returned grades up to 20.8 g/t Au. Additional geophysical surveys will precede drilling.
• Resource Context: The Atlanta project currently hosts an NI 43-101 compliant pit-constrained oxide resource of 1.02 million ounces gold (measured and indicated) and an inferred resource of 99,000 ounces gold.
• Technology: Integration of CSAMT, drone magnetics, gravity, hyperspectral, geochemistry, and rock sampling data via machine-learning analysis to generate an internally ranked pipeline of targets.
• QA/QC Protocols: Samples split on-site (nominal 2kg weight); CRF standards/blanks/duplicates inserted at 1-in-20 basis. Assays performed at American Assay Lab using lead fire assay with OES finish (detection limit 0.003 ppm) and gravimetric finish for >10 ppm. Cyanide leach testing included for all samples.

Notable Quotes

• John Sclodnick, CEO: "Phase 3 drilling has demonstrated tremendous exploration upside across our 130-square-kilometre Atlanta land package... we've discovered a new mineralized zone at Silver Park East, two kilometres from the existing resource, where phase 4 drilling will aim to define the overall scale of this potential satellite oxide deposit. This is a major milestone that validates both the strength of the mineral system and the effectiveness of our targeting approach."
• Justin Daley, VP Exploration: "Phase 3 provided critical geological and structural data from across the broader caldera system, validating our regional targeting models outside the main Atlanta resource zone. Our systematic, data-driven approach will significantly advance our pipeline of high-priority targets and phase 4 is specifically designed to vector toward higher-grade domains, to fast-track resource conversion and unlock the full, district-scale potential of the Atlanta land package."