Nevada King starts drilling Western Rim at Atlanta

Executive Summary

• Nevada King Gold Corp. has initiated drilling at the "Western Rim" target, a newly discovered, large multidirectional vein corridor located within its 100%-owned Atlanta gold mine project in Nevada.
• The Western Rim target spans 2.5 km by 1.5 km and exhibits strong epithermal-type alteration, with rock chip samples showing gold grades up to 20.8 g/t and significant arsenic, molybdenum, lead, zinc, and copper geochemical signatures.
• Phase III regional drilling has surpassed 25,000 meters of the planned 30,000 meters, with the Western Rim serving as the fourth priority target alongside previously released results from Silver Park, Atlanta South, and Atlanta North.

Key Details

• Drilling Status: Phase III regional drill program is 25,000 m complete out of 30,000 m planned. Drilling is continuing at the Western Rim target.
• Target Geometry: Western Rim is a 2.5 km north-northeast strike length corridor of multidirectional veins, covering a 2.5 km by 1.5 km area. It is the largest and one of the most prospective targets on the property.
• Geological Context: The target follows a district-scale normal fault and subsidiary quartz veins along the western rim of the Atlanta caldera. Host rocks include variably argillized-limonitized-hematized welded rhyodacite and dacite tuff.
• Assay Highlights: Rock chip samples from NNE- and NW-trending hematitic quartz veins show gold grades up to 20.8 grams per tonne.
• Geochemistry: Strong As-Mo-Pb-Zn-Cu signatures indicate a high-temperature hydrothermal system with a magmatic driver. High-crystallinity illite and ammonia-illite alteration are present, similar to past-producing Silver Park mine and Atlanta Resource zone (ARZ).
• Exploration Methodology: Utilization of modern hyperspectral technology (airborne and handheld spectrometers) to identify alteration minerals (illite, kaolinite, muscovite) and guide drill targeting under thin cover.
• Previous Exploration: Previous operator drilled two RC holes northeast of Western Rim encountering anomalous Au but ceased due to market conditions. Nevada King resumed exploration in 2024 with mapping, sampling, and CSAMT coverage.
• Other Targets: Company is waiting for additional assays from Silver Park, Atlanta South, and Atlanta North, all of which have encountered above cut-off grade mineralization.
• Resource Context: The Atlanta project hosts an NI 43-101 compliant pit-constrained oxide resource of 1.02 million ounces Au (measured/indicated) and 99,000 oz Au (inferred).

Notable Quotes

• Cal Herron, Exploration Manager: "The geological, geochemical and geophysical signature at the Western Rim point to a highly prospective region that covers a much broader footprint compared to the ARZ. It is particularly attractive given the close association of altered, rhyolitic intrusions with strongly anomalous Au-Ag-As-Mo mineralization."
• Cal Herron, Exploration Manager: "While exploration at the Western Rim is still at an early stage, the target exhibits all the hallmarks of a large, potentially significant gold system. The combination of alteration type, robust multielement geochemistry and strong multidirectional fault/vein patterns are indicative of favourable structural preparation..."
• Cal Herron, Exploration Manager: "We're very excited to begin drilling this target, as it represents one of the most compelling opportunities to expand the known gold potential within the greater Atlanta district."