NEVADA KING RECEIVES BLM APPROVAL FOR 482 ADDITIONAL DRILL SITES, ADDS THIRD DRILL RIG TO ACCELERATE FULLY FUNDED 40,000M DRILL PROGRAM

Nevada King Gold Corp. has secured Bureau of Land Management (BLM) approval for "PoO Mod 5," a modification to its Plan of Operations that adds 482 new drill sites to the Atlanta Gold Mine Project in eastern Nevada. The approved sites consist of 78 reverse circulation (RC) locations and 404 rotary air blast (RAB) locations. This approval increases the project’s total disturbance area by 21.1 acres, bringing the cumulative footprint to 73.4 acres.

The company is accelerating its fully funded 40,000-meter Phase 4 drill program by mobilizing a third drill rig, an additional RC unit. Nevada King Gold now operates two RC rigs running continuously on two 12-hour shifts, alongside one RAB rig. Approximately 12,000 meters of the program have been completed to date. The new drill sites are primarily clustered in the Atlanta South, Silver Park, and Western Rim target areas.

The BLM completed its review of the fifth consecutive modification to the Plan of Operations in two months following formal submission. The company holds approximately C$18.1 million in cash and equivalents, providing the financial capacity to complete the program. The RAB drilling method is utilized for rapid, low-cost testing of overburden and bedrock to identify mineralization and tracer elements, while RC drilling is employed to test targets identified through prior work with the goal of intercepting economic mineralization.

The Atlanta Gold Mine Project hosts an NI 43-101 compliant pit-constrained oxide resource of 1,020koz Au (measured and indicated) and an inferred resource of 99koz Au, based on US$2,200/oz Au and US$25/oz Ag.

Nevada King Gold Corp. (NKG) received regulatory approval on July 16 for PoO Mod 5, a development that follows the company’s April 2026 announcement regarding the application. The approved permit covers plans to add 78 RC and 404 RAB sites across a 45km² area. This approval aligns with management's stated permitting timeline and addresses a regulatory bottleneck, allowing for immediate drilling at the newly permitted sites.

The company had previously indicated its intention to add a third rig to accelerate its fully funded program, a move the market anticipated. The additional rig is intended to speed up the Phase 4 program, which is critical for converting the 1.02 moz M&I resource and defining the Silver Park East satellite target.

Nevada King Gold Corp. maintains a fully funded status with C$18.1M in cash, a position that mitigates near-term dilution risk. The company remains in a pre-revenue stage, and the current news does not introduce new geological data, change the project's status, or alter its capital structure.

Nevada King Gold Corp. is a pre-revenue exploration company focused on the 100%-owned Atlanta Gold Mine Project in Lincoln County, Nevada. The property spans 130 km² and sits on the rim of the Atlanta Caldera. It is a past-producing mine with historical underground and surface mining from 1905–1966, and open-pit production from 1975–1985. The company is currently in an advanced exploration and pre-development stage, having drilled over 130,000 meters since 2021.

The project hosts an NI 43-101 compliant pit-constrained oxide resource of 1,020 koz Au (measured and indicated) at 1.14 g/t Au, plus 99 koz Au (inferred). Metallurgical testing confirms strong oxide recoveries (~90% for non-silicified volcanics) using conventional heap leaching and milling, supporting a simplified, lower-cost processing flowsheet.