Kingman Engages Burgex to Conduct Underground Sampling and Technical Reassessment at Rosebud Mine

• 2026-03-05: Kingman engages Burgex Mining Consultants to conduct underground sampling and metallurgical testwork at the Rosebud Mine within the Mohave Project in Arizona. The goal is to refine geological interpretation, reduce uncertainty around continuity and metallurgical response, and guide next-step exploration decisions. The program includes underground access, LiDAR survey, and metallurgical testing; Burgex mobilization anticipated around March 11, 2026.
• 2026-02-27: Kingman mobilizes Altar Drilling to begin Phase III diamond drilling (814.7 meters across four drill locations) to test along-strike continuity of the Southwick vein corridor beyond the Rosebud Mine, with three holes southeast of the Rosebud Mine and one to the northwest.
• 2026-02-18: ADWR approval received for Notice of Intention, enabling seven Phase III exploration holes at Mohave. Drilling expected to begin around Feb 25, 2026; Phase III targets continuity of the Southwick vein beyond the Rosebud Mine.
• 2026-02-13 and 2026-02-03: The company completes a 3D magnetic vector inversion (MVI) model for Mohave and engages drill contractor (Altar Drilling) for Phase III. Drilling plan comprises seven HQ holes (~815 meters) to test extensions of the Southwick vein corridor; mobilization contingent on water-use authorizations and permit timing.
• 2026-01-29 and 2026-01-29 (related items): Previous updates highlight a drone magnetic survey completed and permitting progress; a NI 43-101 framework was being advanced, and drill permitting and contractor engagement were in motion. The project remains fully funded to support planned phase activities.
• 2025-11-20 to 2025-11-05: Financing activity rounds in 2025 provided additional runway for Mohave exploration, including an upsized private placement of up to CAD 1.5 million and subsequent closings. Insider participation occurred in the first tranche; the financing is intended to fund exploration, including drilling, geophysics, geochemical sampling, permitting, and working capital.
• 2025-10-31 to 2025-09-02: Additional financing rounds and private placements continued, with budgets set for permitting and drilling at Mohave; 2% NSR on Mohave remains in place with potential repurchase by Mohave; debt and working-capital considerations noted as part of ongoing fundraising.

• The most recent news (2026-03-05 Burgex underground sampling) is an incremental exploration update rather than a resource/reserve update or an immediate financial uplift. It provides a structured plan to reduce geological and metallurgical uncertainty, enabling better decision-making for subsequent exploration steps. This is positive in that it strengthens the technical foundation for future drilling and potential value creation, but it is not a standalone material catalyst in terms of immediate resource discovery or commercial development.
• The preceding news (Phase III drilling and geophysical modeling) established a consistent, multi-step exploration program at Mohave with regulatory clearances (BLM, ADWR) and contractor mobilization. Taken together, the news flow supports a continuing, methodical build-out of the Mohave project’s exploration program, which is favorable for timing of future drill results and NI 43-101 updates.
• Financing activity in 2025-2026 underpins the ability to execute the exploration program; while dilutive effects from new equity and potential MI 61-101 considerations exist, the raised capital is aligned with funding exploration activities and permitting.

Rating rationale: Routine - Positive. The latest release advances exploration methods and data collection but does not deliver results or financing that would, on its own, be transformative. The ongoing sequence of permits, geophysical work, and planned drilling is a positive, orderly progression rather than a surprise or game-changing disclosure.

• Kingman Minerals Ltd. is a Canada-based junior explorer focused on the Mohave Project in Mohave County, Arizona, which includes the Rosebud Mine historic workings. The flagship project is described as an advanced exploration asset with visible high-grade potential in historic workings and nearby veins (e.g., Southwick vein corridor). The MoHAVE project operates within a district known for historic gold-silver production.
• Mohave Project components:
• Rosebud Mine (historic workings)
• Southwick vein corridor target area
• 2% Net Smelter Return (NSR) royalty on Mohave with potential repurchase by Mohave
• 3D Magnetic Vector Inversion (MVI) model guiding Phase III drilling
• Phase III drilling program to test along-strike extension beyond Rosebud Mine
• Underground sampling program (Rosebud Mine) to refine grade continuity and metallurgical response