NEVADA KING SECURES FOURTH DRILL RIG TO ATLANTA, PROVIDES EXPLORATION DRILLING UPDATE
Nevada King advances its Atlanta drill program while facing ongoing concerns regarding its cash runway.
Nevada King Gold Corp. has added a fourth drill rig to its fleet, which now consists of two reverse circulation (RC) and two rotary air blast (RAB) rigs, to accelerate Phase 4 exploration at the Atlanta Gold Mine Project. Approximately 20,000 metres of the planned 40,000-metre Phase 4 RC program have been completed.
The company identified a new target, the "Splay Zone," located immediately north and east of the Atlanta pit. This zone is interpreted as part of the same mineralizing system as the existing resource and the East Ridge Target. Geological reinterpretation suggests that the Splay Zone, East Ridge, and Atlanta Resource Zone are parts of a single system offset around an uplifted fault block.
At Atlanta South, road construction is complete, allowing RC drilling to commence on the largely untested target. Results from the East Ridge RAB program included 4.68 g/t Au over 7.3m and 1.00 g/t Au over 26.8m, with holes bottoming in mineralization.
QA/QC protocols remain consistent with previous releases, utilizing the American Assay Lab in Reno, Nevada.
Nevada King Gold Corp. (NKG) confirmed that its fully funded Phase 4 exploration program is progressing on schedule, reaching 50% completion. The update highlights the validation of the company’s structural model and expansion potential through new targets identified at the Splay Zone, East Ridge, and Atlanta South.
The exploration initiative remains fully financed by the April 2026 private placement, with no new capital raised. This incremental update aligns with previously announced exploration plans, reinforcing the company's technical progress without altering its fundamental thesis or valuation.
Nevada King Gold Corp. is an advanced exploration and pre-development company focused on the 100%-owned Atlanta Gold Mine Project in eastern Nevada. The project spans 130 km² and sits on the rim of the 6 km wide Atlanta Caldera. Historical production included underground and small-scale mining from 1905 to 1966, as well as open-pit production from 1975 to 1985, yielding 110,000 oz Au and 800,000 oz Ag.
The company currently holds a NI 43-101 compliant resource of 1,020 koz Au in Measured and Indicated categories, comprising 27.7M tonnes at 1.14 g/t, plus 99 koz Au Inferred. Metallurgical testing confirms strong oxide recoveries, supporting a simplified flowsheet with heap leaching for non-silicified volcanics and two-stage crushing for mill material. The company is currently in the Phase 4 regional exploration phase, targeting district-scale expansion.