Nevada King Gold Corp. (TSX-V: NKG) (OTCQX: NKGFF) is pleased to announce results from 18 vertical, reverse circulation holes and one vertical, diamond core hole. This drilling was part of the recently completed Phase II drill program at its 12,000 hectare (120km²), 100% owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada. These holes were collared in the northern portion of the Atlantaresource zone and aimed at connecting pit mineralization to the North Extension Target and better defining the well-mineralized horizon found within the West Atlanta Graben Zone.

Highlights:

• AT23WS-53 returned 2.72g/t Au over 64m including a high-grade zone of 4.29g/t Au over 29m and is located on the east side of the West Atlanta Fault #1 (“WAF1“) (see Figure 2, Section 22-16N(3)). The hole bottomed in mineralization and was sited to infill a gap along the section and check the high-grade result in nearby AT23WS-45 (3.52g/t Au over 61mincluding 7.55g/t Au over 10.7m).
• AT24WS-67 (1.56 g/t Au over 82.3m, bottoming in mineralization) and AT24WS-70 (1.44 g/t Au over 67.1m, including 4.05 g/t Au over 6.1m) seen along Section 22-19N (Figure 5) are located approximately 350m north-northwest of the Atlanta Pit in an area devoid of historical drilling. These holes represent the northernmost drilling within the mine area and extend the pit-proximal mineralization northward into the southern margin of the NET. These two holes also show an abrupt westward increase in grade and thickness when compared to historical holes in this area and demonstrate that mineralization continues westward. A further westward step-out with AT24WS-79 returned 1.82 g/t over 36.6m, although the hole was prematurely lost in high-grade mineralization, so the actual grade and thickness of this particular fault block currently remains to be confirmed by further drilling.
• NET holes AT24NS-194 and AT24NS-193 (released August 19, 2024), which respectively intercepted 1.29 g/t over 50.3m and 2.08 g/t Au over 42.7m, are located only 85m northwest of AT24WS-70. Gold distribution in holes along Section 22-19N indicates the highest grades occur proximal to the West Atlanta Fault #1 which continues northward into the NET where it also localized higher grades.

Cal Herron, Exploration Manager of Nevada King, stated, “Nevada King’s exploration drilling along sections 16-19 reveal the existence of substantially thicker and higher-grade mineralization within this portion of the target zone than previously recognized. The impetus behind our decision to drill-test this area was based simply on following mineralization northward along high-angle structures that had been identified within the WAGZ soon after we initiated the Phase II program in early 2022. As a result of our WAGZ drilling, two major take-aways became obvious: 1) the entire mineralized zone, particularly the high-grade zone at the lower Tertiary-Paleozoic unconformity, must be completely penetrated and successfully sampled, otherwise average gold grade for the mineralized intercept will generally drop significantly, and 2) adequate drill-definition of high-grade zones is required to ensure identifying the numerous high-grade structures throughout the Atlanta system.

“As the Company now embarks on its Phase III regional drill exploration program at Atlanta, the same two take-aways apply as we endeavor to test priority drill targets around the Atlanta Caldera’s outer ring-fracture zone. With detailed geological and geochemical models in hand for the Atlanta Resource Zone and vicinity, we know what indications will allow us to vector in on another deposit. We use litho-geochemistry to identify prospective host rocks, and at the same time rely on Au pathfinder geochemistry to determine whether we are dealing with the right type of hydrothermal environment and how far away we may be from significant mineralization. The Atlanta resource is in large part controlled by the Tertiary-Paleozoic unconformity, and we know from several deep historical holes drilled west of the resource zone that Au mineralization occurs along this same unconformity over a very large area. We are now in the process of tracking mineralization along the unconformity with our drills, searching for structural grabens or depressions in the basement that may have concentrated mineralization in a particular area. Due to the high percentage of cover at Atlanta, our high-resolution geophysical data will be important in identifying prospective structural “traps””.

QA/QC Protocols

All RC samples from the Atlanta Project are split at the drill site and placed in cloth and plastic bags utilizing a nominal 2kg sample weight. CRF standards, blanks, and duplicates are inserted into the sample stream on-site on a one-in-twenty sample basis, meaning all three inserts are included in each 20-sample group. Samples are shipped by a local contractor in large sample shipping crates directly to American Assay Lab in Reno, Nevada, with full custody being maintained at all times. At American Assay Lab, samples were weighted then crushed to 75% passing 2mm and pulverized to 85% passing 75 microns in order to produce a 300g pulverized split. Prepared samples are initially run using a four acid + boric acid digestion process and conventional multi-element ICP-OES analysis. Gold assays are initially run using 30-gram samples by lead fire assay with an OES finish to a 0.003 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. Every sample is also run through a cyanide leach for gold with an ICP-OES finish. The QA/QC procedure involves regular submission of Certified Analytical Standards and property-specific duplicates.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Calvin R. Herron, P.Geo., who is a Qualified Person as defined by National Instrument 43-101.

About Nevada King Gold Corp.

Nevada King is focused on advancing and growing its 100% owned, past producing, 120km² Atlanta Gold Mine project located along the Battle Mountain trend in southeast Nevada. The project hosts an NI 43-101 compliant pit-constrained oxide resource of 460,000 oz Au in the measured and indicated category (11.0M tonnes at 1.3 g/t) plus an inferred resource of 142,000 oz Au (5.3M tonnes at 0.83 g/t) based on historical drilling, and does not include any of the 100,000m+ of drilling completed by Nevada King. See the NI 43-101 Technical Report on Resources titled “Atlanta Property, Lincoln County, NV” with an effective date of October 6, 2020, and a report date of December 22, 2020, as prepared by Gustavson Associates and filed under the Company’s profile on SEDAR+ (www.sedarplus.ca).

Table 5. NI 43-101 Mineral Resources at the Atlanta Mine

Please see the Company’s website at www.nevadaking.ca.