NKG.V · 2025-04-14 12:00:00

Nevada KING Announces Increase of Phase III Program to 30,000M, Refines Regional Targets at Atlanta

Exploration Programs

NEVADA KING ANNOUNCES INCREASE OF PHASE III PROGRAM TO

30,000M, REFINES REGIONAL TARGETS AT ATLANTA

VANCOUVER, BC

April 14, 2025

/CNW/ -

Nevada King Gold Corp.

(TSXV: NKG) (OTCQB: NKGFF) ("

Nevada King

" or the "

Company

") is pleased to provide

an update on its regional drill program at its 100%-owned Atlanta Gold Mine Project along the prolific Battle Mountain Trend, 264km northeast of

Las Vegas,

Nevada

To date, the Company has completed 88 widely spaced reverse circulation ("

") holes, totaling 21,300 metres, focused along the margins of the

Atlanta

caldera

over an 18km

area. Drilling has occurred at the 12 preliminary targets released on

September 17, 2024

, and

October 3, 2024

, which were largely based on

geophysical anomalies. Through drilling, these targets have evolved into three major exploration areas – Atlanta South (that includes the South Quartzite Ridge

Target), Atlanta North, and Silver Park (Figure 1). Two RC drills are currently operating onsite, with one dedicated to testing early-stage targets at Atlanta North

and Silver Park while the other rig concentrates on testing prospective host rocks beneath the quartzite cap at Atlanta South. The Company is waiting on assays

for several key holes and expects to provide an initial release on Phase III drill results in the coming weeks. Drilling at Atlanta North and Silver Park has

progressed faster than expected, while drilling at Atlanta South has been slower than expected due to challenges drilling through the Eureka Quartzite. As a result

of initial findings of the ongoing drilling, the Company is pleased to announce an increase of its Phase III drill program from

20,000m

30,000m

Figure 1. Simplified Regional Target Map for Atlanta. (CNW Group/Nevada King Gold Corp.)

Target Areas

Atlanta South

, formerly known as the South Quartzite Ridge Target, starts at the southern end of the

Atlanta

resource area at highlight hole AT24HG-41

(6.28 g/t Au over

54.9m

released

July 23, 2024

) and trends southward for 2.5km. This large target area coincides with a prominent north-south ridge

capped by Eureka Quartzite that is underlain by Pogonip limestone. Numerous dikes and sills intrude the Pogonip and Eureka Quartzite along the ridge crest,

which coincides with the southern extension of the West Atlanta Fault and other faults associated with gold mineralization within the resource area.

Geophysical signatures that led to the discovery of AT24HG-41 show similar patterns of a low-resistivity horizon beneath the highly resistive quartzite. This

low resistivity horizon constitutes the Company's primary target at Atlanta South, where potential is seen for mineralization hosted within intrusions and the

surrounding Pogonip. The Lower Ordovician Pogonip Formation is an important gold host in

Nevada

including at Nevada Gold Mines' Long Canyon Mine (1.98

Moz Au

endowment) and at I-80 Gold's Archimedes and

Ruby Hill

deposits (combined 5.39

Moz Au

endowment) in the Eureka District. Past operators from

Kinross

to Goldfields also recognized the potential for Au mineralization hosted in the Pogonip at

Atlanta

but focused their drilling on strong soil anomalies

west of Atlanta South. Geophysical surveys conducted by

Nevada King

reveal the presence of several potential intrusive bodies occurring in the Pogonip, but

further east under the quartzite cap at Atlanta South.

Drilling at Atlanta South has progressed slower than expected initially due to constraints accessing the most prospective areas atop the ridge, followed by

challenges drilling through the Eureka Quartzite. These hurdles have been overcome and the Company recently completed the first hole ever drilled from the

crest of Atlanta Peak.

The

Silver Park Target

is an arcuate shaped zone that follows the margin between the northern boundary of the Ryan Springs Caldera and the southern

boundary of the Atlanta Caldera. It is centred on the high-grade historic Silver Park Mine that operated from the late 1800s until the turn of the century.

Historical production figures are unknown; however, historical reports state that small batches of processed ore had head grades exceeding 2,600 oz/t Ag.

The open pit and underground workings occur within an elevated horst block of Silurian-age Laketown Dolomite that is flanked to the east and west by north-

south trending faults. The adjacent, down-dropped grabens flanking the Silver Park horst show similar geological structures to the

Atlanta

resource area. The

large rhyolite intrusive domes exhibit strong surface geochemical anomalies with elevated Au, Ag, and As, along with weak Mo and Sb. This is where

numerous rock chip samples exceeding 1 g/t Au and running as high as 4.58 g/t Au occur along major structures with silica breccia outcrops and alteration at

surface. Historical drilling in this area yielded encouraging results; however, it was limited to the mine area itself and did not venture out into the surrounding

intrusive dominated, down-dropped grabens that have become evident with geophysics.

Atlanta

North

extends 4.5km northward from the

Atlanta

resource area along the northerly-trending West Atlanta Fault, which controls much of the gold

mineralization within the

Atlanta

resource area. Prospective targets along Atlanta North are dolomite hosted and form a prominent ridge immediately north of

the

Atlanta

resource. Outcrops of brecciated and silicified dolomite occur along the eastern flank of this ridge where surface rock samples returned

consistently anomalous gold and arsenic values. This area has not been previously drill-tested, and

Nevada King

is currently drilling at the far northern end of

the target zone where rock chip samples grade as high as 0.84 g/t Au in silicified dolomite containing very fine-grained sulfides. Interpretation of geophysical

data indicates steeply dipping, northerly trending structures and potential intrusive plumes associated with alteration and anomalous geochemistry seen in

outcrop, thus indicating a geologic setting favorable for mineralization.

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 ("

NI 43-101

").

Sourced from Nevada Division of Minerals (NDOM) website and I-80 Gold's 2021 NI 43-101 report. 1,516,507 Moz Au production + 3,874,000 Moz Au indicated = 5,390,507 Moz Au endowment.

Sourced from Nevada Division of Minerals (NDOM) website and Berrick's 2023 Q4 results released February 14

, 2024.

1,168,694 Moz Au production + 820,000 oz M&I = 1,988,694 Moz Au endowment.

About Nevada King Gold Corp.

Nevada King

is focused on advancing and growing its 100% owned, past producing, 120km

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

NI 43-101 Mineral Resources at the Atlanta Mine

Resource