K2 Drills High-Grade Gold at Mojave Project: DF26-020 39.62m of 5.35 g/t Au; DF26-019 10.67m of 7.75 g/t Au; DF26-018 18.29m of 3.77 g/t Au
TSX-V: KTO
Suite 1020 – 800 West Pender Street, Vancouver, BC V6C 2V6
NEWS RELEASE
K2 Drills High-Grade Gold at Mojave Project:
DF26-020 39.62m of 5.35 g/t Au;
DF26-019 10.67m of 7.75 g/t Au;
DF26-018 18.29m of 3.77 g/t Au
Vancouver, B.C. – August 18, 2026 – K2 Gold Corporation (“K2” or the “Company”) (TSX-V:
KTO; OTCQX: KTGDF; FRANKFURT: 23K) today announced the results of the first three drill
holes completed at the Mojave Project, as part of a fully permitted and fully funded 14,000 metre
campaign representing the largest drill program ever undertaken on the project . Results from
drilling at the first pad at the Dragonfly Zone confirm the presence of a high- grade oxide gold
system in a 40m step out hole north from K2’s 2020 discovery intercepts.
Highlights
• Results from all three holes reported herein are from site DF- A, a 40-metre step north
from K2’s 2020 highlight hole in the Dragonfly Zone, DF20-002: 45.72m of 6.68 g/t Au
(see K2 release of November 30, 2020);
o DF26-020: 39.62m of 5.35 g/t Au from 51.82m down hole, including 25.91 m of
7.14 g/t Au
o DF26-019: 10.67m of 7.75 g/t Au from 16.76m down hole
o DF26-018: 18.29m of 3.77 g/t Au from 27.43m down hole, including 7.62m of
7.48 g/t Au
o All three holes collared in a previously unknown gold zone with grades up to 0.96
g/t Au
• 15 holes completed to date for 2,630m of a fully permitted and fully funded 14,000m
campaign. Results from 12 additional K2 drill holes are pending.
• All holes drilled to date have intersected a well-mineralized system of sub-parallel, steeply
west-dipping structures hosting oxide gold.
• Mineralization at Dragonfly has been confirmed over 400m of drilled strike length and
remains open along strike and at depth. In addition to the main zone several parallel
structures have been identified by rock sampling.
• The Dragonfly Zone is located 1.5km south of the undrilled Gold Valley target (rock
samples to 375 g/t Au) midway along the >6.5km long Eastside Gold Trend, a broad
mineralized trend which has been identified by K2 sampling and limited historical drilling
(see NI43-101 Technical Report).
• The company will be hosting a live webinar Tuesday August 18 at 10am PST
John Robins, Executive Chairman of K2 stated: "We are exceptionally pleased with these initial
results. All work done to date on our 100% owned Mojave Project indicates the presence of a
very large mineralized system. The current drilling on the >6.5km long Eastside Gold Trend is
beginning to yield exceptionally high grades of oxide gold with multiple stacked mineralized
structures.”
“The strength of these initial drill results from Mojave reinforces our enthusiasm for the opportunity
we see across the project. Importantly, these first three holes represent a 40-metre step-out into
previously untested ground, demonstrating the potential to extend mineralization beyond our
previous drilling. With our 14,000 metre drill program continuing and assays currently pending
from 12 holes, we are excited about the results still to come,” stated Anthony Margarit, President
and CEO of K2 Gold.
Figure 1: Plan map of 2026 RC drilling at the Dragonfly Zone.
Figure 2: Cross section of drilling in this release at the Dragonfly Zone, looking NNE.
Figure 3: Map of target areas throughout the region – new Dragonfly results noted.
Dragonfly Zone – Site DF-A
Dragonfly is centrally located in the middle of the Eastside Gold Trend 1.5km south of Gold Valley
and 2km north of Newmont, where high-grade oxide gold mineralization is hosted within a series
of steeply west-dipping structures. Ribs of silicified and strongly oxidized conglomerate, siltstone,
and limestone are exposed in the core of the target area and carry gold values of up to 22.53 g/t
Au. Surrounding the currently drilled portion of the target, s tacked, subparallel structures are
observed over a 400m wide corridor, with the majority undrilled to date.
K2’s initial drilling at the Dragonfly Zone was conducted from site DF- A, a 40m step north from
the highlight results of 45.72m of 6.68 g/t Au drilled in hole DF20-002 by the Company in 2020.
The 2026 holes represent the first drilling conducted in this segment of the Dragonfly Zone. Three
holes have been completed from Site DF-A, with drilling conducted at a 070° azimuth in an angled
fan: DF26-018 (-70° dip), DF26-019 (-50° dip), and DF26-020 (-85° dip).
All three holes intersected strong to moderate alteration starting shortly after collaring in a
previously unknown gold zone up to 0.96 g /t Au, with multiple zones of steeply west -dipping
mineralization occurring within a broad alteration envelope defined by a halo of silicification and
oxidation. Assay values for the individual samples ranged from trace to 14.9 g/t Au. At present
time, true widths of the mineralized structures at Dragonfly are unknown.
Table 1: Highlight results from initial drilling at the Dragonfly Zone from Site DF -A. Full gold assay results
for each hole are available here.
Drill Hole From (m) To (m) Width* (m) Gold (g/t)
DF26-018 27.43 45.72 18.29 3.77
including 32.00 39.62 7.62 7.48
96.01 103.63 7.62 0.43
118.87 143.26 24.39 0.33
including 118.87 121.92 3.05 1.67
DF26-019 16.76 27.43 10.67 7.75
77.72 85.34 7.62 1.85
94.49 97.54 3.05 2.27
114.3 131.06 16.76 0.55
including 114.3 118.87 4.57 1.69
DF26-020 0 4.57 4.57 0.51
51.82 91.44 39.62 5.35
including 62.48 88.39 25.91 7.14
128.02 131.06 3.04 0.62
155.45 166.12 10.67 0.28
*Reported widths are drilled widths and may not represent true thickness at this time.
Table 2: Drill hole specifications for the initial holes in this release. Coordinates in UTM NAD83 Z11.
Drill Hole Drill Site UTM X UTM Y Elevation
(m)
Azimuth
(deg.)
Dip
(deg.)
Length
(m)
DF26-018 DF-A 433020 4039197 2196 70 -70 192.02
DF26-019 DF-A 433020 4039197 2196 70 -50 190.5
DF26-020 DF-A 433020 4039197 2196 70 -85 192.02
DF26-018
Hole DF26-018 drilled through a previously unknown gold zone and silicified conglomerate at
surface to 3.05m with grade up to 0. 61 g/t Au, before transitioning to a siltstone/shale unit with
variable iron oxides (goethite, hematite) and quartz -calcite veinlets to 21.0m. An alternating
mixture of sandstone and siltstone continues to final depth with pure calcite veins, quartz veinlets
and si licification, and oxidized finely disseminated sulphides. The sandstone/siltstone mixture
hosts strong gold mineralization with a moderate amount of iron oxides. Other observations
include the development of gypsum halos around quartz-oxidized sulphides, deep yellow, orange,
and red phyllitic siltstone. Increased iron oxides and fine- grained muscovite/illite are associated
with the phyllitic siltstones.
Table 3: Sample-by-sample gold values for the highlight intercept from DF26- 018: 18.29m of 3.77 g/t Au
beginning at 27.43m down hole.
Drill Hole Sample ID From (m) To (m) Au (g/t)
DF26-018 C0106018 24.38 25.91 0.034
DF26-018 C0106019 25.91 27.43 0.049
DF26-018 C0106021 27.43 28.96 0.466
DF26-018 C0106022 28.96 30.48 0.48
DF26-018 C0106023 30.48 32 0.358
DF26-018 C0106024 32 33.53 9.73
DF26-018 C0106025 33.53 35.05 8.56
DF26-018 C0106026 35.05 36.58 7.12
DF26-018 C0106027 36.58 38.1 5.07
DF26-018 C0106028 38.1 39.62 6.93
DF26-018 C0106029 39.62 41.15 1.545
DF26-018 C0106031 41.15 42.67 1.78
DF26-018 C0106032 42.67 44.2 2.88
DF26-018 C0106033 44.2 45.72 0.36
DF26-018 C0106034 45.72 47.24 0.093
DF26-018 C0106035 47.24 48.77 0.034
DF26-019
Hole DF26-019 collared on the same site as DF26-018 and drilled through a similar initial
sequence of conglomerate and sandstone. High- grade gold, 10.67m at 7.75 g/t, is associated
with the silicified and quartz -veined conglomerate starting at 16.76m to 27.43m. Starting at
79.25m the lithologies alternate from shale, siltstone, and sandstone with moderate to locally
strong iron oxides (goethite, hematite) in fractures, veinlets, and disseminated with or without
quartz veinlets. Several intervals of gold mineralization are associated with higher iron oxide
content starting at 79.25, at 94.49, 115.82m depths, each zone spanning 4.57 to 6.10 met res
thick.
Table 4: Sample-by-sample gold values for the highlight intercept from DF26- 019: 10.67m of 7.75 g/t Au
beginning at 16.76m down hole.
Drill Hole Sample ID From (m) To (m) Au (g/t)
DF26-019 C0106153 13.72 15.24 0.011
DF26-019 C0106154 15.24 16.76 0.018
DF26-019 C0106155 16.76 18.29 4.08
DF26-019 C0106156 18.29 19.81 8.42
DF26-019 C0106157 19.81 21.34 12.65
DF26-019 C0106158 21.34 22.86 13.3
DF26-019 C0106159 22.86 24.38 12.3
DF26-019 C0106161 24.38 25.91 2.93
DF26-019 C0106162 25.91 27.43 0.566
DF26-019 C0106163 27.43 28.96 0.151
DF26-019 C0106164 28.96 30.48 0.015
DF26-020
Hole DF26-020, also collared from the same pad with a -85 inclination, drilled through the same
previously unknown gold zone for 6.1m with grade to 0.96 g/t Au. Like holes DF26-018 and DF26-
019, this hole cut interbedded shale, siltstone, sandstone, and minor conglomerates separated
by both natural depositional to fault-structural boundaries. The interval hosting gold mineralization
consists of bright yellow -orange (goethite) to purple- red (hematite) siltstone and orange- brown
sandstone cut by quartz veins and veinlets and occasional calcite. The interval is completely
oxidized. A segment of unoxidized siltstone with minor disseminated pyrite is intersected from
92.96 to 126.49m, then quickly transitions to an oxidized section of sandstone, shale, and siltstone
with minor intervals of gold mineralization up to 4.57m at 0.43 g/t Au from 128.02m depth.
Table 5: Sample-by-sample gold values for the highlight intercept from DF26- 020: 39.62m of 5.35 g/t Au
beginning at 51.82m down hole.
Drill Hole Sample ID From (m) To (m) Au (g/t)
DF26-020 C0106319 48.77 50.29 0.059
DF26-020 C0106321 50.29 51.82 0.067
DF26-020 C0106322 51.82 53.34 1.605
DF26-020 C0106323 53.34 54.86 7.48
DF26-020 C0106324 54.86 56.39 1.73
DF26-020 C0106325 56.39 57.91 0.303
DF26-020 C0106326 57.91 59.44 0.131
DF26-020 C0106327 59.44 60.96 1.26
DF26-020 C0106328 60.96 62.48 3.44
DF26-020 C0106329 62.48 64.01 5.9
DF26-020 C0106331 64.01 65.53 8.95
DF26-020 C0106332 65.53 67.06 5.86
DF26-020 C0106333 67.06 68.58 5.45
DF26-020 C0106334 68.58 70.1 6.4
DF26-020 C0106335 70.1 71.63 7.25
DF26-020 C0106336 71.63 73.15 5.1
DF26-020 C0106337 73.15 74.68 3.04
DF26-020 C0106338 74.68 76.2 3.96
DF26-020 C0106339 76.2 77.72 11.35
DF26-020 C0106341 77.72 79.25 14.9
DF26-020 C0106342 79.25 80.77 11.4
DF26-020 C0106343 80.77 82.3 6.78
DF26-020 C0106344 82.3 83.82 6.37
DF26-020 C0106345 83.82 85.34 7.23
DF26-020 C0106346 85.34 86.87 5.03
DF26-020 C0106347 86.87 88.39 6.4
DF26-020 C0106348 88.39 89.92 1.38
DF26-020 C0106349 89.92 91.44 0.321
DF26-020 C0106351 91.44 92.96 0.131
DF26-020 C0106352 92.96 94.49 0.165
DF26-020 C0106353 94.49 96.01 0.068
Permitting
In early 2026, the Company received a positive Record of Decision (“ROD”) approving the Mojave
Exploration Drilling Program from the U.S. Bureau of Land Management (“BLM”) authorizing
exploration drilling from up to 22 drill sites.
The Company’s drilling program is proceeding under a comprehensive Plan of Operations that
aims to minimize environmental impact. Drill sites are limited in size, pads are constructed out of
timber to avoid extensive excavation, and all sites have been pr e-cleared by qualified biologists
and archaeologists after years of baseline work, avoiding all known cultural and biological
resources. In addition, Tribal Monitors from participating tribes are present at each drill site on a
24/7 basis. The current program constitutes the largest drill program ever undertaken on the
Mojave Project.