K2 Gold Approves $9.8 Million 2026 Budget
K2 Gold Approves $9.8 Million 2026 Budget
Vancouver, British Columbia--(Newsfile Corp. - January 5, 2026) -
K2 Gold Corporation
(TSXV: KTO)
(OTCQB: KTGDF) (FSE: 23K) ("K2" or the "Company") today announced that its Board of Directors has
approved a $9,800,000 budget for 2026. The approved budget is designed to aggressively advance the
Mojave Project upon receipt of the final Record of Decision, while also funding drill testing of new high-
priority targets recently defined at the Si2 Project in Nevada.
"With a $9.8 million exploration budget now approved, 2026 is shaping up to be a pivotal year for K2,"
stated Anthony Margarit, President & CEO of K2 Gold.
"The Board's approval is a clear endorsement
of the progress we have made across the portfolio. At Mojave, we continue to demonstrate compelling
scale, with multiple kilometres of high-grade gold, copper and polymetallic gold-silver-lead-zinc trends
now defined, positioning the project for a return to drilling — something our team has been working
toward for several years, and which will be particularly meaningful for us. In parallel, our work at Si2
has generated a very compelling pipeline of new targets that we expect to see drill-tested in the near
term, while the Wels project presents an opportunity to re-ignite value in Yukon. Together, we believe
these projects place K2 in a strong position to deliver multiple discovery-oriented catalysts through
2026."
Mojave Project - Large-Scale Polymetallic System with Multiple High-Grade Targets
Mojave represents a polymetallic mineralized system, hosting a 5 km long corridor of high-grade gold
mineralization in the east (Newmont - Dragonfly - Gold Valley) and 5km of strike of high-grade copper
mineralization in the west
Mojave Sample Result Highlights:
Bonanza-grade gold at the Gold Valley target, including rock samples up to 375 g/t Au and the
first-ever visible gold reported at Mojave.
Gold Valley lies along a 1.5 km structural trend extending north-northwest from the Dragonfly target,
where K2 drilled 86.9 m of 4.0 g/t Au from surface (2020).
A 5 km long copper corridor on the western side of the project, with samples from:
The Stega target area which has generated grab samples up to 14.2% Cu and 15.79 g/t Au.
Soda Valley target returning grab samples 2.91%, 2.61%, and 2.47% Cu and associated
silver up to 125 g/t Ag in quartz-carbonate structures.
A third major target area at Cerro Gordo, hosting Au-Ag-Pb-Zn mineralization, remains the least
tested zone and lies strategically on trend with both the eastern gold and western copper corridors.
Exploration Overview at Mojave
These highlights reinforce K2's 2020 drilling as well as earlier work that interpreted the entire Mojave
project area as part a large multi-commodity mineral zone that hosts gold, silver, copper and other base
metals. The broader district has seen exploration and mining activity from the mid 1800's to present.
This includes the Cerro Gordo district which produced an estimated 4.4 million ounces of silver, 37 tons
of lead, and 12,000 tons of zinc with lesser amounts of gold and copper (Merriam 1963); the Santa Rosa
Mine which produced 76,584 tons of ore averaging 0.45 g/t gold, 397.7 g/t silver, 16.3% lead, and 0.7%
copper (MacKevatt 1953 & Dixon 1991); and numerous other high-grade gold, silver, and base-metal
mines and prospects. The gold, as reported by K2 from the Eastern Target Areas was discovered only
more recently (1980's and 1990's).
Figure 1:
Mojave Project Target Areas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6578/279439_df92b626042feb38_002full.jpg
Si2 Project: New High Priority Targets
K2's Si2 Project is a compelling analogue to other significant low-sulphidation epithermal gold deposits,
including AngloGold Ashanti's Expanded Silicon Project (16.3 Moz Au)[i]. Both K2 Gold's Si2 Project
and AngloGold Ashanti's Silicon Project were originally identified by the same project generator using its
proprietary geological targeting methodology, securing first-mover access to this previously overlooked
epithermal target style[ii].
Recent studies and interpretation have defined new targets interpreted to point to potential boiling-zone
(potential gold deposition) level mineralization within a preserved epithermal system.2026 drilling at Si2
will represent the first systematic test of these new targets.
(The Company notes that Silicon is not necessarily representative of mineralization at Si2 and no resource has been defined.)
Figure 2:
K2's drill holes with fluid inclusion sample locations. Both temperature and gold grade increase with depth, with the projected "boiling
zone" occurring beneath the sampled interval.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6578/279439_df92b626042feb38_003full.jpg
Wels Project - Yukon
The
Wels Project
lies approximately 40km east of the community of Beaver Creek and 60km south of
Fuerte Minerals Coffee deposit discovered by Kaminak Gold Corporation (a former Discovery Group
company and K2's predecessor).
Both the Coffee project and the Wels project lie within the Tintina Gold Belt share similar characteristics
and are host to structurally controlled gold mineralization within intrusive rocks exhibiting multiple trends
of mineralization. The Wels land position consists of 350 contiguous quartz claims covering 7,200
hectares.
Highlights from K2's previous drilling at Wels included near-surface high grade intervals:
10.38 g/t Au
over 6m (DDH17-08)
3.53 g/t Au
over 19.5m (DDH15-01)
2.37 g/t Au
over 28.5m (DDH17-06)
34.7 g/t Au
over 1.52m in (WRC23-006)
1.60 g/t Au
over 21.34m in (WRC23-005) from 3.05m, including
3.22 g/t Au
over 9.14m.
Marketing Agreements
The Company announced today that it has retained Machai Capital Inc. ("Machai") to provide digital
marketing services on behalf of the Company. Machai will provide digital marketing services with
branding, content and data optimization to assist the Company to create in-depth marketing campaigns,
tracking, organizing and executing the Services through Search Engine Optimization (SEO), Search
Engine Marketing (SEM), Lead Generation, Digital Marketing, Social Media Marketing, Email
Marketing, and Brand Marketing. The services will be conducted in accordance with the applicable
TSX.V policies. The marketing campaign will be launched immediately and continue for three months,
pursuant to which Machai will receive C$200,000 plus GST and grant 100,000 stock options issued at
$0.81 per share, expiring January 2, 2029. The Company and Machai act at arm's length and Machai
has no present interest, directly or indirectly, in the Company or its securities. The marketing agreement
is subject to TSXV approval.
The Company also announced today that it has retained Winning Media LLC ("Winning Media") to
provide digital marketing services on behalf of the Company. Pursuant to the terms of the digital
marketing services agreement between the Company and Winning Media, Winning media will provide
digital media services including omnichannel programmatic advertising, sms and email marketing, ticker
tagging and digital podcasts, for a term of one month and will receive a fee of US$100,000 as
consideration for its services during the term of the agreement.
Neither Winning Media or any of its
principals currently own any interest, directly or indirectly, in the Company or its securities, or have any
right or intent to acquire such an interest.
Winning Media is based in Houston, Texas.
The agreement is
subject to TSXV approval.
Incentive Stock Options
In addition to the 100,000 stock options granted to Machai as noted above, the Company has granted
an additional 50,000 stock options to a consultant, at an exercise price of $0.81 per common share, for
a term of five years.
The options were granted in accordance with, and are subject to, the terms of the
Company's stock option plan and the policies of the TSXV.
The options will best in accordance with the
Company's stock option plan.
Qualified Person ("QP") and QA/QC
The technical information in this news release has been prepared in accordance with Canadian
regulatory requirements set out in NI 43-101 and reviewed and approved by Eric Buitenhuis, M.Sc.,
P.Geo., K2's QP and Vice President of Exploration.
About K2 Gold Corporation
K2 Gold is a member of Discovery Group and is focused on advancing gold exploration projects in
mining-friendly jurisdictions across the Western U.S. and Canada. The Company's flagship
Mojave
Project
covers 5,830 hectares and includes multiple previously drilled oxide gold targets. Since
acquiring the project, K2 has advanced exploration through geochemical, geophysical, and remote
sensing surveys, as well as RC drilling.
K2 Gold is committed to responsible exploration, Indigenous and community engagement, and
advancing high-quality projects through a collaborative and technically disciplined approach.
On behalf of the Board of Directors,
Anthony Margarit
President and CEO
778-266-1456
www.k2gold.com
For further information about K2 Gold Corporation or this news release, please visit our website at
k2gold.com
, contact our office at 778-266-1456, or
.
K2 Gold Corporation is a proud member of Discovery Group based in Vancouver, Canada. For more
information please visit:
discoverygroup.ca
.
Cautionary Statement on Forward-Looking Statements
This news release contains forward-looking statements that are not historical facts. Forward-looking
statements involve risks, uncertainties and other factors that could cause actual results, performance,
prospects, and opportunities to differ materially from those expressed or implied by such forward-looking
statements, including statements regarding the exploration program at Si2, Wels, and Mojave, including
results of drilling, and future exploration plans at Si2, Wels, and Mojave. Factors that could cause actual
results to differ materially from these forward-looking statements include, but are not limited to, variations
in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to
obtain any necessary permits, consents or authorizations required for its planned activities, and the
Company's inability to raise the necessary capital or to be fully able to implement its business strategies.
The reader is referred to the Company's public disclosure record which is available on SEDAR+
(
sedarplus.ca
). Although the Company believes that the assumptions and factors used in preparing the
forward-looking statements are reasonable, undue reliance should not be placed on these statements,
which only apply as of the date of this news release, and no assurance can be given that such events will
occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the
TSX Venture Exchange, the Company disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be
any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful, including any of the securities in the United States of America. No securities of the Company
have been or will, in the foreseeable future, be registered under the United States Securities Act of 1933
(the "1933 Act") or any state securities laws and may not be offered or sold within the United States or
to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless
registered under the 1933 Act and applicable state securities laws, or an exemption from such
registration requirements is available.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
[i]
https://reports.anglogoldashanti.com/24/wp-content/uploads/2025/03/AGA-RR24.pdf
Triple Flag Precious Metals, Expanded Silicon - 1% NSR Gold Royalty Acquisition (Investor Presentation, Apr. 22, 2025), p. 6 (16.3 Moz total
resource; cites AngloGold Ashanti MRMR 2024).
Link:
https://s29.q4cdn.com/841442677/files/doc_presentations/2025/Apr/TFPM-to-Acquire-Orogen-Royalties-Presentation-04-22-25.pdf
[ii] Orogen Royalties, Orogen options the Si2 Gold Project to K2 Gold (news release; Si2 project origination/option to K2).
Link:
https://orogenroyalties.com/news-releases/orogen-options-the-si2-gold-project-to-k2-gold/
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/279439