NKG.V · 2023-01-19 12:00:00

Nevada KING Significantly Adds to Its Strategic Mineral Claim Holdings Along the Prolific Battle Mountain Trend, Nevada

Mergers & Acquisitions Property Options & Staking

NEVADA KING SIGNIFICANTLY ADDS TO

ITS STRATEGIC MINERAL CLAIM

HOLDINGS ALONG THE PROLIFIC

BATTLE MOUNTAIN TREND, NEVADA

VANCOUVER, BC, Jan. 19, 2023 /CNW/ - Nevada King Gold Corp.

(TSXV: NKG) (OTCQX: NKGFF) ("Nevada King" or the "Company")

is pleased to provide an update on its strategic mineral claim holdings

located along the prolific Battle Mountain Trend, Nevada.

Highlights:

• Throughout 2022, Nevada King staked an additional 1,825

mineral claims covering 147km2, further bolstering its strategic

land package along the Battle Mountain Trend. As a result, the

Company now holds 10,315 (834.9km2) lode claims, making it

the 3rd largest mineral hard rock claim holder in the State of

Nevada, behind Kinross Gold and Nevada Gold Mines, the

Barrick/Newmont Joint Venture (Figure 2).

• The Company's current staking efforts are focused on target

areas it has identified along the Battle Mountain Trend. The

Company anticipates locating additional claims by year's end

and when staking is completed will disclose in more detail the

areas that have been added, its targeting rationale for these

areas and, where applicable, the exploration strategy it plans to

pursue to advance these project areas.

• The Company began building its project portfolio in 2016,

concentrating its efforts on developing district-sized projects

along the Battle Mountain Trend in close proximity to current

mines and resources. A majority of this ground was acquired via

staking, importantly avoiding underlying net smelter royalties,

option payments, and work commitments. As a result, 98% of

Nevada King's land holdings are free of any royalties.

• Approximately 50% of the Company's claims are located in the

heart of the Battle Mountain Trend near the Cortez, Pipeline,

Phoenix, and Lone Tree Mines. These include its Lewis (650

claims), Horse Mountain/Mill Creek (920 claims), South Hilltop

(343 claims), Buffalo Valley (1,191 claims), and Iron Point (1,531

claims) project areas (Figure 1).

Collin Kettell, Founder and CEO of Nevada King, stated, "Nevada

King was formed in 2016 with an aim to assemble a formative land

package along the most prolific gold trend in the world's premier

mining jurisdiction. Today, we rank behind just two mining juggernauts

– Kinross and Nevada Gold Mines – in lode claim tenure. No other

junior company ranks in the top seven list of claimholders.

"Nevada King's unfolding discovery at the Atlanta Gold Mine Project

provides a compelling reason for investors to consider Nevada King;

our strategic land package provides another. The Nevada landscape

has gone from near dormancy when we started the Company in 2016

to again becoming a preferred destination for gold-focused mineral

investment. This is best reflected in the the fact that following a

decade that began in 2011, starting in 2020, several major and

midtier mining companies have entered or re-entered the State,

spending billions cumulatively making acquisitions, forming joint

ventures, and optioning projects. Not only are there more companies

coming to Nevada, they are also spending more. It is in this

landscape, against the backdrop of rising gold prices, that the Nevada

King portfolio was built for."

Figure 1: Location of Nevada King’s claim holdings along the Battle

Mountain Trend. Recently staked claims are not shown on this map as

their location has not yet been disclosed. (CNW Group/Nevada King

Gold Corp.)

Figure 2: Growth of Nevada King’s claim holdings relative to other

Nevada hard rock lode claim owners. (CNW Group/Nevada King Gold

Corp.)

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").

About Nevada King Gold Corp.

Nevada King is the third largest mineral claim holder in the State of

Nevada, behind Nevada Gold Mines (Barrick/Newmont) and Kinross

Gold. Starting in 2016, the Company has staked large project areas

hosting significant historical exploration work along the Battle

Mountain trend located close to current or former producing gold

mines. These project areas were initially targeted based on their

potential for hosting multi-million-ounce gold deposits and were

subsequently staked following a detailed geological evaluation.

District-scale projects in Nevada King's portfolio include (1) the 100%

owned Atlanta Mine, located 100km southeast of Ely, (2) the Lewis

and Horse Mountain-Mill Creek projects, both located between

Nevada Gold Mines' large Phoenix and Pipeline mines, and (3) the

Iron Point project, located 35km east of Winnemucca, Nevada.

The Company is well funded with cash of approximately $10.2 million

as of January 2023.

The Atlanta Mine is a historical gold-silver producer with a NI 43-101

compliant pit-constrained 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). 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.sedar.com).

NI 43-101 Mineral Resources at the Atlanta Mine

Resource