NEVADA KING INTERCEPTS 2.72 G/T AU OVER 64M INCLUDING 4.29 G/T AU OVER 29M, EXTENDS PIT MINERALIZATION TOWARDS THE NORTH EXTENSION TARGET

Rhea-AI Summary

Nevada King Gold has announced significant drilling results from its Atlanta Gold Mine Project in Nevada. Key highlights include hole AT23WS-53 intercepting 2.72 g/t Au over 64m including 4.29 g/t Au over 29m, and AT24WS-67 yielding 1.56 g/t Au over 82.3m.

The drilling program successfully extended pit mineralization northward into the southern margin of the North Extension Target (NET). Notable results were found along the West Atlanta Fault #1, where higher grades were concentrated. The company is now moving forward with its Phase III regional exploration program, focusing on testing priority targets around the Atlanta Caldera's outer ring-fracture zone.

The exploration strategy involves tracking mineralization along the Tertiary-Paleozoic unconformity and using high-resolution geophysical data to identify prospective structural 'traps' for mineralization.

Positive

• High-grade gold intercepts: 2.72 g/t Au over 64m including 4.29 g/t Au over 29m
• Successful extension of mineralization northward into NET
• Multiple significant drill results showing consistent mineralization
• Discovery of thicker and higher-grade mineralization than previously recognized

Negative

• Several holes bottomed in mineralization, indicating incomplete definition of deposit boundaries
• Some drill holes were prematurely lost in mineralization, requiring additional drilling

VANCOUVER, BC, Feb. 19, 2025 /PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) ("Nevada King" or the "Company") is pleased to announce results from 18 vertical, reverse circulation ("RC") 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 Atlanta resource zone and aimed at connecting pit mineralization to the North Extension Target ("NET") and better defining the well-mineralized horizon found within the West Atlanta Graben Zone ("WAGZ").

Highlights:

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Section Line
AT23WS-53*	272.9	336.9	64.0	2.72	17.0	16N(3)
Including	278.9	307.9	29.0	4.29	30.2	16N(3)
AT24WS-76	236.3	304.3	68.6	1.17	18.5	17N(3)
AT24WS-67*	240.9	323.2	82.3	1.56	8.5	19N
AT24WS-70	250.0	317.1	67.1	1.44	17.9	19N
Including	254.6	260.7	6.1	4.05	17.6	19N

Table 1: Highlighted holes released on sections 22N-16N(3) and 22N-17N(3). Mineralization occurs along near-horizontal horizons with true mineralized thickness estimated to be 85% to 95% of reported drill intercept length. *Denotes holes bottoming in mineralization.

• 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 61m including 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"".

Hole ID	From(m)		To (m)	Interval(m)		Au(g/t)		Ag (g/t)		Section Line
AT23WS-43		237.8	268.3		30.5		0.72		9.8		17N(3)
AT23WS-53*		272.9	336.9		64		2.72		17		16N(3)
AT23WS-64		218	269.8		51.8		0.6		14		18N
AT24WS-68*		231.7	306.4		74.7		0.64		9.3		18N
AT24WS-67*		240.9	323.2		82.3		1.56		8.5		19N
AT24WS-69*		323.2	396.3		73.2		1.48		5.5		17N(3)
AT24WS-70		250	317.1		67.1		1.44		17.9		19N
AT24WS-71*		240.9	275.9		35.1		0.51		8.4		19N
AT24WS-72*		208.8	259.1		50.3		0.71		5.6		16N(3)
AT24WS-73*		224.1	314		89.9		1.12		11.9		16N(3)
AT24WS-74*		199.7	230.2		30.5		0.48		7		17N(3)
AT24WS-76		236.3	304.9		68.6		1.17		18.5		17N(3)
AT24WS-77*		307.9	365.9		57.9		0.91		9.9		16N(3)
AT24WS-79*		317.1	353.7		36.6		1.82		5.6		18N
AT24WS-81		429.9	434.5		4.6		0.03		0.03		18N
AT22NS-22		6.1	30.5		24.4		0.47		24.4		19N
AT22NS-22T+		194.8	205.5		10.7		0.25		18.4		19N
AT22NS-24		0	9.1		9.1		0.5		6.1		19N
AT22NS-25		0	18.3		18.3		0.47		7.1		19N
AT23NS-146		193.6	210.4		16.8		0.29		5.6		18N

Table 2: All holes released on today's sections 22N-16, 17, 18, and 19. Mineralization occurs along near-horizontal horizons with true mineralized thickness in vertical holes estimated to be 85% to 95% of reported drill intercept length. *Denotes holes that bottomed in mineralization. + Denotes core holes.

Hole ID	From (m)		To (m)	Interval (m)		Au (g/t)		Ag (g/t)		Section Line
AT22WS-2*		227.1	298.8		71.7		2.31		5.8		16N(3)
Includes		265.2	298.8		33.6		4.10		10.2		16N(3)
AT22WS-3A		179.9	259.1		79.3		0.44		3.8		16N(3)
AT22WS-12*		204.2	259.1		54.9		0.21		1.2		16N(3)
AT22NS-28T+		68.6	130.3		61.7		0.50		9.2		16N(3)
AT22NS-29A		1.5	32.0		30.5		0.66		14.0		16N(3)
AT23WS-45		263.7	324.7		61.0		3.52		15.7		16N(3)
Includes		280.5	291.2		10.7		7.55		36.3		16N(3)
AT23WS-57*		300.3	339.9		39.6		0.14		10.9		16N(3)
AT23WS-60		204.3	301.8		97.5		1.04		4.9		16N(3)
AT23WS-62		291.1	332.3		41.2		6.01		25.0		16N(3)
Includes		294.2	301.8		7.6		19.44		21.6		16N(3)
AT23WS-63*		309.5	336.9		27.4		1.18		18.3		16N(3)
AT23NS-149		175.3	193.6		18.3		0.45		10.3		16N(3)
AT21-010*		0	10.7		10.7		2.30		19.5		17N(3)
AT21-011^		0	19.8		10.7		0.97		10.5		17N(3)
AT22WS-1*		239.3	304.9		65.5		1.52		11.6		17N(3)
AT22WS-12*^		204.3	259.1		54.9		0.21		1.2		17N(3)
AT23WS-15		213.4	248.5		35.1		0.50		8.4		17N(3)
AT22NS-26T+		119.2	138.3		19.1		0.39		11.3		17N(3)
AT22NS-27		51.8	71.6		19.8		0.41		12.5		17N(3)
AT23WS-23C.1*+		226.2	312.5		86.3		4.51		50.7		17N(3)
Includes		256.3	299.2		43.0		7.77		25.1		17N(3)
AT23WS-023		230.2	332.3		102.1		2.45		10.1		17N(3)
Includes		288.1	300.3		12.2		8.78		11.8		17N(3)
AT23WS-18		225.6	283.5		57.9		1.48		8.5		17N(3)
AT23WS-58		213.4	297.2		83..8		0.75		5.6		17N(3)
AT23WS-59		216.4	283.5		67.1		0.86		10.9		17N(3)
AT23WS-61*		243.8	294.1		50.3		1.56		13.2		17N(3)
AT24WS-80		373.5	408.5		35.1		2.66		6.3		17N(3)
AT23WS-42		312.5	341.5		29		2.03		13.9		16N(3)
AT21-13		53.4	67.1		13.7		0.82		5.2		16N(3)
AT21-14		0	24.4		24.4		0.35		36		16N(3)

Table 3. Previously released holes used on sections 16, 17, 18, and 19. Mineralization occurs along near-horizontal horizons with true mineralized thickness in vertical holes estimated to be 85% to 95% of reported drill intercept length. *Denotes holes that bottomed in mineralization. +Denotes core holes. ^ Denotes aggregate assay interval.

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)
DHRI-11-NRC01*	310.9	338.3	27.4	0.42	5.9
DHRI-11-15C+	266.7	333.8	67.1	0.28	8.4
DHRI-11-NRC03	263.7	320.1	56.4	3.9	20.9
Includes	265.2	280.5	15.3	8.6	13.2
DHRI-12-MRC1*	271.3	349.1	77.8	1.95	6.5
KR98-25	204.2	214.9	10.7	0.31	6.6
GC96-09^	0	27.4	27.4	0.41	2.4
AR-05	217.9	233.2	15.3	1.32	8.2
AR-41^	0	19.8	19.8	0.16	21.7

Table 4. Historical drill holes used in today's cross sections. DHRI series holes drilled by Meadow Bay in 2011 and 2012. KR series hole drilled by Kinross in 1998. GC series hole drilled by Golden Chief in 1996. The AR series was drilled by Goldfields in 1991. * Denotes holes bottoming in mineralization. ^ Denotes angled drill holes. + Denotes core hole.

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").

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). 

Resource Category	Tonnes (000s)	Au Grade (ppm)	Contained Au Oz	Ag Grade (ppm)	Contained Ag Oz
Measured	4,130	1.51	200,000	14.0	1,860,000
Indicated	6,910	1.17	260,000	10.6	2,360,000
Measured + Indicated	11,000	1.30	460,000	11.9	4,220,000
Inferred	5,310	0.83	142,000	7.3	1,240,000

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

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Nevada King, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans and the Company's ability to potentially expand mineral resources and the impact thereon. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Nevada King, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Nevada King does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

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SOURCE Nevada King Gold Corp.

FAQ

What are the latest gold intercept results from Nevada King's Atlanta Project (NKGFF)?

The latest results include 2.72 g/t Au over 64m including 4.29 g/t Au over 29m in hole AT23WS-53, and 1.56 g/t Au over 82.3m in hole AT24WS-67.

How far has NKGFF extended mineralization at the Atlanta Mine Project?

The drilling has extended pit-proximal mineralization northward into the southern margin of the North Extension Target (NET), with significant intercepts approximately 350m north-northwest of the Atlanta Pit.

What is the significance of the West Atlanta Fault #1 in NKGFF's recent findings?

The West Atlanta Fault #1 has shown to be a key structure where the highest grades occur, continuing northward into the NET where it also localized higher grades.

What are NKGFF's plans for Phase III exploration at Atlanta?

NKGFF is launching a Phase III regional exploration program focusing on testing priority drill targets around the Atlanta Caldera's outer ring-fracture zone, using detailed geological and geochemical models.