Nevada King Gold Corp - NKGFF STOCK NEWS

Nevada King Gold Corp. (TSXV: NKG) (OTC: NKGFF) has announced assay results from twenty reverse circulation holes and one core hole at its Atlanta Gold Mine Project in Nevada. Highlights include:

- Hole AT23NS-120C: 53.8m of 4.10 g/t Au and 32.9 g/t Ag
- Hole AT23NS-171: 35.1m of 3.59 g/t Au and 37.1 g/t Ag
- Hole AT23NS-172: 24.4m of 1.76 g/t Au and 440.6 g/t Ag

The results confirm high-grade mineralization in the Atlanta Mine Fault Zone and West Atlanta Graben Zone. The company's relogging campaign has identified two distinct types of intrusive or silica breccia units, which will inform future exploration efforts. Nevada King plans to use this new understanding in its regional exploration program, relying on CSAMT signatures to identify additional mineralized zones.

Nevada King Gold Corp. (TSXV: NKG) (OTC: NKGFF) has identified five new high-priority drill-ready regional exploration targets at its Atlanta Gold Mine Project in Nevada. The targets - Lone Ranger, Northeast, Crossroads, Bounty, and Jumbo - cover a combined 13.9km2 area north and northeast of the historical Atlanta Mine.

These targets were identified using geophysical data from CSAMT, drone magnetics, and gravity surveys. They occur where intrusive bodies coincide with major basement faults that potentially channeled gold-bearing fluids. The company plans a Phase III regional drilling program to test these targets, pending BLM approval.

The targets are mostly buried under barren dolomite, post-mineral volcanics, and alluvium. Three have never been drill-tested, while two have a few shallow historical holes. This exploration strategy follows recent discoveries near the Atlanta resource zone based on CSAMT signatures.

Nevada King Gold Corp. (TSXV: NKG) (OTC: NKGFF) has acquired an option to purchase a 100% interest in the Silver Park property, located within the Atlanta Project boundary in Lincoln County, Nevada. The property, consisting of three contiguous patented land parcels totaling approximately 24 hectares, adds private ground to the Atlanta Project, offering increased flexibility for permitting and potential future mining infrastructure. The option agreement involves the issuance of 100,000 common shares to Ofor Silver, at a deemed value of $0.41 per share, totaling $41,000. Nevada King can exercise the option by paying US$75,000 before July 30, 2034. The Silver Park area has a history of silver and gold mineralization discovery dating back to 1869, with production and shallow mineralization identified through drilling in 1975.

Nevada King Gold Corp. (TSXV: NKG) (OTC: NKGFF) announces the start of geophysical surveys at its Atlanta Gold Mine Project in Nevada. The surveys, including CSAMT, IP, Drone Radiometrics, and Spectral Imaging, aim to identify potential mineralization areas and refine blind targets. Previous CSAMT surveys led to discoveries at East Ridge Target, South Quartzite Ridge Target, and Wild West Zone.

The Phase III CSAMT survey will cover 69.4 line-kilometers, while IP surveys will evaluate anomalies across 13.25 line-kilometers. Drone Radiometric surveys will cover 9 km² to detect potential intrusive-related mineralization. The company will use GeoExploration 's AI-backed CAGE-IN technology to analyze data and identify potential intrusive bodies for future drilling programs.

Recent drilling intersected 68.6 meters grading 5.14 g/t gold and 16 g/t silver within an intrusive-style gold mineralization zone, supporting the presence of multiple intrusive bodies on the property.

Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) has announced significant gold intercepts from its Atlanta Gold Mine Project in Nevada. The company discovered a new mineralized area called the Wild West Zone (WWZ), located approximately 150m west of the Atlanta resource zone. Key highlights include:

- Hole AT24WS-83: 42.7m of 4.67 g/t Au, including 18.3m of 7.94 g/t Au
- Hole AT24WS-80: 35.1m of 2.66 g/t Au, including 9.1m of 5.06 g/t Au
- Hole AT24WS-69: 73.2m of 1.48 g/t Au, including 4.6m of 4.97 g/t Au

The WWZ measures up to 200m east-west and over 500m north-south, remaining open to the west and south. This discovery, along with recent finds at East Ridge and South Quartzite Ridge, significantly expands the potential of the Atlanta project.

Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) and NV King Goldlands Inc. have completed their strategic reorganization, spinning out all of Nevada King's concessions except the Atlanta Gold Mine Project. Shareholders received one new Nevada King share and one-thirtieth of an NV Goldlands share for each Nevada King share held. NV Goldlands now holds target areas along the Battle Mountain trend, including Lewis, Horse Mountain-Mill Creek, and Iron Point projects.

Nevada King granted NV Goldlands a 3.0% net smelter return (NSR) royalty on gold and silver production from Atlanta. NV Goldlands will operate as a reporting issuer but won't be listed on a public stock exchange. Collin Kettell, a significant shareholder, received 2,066,034 NV Goldlands shares and 271,833 options, representing approximately 19.95% of NV Goldlands' shares if options are exercised.

Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) has received court approval for its plan to spin out non-Atlanta claims to shareholders. The arrangement, approved by 96.30% of shareholder votes, is expected to be effective on August 1, 2024. Shareholders of record as of July 31, 2024, will receive one new Nevada King common share and one-thirtieth of a SpinCo common share for each existing share held. SpinCo will also be granted a 3.0% net smelter return royalty on gold and silver production from the Atlanta Gold Mine Project. The spin-out is subject to final TSXV approval and other customary closing conditions.

Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) announced significant drill results from its Atlanta Gold Mine Project in Nevada. Hole AT24HG-41 intercepted 6.28 g/t Au over 54.9m in intrusive rocks beneath a quartzite cap, extending mineralization southward under the South Quartzite Ridge Target (SQRT). This high-grade intercept opens up new exploration potential in the 2.5km long SQRT area, which was previously untested. The mineralization is hosted in altered rhyolitic intrusive rocks, suggesting potential for a significant gold system similar to the Round Mountain mine. The results highlight the importance of testing for blind mineralization under the quartzite unit and expand the prospective area for the Atlanta resource.

Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) shareholders have approved the spin-out of all company concessions and properties, except the Atlanta Gold Mine Project, to a new entity named NV King Goldlands Inc. The spin-out includes granting a 3.0% net smelter return royalty on gold and silver production from Atlanta to SpinCo. The arrangement was approved by 96.30% of shareholder votes. SpinCo will control over 193,000 acres (9,682 claims) along the Battle Mountain Trend, making it the third largest mineral claim holder in Nevada. The spin-out is expected to be effective around August 1, 2024, subject to court approval. Nevada King shares will continue trading on TSXV and OTC Markets, while SpinCo shares will not be listed initially.