NEVADA KING GOLD CORP NEW - NKGFF STOCK NEWS

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.

Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) has announced a new at-surface oxide gold discovery at the East Ridge Zone (ERZ) of its Atlanta Gold Mine Project in Nevada. Key highlights include:

- Intercept of 1.32 g/t Au over 22.9m in hole AT24ET-11

- Gold mineralization found in 5 widely spaced holes over a 100m x 200m area

- Mineralization hosted in silica breccia and intrusive rock, open to 57m depth

- ERZ represents the first satellite gold discovery at Atlanta, demonstrating district-scale potential

- Discovery based on geophysical anomaly, opening up numerous additional target areas

The company is now testing extensions of the ERZ along the geophysical anomaly and exploring for depth and width of mineralization.

Nevada King Gold Corp. has launched its 2024 reconnaissance drilling program at the Atlanta Gold Mine Project located in the Battle Mountain Trend, Nevada. The program aims to drill test the East Ridge Target, a 1,000m north-south striking zone, for gold surface anomalies identified during a 2021 mapping and sampling program. The drilling will occur at six sites along newly constructed roads to evaluate depth and strike extensions of these anomalies. Preliminary results from geophysical surveys conducted in 2022 and 2023 support the presence of gold-bearing intrusions. The company has already completed road and drill pad construction, and drilling is now underway. All samples will undergo rigorous QA/QC protocols, ensuring accurate and reliable assay results.

On June 11, 2024, Nevada King Gold announced an arrangement agreement for the strategic reorganization of its business. The Spin-Out, effective from late July 2024, will involve the transfer of all properties, except the Atlanta Gold Mine Project, to a new entity, SpinCo. Nevada King shareholders will receive shares in SpinCo proportionate to their current holdings. Additionally, SpinCo will receive a 3.0% net smelter return royalty on all gold and silver production from Atlanta. SpinCo will manage over 193,000 acres of mineral claims, making it the third-largest mineral claim holder in Nevada. This reorganization aims to unlock value and allow each entity to focus on its core projects.

Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) announced assay results from one metallurgical core hole and two reverse circulation (RC) holes at its Atlanta Gold Mine Project. Key intercepts include:

• 6.14 g/t Au over 30.7m
• 4.15 g/t Au over 35.1m
• 3.08 g/t Au over 48.8m

These results confirm a strong intrusive connection to gold mineralization along the West Atlanta Fault (WAF) zone. Significant high-grade gold was identified, with some intervals showing up to 11.06 g/t Au. The project aims to refine its geological model using detailed trace element geochemistry to differentiate protolith types and identify critical structures responsible for gold mineralization.