Nevada King Intercepts 2.58 G/t Au Over 29.3m From Surface and Bottoming in Mineralization at East Ridge and Continues to Expand Near Surface Oxide Gold at Silver Park

Nevada King reports high-grade, near-surface gold intercepts at Atlanta’s East Ridge and Silver Park.

What the company is saying

Nevada King Gold Corp. (TSXV:NKG, OTCQX:NKGFF) is highlighting new Rotary Air Blast (RAB) drill results from its 100%-owned Atlanta Gold Mine Project in Nevada, focusing on the East Ridge and Silver Park targets. The company frames the RAB program as both a resource growth and waste reclassification initiative, aiming to identify above cutoff grade mineralization in material previously considered waste. The announcement emphasizes specific high-grade, near-surface oxide gold intercepts, notably 2.58 g/t Au over 29.3m at East Ridge and 0.46 g/t Au over 14.6m at Silver Park, with several holes bottoming in mineralization at the 30m drill limit. Management, through VP Exploration Justin Daley, underscores the significance of these results as the best RAB intercept at East Ridge to date on a grade-thickness basis and stresses the potential for further shallow mineralization. The company also details its rigorous QA/QC protocols and notes that all technical information has been reviewed by a Qualified Person under NI 43-101. The tone is confident, with forward-looking statements about follow-up deeper RC drilling and the ongoing 40,000m RC drill program.

What the data suggests

The disclosed RAB drill results at East Ridge include 2.58 g/t Au over 29.3m (AT26ERB-70), 1.04 g/t Au over 26.8m (AT26ERB-63), and 0.47 g/t Au over 29.3m (AT26ERB-62), all starting at surface, with some holes ending in mineralization at the maximum 30m depth. At Silver Park, results include 0.46 g/t Au over 14.6m (AT26SPB-78) and 0.30 g/t Au over 17.1m (AT26SPB-85), both near surface and bottoming in mineralization. These grades are significant for oxide gold at shallow depths and suggest potential for resource expansion or reclassification of waste material. The Atlanta Project’s current NI 43-101 compliant resource stands at 1,020,000 ounces Au measured and indicated (27.7Mt at 1.14 g/t) and 99,000 ounces inferred (3.6Mt at 0.84 g/t), calculated at US$2,200/oz Au and US$25/oz Ag. The company is running a 40,000m RC drill program in parallel, indicating substantial ongoing exploration investment. QA/QC protocols are robust, with one-in-twenty sample inserts and all assays processed at American Assay Lab. The data is technically detailed and supports the company’s claims of identifying new mineralization, but resource growth is not yet realized and will depend on follow-up RC drilling.

Analysis

The announcement provides detailed and specific technical results from RAB drilling at two targets, including assay grades, intercept widths, and locations, all of which are realised and well-supported by the disclosed data. The tone is positive, but the language remains proportionate to the evidence, focusing on actual drill results and the existence of an NI 43-101 compliant resource. Forward-looking statements are present but clearly separated from realised results, mainly describing plans for deeper RC drilling and the potential to grow resources. The ongoing 40,000m RC drill program signals significant capital outlay, but as this is an exploration-stage company, such investment is expected and not promotional. No exaggerated claims about imminent production or economic impact are made, and the technical disclosure is robust. The gap between narrative and evidence is minimal, with only mild optimism about future resource growth.

Risk flags

• ●The mineralization encountered in RAB drilling is limited to a maximum depth of 30 metres, and several holes bottomed in mineralization, so the full vertical extent and continuity are unknown until deeper RC drilling is completed. This creates uncertainty about the true size and economic potential of the new zones.
• ●Resource growth and reclassification of waste material are forward-looking goals; the current results, while promising, have not yet translated into an updated NI 43-101 resource or economic study. There is a risk that follow-up drilling may not confirm sufficient continuity, grade, or tonnage to materially impact project economics.
• ●The company is undertaking a large-scale 40,000m RC drill program, which requires significant capital outlay without guaranteed resource conversion or project advancement. If results from deeper drilling do not meet expectations, sunk exploration costs may not yield proportional value.

Bottom line

Nevada King’s latest RAB drilling at Atlanta’s East Ridge and Silver Park targets has yielded high-grade, near-surface oxide gold intercepts, with several holes ending in mineralization at the 30m drill limit. These results point to the potential for resource expansion or reclassification of waste, but the true scale and economic impact remain unproven pending deeper RC drilling. The company’s technical disclosure is detailed and credible, and the current NI 43-101 resource provides a solid baseline, but no new resource estimate or economic analysis accompanies this update. Investors should watch for results from the ongoing 40,000m RC program, as only successful follow-up drilling will determine if these intercepts translate into meaningful resource growth. The key takeaway is that while the technical results are encouraging, value realization is contingent on future drilling and resource modeling.

Announcement summary

(TSXV:NKG, OTCQX:NKGFF) Nevada King Gold Corp. announced drill results from its Rotary Air Blast (RAB) reconnaissance exploration program at the East Ridge Target (ERT), located immediately east of the Atlanta pit at its 100% owned, 130km2 Atlanta Gold Mine Project in eastern Nevada, USA. The RAB drilling aims to grow resource ounces and identify above cutoff grade mineralization in material that would otherwise be classified as waste rock in future resource pit models. The company also released RAB drill results from its Silver Park Target, located approximately 2km west of the Atlanta pit, which continues to identify near-surface, oxide mineralization. The RAB drilling campaign is in addition to the ongoing 40,000m Reverse Circulation (RC) drill program and serves as a rapid, cost-effective tool to test targets down to a maximum depth of 30 metres. Highlight near-surface oxide gold results from RAB drilling at the East Ridge Target include: Hole AT26ERB-70 intersected 2.58 g/t Au over 29.3m starting at surface and bottoming in mineralization; Hole AT26ERB-63 intersected 1.04 g/t Au over 26.8m starting at surface; and Hole AT26ERB-62 intersected 0.47 g/t Au over 29.3m starting at surface and bottoming in mineralization. At the Silver Park Target, Hole AT26SPB-78 intersected 0.46g/t Au over 14.6m starting at 14.6m depth and bottoming in mineralization, and Hole AT26SPB-85 intersected 0.30g/t Au over 17.1m starting at 12.2m depth and bottoming in mineralization. Additional assay results from RAB drilling at both targets are provided in Table 1, with gold equivalent (AuEq) values based on US$2,200/oz Au, US$25/oz Ag, and recovery averages from Phase II metallurgical work. The company plans to follow up on these RAB results with deeper RC drilling to evaluate the vertical and lateral continuity of the mineralized systems. The Atlanta Project hosts an NI 43-101 compliant pit-constrained oxide resource of 1,020koz Au in the measured and indicated category (27.7M tonnes at 1.14 g/t) plus an inferred resource of 99koz Au (3.6M tonnes at 0.84 g/t), based on US$2,200/oz Au and US$25/oz Ag. The effective date of the NI 43-101 Technical Report is September 6, 2024, with a report date of July 18, 2025, prepared by RESPEC (formerly Mine Development Associates). Justin Daley, VP Exploration, stated that Hole AT26ERB-70 is the best RAB intercept at East Ridge to date on a grade-thickness basis and highlights the potential of the zone. The company maintains rigorous QA/QC protocols, including the use of CRM standards, blanks, and duplicates on a one-in-twenty sample basis, and all samples are processed at American Assay Lab in Reno, Nevada. The scientific and technical information in the release has been reviewed and approved by Justin Daley, P.Geo., VP Exploration and a non-independent Qualified Person as defined by National Instrument 43-101.

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