Grassroot Exploration Work On Three Projects

VANCOUVER - K2 Gold Corporation reported exploration update for work completed at the Mojave, Si2, and Wels projects during the 2024 season. The Mojave Project Draft Environmental Impact Statement (DEIS) is complete. Presently the DEIS is undergoing Bureau of Land Management inter-agency review prior to finalization. Prospecting and sampling completed at the at the high-grade Gold Valley target returned the first-ever visible gold from the Mojave Project. Final assays are expected later this month. Detailed prospecting and sampling at the Soda Canyon copper trend. First rock sampling program at the Cerro Gordo target area.

Si2 Project geological studies designed to vector towards stronger mineralization and better understanding of the gold-bearing epithermal system are near completion. Down-hole alteration analysis of 2023 drill core - Age dating - Fluid inclusion analysis.

Wels Project first pass soil sampling conducted over the unexplored western half of the property 764 soil samples collected.

During the 2024 exploration season K2 focused on grassroots exploration across its project portfolio while continuing to advance permitting at the Mojave Project through the completion of an Environmental Impact Statement (EIS). Exploration work focused on generating new exploration targets through surficial sampling, prospecting and geological mapping. A prospecting and mapping campaign was undertaken at the Mojave Project to follow up on high-grade gold and copper samples collected from the Gold Valley and Soda Canyon targets, respectively. Additional sampling was completed at the Dragonfly and Flores target areas, with a project-wide total of 74 samples collected.

At the Gold Valley target, work was focused on following up on previously reported high grade gold samples from the target area; including samples up to 208 g/t Au(1). A total of 38 rock samples were collected at Gold Valley in 2024. Assays are currently pending; however, fine grained visible gold was noted in at least two of the samples. This is significant as it is the first known occurrence of visible gold on the Mojave property despite numerous high-grade occurrences. Gold Valley is located approximately 2km north-northwest and on trend of the Dragonfly Zone, where K2 drilled 86.9m grading 4.0 g/t Au in 2020.

At Soda Canyon, 21 rock samples were collected along a 2km long northwest-southeast trend of copper mineralization hosted by quartz-carbonate veining along northwest trending structures in favourable limestone horizons. Limited historic exploration has occurred in the area and work in 2024 identified several historical workings and located multiple previously unknown zones of mineralization. The copper (± silver-base metal) mineralization is on trend of similar mineralization observed at the Stega target 4km to the southeast. Together, the zones from a semi-continuous northwest trend of strongly anomalous copper over 5km in strike length. Assays for the 2024 samples are currently pending and will be reported in due course.

Initial prospecting and mapping was also conducted at the Cerro Gordo target area, located in the northwest corner of the Mojave property. The work was focused on verification sampling along a 750m wide x 3km long, northwest trending zone of gold, silver, copper, and/or base metal mineralized zones with numerous historic workings. The mineralization includes skarn, replacement, and structurally controlled vein style targets adjacent to a strongly altered, fractured, and locally mineralized quartz-monzonite intrusive.

A total of 105 samples were collected by K2 at Cerro Gordo over the entirety of the northwest-southeast trend. Prospecting has confirmed the presence of a mineralization related to a large intrusion-related system over the entirety of the trend, with multiple target areas noted along the margins of the intrusive. Assays for the samples are pending and will be released in due course. The core of the Cerro Gordo project is situated on road-accessible patented claims which K2 has optioned from the vendor.