Drill Rig Mobilised To East Ridge Target To Test At-Surface At Atlanta Gold Mine Project

VANCOUVER - Nevada King Gold Corp. reported the initiation of its 2024 reconnaissance drilling program at its 5,166 hectare (51.6km2) Atlanta Gold Mine Project, located in the Battle Mountain Trend 264km northeast of Las Vegas, Nevada. The Company recently mobilized a Reverse Circulation (RC) drill rig to drill test the central portion of the East Ridge Target (ERT), which strikes approximately 1,000m north-south and is located 300m east of the historical Atlanta Pit and current resource zone.

Drilling at the ERT will initially occur at six sites along newly constructed roads to test for depth and strike extensions of gold surface anomalies that were identified by the Company through a 2021 surface mapping and sampling program. High angle faults and strongly altered intrusive dikes are present at surface with several gold rock chip and soil samples exceeding 2 g/t Au. Results from the Company's CSAMT (Controlled-Source Audio-Frequency Magnetotellurics) geophysical surveys conducted in 2022 and 2023 corroborate these gold surface anomalies and outline near-vertical bodies of low resistivity that are interpreted as high-angle intrusions cutting up through the highly resistive dolomite sequence.

This same type of CSAMT anomaly is observed 300m west throughout the Atlanta resource zone where drill data has consistently identified low-resistance, altered intrusions welling up into the highly resistive Paleozoic basement rocks. Early-stage, more iron-rich igneous bodies intruded upward and laterally into the older basement rocks along major faults resulting in widespread decalcification, brecciation, and silicification within the carbonate sequence, which subsequently provided the plumbing system for gold-mineralizing fluids closely associated with later-stage, more quartz-rich and gold bearing intrusions. The deep, low resistivity zone underlying the ERT appear to be an eastward continuation of the same intrusive bodies underlying the West Atlanta Graben Zone, which in turn suggests the mineralization seen along the ERT is potentially correlative with the same intrusive-dominated mineralization seen in the Atlanta resource zone. Nevada King recently completed road and drill pad construction on the ERT with drilling now underway.

Cal Herron, Exploration Manager, said, "We look forward to results from drilling at the ERT. If the gold mineralization present at surface does indeed extend to depth it would confirm the presence of a satellite gold system at Atlanta while also offering valuable insights into other exploration targets within the Atlanta District. The CSAMT interpretations suggest a high-angle connection with intrusive bodies at depth underlying thick blocks of highly resistive (presumably unaltered and unmineralized) carbonate basement rock. This connection to deep sources for gold-bearing fluids potentially opens up a host of new targets scattered throughout the Atlanta District where very similar but much larger CSAMT anomalies occur within shallow carbonate basement terrains that have yet to see any exploratory drilling, including one immediately east of the East Ridge.”