At-Surface Oxide Gold Discovery At The East Ridge Zone

VANCOUVER - Nevada King Gold Corp. reported on 15 reverse circulation (RC) reconnaissance holes drilled in and around the East Ridge Target (ERT) at its 5,166 hectare (51.7km2), Atlanta Gold Mine Project, located in the Battle Mountain Trend 264km northeast of Las Vegas, Nevada. Drilling at the ERT commenced in June with five holes located to test coincident geophysical and geochemical anomalies. A fence of 10 holes were also drilled between the ERT and the Atlanta Resource Zone. The ERT covers a low resistivity zone that measures 100m-wide, strikes 1,000m north-south and is located 300m east of the historical Atlanta Pit and resource zone.

First pass drilling at the ERT has led to the discovery of an at-surface oxide gold zone called the East Ridge Zone (ERZ) that is located within the overall ERT area and includes the highlight interval of 1.32 g/t Au over 22.9m in AT24ET-11. Gold mineralization was intercepted in five of today's widely spaced holes over a 100m x 200m area, with mineralization hosted in silica breccia and mineralized intrusive rock down to a depth of 57m where it remains open. The ERZ represents the first satellite gold discovery made at Atlanta and demonstrates the project's district-scale potential.

Five highlight holes intercepted high-angle, intrusive-related gold mineralization bounded laterally by massive, impermeable dolomite. This geological setting differs substantially from that seen in the Atlanta resource zone, where gold occurs along and immediately above a low-angle unconformity separating dolomitic and quartzitic basement rocks from overlying volcanic rocks. The new geological setting seen at the ERT lends itself to numerous additional targets identified by the CSAMT data throughout the Atlanta district, including the much larger Jumbo Target located a further 300m east of the ERT, which measures 400m wide by 3,000m north-south.

Cal Herron, Exploration Manager, said, "The discovery of the ERZ marks a major milestone for our exploration efforts at Atlanta. Aside from representing the first satellite gold zone discovered in the district, it was primarily identified based on a geophysical anomaly. We have long hypothesized that Atlanta has district-scale potential to host multiple gold zones. However, these potential zones are hard to find when relying on geology alone, as they are obscured by extensive alluvium and basement rock cover throughout the district. Today's discovery gives us the confidence that we can utilize geophysics as an important tool to hone in on additional mineralized zones. This opens up numerous areas within the Atlanta District where very similar anomalies are seen in the CSAMT data but on a much larger scale. A good example is the large low resistivity zone (red color) immediately east of the ERZ that projects upward into the carbonate sequence from a much larger low resistivity body beneath it. The dikes and mineralization within the ERT appear to originate from this large, deeper resistivity low. The horn-shaped low resistivity zone (red color) at the far right of is potentially the upper portion of a large igneous mass intruding upward into the carbonate sequence and could represent a mineralized zone similar to the ERZ, albeit on a larger scale.

"By comparing the past and present drill hole locations to the inferred intrusive pattern found in our CSAMT data, it is clear that very little of this prospective ground has been drill-tested. As our 2024 reconnaissance exploration program progresses, we now have numerous targets to chase in all directions from the current resource zone, and considering the strong intrusive tie to Au/Ag mineralization, the Company is well positioned to make more new discoveries."