FONSI Is Step Towards Commencing Phase Three At Atlanta Gold Mine

VANCOUVER - Nevada King Gold Corp. has received a Finding of No Significant Impact, or "FONSI", from the U.S. Bureau of Land Management (BLM) for a minor modification to its existing 45km2 Plan of Operations, a critical step towards commencing its Phase III regional drill program at the Atlanta Gold Mine Project along the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada.

With the FONSI in place, Nevada King is currently posting an increase to the Atlanta reclamation bond and, upon acceptance, expects to receive a final Approval Letter for the modification to its Plan of Operation. The Company is planning a 59-hole, Phase III regional drilling program testing 12 regional targets throughout the district. This is in addition to ongoing drilling at the Wild West Target (4.67 g/t Au over 42.7m, including 7.94 g/t Au over 18.3m, (August 19, 2024 release), located adjacent to the Atlanta resource zone.

New road construction will begin along portions of the South Quartzite Ridge Target (SQRT) upon receipt of the final Approval Letter from the BLM. Construction, which will include three road extensions on the east face of the SQRT, is expected to take 8-12 weeks to complete. Ten pads along the new roads are designed to test a northern portion of the 2.5km long SQRT, following up on the Company's recent discovery of 6.28 g/t Au over 54.9m at the northern end. Sixteen additional drill sites are planned along the west side and along the southern extent of the SQRT that will be accessed by existing roads. The SQRT is located along trend of the Atlanta resource zone and coincides with a major anticline that is thought to have played a major part in the mineralizing events at Atlanta. This drill campaign represents the first time this target has been drilled, aside from two shallow historical holes at the southern end that averaged just 56m in depth.