Exploration Plans For S12 And Wells Projects

VANCOUVER - K2 Gold Corporation reported on the 2022 exploration plans for the Si2 and Wels projects, located in Nevada, USA and the Yukon Territory, Canada. At the Si2 Project the exploration program is planned to systematically evaluate the property utilizing the mineralization model of a steam heated alteration system overlying epithermal gold mineralization analogous to AngloGold Ashanti's Silicon Project. The Si2 Project was initially identified by the same exploration team that identified and staked the Silicon Project and was staked based on its strong geological similarities. K2 has successfully completed a remote sensing alteration survey utilizing high resolution imagery from the WorldView-3 satellite, the results from which indicate extensive steam heated alunite-kaolinite-buddingtonite alteration at surface coinciding with anomalous mercury in rock samples.

Next steps will include approximately 60 line-kilometers of ground magnetic surveys aimed to identify geologic structures that may contribute to mineralization. In conjunction with the ground magnetic survey a drone based orthophotogrammetry survey will be completed to generate a Digital Elevation Model (DEM) and obtain detailed aerial imagery of the project area. These surveys will be followed by detailed structural geologic mapping, as well as rock chip sampling, TerraSpec analysis and soil geochemical sampling. Upon compilation and evaluation of this data K2 intends to conduct a detailed Induced Polarization (IP) Survey over areas of interest with the goal of developing targets for a maiden drill program.

The Company is also planning a return to the Wels Project in the Yukon for the 2022 field season, where previous exploration campaigns, including two diamond drill programs, identified high-grade structurally controlled gold mineralization within a broadly NW-SE trending structural corridor at the Saddle target. Exploration plans for 2022 will focus on identifying additional parallel or subparallel structures with coincident soil and trench gold anomalism though a ground magnetic-VLF (Very Low Frequency) survey over the Saddle, Chai, and Pekoe targets. In addition, the survey will be extended to the west to test a significant portion of the low-lying covered area, to determine the extent of those structures which control mineralization under cover.

"As we begin the 2022 exploration season, I look forward to discovering the source of the massive alteration system at the Si2 Project. The combination of an extensive steam-heated alteration system and anomalous mercury in rock samples we are seeing at surface on the property is incredibly exciting. Completing a detailed structural mapping study, along with additional surficial geochemical sampling and TerraSpec analysis will be critical to assist in targeting the next phase of geophysical surveying. Once we complete this next phase of field work, we expect to be in a position to target the first drill holes into this style of system using a modern understanding," said President and CEO, Anthony Margarit.