Atlanta Gold Mine To Initiate Phase II Drill Program

VANCOUVER - Nevada King Gold Corp. announced its 2022 drilling plan at the Atlanta Gold Mine, located 264km northeast of Las Vegas at the southern end of the Battle Mountain Trend. Following up on the Company's recently completed Phase I drill program (62 RC holes totaling 5,065m), Nevada King will initiate in early April a 100-hole, Phase II drill program totaling 13,100m (43,000ft), comprising 10,000m of RC drilling and 3,100m of core drilling. This Phase II program will step-out and test the new high-grade discovery below the old Atlanta pit; which returned 5.34 g/t Au over 54.9m, 3.94 g/t Au over 41.2m, and 3.35 g/t Au over 64.1m from 3 holes all starting at surface. The program will also test additional high-priority targets over 1.2km of strike. Historical drilling along the old Atlanta pit includes major gaps and areas where drilling did not continue deep enough to fully penetrate projected high-grade core zones.

The Company's 2022 drilling is designed to (1) drill various gaps within the current resource zone, (2) step-out on defined gold mineralization to connect it to proximate high-grade intercepts, including from the Company's recent drilling, and (3) expand other areas of drill defined high-grade mineralization into areas of low historical drill density, such as at the southern end of the historical pit as well as between the historical pit and discovery hole AT21-003, located 560m north along strike. Step-out holes from AT21-003 will track the mineralization further northward.

Based on re-interpretation of the Atlanta geological model incorporating high-grade discovery intervals from its Phase I program, the Company is optimistic this Phase II drilling can result in a significant increase in the gold resource base at Atlanta. This potentially could include significant additions to mineralization within the current resource constraining pit shell, as well as expansion of the the resource outside of this pit shell.

Cal Herron, Exploration Manager, said, "Nevada King's maiden 2021 drill program at Atlanta was a tremendous success. Drilling has demonstrated the potential for significantly adding gold resource north, east, and south of the Atlanta pit as well as shallow, high-grade potential along the Atlanta Mine Fault Zone and extending down-dip to the west. It is now time to move forward with a far more ambitious and extensive program directed toward expanding the property's higher-grade potential both for its open pit and then underground mining scenarios. The 2022 drill program will utilize the same basic strategy that was used in 2021 – step off of known mineralization following gold gradients and geological vectors, thereby minimizing condemnation holes and maximizing "bang for our buck". With the experience gained in 2021, Nevada King is now well positioned to substantially increase both grade and tonnage at Atlanta, and we anticipate an exciting 2022 season."