Phase II Drill Program At The Atlanta Gold Mine Project

VANCOUVER - Nevada King Gold Corp. reported on the 2023 Phase II, 30,000m resource expansion and definition drilling at its 5,166 hectare (51.6km2), Atlanta Gold Mine Project, located in the Battle Mountain Trend 264km northeast of Las Vegas, Nevada.

Since the start of the the Phase II Atlanta drill program, Nevada King has completed 174 reverse circulation (RC) holes totaling 25,250m and 14 core holes totaling 1,215m, for a total of 26,465m drilled. To date Nevada King has reported assays from 97 holes covering 11,964m with results from 91 drill holes totaling 14,501m currently pending.

The Company is currently utilizing two rigs, which are focused on drilling the newly discovered West Atlanta Graben, a large-scale and potentially company-changing target, striking approximately 500m north-south on the west side of the West Atlanta Fault. Recent drill results and an updated interpretation of this target were announced, with highlight intervals including 1.03 g/t Au over 181.4m and 0.98 g/t Au over 163.1m. The Company plans to procure additional rigs to accelerate its Phase II drilling program as operational conditions improve through spring.

Cal Herron, Exploration Manager, said, "Phase II program results to date have been successful in outlining two strongly mineralized zones, the Atlanta Mine Fault Zone (AMFZ) and the newly identified West Atlanta Graben Target (WAGT). Both zones remain open and will see additional drilling. The AMFZ is roughly a 150m wide braided network of veins traced over a 600m north-south strike length. It is characterized by 30-50m thick beds starting at the bottom of the historic Atlanta Pit that are down dropped to the west. The area is highly fractured and faulted and is fed by multiple fluid pathways responsible depositing the gold mineralization. The AMFZ is primarily hosted in silica breccia and returns average grades of 2-4 g/t Au, with high-grade intervals that exceed 1 oz/t gold. The West Atlanta Graben Target is located directly west of the AMFZ and principally is a 75m to 200m thick mineralized zone averaging between 0.5 g/t and 1.5 g/t Au. The WAGT target runs 500m north-south and 200m east-west. Mineralization is hosted in volcanics and is strongly oxidized, and is being tested for it's amenability to heap leach extraction. Aside from these two zones, several other high priority drill targets remain. Additional drilling will further test the North Extension and the South Extension Targets. The East Ridge Target remains completely undrilled, while historic drilling west of the West Atlanta Graben also shows great promise for further gold mineralization.

Starting with our initial drill program in 2021, it soon became apparent more mineralization exists than was evident in the historical drilling. The Company's closer spaced, vertical hole strategy revealed a complicated pattern of sub-parallel fault offsets within the mineralized zone, and the ensuing structural model allowed us to predict where to place step-out holes in order to maximize both grade and thickness. The historical drilling had already given us a good idea of what the low grade mineralization looked like, but our new structural model has given us the means to discover higher grade and greater thickness to add to the overall resource along the numerous feeder structures responsible for mineralizing the deposit. There is a lot more to find here and Nevada King will keep aggressively pursuing more ounces."