New Areas Of Gold Mineralization Intersected At Atlanta Gold Mine Project

VANCOUVER - Nevada King Gold Corp. reported six vertical reverse circulation ("RC") holes recently completed at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend. Mineralization occurs along sub-horizontal horizons generally dipping gently westward; true mineralized thickness in vertical holes is estimated to be between 85% and 95% of reported drill intercept length.

The holes plotted on Section 22-9N were drilled across the high-grade feeder zone associated with several strands of a braided network of structures comprising the 150m-wide Atlanta Mine Fault Zone ("AMFZ"), which lies between the East Atlanta and West Atlanta Faults. These vertical holes intercepted new areas of high-grade gold mineralization on this section that were not intercepted in historic drilling. These new high-grade areas were targeted based on Nevada King's recent revised modeling of gold mineralization across this section line which differs significantly from historic interpretations.

The highest gold grades occur within blocks between the Atlanta King and East Atlanta Faults as evidenced by AT23NS-58 and AT23NS-64 and nearby holes AT21-63 and AT22NS-59.  In similar fashion, a 30m-wide block on the eastern side of the West Atlanta Fault is also host to higher-grades, as seen in AT22NS-87 and 88. A number of historical angle holes did intersect this zone, but very few of them fully sampled the complete mineralized thickness. Significant differences are apparent in gold grades and thicknesses in NS-87 and NS-88 (47.3m @ 2.16 g/t and 45.7m @ 1.28 g/t). The upthrown "horst" block immediately west of the Atlanta King Fault typically hosts more moderate grades and thicknesses compared to the two high-grade zones on either side of it. However, AT22NS-65 tested this horst block and returned 1.79 g/t Au over 38.1m, which is generally thicker and higher grade compared to sections further south.

Hole AT22HG-11, collared west of the West Atlanta Fault penetrated mineralized volcanics in the West Atlanta Graben target but was lost at a shallow depth, bottoming in mineralization. Drilling across the West Atlanta Graben along the western extension of line 22-9N will commence shortly, filling in a large information gap that currently exists within the historical drill pattern.

Nevada King's holes along 22-9N are very similar in grade and mineralized thickness to holes previously released along Sections 22-5N, 22-6N, 22-7N, and 22-08N. The same pattern of: (1) high-grade grabens between the East Atlanta and Atlanta King Faults, (2) the moderate grade horst block west of the Atlanta King fault, and (3) the high-grade graben block east of the West Atlanta Fault, is repeated southward along each section, demonstrating excellent continuity of mineralization.

Cal Herron, Exploration Manager, said, "As our drill fences progress northward along the AMFZ we are seeing strong continuity in grade, thickness, and style of mineralization from section to section. We also start to see why many of the historical holes failed to pick up on the higher-grade mineralization localized in the numerous fault blocks and how this mineralization was largely missed by past explorers. The shallow high-grade mineralization immediately west of the East Atlanta Fault that we drilled into during our 2021 exploration program was completely missed by past explorers while the high-grade fault block along the east side of the West Atlanta Fault was under-represented in the historical drilling. Our new interpretation and geologic model is allowing us to effectively track both of these high-grade zones northward along the AMFZ, systematically defining the major fault components and associated mineralized blocks."