Southwestern Edge of Atlanta Gold Mine Pit Gold Intercepts Reported

VANCOUVER - Nevada King Gold Corp. reported results from three core holes drilled at the Atlanta Gold Mine, located 264km northeast of Las Vegas at the southern end of the Battle Mountain Trend. The AT21-068C intercepted 21.0m averaging 3.28 g/t Au beginning at a depth of 99.1m at the southwestern corner of the historical Atlanta pit. The entire core intercept consists of oxide material and includes a higher-grade intercept of 5.7m averaging 7.62 g/t Au beginning at 100.5m. The hole was drilled within an area of low historical drill density, and was sited approximately 70m southwest of high-grade hole AT21-062, which returned 54.9m averaging 5.35 g/t Au. As such, AT21-068C significantly expands upon the known zone of high-grade gold mineralization that was found at the bottom of the Atlanta Pit in 2021. Hole AT21-003C was collared a few meters from RC discovery hole AT21-003, (which returned 8.26 g/t Au over 9.1m, released November 22, 2021, located approximately 500m north of the historical Atlanta pit). This hole was intended to check the higher-grade gold values drilled in the RC hole, but a complete loss of circulation at 163.9m precluded such an examination. Both AT21-003C and the RC hole entered the mineralized zone at the same depth and the gold grades in each hole are very similar continuing to 163.9m depth. At the point prior to lost circulation in AT21-003C the core had intersected oxide mineralization averaging 6.95m of 4.65 g/t Au including a higher-grade interval at the very bottom of the hole grading 1.7m of 12.82 g/t Au. Hole AT21-002C was collared at a 10m offset from RC hole AT21-002 (returned 22.9m averaging 0.71 g/t Au starting at 82.3m depth, released November 22, 2021), the purpose of which was to determine the degree to which gold grades intersected in the core varied from those in the RC hole. The RC hole was drilled with water so there was some concern that water may have separated Au-bearing fine-grained oxides from the drill samples, an issue that can occur with wet RC drilling. As the Company intends to conduct wet RC drilling during the 2022 program, investigating this possibility was of key importance. AT21-002C returned 18.3m averaging 0.56 g/t Au starting at 86.3m depth and a close examination of the intercepts in both holes shows similar gold distribution. This gives the Company confidence that the probability of washed-out gold and downhole contamination is low. Preparations are currently being made for drill pads and road access to initiate the 2022 drill program. It is anticipated that the Company will commence drilling by June.

Exploration Manager Cal Herron, said, "Hole AT21-068C is very significant in demonstrating the extent of the known zone of high-grade gold mineralization present at the bottom of the Atlanta Pit. Consequently, the Company's 2022 drilling program will extend northward and southeastward from AT21-068C along the wide gaps that exist between holes drilled in 2021 and the historical drill coverage . This will tie together the high grade mineralization encountered in AT21-062 to the shallow mineralization seen in the 2021 holes drilled along the southern end of the open pit, filling a highly prospective, glaring gap in the historical drill pattern that was caused by very poor access. This poor access zone overlies areas mined in the late 1800s to early 1900s via underground methods. Nevada King is currently improving access roads and pads within both gap areas to allow for vertical pre-collar and core drilling. Core twin holes AT21-002C and AT21-003C confirmed gold intercept lengths in their respective RC holes AT21-002 and AT21-003 and reasonably confirmed gold grades as well. More twin core holes are planned in 2022, but these initial twin tests tell us the 2021 RC results agree well with the core results. We see no evidence of downhole contamination in the RC holes that could lead to either upgrading or downgrading of gold values."