Positive Phase 2 Metallurgical Test Results At Atlanta

VANCOUVER – Nevada King Gold Corp. reported on the Phase 2 metallurgical testing program at its 12,000 hectare (120km2) Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada. Phase 2 results confirm and expand on the Phase 1 results, while delivering a more simplified flowsheet with potential for lower operating and initial capital costs, and continuing to demonstrate that gold and silver mineralization at Atlanta is well suited to conventional oxide processing methods widely used in Nevada.

Robust Recoveries: Combined, Phase 1 and 2 test work consistently demonstrated strong gold recoveries across key mineralized units using both fine milling and heap leaching methods. Fine milling (200-mesh grind, P80 = 75 µm) shows a weighted average gold extraction of 90.1% for the non-silicified volcanics, 86.1% for the silicified volcanics, and 87.7% for the silica breccia (SBX). Column leaching of conventional crushed (combined P80 = 12.5 & 25.0 mm columns) shows a weighted average extraction of 83.1% for the non-silicified volcanics (heap leachable).

Dual Recovery Pathways: Results continue to support a development path utilizing conventional milling for higher-grade material, while lower-grade, non-silicified volcanics are suitable for run of mine (“ROM”) heap leaching. Simplified Flowsheet: The revised proposed flowsheet has been simplified and is expected to result in lower operating and initial capital costs by replacing three-stage crushing with a primary and secondary crusher and eliminating the convey-stack process. Additionally, while the prior flowsheet envisioned two separate heap leach processes, the new simplified flowsheet includes just one, consisting exclusively of ROM material.

Comprehensive Test Program: Phase 2 tested 26 drill core composites, adding to the 22 drill core composites and three bulk samples tested in Phase 1, which together provide a comprehensive dataset of the various lithologies and grade ranges found throughout the Atlanta resource.

Phase 2 metallurgical test work at Atlanta has been supervised by Gary Simmons (MMSA QP Number: 01013QP), formerly the Director of Metallurgy and Technology for Newmont Mining Corp. Mr. Simmons also supervised the Phase 1 metallurgical test work at Atlanta and has managed numerous metallurgical testing programs in the Great Basin with characteristics similar to those found at Atlanta.

The Phase 2 results refine the findings from Phase 1, that conventional oxide milling of the silicified volcanics, SBX and dolomite material types will be suitable to process the Atlanta mineralization. The non-silicified volcanics are amenable to conventional ROM heap leaching. The inclusion of HPGR will provide a relatively lower overall operating cost for SBX compared to alternatives such as a SAG/Ball mill processing. The Phase 2 testing provided additional clarity on the metallurgical characteristics of a wider variety of rock type subunits included in the resource area and is another step in de-risking the Atlanta Gold Mine project.