Nevada King Gold Corp. provided an update on its Phase II, 60,000m drilling program at its 5,166 hectare (51.6km2), 100%-owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend, 264km northeast of Las Vegas, Nevada. Highlights: To date in the Phase II program 323 holes totaling 57,392m have been completed, comprising 17 core holes totaling 1,587m and 306 reverse circulation holes totaling 55,804m.

Assays from 186 holes totaling 32,369m from the Phase II program have been reported to date with results pending for 137 drill holes totaling 25,023m. Core drilling is focused along high-grade corridors for ongoing metallurgical testing and confirmation of RC results. RC drilling is following up on the recent bonanza-grade intercept of 37.16 g/t Au over 29m in AT23WS-44 (October 2, 2023), tracking high-grade structures in the West Atlanta Graben Zone and along the Atlanta Mine Fault Zone, as well as targeting the expansion of mineralization southwards in the recently discovered South Quartzite Ridge Target where the Company recently intercepted 2.15 g/t Au over 96m in AT23HG-34 and 1.89 g/t Au over 114.3m in a new blind discovery.

This resource estimate is based on 71 drill holes completed up to 2020 by prior operators. To date, Nevada King's Phase I and Phase II programs have added a total of 386 holes and 63,273m to the Atlanta project database (63 holes totaling 5,881 m in Phase I and 323 holes totaling 57,392 m in Phase II). This drilling has stepped out on the mineralization incorporated in the 2020 estimate and importantly has made several new discoveries on which step-out drilling continues northward and southward outside of the resource model, as well as westward into the WAGZ.

To date Nevada King has completed five-fold the amount of drilling that was utilized in the 2020 resource estimate. The buggy-mounted RC drill recently completed 13 widely spaced reconnaissance RC holes around the Western Knolls Target, located 5.6km west of the Atlanta pit, and is currently engaged in definition drilling around the North Extension Target 500m north of the pit. The core drill recently completed three PQ-size metallurgical holes through the silica breccia horizon within the pit and is now working 200m northwest of the pit to sample high-grade zones within the volcanic section.

Core recovery has been high, particularly compared to historical core recoveries. With numerous shallow reconnaissance targets to test, as well as in-fill and step-out holes planned to add to and reclassify the existing resources, there are no plans to slow down the drilling anytime soon. Road construction is steadily advancing drill access to the East Ridge and South Quartzite Ridge Target areas.

Regional geologic mapping and sampling is ongoing throughout the Atlanta District in an effort to identify new targets inferred from the CSAMT surveys. QA/QC Protocols. All RC samples from the Atlanta Project are split at the drill site and placed in cloth and plastic bags utilizing a nominal 2kg sample weight.

CRF standards, blanks, and duplicates are inserted into the sample stream on-site on a one-in-twenty sample basis, meaning all three inserts are included in each 20-sample group. The Atlanta Mine is a historical gold-silver producer with a NI 43-101 compliant pit-constrained resource of 460,000 oz Au in the measured and indicated category (11.0M tonnes at 1.3 g/t) plus an inferred resource of 142,000 oz Au (5.3M tonnes at 0.83 g/t). See the NI 43-101 Technical Report on Resources titled "Atlanta Property, Lincoln County, NV" with an effective date of October 6, 2020, and a report date of December 22, 2020, 2020, 2020, 2020.