Fourth Drill Rig Mobilized To Atlanta Gold Mine Project

VANCOUVER – Nevada King Gold Corp. reported on the 2022 Phase II resource expansion and definition drilling at its 5,166 hectare (19.94 square mile), at the Atlanta Gold Mine Project located in the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada.

A fourth drill rig has been mobilized to Atlanta to further accelerate the Phase II drilling program. This truck-mounted Schramm 685 reverse circulation (RC) drill has been contracted from Envirotech Drilling LLC out of Winnemucca, Nevada, and is capable of drilling to 460m depth. The rig will be used for both pre-collar and deep RC holes.

The addition of a fourth rig will allow the Company to fast-track drilling along six parallel benches cut along the west side of the historical Atlanta open pit. The drill pattern tests the down-dip extension of the mineralized Atlanta Mine Fault Zone (AMFZ) immediately west of the N-S fence of holes drilled in 2021 at the bottom of the pit which returned high-grade intercepts including 41.2m averaging 3.94 g/t Au, 64m averaging 3.35 g/t Au, and 54.9m averaging 5.34 g/t Au, starting at or near surface. These six parallel rows of new holes will better define the average grade and geometry of high-grade gold mineralization down-dip along the AMFZ and better assess displacements of down-dropped fault blocks across the AMFZ.

To date the Company has completed 74 RC holes totaling 5,934m, 11 RC pre-collar holes totaling 1,349m, and 10 core holes totaling 831m. Seven batches of drill samples, representing 8,323m of combined core and RC have been delivered to American Assay Labs in Reno, Nevada. The Company reported initial assay results in September, including high-grade intervals of 120.4m of 1.49 g/t Au and 57.9m of 1.38 g/t Au, located south and southeast of the Atlanta pit. Further assay results are expected shortly.

Exploration Manager Cal Herron, P.Geo., said, “Our drills are now stepping into the western target zone where scattered historical RC and core holes indicate the presence of higher-grade mineralization along the down-dip extension of the AFMZ. Drilling is being conducted methodically with a focus on maximizing chip and core recovery. As winter is approaching, adding a fourth rig will ensure sufficient hole density for a more comprehensive understanding of gold grade and geometry across this high grade target. By increasing the number of deep pre-collar holes, we will have an opportunity to keep our core drill turning well into the winter in order to supply additional metallurgical core samples and provide QAQC checks on deep RC drill results. With the program running smoothly and drill productivity increasing with the addition of another rig, the Atlanta Project is well positioned to meet its 2022 goal of further expanding the mineralized envelope and tying together the numerous bands of high-grade mineralization intersected in historical holes.”