K2 Gold Corporation announced its plan to commence drilling at the Company's Si2 Project, located near Tonopah, Nevada, on or about January 21, 2026. The drill program will test a series of high-priority structural and geochemical targets generated through comprehensive geological studies completed in 2025, along with recently acquired geophysical information, including fluid-inclusion analysis, alteration mineralogy, age dating, an integrated structural interpretation, and IP survey. These studies collectively indicate that Si2 represents the upper levels of a large, intact low-sulphidation epithermal system proven to carry gold, with strong potential for higher-grade gold mineralization preserved at depth.
Highlights. The drill program is fully funded and will consist of up to 2000 metres over 4-6 drill holes. Drilling is expected to commence on January 21, 2026.
In 2023 K2 drilled 4 holes at the Si2 Project. Drilling demonstrated increasing gold values with depth; however, the holes were terminated in anomalous but sub-economic gold grades. Subsequent alteration and fluid inclusion studies indicate that the 2023 drill holes were within 50- 100 meters of the interpreted boiling zone of the epithermal system.
The 2026 program will test priority structural corridors at greater depths, targeting the interpreted optimal boiling-zone horizon of the epithermal system. Geological characteristics observed at Si2 are considered analogous to AngloGold Ashanti's nearby 16.3Moz Au Silicon Project which has emerged as one of the most significant new epithermal gold discoveries in the Walker Lane Trend. The Si2 Project shares multiple geological and structural characteristics with AngloGold Ashanti's Silicon Project: Volcanic-hosted, low-sulphidation Epithermal systems in Nevada.
both located within a highly endowed gold belt that favours structurally controlled deposits. Steam-heated alteration "cap" at surface. Zoned epithermal architecture.
alteration patterns at Si2 are consistent with being above the productive gold horizon, similar to early-stage interpretations at Arthur. Depth as the primary opportunity. both systems rely on drilling beneath shallow, surficial alteration to test the projected boiling zone where grades commonly improve.
Program Overview. The drill program will comprise 4-6 reverse circulation holes totaling up to 2,000 metres, designed to systematically test the interpreted boiling-zone horizon at depth along the highest-priority structures defined by the Company's integrated geological model. Epithermal Deposits.
Epithermal systems are a major deposit class globally, with many important examples located within the Walker Lane Trend of Nevada and eastern California in the western United States. Epithermal deposits have historically been important sources of gold and silver due to their near-surface, structurally controlled mineralization. When preserved and not deeply eroded these systems can host blind-to-surface, vertically zoned mineralization which may have been historically overlooked.
