Nevada King Gold Corp. announced assay results from four reverse circulation (RC) holes recently completed at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend. This drilling was designed to test the high-grade feeder zone associated with the Atlanta Mine Fault Zone (AMFZ) west of the historical Atlanta Pit.

The feeder zone is located within the mineralized footprint of the Gustavson resource zone, however, this area was sparsley tested by historical drilling that failed to penetrate deep enough. Drilling Highlights: Gold grade and mineralized thicknesses returned in today's holes are considerably higher than those found in nearby historical holes. This is demonstrated in Table 3, which compares two groups of holes along section 22-06N.

In Group #1^, the two Nevada King holes AT22HG-16 and AT22HG-17 are more than double the thickness compared to three nearby historical RC holes and are higher grade. The two Nevada King holes in Group #2 greatly exceed the nearby historical holes in both grade and thicknesses, with AT22HG-19 showing a 50% increase in both grade and thickness compared to Gold Field's AC-4; Three of holes bottomed in mineralization, with the highest grades found at depth. Prior drilling did not penetrate deep enough and mineralization is still open at depth within the western block of the Atlanta West Fault (AWF).

AT22HG-16 bottomed in 3m of 9.16 g/t Au and 39.2 g/t Ag, AT22HG-17 bottomed in 10.6m of 2.69 g/t Au, while AT22HG-19 intercepted 16.8m of 4.76 g/t Au and 86.8 g/t Ag near the bottom of the hole. Holes include significant intervals of silver mineralization. Atlanta historically produced 800,000 ounces of silver and the Gustavson National Instrument 43-101 (NI 43-101) resource includes an estimated 4.2Moz of Measured and Indicated silver resource and 1.2Moz of Inferred silver resource.

Drill results indicate silver mineralization is concentrated within the AMFZ, with grades exceeding those previously drilled by the Company outside of the AMFZ in 2021 and 2022. As such, silver could end up playing a more significant role at Atlanta moving forward. The Company is working on a compilation of significant silver intercepts from its prior drilling.

Holes AT22HG-16 and AT22HG-17 intercepted gold-mineralized intrusive rock starting around 180m depth. Mineralization occurs within and around the dacite porphyry intrusion, which strongly suggests the Atlanta gold system is intrusive-dominated and tied to a larger intrusive body at depth. This intrusive association is important because it opens up potential for a much larger deposit at depth and for a wider range of deposit types.

As such, the mineralization can now be characterized as a distal-disseminated type and related to deeper-seated intrusive processes similar to what is seen above and around large porphyry copper deposits. This puts Atlanta into a very different league of potential deposit types and it can only speculate at this time as to what might be found at greater depth, either in the volcanic/sedimentary section or beneath the Eureka Quartzite in the Pogonip Limestone unit.