VANCOUVER - Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) ('Nevada King' or the 'Company') is pleased to announce assay results from 32 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 includes eight holes designed to further define the high-grade Atlanta Mine Fault Zone ('AMFZ') at the bottom of the historical Atlanta pit, together with 24 shallow holes drilled to test waste dumps from previous mining north and west of the historical pit.
Cal Herron, Exploration Manager of Nevada King, stated, 'As reported today, the RC holes located at the bottom of the Atlanta Pit were positioned to firmly establish the location and attitude of the AMFZ's eastern boundary, prior to initiating the deeper drilling now underway to the west on the high-grade zone's down-dip extension. We now have a much better understanding of how the Atlanta gold deposit formed, of the host geology and of the controls on the spatial distribution of gold mineralization (see detailed discussion below) that is significantly enhancing our drill targeting. The Company has been rehabilitating benches in the historical pit over the past four months, work that will facilitate drilling of critical structures that were inferred from deep angle holes drilled by previous operators from sites west of the pit. Drilling these structures with predominantly vertical holes will make for a much more accurate structural interpretation and be significantly more cost effective compared to the historical angle holes. Many of the historical holes suffered from poor recovery or failed to fully penetrate the mineralized zones and vertical drilling from these sites should significantly improve recovery particularly in high-grade target areas. Prior operators were likely impeded by access and core recovery issues and we are looking at more thoroughly testing these high-grade target areas.'
About Nevada King Gold Corp.
Nevada King is the third largest mineral claim holder in the State of Nevada, behind Nevada Gold Mines (Barrick/Newmont) and Kinross Gold. Starting in 2016 Company has staked large project areas hosting significant historical exploration work along the Battle Mountain trend located close to current or former producing gold mines. These project areas were initially targeted based on their potential for hosting multi-million-ounce gold deposits and were subsequently staked following a detailed geological evaluation. District-scale projects in Nevada King's portfolio include (1) the 100% owned Atlanta Mine, located 100km southeast of Ely, (2) the Lewis and Horse Mountain-Mill Creek projects, both located between Nevada Gold Mines' large Phoenix and Pipeline mines, and (3) the Iron Point project, located 35km east of Winnemucca, Nevada.
The Company is well funded with cash of approximately $17 million as of October 2022.
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, as prepared by Gustavson Associates and filed under the Company's profile on SEDAR (www.sedar.com).
Cautionary Statements Regarding Forward Looking Information
This news release contains certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of Nevada King, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as 'expects', 'anticipates', 'believes', 'intends', 'estimates', 'potential', 'possible', and similar expressions, or statements that events, conditions, or results 'will', 'may', 'could', or 'should' occur or be achieved. Forward-looking statements in this news release relate to, among other things, exploration plans and the Company's ability to potentially expand mineral resources and the impact thereon. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Nevada King, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work given the global COVID-19 pandemic, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Nevada King does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
Contact:
Suite 1700, Park Place
666 Burrard Street
Vancouver, BC, V6C 2X8
Canada
Collin Kettell
FOUNDER & CEO
E: collin@palisades.ca
NEVADA KING GOLD CORP. 
