NEVADA KING ANNOUNCES RESULTS OF SHAREHOLDER MEETING AS WELL AS BOARD AND MANAGEMENT CHANGES

Rhea-AI Summary

Nevada King Gold (OTCQB: NKGFF) announced significant leadership changes following its shareholder meeting on August 14, 2025. The company appointed John Sclodnick as the new CEO, replacing Collin Kettell, who transitions to Chairman. Jeff Stieber joins as CFO, succeeding Bassam Moubarak.

Shareholders approved the re-election of Collin Kettell and William Hayden to the Board, while welcoming new directors John Sclodnick and Michael Doolin. The new CFO, Jeff Stieber, brings 19 years of finance experience, while Michael Doolin contributes 35 years of mining industry expertise, having previously led significant operational improvements at Karora Resources and Klondex Mines.

Positive

• Appointment of experienced mining executive Michael Doolin with proven track record of increasing production
• New CFO Jeff Stieber brings 19 years of finance experience across all mining project development phases
• CEO John Sclodnick has already helped drive increased institutional ownership

Negative

• Departure of three key executives including former CEO, CFO, and two board members

VANCOUVER, BC, Aug. 14, 2025 /PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQB: NKGFF) ("Nevada King" or the "Company") is pleased to announce that, at its meeting of Shareholders (the "Shareholders") held today, August 14, 2025, Shareholders approved the re-election of Collin Kettell and William Hayden to the Board of Directors (the "Board") of the Company . In addition, John Sclodnick and Michael Doolin were elected to the Board. Former directors Paul Matysek and Craig Roberts did not stand for re-election.

Effective immediately, Mr. Sclodnick will serve as the Company's Chief Executive Officer replacing Collin Kettell, who remains a Director of the Company. Mr. Kettell was appointed Chairman on the date hereof.  

In addition, the Company announces the appointment of Jeff Stieber as the Company's Chief Financial Officer, following the resignation of Bassam Moubarak.

"On behalf of the company, I'd like to thank Paul Matysek, Craig Roberts, and Bassam Moubarak for their significant contributions since inception. We wish them all every success in their future endeavours", stated Mr. Kettell. "I am also pleased to welcome Jeff Stieber, whose senior leadership experience across exploration, development, and production stages will be invaluable as we advance our Atlanta project, and I'm excited to see John Sclodnick take over the role as CEO of the Company. Over the past year, working closely with John has strengthened my confidence in his leadership, which has already helped drive increased institutional ownership. As Founder and Chairman, I am confident the Company is on a strong path forward under his guidance and I look forward to working in tandem with him to advance Nevada King."

Mr. Sclodnick, CEO stated: "It is an exciting time for Nevada King, with exploration momentum building across a number of highly prospective targets at our Atlanta project, to complement our high-grade and high-confidence resource. I'm eager to continue to build that momentum alongside our dedicated and energized team, to advance these targets, generate significant discoveries, and create real value for our shareholders."

All other matters put forward before the Shareholders at the meeting for consideration and approval, including the re-appointment of Davidson & Company LLP, Chartered Professional Accountants, as auditor of the Company at a remuneration to be fixed by the Board, and renewal of the stock option plan of the Company, as set out in the Company's Management Information Circular dated July 4, 2025, were approved.

Michael Doolin

With more than 35 years of experience in the mining industry, Mr. Doolin has led various companies in  driving operational efficiency. At Karora Resources Inc., he served as Senior Vice President of Technical Services and was a key player in increasing the company's throughput from 340,000 to 1.6 million tonnes per annum, which was a significant factor in its successful merger. In his capacity as Chief Operating Officer of Klondex Mines Ltd., he played a crucial role in raising gold production from 8,000 to 200,000 ounces per year, which contributed to the company's acquisition by Hecla Mining Company. Mr. Doolin has also held Chief Executive and Chief Operating Officer positions at Silver Elephant Mining, as well as leadership roles as Mill Manager at Great Basin Gold and Metallurgical Lab Lead at McClelland Labs. He currently serves as Chief Operating Officer of Americas Gold and Silver Corporation and Culico Metals Inc.

Jeff Stieber

Mr. Stieber has over 19 years of experience in finance, accounting, and strategy, having held senior executive roles with Hycroft Mining, Klondex Mines, Tahoe Resources, White Pine Precious Metals, and Bendito Resources.  He is knowledgeable in all phases of mining project development, from guiding exploration-stage projects to advancing development assets into production and cash flow generation.  Mr. Stieber is a Certified Public Accountant in the State of Nevada and a Certified Financial Modeling & Valuation Analyst. He also currently serves as a director for Chesapeake Gold Corp.

About Nevada King Gold Corp.

Nevada King is focused on advancing and growing its 100% owned, past producing, 130km² Atlanta Gold Mine project located along the Battle Mountain trend in southeast Nevada. The project hosts an NI 43-101 compliant pit-constrained oxide resource of 1,020koz Au in the measured and indicated category (27.7M tonnes at 1.14 g/t) plus an inferred resource of 99koz Au (3.6M tonnes at 0.84 g/t). See the NI 43-101 Technical Report titled "Technical Report and Estimate of Gold and Silver Mineral Resources for the Atlanta Project, Lincoln County, Nevada, USA" with an effective date of September 6, 2024, and a report date of July 18, 2025, as prepared by RESPEC (formerly Mine Development Associates) and filed under the Company's profile on SEDAR+ www.sedarplus.ca.

NI 43-101 Mineral Resources at the Atlanta Mine by RESPEC 2025

	Tonnes	Au g/t	Au oz	Ag g/t	Ag oz	AuEq g/t	AuEq oz
Measured	3,430,100	1.55	170,800	16.96	1,870,200	1.65	182,000
Indicated	24,280,200	1.09	848,800	8.73	6,817,200	1.14	887,700
M&I	27,710,300	1.14	1,019,600	9.75	8,687,400	1.20	1,069,700
Inferred	3,638,400	0.84	98,500	2.56	299,500	0.85	99,800

Please see the Company's website at www.nevadaking.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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. 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, technical, geologic, environmental, regulatory, 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, 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 forward-looking statements should beliefs, opinions, projections, or other factors, change, except as required by applicable securities laws.

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SOURCE Nevada King Gold Corp.

FAQ

Who is the new CEO of Nevada King Gold (NKGFF) as of August 2025?

John Sclodnick was appointed as the new CEO of Nevada King Gold, replacing Collin Kettell who transitions to Chairman of the Board.

What management changes did Nevada King Gold announce in August 2025?

Nevada King announced John Sclodnick as new CEO, Jeff Stieber as new CFO, and added Michael Doolin to the Board. Collin Kettell became Chairman, while Paul Matysek, Craig Roberts, and Bassam Moubarak departed.

What experience does Nevada King's new CFO Jeff Stieber bring to the company?

Jeff Stieber brings 19 years of experience in finance, accounting, and strategy, with senior executive roles at companies like Hycroft Mining, Klondex Mines, and Tahoe Resources. He is a Certified Public Accountant and Financial Modeling & Valuation Analyst.

What is Michael Doolin's track record in the mining industry?

Michael Doolin has 35 years of mining industry experience, notably increasing Karora Resources' throughput from 340,000 to 1.6 million tonnes annually and raising Klondex Mines' gold production from 8,000 to 200,000 ounces per year.

What other matters were approved at Nevada King's August 2025 shareholder meeting?

Shareholders approved the re-appointment of Davidson & Company LLP as auditor and the renewal of the stock option plan, along with the election of board members.