NEVADA KING BEGINS DRILLING NEWLY DISCOVERED MULTI-KILOMETER VEIN CORRIDOR AT "WESTERN RIM" TARGET

Rhea-AI Summary

Nevada King (OTCQB: NKGFF) has begun drilling the newly defined Western Rim target at its 13,000 hectare Atlanta Gold Mine Project, commencing Phase III regional drilling focused on a 2.5km by 1.5km multidirectional vein corridor along the caldera rim.

Work to date includes mapping and rock-chip assays with gold up to 20.8 g/t, airborne and handheld hyperspectral targeting, and 25,000m of 30,000m planned Phase III drilling completed as of Oct 21, 2025. Additional assays are pending.

Positive

• Mapped vein corridor covering 2.5km x 1.5km
• Rock-chip assays up to 20.8 g/t Au
• Phase III drilling 25,000m of 30,000m complete
• 13,000 hectare property, 100% owned

Negative

• Western Rim was previously undrilled and remains early-stage
• Key assay results from multiple targets are still pending
• No mineral resource or reserves reported yet

VANCOUVER, BC, Oct. 21, 2025 /PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQB: NKGFF) ("Nevada King" or the "Company") has initiated drilling at the Western Rim Target, a large and newly defined multidirectional vein corridor that follows a district scale normal fault and associated subsidiary quartz veins along the western rim of the Atlanta caldera. Despite measuring a large 2.5km x 1.5km area, the Western Rim remains undrilled, until now. The Western Rim is located within the Company's 13,000 hectare (130km²), 100% owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada. Drilling is ongoing, with 25,000m of the 30,000m planned Phase III regional drill program now complete. 

Western Rim Highlights:

• Recent groundwork completed by the Bureau of Land Management in 2023, consisting of bulldozing with large chain arrays to clear trees and vegetation, has led to the discovery of large angular blocks of sub-cropping altered tuff and exposed bedrock at the Western Rim. These large blocks of variably argillized-limonitized-hematized welded rhyodacite and dacite tuff contain a variety of quartz-limonite-hematite veins hosting Au-Ag-As-Mo mineralization that have now been mapped over a 2.5km north-northeast strike length. 
  
  
• Numerous rock chip samples have been assayed throughout the target area showing gold mineralization with gold grades up to 20.8 g/t from NNE and NW trending hematitic quartz veins surrounding a high-temperature ammonia-illite altered rhyolitic dome complex with the strongest As-Mo-Pb-Zn-Cu geochemical signatures on the property, both evidence for a strong hydrothermal system with a magmatic driver.
  
  
• The mapped quartz vein zone hosts gold mineralization that is more consistent compared to the rest of the Atlanta district, with some individual veins traced over a kilometer. In aggregate, the Western Rim shows a multi-kilometer north-northeast trending corridor of multidirectional veins exhibiting strong epithermal-type alteration and vein structures.
  
  
• High-crystallinity illite in exposed rhyolitic host rocks similar to gold hosts at the past producing Silver Park mine and the Atlanta Resource Zone ("ARZ") indicate low-temperature hydrothermal alteration commonly associated with epithermal gold systems like the caldera-hosted, world-class Round Mountain Mine. Referring to Figure 1, the illite crystallinity footprint is significantly larger than those identified at the ARZ or Silver Park and indicates the potential for a much larger system compared to those areas.

Cal Herron, Exploration Manager of Nevada King stated, "The geological, geochemical, and geophysical signature at the Western Rim point to a highly prospective region that covers a much broader footprint compared to the ARZ. It is particularly attractive given the close association of altered, rhyolitic intrusions with strongly anomalous Au-Ag-As-Mo mineralization. The Company's mapping and sampling in and around this recently exposed area has revealed a consistent pattern of NNE and NW-trending quartz veins hosting mineralization that is also more consistent and persistent compared to the rest of the Atlanta district.       

"While exploration at the Western Rim is still at an early stage, the target exhibits all the hallmarks of a large, potentially significant gold system. The combination of alteration type, robust multi-element geochemistry, and strong multidirectional fault/vein patterns are indicative of favourable structural preparation – a key component of the Atlanta Resource as well as large epithermal gold systems across Nevada. 

"Ongoing Phase III drilling at Western Rim will pursue Au-Ag mineralization both within the volcanic-hosted quartz vein zones as well as along the Tertiary-Paleozoic unconformity, similar to the Company's Phase I and II drill programs within the ARZ.  We're very excited to begin drilling this target, as it represents one of the most compelling opportunities to expand the known gold potential within the greater Atlanta district."

The 2.5km north-south by 1.5km east-west Western Rim target encompasses the SW corner of the 5km² Western Knolls area and extends further south and west, establishing the Western Rim as the largest and one of the most prospective targets on the property. The Western Knolls intrusive center, located just to the NE of the Western Rim, was the featured exploration target for the previous operator, attracted to the scale of the target area, the proximity to the caldera margin, the favourable gold host rock present, and geochemical results showing a strong presence of tracer elements for gold. They conducted surface sampling and geophysical surveys across the entire Western Knolls and ultimately drilled two reverse circulation ("RC") holes to the NE of the Western Rim, both of which encountered anomalous Au mineralization within the volcanic sequence, but adverse market conditions terminated any further exploration.

Nevada King initiated its exploration of the Western Knolls region in 2024 with geologic mapping and rock sampling together with a westward extension of the existing CSAMT coverage. Surface mapping and sampling accelerated in mid-2025, augmented by high resolution spectral imaging that was able to pick up crystalline illite and kaolinite clay signatures within covered areas immediately south and west of the Western Knolls. Starting in well-exposed outcrops south of Western Knolls, rock sampling moved progressively outward into covered areas where alteration and quartz vein blocks could be readily tracked through a thin colluvial and alluvial mantle. The ensuing vein trends led westward into the chained areas recently cleared of trees and other vegetative and soil cover by the BLM. It was here in the Western Rim target area that quartz veins were found to host Au-Ag-As-Mo mineralization that was significantly stronger than anywhere else within the Atlanta District, prompting the Company to commence drilling.

Modern Hyperspectral Technology Driving Discovery at Atlanta

Nevada King is now applying the latest airborne hyperspectral scanning and handheld spectrometer analysis available to accelerate exploration at the Atlanta Gold Mine Project. These technologies are providing a new layer of insight into mineral systems across the district and are directly guiding drill targeting.

Airborne hyperspectral surveys flown over the property measure infrared responses from alteration minerals linked to gold systems. At Atlanta, this work has highlighted multi-kilometer scale illite anomalies, as well as zones of muscovite and kaolinite that point to mineralizing fluid pathways. These datasets reveal patterns and small 'windows' through cover that can often be missed by traditional geological mapping and have outlined a new prospective corridor at the underexplored Western Rim. Key minerals identified, primarily high-crystallinity illite and ammonia-illite, consistently correlate with gold-silver mineralization elsewhere on the property, particularly at the ARZ and Silver Park, both sites of past producing mines (see Figure 1).

New handheld spectrometers are now being used to scan RC chips from Phase II resource drilling and ongoing Phase III regional exploration. Comparing these results with metals zonation within the resource has enabled near real time targeting, confirming and refining the airborne results.

Together, airborne and handheld scanning allow Nevada King to quickly map where hydrothermal fluids altered the host rocks, pinpointing the most prospective areas under thin cover. This modern toolkit is central to advancing new discovery opportunities such as the Western Rim target, where the Company is currently focusing its drilling effort.

Phase III Drilling Update

The Phase III exploration program has now surpassed 25,000m of the 30,000m planned drill program. The purpose of the program is to identify potential satellite targets or extensions of the resource area. In addition to previously released drill results from Silver Park, Atlanta South, and Atlanta North, which have all encountered above cut-off grade mineralization, the company is now drilling the fourth priority target area at the Western Rim. The Company continues to wait for additional assays from Silver Park, Atlanta South, and Atlanta North.

Research Agreement

Nevada King is pleased to announce it has engaged the services of Atrium Research Corporation ("Atrium"), a leading company-sponsored research firm located at 906-81 Navy Wharf Court, Toronto, ON M5V 3S2. Atrium will publish various research reports on the Company based on publicly available information, industry data, and discussions with management. Atrium will also host three recorded interviews with the Company's management team to present the investment case in an interview format. In exchange for its research services, Atrium will receive cash compensation in the amount of $3,500 per month for the services listed above. The services will be provided for 12 months beginning on October 22, 2025. The Company's engagement of Atrium remains subject to the approval of the TSX Venture Exchange.

Atrium and the Company are arm's-length parties, and neither Atrium nor its insiders hold any common shares of the Company or securities convertible into common shares of the Company.

About Atrium Research

 Atrium Research provides institutional quality company sponsored research on public equities in North America. Its investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Its research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, and an in-depth valuation analysis. Atrium Research is wholly owned and operated by its Co-Founders, Ben Pirie and Nicholas Cortellucci.

QA/QC Protocols

All surface rock and soil samples are shipped by a local contractor directly to American Assay Lab in Reno, Nevada, with full custody being maintained at all times. At American Assay Lab, samples were weighted then crushed to 75% passing 2mm and pulverized to 85% passing 75 microns to produce a 300g pulverized split. Prepared samples are initially run using a four acid + boric acid digestion process and conventional multi-element ICP-OES analysis. Gold assays are initially run using 30-gram samples by lead fire assay with an OES finish to a 0.003 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. Every sample is also run through a cyanide leach for gold with an ICP-OES finish. The QA/QC procedure involves regular submission of Certified Analytical Standards and property-specific duplicates.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Calvin R. Herron, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 ("NI 43-101").

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 to 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

What drilling progress has Nevada King (NKGFF) reported at Western Rim as of October 21, 2025?

25,000m of the planned 30,000m Phase III program have been completed as of Oct 21, 2025.

How large is the Western Rim target at Nevada King's Atlanta project (NKGFF)?

The Western Rim target covers approximately 2.5km by 1.5km within the 13,000 hectare Atlanta project.

What high-grade surface assays has Nevada King (NKGFF) reported from Western Rim?

Surface rock-chip sampling returned gold grades up to 20.8 g/t Au from quartz-hematite veins.

Is Nevada King (NKGFF) using new technology to target Western Rim drill holes?

Yes — airborne hyperspectral surveys and handheld spectrometers are guiding drill targeting and chip scanning.

Will Nevada King (NKGFF) release more assay results from Atlanta area drilling?

Yes — the company stated additional assays from Silver Park, Atlanta South, and Atlanta North remain pending.

Does the Western Rim discovery at Atlanta (NKGFF) already contain an indicated or inferred resource?

No — Western Rim is at an early exploration stage and no mineral resource or reserve is reported.