NEVADA KING COMPLETES PURCHASE OF SILVER PARK PATENTED MINING CLAIMS

Rhea-AI Summary

Nevada King (OTCQB: NKGFF) completed its purchase of the Silver Park patented mining claims on December 3, 2025 after satisfying the option agreement announced in September 2024. The company paid US$75,000 plus issued 100,000 common shares (issued July 30, 2024) to acquire three contiguous patented lode claims covering ~24 hectares, located ~2 km from the Atlanta Resource Zone.

The Silver Park area is now a focus of Phase III regional exploration; the company reports confirmed gold and silver mineralization over a 450m by 300m footprint. Nevada King also disclosed a research agreement with Atrium Research for an upfront fee of $40,000 from Oct 22, 2025 to Oct 22, 2026, with a month-to-month extension at $3,500/month, subject to TSX Venture Exchange approval.

Positive

• Acquired three patented claims totaling ~24 hectares
• Paid US$75,000 plus 100,000 shares as consideration
• Mineralization confirmed across a 450m by 300m footprint
• $40,000 research agreement to increase analyst coverage

Negative

• Research engagement subject to TSXV approval
• Potential ongoing cash commitment of $3,500/month after term

VANCOUVER, BC, Dec. 3, 2025 /PRNewswire/ - Nevada King Gold Corp. (TSX-V: NKG; OTCQB: NKGFF) ("Nevada King" or the "Company") is pleased to announce that it has completed the purchase of the Silver Park claims after satisfying the requirements of the option agreement announced in September 2024. Including the most recent payment as consideration, the Company has paid Ofor Silver LLC ("Ofor"), a total of US$75,000, in addition to the 100,000 common shares issued to Ofor on July 30, 2024, in exchange for three contiguous patented lode mining claims covering approximately 24 hectares, located ~2km from the Atlanta Resource Zone.

John Sclodnick, CEO of Nevada King commented: "Not only has the Silver Park target area become a key focus of our Phase III regional exploration program with gold and silver mineralization now confirmed over a 450m by 300m footprint with clear expansion potential, but the patented claims acquired offer significant flexibility from a permitting perspective in potential future development scenarios."

Research Agreement

Further to its news release of October 21, 2025, Nevada King clarifies its disclosure regarding its agreement with Atrium Research Corporation ("Atrium"), a leading company-sponsored research firm located at 906-81 Navy Wharf Court, Toronto, ON M5V 3S2, to provide research reports on the Company based on publicly available information, industry data, and discussions with management and to host three recorded interviews with the Company's management team (the "Services"). Atrium provides the Services in exchange for an upfront cash fee of $40,000. The term of the Services runs from October 22, 2025, to October 22, 2026 (the "Term"). At the end of the Term, the agreement will be deemed to remain in place and be extended on a month-to-month basis at $3,500 per month, unless otherwise agreed to by the parties or the agreement is terminated by either party. 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- to 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.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Nevada King VP Exploration, Justin Daley, P.Geo., a non-independent Qualified Person as defined by National Instrument 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 did Nevada King (NKGFF) pay to complete the Silver Park claim purchase on December 3, 2025?

Nevada King paid US$75,000 plus issued 100,000 common shares to acquire the three patented claims.

How large are the Silver Park patented claims acquired by Nevada King (NKGFF)?

The acquisition covers three contiguous patented lode claims totaling approximately 24 hectares, about 2 km from the Atlanta Resource Zone.

What exploration evidence did Nevada King (NKGFF) report for Silver Park in December 2025?

The company reported confirmed gold and silver mineralization over a footprint of about 450m by 300m within the Silver Park target.

What are the terms of Nevada King’s research agreement disclosed in December 2025 (NKGFF)?

Nevada King agreed to pay Atrium an upfront fee of $40,000 for services from Oct 22, 2025 to Oct 22, 2026, with a month-to-month extension at $3,500/month unless terminated.

Does Nevada King’s Atrium research agreement require regulatory approval (NKGFF)?

Yes, the company said the engagement of Atrium remains subject to TSX Venture Exchange approval.