NEVADA KING REVIEWS 2025 ACHIEVEMENTS AND 2026 EXPLORATION STRATEGY

Rhea-AI Summary

Nevada King (OTCQB: NKGFF) reviewed 2025 achievements and outlined a 2026 exploration plan at its 100% owned 130 km2 Atlanta Gold Mine Project in Nevada. Key 2025 results include a 122% increase in measured and indicated oxide resources to >1.0 Moz contained in 27.7 Mt grading 1.14 g/t Au, completion of a 30,000 m Phase 3 drill program that discovered multiple oxide targets (notably Silver Park East), and metallurgical work supporting a simplified flowsheet with ROM heap leach and two-stage crushing. Leadership additions and QA/QC protocols were announced. The company is fully funded for a Phase 4 20,000 m 2026 program focused on Silver Park East, Atlanta South/North, and Western Rim.

Positive

• Resource +122% M&I to >1.0 Moz contained
• Grade 1.14 g/t Au across 27.7 Mt M&I
• 30,000 m Phase 3 drill program completed
• Phase 4 funded 20,000 m drill program for 2026
• Metallurgy supports ROM heap leach and simplified flowsheet

Negative

• Silver Park East currently at infill-stage, not yet a defined satellite resource
• Western Rim is early-stage with targets concealed under thin cover, increasing exploration uncertainty

News Market Reaction – NKGFF

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On the day this news was published, NKGFF declined 10.29%, reflecting a significant negative market reaction.

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VANCOUVER, BC, Dec. 29, 2025 /PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQB: NKGFF) ("Nevada King" or the "Company") is pleased to provide a summary of its key accomplishments during 2025 and review its exploration strategy for 2026 at its 100% owned 130km² Atlanta Gold Mine Project ("Atlanta") in eastern Nevada. During 2025, Nevada King delivered significant technical, exploration, and corporate milestones that materially advanced Atlanta and positioned the Company for continued growth through discovery.

2025 Highlights:

Resource Growth and De-risking Metallurgy

• In June 2025, Nevada King released an updated NI 43-101 mineral resource estimate for Atlanta, increasing measured and indicated resources by 122% to over 1 million ounces of oxide gold contained within 27.7 million tonnes grading 1.14g/t Au, establishing Atlanta as one of the highest-grade open-pit oxide gold projects in North America.
• Phase 2 metallurgical testing continued to demonstrate strong oxide recoveries using conventional processing methods and now supports a more simplified flowsheet with run-of-mine ("ROM") heap leaching for the non-silicified volcanics and two-stage crushing for the mill material.

Exploration Success

• Nevada King completed a 30,000m Phase 3 drilling program, designed to test regional targets beyond the Atlanta Resource Zone ("ARZ") across the district scale land package, much of which is concealed beneath thin post-mineral cover.
• The program successfully identified multiple new oxide gold targets, establishing a pipeline of exploration opportunities at various stages of advancement.
• Silver Park East emerged as the most advanced new discovery, rapidly progressing from reconnaissance drilling to now infill-stage exploration. Drilling confirmed a broad zone of near-surface oxide gold and silver mineralization covering an approximate 450m x 300m footprint, hosted along the same unconformity and within the same geological framework as the ARZ.
• Phase 3 drilling advanced targets at Atlanta South, Atlanta North, and led to the identification of the Western Rim target, a large-scale, early-stage opportunity characterized by extensive multi-directional quartz veining with rock chip samples grading up to 20.8 g/t Au.

Strengthening the Leadership Team

During 2025, Nevada King strengthened its leadership team to support the next phase of growth:

• John Sclodnick was appointed Chief Executive Officer, bringing extensive capital markets experience and strong institutional investor and corporate relationships.
• Jeff Stieber joined as Chief Financial Officer, bringing extensive experience from precious metals companies at various development stages and enhancing financial oversight.
• Justin Daley was appointed Vice President, Exploration, adding deep technical experience and advanced, data-driven exploration capabilities.
• Collin Kettell was appointed Chairman of the Board, further strengthening governance and strategic leadership.

Outlook for 2026

Building on the momentum of 2025, Nevada King enters 2026 with a fully funded exploration program and a clear strategy to advance its most prospective regional targets. The Company's Phase 4 exploration program, announced on December 11, 2025, includes an initial 20,000m of drilling focused on:

• advancing Silver Park East through infill drilling with the objective of evaluating its potential as a satellite oxide resource;
• continuing follow-up drilling at Atlanta South and Atlanta North along the West Atlanta Fault, the primary mineralizing structure at Atlanta; and
• advancing the Western Rim target through additional geophysical surveys and initial drill testing.

John Sclodnick, CEO of Nevada King, stated: "2025 was a transformational year for Nevada King. We significantly grew and improved the confidence of our resource base, demonstrated strong metallurgy, built a pipeline of new regional discoveries, and strengthened our leadership team. The Phase 3 exploration program exceeded expectations and Silver Park East now represents a compelling opportunity to continue to expand the resource base at Atlanta. As we move into 2026, we are fully funded for our Phase 4 drill program and remain focused on growing ounces while minimizing costs."

QA/QC Protocols

All Reverse Circulation ("RC") samples from Atlanta are split at the drill site and placed in cloth and plastic bags utilizing a nominal 2kg sample weight. CRF standards, blanks, and duplicates are inserted into the sample stream on-site on a one-in-twenty sample basis, meaning all three inserts are included in each 20-sample group. Samples are shipped by a local contractor in large sample shipping crates 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 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 resource update did Nevada King (NKGFF) announce on Dec 29, 2025?

Nevada King reported a 122% increase in measured and indicated oxide resources to over 1.0 Moz contained in 27.7 Mt grading 1.14 g/t Au.

How much drilling did Nevada King complete in its 2025 Phase 3 program (NKGFF)?

Nevada King completed a 30,000 m Phase 3 drill program testing district-scale targets.

What is Nevada King’s 2026 exploration plan for NKGFF?

The fully funded Phase 4 plan is an initial 20,000 m focused on Silver Park East infill, Atlanta South/North follow-up, and Western Rim testing.

Did Nevada King report metallurgical results for the Atlanta project (NKGFF)?

Yes; Phase 2 metallurgy showed strong oxide recoveries and supports a simplified flowsheet using ROM heap leach for some material and two-stage crushing for mill material.

What discovery emerged from Nevada King’s 2025 drilling (NKGFF)?

Silver Park East advanced from reconnaissance to infill-stage with a near-surface oxide gold-silver zone across ~450m x 300m.

Who is the Qualified Person for Nevada King’s technical information (NKGFF)?

The technical information was reviewed and approved by VP Exploration Justin Daley, P.Geo, a non-independent Qualified Person under NI 43-101.