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NEVADA KING RECEIVES APPROVAL FROM BUREAU OF LAND MANAGEMENT FOR 47 ADDITIONAL DRILL PADS AND NEW ROAD CONSTRUCTION AS PART OF ITS PHASE III DRILL PROGRAM AT ATLANTA

1. Nevada King Gold Corp received FONSI for Atlanta Gold Mine modification. 2. Modification improves drill hole access and expands exploration capabilities. 3. Resource estimate includes 460,000 oz Au confirmed in measured and indicated categories. 4. Approval accelerates exploration plans in a strategic mining region. 5. Effective oil exploration can directly influence NKGFF's market performance.

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FAQ

Why Bullish?

The FONSI approval indicates regulatory support, boosting investor confidence, similar to past approvals that led to price increases.

How important is it?

Significant regulatory approvals usually positively affect mining companies' stock valuations.

Why Short Term?

Immediate exploration benefits from permits could translate to short-term price increase, akin to previous exploration news impacts.

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VANCOUVER, BC, Feb. 6, 2025 /PRNewswire/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQB: NKGFF) ("Nevada King" or the "Company") is pleased to announce it has received a Finding of No Significant Impact, or "FONSI", from the Bureau of Land Management (BLM) as well as approval from the State of Nevada for a minor modification to its existing 45km2 Plan of Operations at the 100%-owned Atlanta Gold Mine Project along the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada. This is the second modification successfully permitted by the Company and follows receipt of the first plan modification that was issued by the BLM in October 2024. Highlights: Cal Herron, Exploration Manager of Nevada King, stated: "We are very pleased to see such quick action by the BLM and State of Nevada in finalizing their approvals for this important modification. This new modification adds more holes and new road access in the southern half of the SQRT, while more holes and cross-country travel routes have been added to the Silver Park region. This now allows us to offset existing holes at closer spacings plus follow structural trends seen in the CSAMT data." QA/QC Protocols All RC samples from the Atlanta Project 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 in order 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, 120km2 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 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) based on historical drilling, and does not include any of the 100,000m+ of drilling completed by Nevada King. 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.sedarplus.ca). Resource Category Tonnes (000s) Au Grade (ppm) Contained Au Oz Ag Grade (ppm) Contained Ag Oz Measured 4,130 1.51 200,000 14.0 1,860,000 Indicated 6,910 1.17 260,000 10.6 2,360,000 Measured + Indicated 11,000 1.30 460,000 11.9 4,220,000 Inferred 5,310 0.83 142,000 7.3 1,240,000 Table 1. NI 43-101 Mineral Resources at the Atlanta Mine 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. Forward-looking statements in this news release relate to, among other things, the Company's 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, 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. SOURCE Nevada King Gold Corp.

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