Further Defining High-Grade Mineralization Across Atlanta Mine Fault Zone And West Atlanta Graben Zone

VANCOUVER - Nevada King Gold Corp. reported on seven reverse circulation (RC) holes located along updated Section 22-8N that were recently completed at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend. Three of the holes were drilled across several high-grade strands comprising the Atlanta Mine Fault Zone (AMFZ), while three holes extended mineralization westward into the 150m-wide West Atlanta Graben Zone (WAGZ), which adjoins the northerly-trending AMFZ along its western side.

4.96 g/t Au over 27.4m in AT23NS-70 is hosted within silicified breccia and adjacent porphyritic rhyolitic breccia dikes/sills. Mineralizing fluids are interpreted to have channeled upward through the Paleozoic quartzite and dolomite into the silica breccia horizon at the Tertiary-age unconformity which hosts much of the mineralization at Atlanta. Higher Au-Ag grades are frequently found in the silica breccia proximal to these tuff dikes further north and south along the Atlanta King Fault ("AKF"). The higher grade in AT23NS-70 relative to adjacent holes illustrates the importance of drill-testing structural feeders, while the location, dip, and displacement on the AKF are now firmly established in this portion of the resource zone.

2.33 g/t Au over 74.7m in angle hole AT23NS-131A adds better definition to the fault displacement and top of the mineralized zone within the 25m-wide high grade wedge that occurs along the west side of the East Atlanta Fault. Gold grade appears to be uniformly distributed within this structural wedge, although holes drilled closer to the East Atlanta Fault, such as previously released vertical hole AT21-62 (54.9m @ 5.3 g/t Au) do exhibit higher grade where interesecting major feeder structures. Holes AT23HG-31 (74.7m @ 0.73 g/t Au), AT23HG-29 (22.9m @ 2.05 g/t Au), and AT23WS-36 (93m @ 0.54 g/t Au) stepped westward from the WAF into the middle of the WAGZ where grade progressively decreases westward. However historical core hole DRHI-11-11C (153.9m @ 0.57 g/t Au) was drilled west of the West Atlanta Fault #2 ("WAF2"), which bounds the western margin of the WAGZ, and intersected a very long mineralized interval at a grade very close to that in AT23WS-36. There is a good possibility that the thick mineralization in DRHI-11-11C was sourced from the WAF2, so pads are currently being prepared to drill the 115m gap separating these two holes in anticipation of encountering higher grade closer to the WAF2.

Cal Herron, Exploration Manager, said, "In-fill drilling along the AMFZ is serving to better define the structural controls and constraints on mineralization prior to initiating a new resource calculation. In the process of better defining structural controls we often encounter higher-grade and thicker mineralization that can significantly add to the overall resource, as is the case with AT23NS-70 (27.4m @ 4.96 g/t Au) and nearby, previously released AT21-62 (54.9m @ 5.34 g/t Au). No historical holes were drilled into the WAGZ between the WAF and WAF2, leaving a 225m gap across the WAGZ with no drill data. Holes AT23WS-36 and AT23HG-29 confirm the presence of mineralization within this gap that coincides with the center of the WAGZ, which ties into similar mineralization encountered on lines north and south of Section 22-8N(2). In other parts of the property, one RC rig is currently drilling on the South Quartzite Ridge Target 90m south of the southernmost cross section line released to date (Section 22-4N). A southwestward directed fan of angle holes are planned for tracing the WAF and AMFZ southward from Section 22-4N (released October 17, 2023), following up on recent hits in AT23HG-037 (114m @ 1.89 g/t Au) and AT23HG-034 (96m @ 2.15 g/t Au). If this drilling is successful, it will open up an entirely new frontier that has never been previously explored."