Phase I Metallurgical Testwork Program At The Atlanta Oxide Gold Mine Project

VANCOUVER - Nevada King Gold Corp. is initiating Phase I metallurgical testing on bulk samples and diamond drill core drilled in 2022 at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend. In July of 2022, Nevada King announced positive results from its initial cyanide solubility testing program with gold cyanide solubility demonstrating a weighted average of 86.7% across 986 samples. Samples analyzed were widely distributed, with over half coming from outside the historical Atlanta Mine open pit, extending up to 560m north of the pit. Historically, the Atlanta mine extracted and processed silica breccia (SBX) ores from the East Atlanta Fault area of the Atlanta Pit, recovering 81.5% of the Au and 42.7% of the Ag using a small mill employing a Merrill Crowe pregnant solution recovery flowsheet.

Nevada King has identified and is drilling several key areas of mineralization at Atlanta that are found in the following lithologies: Silicified Laketown dolomite; Silicified Ely Springs dolomite; Silicified Breccia (SBX) between the three main Atlanta Faults; and Volcanic and intrusive mineralization contained in: Wah Wah tuff (generally categorized as dacite and quartz latite tuffs), feldspar porphyry tuff, porphyritic rhyolite and dacite intrusives, and explosive felsic dike breccias.

A Phase 1 metallurgical scope of work has been developed to explore the response of these mineralized zones to a variety of processing options. Material is currently being selected and testing of this material is planned to start in the second quarter of 2023. Final results are expected to be available by Q4 2023.

Gary Simmons, Consulting Metallurgist, said, "Last year's cyanide solubility testwork demonstrated that mineralization at Atlanta is being drilled in oxide material. As the project continues to advance, we have now acquired enough representative material to initiate a proper metallurgical characterization study which will allow the Company to better understand the system and begin to design flow sheet options to treat the various material types."