Drilling Commences At Atlanta Gold Mine

VANCOUVER - Nevada King Gold Corp. has commenced a 4,200 meter, reverse circulation (RC) drilling program at the 5,166 hectare, 100% owned Atlanta Gold Mine Project, located 264km northeast of Las Vegas, in the prolific Battle Mountain Trend, Nevada.

Highlights: The Atlanta Gold Mine historically produced 110,000 oz Au and 800,000 oz Ag. A recently published National Instrument 43-101 ("NI 43-101") resource estimate shows a pit constrained, measured and indicated mineral resource of 11M tonnes grading 1.3 g/t Au and 11.9 g/t Ag using a 0.35 g/t Au cut off, containing 460,000 oz Au and 4,220,000 oz Ag plus an inferred mineral resource of 5.31M tonnes grading 0.83 g/t Au and 7.3 g/t Ag, containing 142,000 oz Au and 1,240,000 oz Ag; The first stage of Nevada King's 2021 drilling program consists of 52 RC holes averaging 80m in depth for a total of 4,200m. Drilling commenced with one rig on June 19, 2021, while a second drill rig is en route and set to start turning in early July; This initial program is focused on resource expansion along the eastern portion of the historic Atlanta Open Pit where low historical drill density excluded potential large parts of shallower oxide mineralization occurring up-dip of the Gustavson 2020 Resource zone; The primary objective of initial drilling is to (1) confirm results from historical RC and core holes located along the eastern margin of the Gustavson 2020 Resource, (2) expand the 2020 resource northward, eastward, and southward into areas of sparse to non-existent historical drilling, and (3) expand upon the high-grade core mineralization seen in deeper historical holes along the eastern side of the Gustavon 2020 Resource zone; High-grade core mineralization that remains open for expansion has been intersected in previous drilling with results including: 32m grading 7.84 g/t Au in RC drill hole KR97-15 starting at 154m and 24m grading 4.56 g/t Au in RC drill hole ARC-02 starting at 158m; and In a new structural interpretation for the Atlanta deposit, potential higher-grade gold mineralization will be targeted in drilling where high-angle shears intersect with the East Side Fault outside of the Atlanta pit; and Reconnaissance drilling outside of the Atlanta pit area will test geophysical and geochemical anomalies elsewhere within under-explored portions of the 52km2 (5,166 hectares) property, looking for new gold targets as well as expanding known targets identified by historical drilling and surface sampling. These targets are still being identified through analysis of recently conducted surveys.

Cal Herron, Chief Operating Officer, said, "Nevada King originally purchased the Atlanta Project in 2019 because we saw good potential for quickly expanding the existing NI 43-101 qualified resource and for discovering additional gold deposits within the large land package. Traditional structural interpretations explaining the distribution of gold mineralization within the Atlanta pit area focused historical drilling on the Atlanta Fault and vein zone, which meant exploratory drilling east of the Atlanta Fault and within the 'barren dolomite footwall' was very limited, and this prejudice is reflected in Gustavson's 2020 Resource estimate. Nevada King's recent geologic mapping and sampling within and around the existing pit generated an alternate structural interpretation positing a moderately westward dipping, mineralizing fault that crops out on the high ridge east of the pit and underlies the entire deposit.  If this new structural concept is correct, we will be able to incorporate the shallow, widely scattered historical drill intercepts along the eastern side of deposit into the current resource model. Nevada King's first stage drilling program is designed to test this hypothesis, and if successful, will substantially expand the measured and indicated resource and effectively convert much of the current waste rock to resource, thereby decreasing the strip ratio. This will in turn allow for a deeper pit, which will then incorporate more of the deeper, high-grade material previously defined by historical RC and core drilling.

At the same time, recent addition of detailed ground gravity, drone magnetic, and soil sample data infills large gaps in the historical database and now allows us to evaluate the property's district-scale gold potential. Pre-1930s mining and prospecting activity together with widely scattered historical drill data suggest potential for additional silica breccia-hosted gold similar to the Atlanta Mine as well as gold mineralization occurring along Paleozoic basement – Tertiary volcanic contacts similar to Liberty Gold's Goldstrike deposit in Utah. Much of the Atlanta District is obscured by alluvium and post-mineral volcanics, so the Company will be pursuing both target types utilizing its new soil sample and geophysical data prior to drill tests."