FT Markets Data
Nevada King Gold Corp

NEVADA KING REPORTS POSITIVE PHASE 2 METALLURGICAL TEST RESULTS AT ATLANTA CONFIRMING CONVENTIONAL OXIDE PROCESSING WITH A SIMPLIFIED FLOWSHEET

VANCOUVER, BC , July 16, 2025 /PRNewswire/ - Nevada King Gold Corp.(TSXV: NKG) (OTCQB: NKGFF) ("Nevada King" or the "Company") is pleased to report results from its Phase 2 metallurgical testing program at its 12,000 hectare (120km2), 100% owned Atlanta Gold Mine Project, located in the prolific Battle Mountain Trend 264km northeast of Las Vegas, Nevada. Phase 2 results confirm and expand on the Phase 1 results (released March 26, 2024), while delivering a more simplified flowsheet with potential for lower operating and initial capital costs, and continuing to demonstrate that gold and silver mineralization at Atlanta is well suited to conventional oxide processing methods widely used in Nevada.

Highlights:

  • Robust Recoveries: Combined, Phase 1 and 2 test work consistently demonstrated strong gold recoveries across key mineralized units using both fine milling and heap leaching methods. 

    • Fine milling (200-mesh grind, P80 = 75 µm) shows a weighted average gold extraction of 90.1% for the non-silicified volcanics, 86.1% for the silicified volcanics, and 87.7% for the silica breccia (SBX).

    • Column leaching of conventional crushed (combined P80 = 12.5 & 25.0 mm columns) shows a weighted average extraction of 83.1% for the non-silicified volcanics (heap leachable).

  • Dual Recovery Pathways: Results continue to support a development path utilizing conventional milling for higher-grade material, while lower-grade, non-silicified volcanics are suitable for run of mine ("ROM") heap leaching.

  • Simplified Flowsheet: The revised proposed flowsheet has been simplified and is expected to result in lower operating and initial capital costs by replacing three-stage crushing with a primary and secondary crusher and eliminating the convey-stack process. Additionally, while the prior flowsheet envisioned two separate heap leach processes, the new simplified flowsheet includes just one, consisting exclusively of ROM material.

  • Comprehensive Test Program: Phase 2 tested 26 drill core composites, adding to the 22 drill core composites and three bulk samples tested in Phase 1, which together provide a comprehensive dataset of the various lithologies and grade ranges found throughout the Atlanta resource.

Phase 2 metallurgical test work at Atlanta has been supervised by Gary Simmons (MMSA QP Number: 01013QP), formerly the Director of Metallurgy and Technology for Newmont Mining Corp. Mr. Simmons also supervised the Phase 1 metallurgical test work at Atlanta and has managed numerous metallurgical testing programs in the Great Basin with characteristics similar to those found at Atlanta.

Mr. Simmons commented, "The Phase 2 results refine the findings from Phase 1, that conventional oxide milling of the silicified volcanics, SBX and dolomite material types will be suitable to process the Atlanta mineralization. The non-silicified volcanics are amenable to conventional ROM heap leaching.

"The inclusion of HPGR will provide a relatively lower overall operating cost for SBX compared to alternatives such as a SAG/Ball mill processing. The Phase 2 testing provided additional clarity on the metallurgical characteristics of a wider variety of rock type subunits included in the resource area and is another step in de-risking the Atlanta Gold Mine project."

Test Results Summary:

The Atlanta resource is generally categorized into two distinct categories for the purposes of metallurgical testing of gold and silver extraction. There is the SBX (mineralized material in and below the main Atlanta unconformity) and the volcanics (mineralized material above the main Atlanta unconformity). Of the 26 composites tested in Phase 2, 17 were within or below the unconformity representing SBX material and nine were within the volcanics. A higher ratio of samples of SBX material was used in Phase 2,compared to nearly equal samples from SBX and volcanics in Phase 1, to improve the understanding of the SBX material and the metallurgical characteristics of the subunits.

MATERIAL

GOLD EXTRACTION –
MILLING (P80=75ΜM)

GOLD EXTRACTION – HEAP
LEACH (P80=12.5–25MM)

SILVER EXTRACTION –
MILLING (P80=75ΜM)

VOLCANICS

(NON-SILICIFIED)

90.1% (2.71 g/t Au)

83.1% (2.56 g/t Au)

58.1% (25.0 g/t Ag)

SILICIFIED
VOLCANICS

86.1% (2.80g/t Au)

55.9% (2.83g/t Au) – Not suitable for
heap leach

28.2% (7.4 g/t Ag)

SILICA BRECCIA
(SBX)

87.7% (3.23 g/t Au)

Not Applicable

43.9% (26.0 g/t Ag)

DOLOMITE

80.6% (0.32 g/t Au)

52.0% (0.30 g/t Au)

23.3% (23.2 g/t Ag)

Table 1. Summary Phase 1 and 2 Atlanta laboratory gold extraction results, average gold bottle roll & column leach tests with average gold and silver grade.

Phase 2 metallurgical test work emphasized testing SBX material, located below or in the unconformity, due to the hard and abrasive nature which has a high degree of sensitivity to process feed particle size. This material can be processed utilizing High Pressure Grinding Rolls ("HPGR") comminution followed by fine milling.

The non-silicified volcanics sit above the unconformity and typically show higher recoveries and less sensitivity to particle size for processing. The volcanics are amenable to processing via conventional milling, or ROM heap leaching, with the grade and future economic analysis being the primary determinant on processing method.

Gold extraction at a typical fine grind of 75 µm remained strong for all material types through Phase 2 results, reinforcing the amenability to conventional cyanidation.

HPGR comminution of SBX material, followed by column leaching, shows that this material is not suitable for heap leaching, due to its lower gold extraction versus testing in Phase 1. This material showed a weighted average gold extraction of 56.1% at 3.66 g/t Au.

Overall, Phase 2 closely mirrors Phase 1 in grade, extraction behavior, and composition and validates the Phase 1 results, with high cyanide solubility across both phases. Phase 2 also confirmed negligible preg-robbing, so it remains a non-issue after both phases. Fine grinding remains very effective across all lithologies.

Phase 1 and 2 combined gold extraction from fine milling at a 200 mesh grind (P80=75µm) show a weighted average gold extraction of:

  • 90.1% for the non-silicified volcanics at an average head grade of 2.71 g/t Au

  • 86.1% for the silicified volcanics at an average head grade of 2.80 g/t Au

  • 87.7% for the SBX at an average head grade of 3.23 g/t Au

  • 80.6% for the dolomite at average head grade 0.32 g/t Au

Phase 1 and 2 combined gold extraction from conventional crushing (P80=12.5 + 25.0 mm columns) show a weighted average gold extraction of:

  • 83.1% for non-silicified volcanics (to be processed via heap leach) at an average head grade of 2.56 g/t Au

  • 55.9% for silicified volcanics at an average head grade 2.83 g/t Au (to be processed via milling)

  • 52.0% for the dolomite at an average head grade of 0.30 g/t Au

  • SBX materials are not suitable for heap leaching due to the low weighted average gold extraction

Phase 1 and 2 combined silver extraction from fine milling at a 200 mesh grind (P80=75µm) show a weighted average silver extraction of:

  • 58.1% for non-silicified volcanics at an average head grade of 25.0 g/t Ag

  • 28.2% for silicified volcanics at an average head grade of 7.4 g/t Ag

  • 43.9% for SBX at an average head grade of 26.0 g/t Ag

  • 23.3% for dolomite at an average head grade of 23.2 g/t Ag

Table 1 below provides a summary of laboratory metallurgy gold extraction test results from both Phase 1 and Phase 2 and distinguishes between the materials tested above and below the Atlanta unconformity indicating whether the mineralization is in volcanics or silicified breccias, while Table 2 does the same for silver.


Bulk Sample & Phase-1: Gold Met Balances


KCA
Sample No.

Comp ID

Unconf *1 Abv/Below

Atlanta Geology 

37µm BR

75µm BR

1,700µm BR

12.5mm Column

25.0mm Column

HPGR Column


Formation

Au
Ext %

Calc Hd
Au (ppm)

Au
Ext %

Calc Hd
Au (ppm)

Au
Ext %

Calc Hd
Au (ppm)

Au
Ext %

Calc Hd
Au (ppm)

Au Ext %

Calc
Hd Au
(ppm)

Au Ext %

Calc
Hd Au
(ppm)




















96601 B

ABS#1

Below

Ol

80.3

0.340

76.6

0.337

55.8

0.344

52.1

0.349



62.9

0.375


96602 B

ABS#2

Below

SBX

92.1

1.539

90.2

1.442

74.5

1.599

65.1

1.550



74.1

1.594


96603 B

ABS#3

Below

SBX

91.4

1.549

88.5

1.465

80.6

1.692

82.6

1.422



84.1

1.624


96605 A

ATV-1

Above

Rhyolite

85.8

1.166

86.4

1.157

53.8

1.131

46.2

1.147



60.7

1.121


96606 A

ATV-2

Above

Rhyolite

94.1

6.166

88.1

5.961

66.8

6.150

56.3

6.304






96607 A

ATV-3

Above

Rhyolite

83.4

1.820

86.5

1.823

64.6

1.941

70.3

1.874



75.5

1.979


96608 A

ATV-4

Below

SBX-1

90.6

4.742

80.5

5.117

47.8

5.009

32.8

5.400



40.9

6.452


96609 A

ATV-5

Above

VolSS

93.3

0.312

88.9

0.126

67.4

0.141



72.1

0.140




96610 A

ATV-6

Above

Tuff Dike Breccia

94.9

0.375

94.3

0.348

64.0

0.336

44.6

0.249



60.6

0.277


96611 A

ATV-7

Below

SBX-1

93.5

2.487

93.5

2.253

52.8

2.321

35.2

2.306



53.8

2.278


96612 A

ATV-8

Below 

Dolomite

78.5

0.237

82.4

0.289

50.8

0.299

44.0

0.218






96613 A

ATV-9

Below 

SBX-1,

91.0

2.344

90.0

2.412

53.3

2.617

39.9

2.534



53.1

2.643


96614 A

ATV-10

Below 

Dolomite

77.5

0.244

83.2

0.333

68.9

0.360

57.1

0.331



66.4

0.277


96615 A

ATV-11

Below,

SBX-1,

87.0

0.575

87.7

0.570

61.9

0.559

48.4

0.531



62.4

0.558


96616 A

ATV-12

Above

Rhyolite,

92.8

0.500

96.2

0.521

78.4

0.509

84.7

0.476



87.8

0.500


96617 A

ATV-13

Above

RhyoDacite

80.4

1.539

84.8

1.498

77.6

1.462



81.5

1.865




96618 A

ATV-14

Above

Rhyolite

85.0

2.462

80.6

2.248

45.9

1.967

46.8

1.992



54.9

1.958


96619 A

ATV-15

Above

Tuff Dike Breccia

90.0

6.363

92.0

6.793

82.0

6.927



82.4

7.165




96620 A

ATV-16

Above

RhyoDacite Tuff & Rhyolitic TDB w/Hem,

90.7

0.529

90.7

0.593

86.6

0.610

88.8

0.633






96621 A

ATV-17

In/Above

SBX-2

83.9

1.214

88.6

1.324

73.3

1.209

76.1

1.403



81.7

1.440


96622 A

ATV-18

In/Above

RhyoDacite,Dacite,VolSS

86.7

1.531

88.0

1.639

81.8

1.566

86.3

1.666



88.0

1.615


96623 A

ATV-19

Above/Below

Tuff Dike Breccia(>>Au),Dolomite

97.1

7.951

95.4

7.174

91.8

7.842

93.0

8.250






*1 - 

Unconformity - in/Below or Above: Gold Extraction % is highly senstivity to feed particle size, Unconformity - Above: Gold Extraction % has lower sensitivity to feed particle size.










Phase-2: Gold Met Balances


KCA
Sample No.

Comp ID

Unconf *1 Abv/Below

Atlanta Geology 

75µm BR

212µm BR

1,700µm BR

12.5mm Column

25.0mm Column

HPGR Column


Formation

Au
Ext %

Calc Hd
Au (ppm)

Au
Ext %

Calc Hd
Au (ppm)

Au
Ext %

Calc Hd
Au (ppm)

Au
Ext %

Calc Hd
Au (ppm)

Au
Ext %

Calc
Hd Au
(ppm)

Au
Ext
%

Calc Hd
Au(ppm)



97860 A

ATV-20

Above

Rhyolite,Dacite

91.4

0.409



90.1

0.392

91.0

0.431






97861 A

ATV-21

In/Below

SBX-1,Quartzite

86.3

0.240



61.3

0.173





53.5

0.215


97862 B

ATV-22

Above

Rhyolite,RhyoDacite,

84.8

1.272



86.9

1.174



88.9

1.353




97863 A

ATV-23

Above

Rhyolite

89.4

1.001



90.6

0.945

92.8

1.034






97864 B

ATV-24

Above

Rhyolite,RhyoDacite

33.6

1.195



34.4

0.941

35.1

1.087






97865 B

ATV-25

Above

Rhyolite

88.4

1.661



82.8

1.548



73.3

1.944




97866 A

ATV-26

In/Below

SBX-1,Dolomite

87.6

3.885



54.0

4.152





62.6

4.413


97867 A

ATV-27

Above

Dacite

95.3

3.524



89.7

3.164

91.9

4.127






97868 B

ATV-28

Above

Tuff Dike Breccia

94.1

8.860

83.8

8.024

67.6

7.517





74.2

10.759


97869 A

ATV-29

Above

Tuff Dike Breccia,

78.6

5.148



60.0

4.787

72.7

5.887






97870 B

ATV-30

In,/Below

SBX-1

91.4

1.761

88.3

1.988

64.0

1.845





61.5

3.330


97871 B

ATV-31

In,/Below

SBX-1

91.5

3.322

85.8

3.390

65.9

2.983





51.0

4.204


97872 B

ATV-32

In,/Below

SBX-1

75.3

2.556

72.3

2.682

55.2

2.841





53.7

2.883


97873 B

ATV-33

In,/Below

SBX-1

94.1

3.757

87.0

3.789

67.4

3.861





70.1

3.871


97874 A

ATV-34

In,/Below

SBX-1

92.4

5.967

88.3

6.096

69.3

6.873





74.0

7.407


97875 B

ATV-35

In/Above

SBX-2,Rhyolite,Tuff Dike Bx

85.9

0.519



69.6

0.517



64.5

0.512




97876 B

ATV-36

In/Above

SBX-2,Tuff Dike Bx

83.3

0.926

70.7

0.961

46.0

0.908





49.8

0.970


97877 A

ATV-37

Above

Tuff Dike Breccia

79.2

2.843



59.2

2.763

67.0

3.130






97878 B

ATV-38

Below

SBX-1,Tuff Dike Bx

87.5

11.694

77.0

11.990

46.0

12.794





51.1

10.9


97879 B

ATV-39

Below

SBX-1

86.7

4.234

76.4

4.390

47.9

4.560





53.1

4.300


97880 B

ATV-40

Below

SBX-1

82.6

1.119

68.8

1.067

32.5

1.074





43.5

1.116


97881 A

ATV-41

Below

SBX-1

82.8

0.314

69.7

0.271

34.8

0.282





73.3

0.555


97882 B

ATV-42

Below

SBX-1,Tuff Dike Bx

85.6

8.399

76.2

9.481

44.1

9.606





51.1

8.482


97883 B

ATV-43

Below

SBX-1,Tuff Dike Bx

90.4

10.807

77.4

10.911

40.8

11.964





47.6

11.442


97884 A

ATV-44

In/Below

SBX-1

91.6

0.561

81.0

0.473

54.7

0.547





56.7

0.497


97885 A

ATV-45

Below/In

SBX-1

79.8

2.957



49.7

3.069





59.4

3.065



















*1 - 

Unconformity - in/Below or Above: Gold Extraction % is highly senstivity to feed particle size, Unconformity - Above: Gold Extraction % has lower sensitivity to feed particle size.


Table 2. Summary Atlanta metallurgical results from Phase 1 and 2, gold bottle roll & column leach tests





Bulk Sample & Phase-1: Silver Met Balances *2


KCA
Sample No.

Comp ID

Unconf Abv/Below

Atlanta Geology 

37µm BR

75µm BR

1,700µm BR

12.5mm Columns

25mm Columns

HPGR Columns


Formation

Ag
Ext %

Calc Hd
Ag (ppm)

Ag
Ext %

Calc Hd
Ag (ppm)

Ag
Ext %

Calc Hd
Ag (ppm)

Ag Ext %

Calc Hd Ag (ppm)

Ag
Ext %

Calc Hd Ag (ppm)

Ag
Ext %

Calc Hd Ag(ppm)



96601 B

ABS#1

Below

Dolomite

23.8

65.20

23.5

62.64

9.6

51.46

3.5

63.89



8.5

62.67


96602 B

ABS#2

Below

SBX-1

56.8

15.92

54.4

15.20

52.8

13.29

29.7

12.74



34.2

14.02


96603 B

ABS#3

Below

SBX-1

43.2

134.92

46.0

119.74

31.5

132.19

22.1

122.56



28.5

132.00


96605 A

ATV-1

Above

Rhyolite

64.1

2.48

34.4

3.98

18.4

4.13

16.1

3.60



24.5

3.26


96606 A

ATV-2

Above

Rhyolite

55.1

10.84

24.9

18.55

16.5

15.78

9.4

16.78






96607 A

ATV-3

Above

Rhyolite

43.2

2.53

24.3

4.63

13.1

4.95

12.4

4.03



13.7

5.18


96608 A

ATV-4

Below

SBX-1

53.7

12.83

21.6

22.99

8.7

19.00

3.2

21.30



7.1

22.67


96609 A

ATV-5

Above

VolSS

55.7

2.01

22.3

3.83

8.2

3.81



9.4

3.07




96610 A

ATV-6

Above

Tuff Dike Breccia

70.1

2.98

39.8

4.33

29.0

4.97

25.5

4.04



27.6

4.45


96611 A

ATV-7

Below

SBX-1

57.8

21.54

35.6

33.22

24.9

27.60

28.1

37.48



31.7

37.88


96612 A

ATV-8

Below 

Dolomite

40.0

1.02

20.2

1.85

5.7

2.26

8.8

1.02






96613 A

ATV-9

Below 

SBX-1,

73.9

35.61

56.5

47.67

64.7

42.26

53.2

47.68



61.6

50.72


96614 A

ATV-10

Below 

Dolomite

55.4

2.49

22.4

5.06

10.3

5.50

4.7

5.71



7.7

5.94


96615 A

ATV-11

Below,

SBX-1,

78.8

25.71

62.0

34.73

46.3

32.92

29.0

30.41



42.8

30.42


96616 A

ATV-12

Above

Rhyolite,

36.0

0.38

8.0

1.45

8.5

0.91

11.6

0.86



8.9

0.79


96617 A

ATV-13

Above

RhyoDacite

77.9

1.09

37.2

2.35

47.1

1.51



60.6

0.99




96618 A

ATV-14

Above

Rhyolite

83.5

1.67

49.7

2.52

43.9

1.72

35.9

1.70



38.8

2.40


96619 A

ATV-15

Above

Tuff Dike Breccia

83.2

69.08

82.3

63.12

38.4

66.60



30.8

65.04




96620 A

ATV-16

Above

RhyoDacite Tuff & Rhyolitic TDB w/Hem,

20.4

3.45

14.9

3.87

7.4

3.14

6.6

3.66






96621 A

ATV-17

In/Above

SBX-2

61.1

36.18

64.6

38.62

33.4

38.17

29.1

46.59



37.6

35.76


96622 A

ATV-18

In/Above

RhyoDacite,Dacite,VolSS

44.4

1.42

34.0

2.07

44.4

1.16

27.2

1.80



23.8

1.89


96623 A

ATV-19

Above/Below

Tuff Dike Breccia(>>Au),Dolomite

52.6

31.98

56.9

33.89

35.6

31.42

45.4

45.04






*2 - 

Silver Extraction is not sensitive to position above or below the unconformity, but does show some sensitivity to Ag head grade.






Phase-2: Silver Met Balances


KCA
Sample No.

Comp ID

Unconf *1 Abv/Below

Atlanta Geology 

75µm BR

212µm BR

1,700µm BR

12.5mm Column

25.0mm Column

HPGR Column


Formation

Ag 
Ext
%

Calc Hd Ag(ppm)

Ag Ext
%

Calc Hd Ag(ppm)

Ag Ext
%

Calc Hd Ag(ppm)

Ag Ext
%

Calc Hd Ag(ppm)

Ag Ext
%

Calc Hd Ag(ppm)

Ag Ext
%

Calc Hd Ag(ppm)




















97860 A

ATV-20

Above

Rhyolite,Dacite

30.1

0.83



25.7

0.58

42.4

0.85






97861 A

ATV-21

In/Below

SBX-1,Quartzite

29.3

4.25



10.8

4.56





12.9

4.43


97862 B

ATV-22

Above

Rhyolite,RhyoDacite,

24.4

0.99



27.9

0.52



37.0

0.46




97863 A

ATV-23

Above

Rhyolite

28.2

0.87



22.2

0.64

44.3

0.61






97864 B

ATV-24

Above

Rhyolite,RhyoDacite

42.2

1.39



33.6

1.50

32.9

1.49






97865 B

ATV-25

Above

Rhyolite

74.1

3.44



61.5

3.62



59.3

4.03




97866 A

ATV-26

In/Below

SBX-1,Dolomite

36.2

33.57



17.7

35.66





20.8

38.16


97867 A

ATV-27

Above

Dacite

70.4

34.13



50.9

34.13

45.4

37.49






97868 B

ATV-28

Above

Tuff Dike Breccia

67.4

100.71

63.3

106.20

45.1

87.35





44.5

99.36


97869 A

ATV-29

Above

Tuff Dike Breccia,

34.1

104.74



27.3

98.09

28.8

97.53






97870 B

ATV-30

In,/Below

SBX-1

48.5

40.17

43.7

46.20

42.4

42.39





38.6

44.05


97871 B

ATV-31

In,/Below

SBX-1

35.6

37.34

40.0

33.47

38.7

30.22





38.0

38.47


97872 B

ATV-32

In,/Below

SBX-1

58.3

23.17

63.7

23.88

44.7

25.30





44.4

28.19


97873 B

ATV-33

In,/Below

SBX-1

51.6

26.46

43.5

24.77

43.6

25.01





46.0

26.63


97874 A

ATV-34

In,/Below

SBX-1

24.7

46.90

29.2

44.95

22.5

49.88





15.4

46.64


97875 B

ATV-35

In/Above

SBX-2,Rhyolite,Tuff Dike Bx

62.1

1.23



30.8

1.54

62.1

0.87






97876 B

ATV-36

In/Above

SBX-2,Tuff Dike Bx

49.2

2.57

50.3

3.74

15.9

3.10





19.9

3.42


97877 A

ATV-37

Above

Tuff Dike Breccia

45.1

2.25



17.9

2.52

17.9

2.62






97878 B

ATV-38

Below

SBX-1,Tuff Dike Bx

18.1

11.98

14.5

12.08

5.5

11.92





5.8

12.28


97879 B

ATV-39

Below

SBX-1

23.3

6.87

16.6

6.88

7.3

7.33





9.8

7.16


97880 B

ATV-40

Below

SBX-1

58.0

15.46

49.1

13.43

26.4

11.49





22.4

22.21


97881 A

ATV-41

Below

SBX-1

35.0

6.96

32.1

7.66

33.0

8.85





Assay Problem


97882 B

ATV-42

Below

SBX-1,Tuff Dike Bx

41.2

8.29

26.5

7.97

28.5

8.49





20.0

7.94


97883 B

ATV-43

Below

SBX-1,Tuff Dike Bx

24.4

27.89

16.3

30.10

6.1

28.27





5.6

30.83


97884 A

ATV-44

In/Below

SBX-1

58.5

1.80

39.4

1.55

33.0

1.69





39.5

2.00


97885 A

ATV-45

Below/In

SBX-1

41.5

16.18



5.6

15.83





7.4

17.13



















*1 -

Unconformity - in/Below or Above: Gold Extraction % is highly senstivity to feed particle size, Unconformity - Above: Gold Extraction % has lower sensitivity to feed particle size.


Table 3. Summary Atlanta metallurgical results from Phase 1 and 2, silver bottle roll & column leach tests

QA/QC Protocols

All PQ-diameter core was sampled in the Company's warehouse in Winnemucca, Nevada, with whole core samples being placed in heavy canvas bags and sent to American Assay Lab in Reno, Nevada, in heavy shipping bags by a Company contractor with full custody being maintained at all times. CRF standards and coarse blanks were inserted into the sample stream on a one-in-twenty sample basis, meaning both inserts are included in each 20-sample group. At American Assay Lab, samples were weighted, and then completely crushed to -1 inch. The coarse-crushed sample was quarter-split and one quarter was reduced to 75% passing 2mm. A 300g split was subsequently pulverized to 85% passing 75 microns. 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 1,020koz Au in the measured and indicated category (27.7M tonnes at 1.14 g/t) plus an inferred resource of 98.5koz Au (3.6M tonnes at 0.84 g/t) that replaces the Gustavson 2020 resource summarized below (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).

Previous NI 43-101 Mineral Resources at the Atlanta Mine by Gustavson 2020

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

M&I

11,000

1.30

460,000

11.9

4,220,000

Inferred

5,310

0.83

142,000

7.3

1,240,000

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 in this release, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Nevada King, plans, intentions, beliefs, and current expectations with respect to future mining operations and metallurgical processes, the potential of the simplified flowsheet to result in lower operating and initial capital costs, the amenability of various mineralized zones to processing methods, the suitability of heap leaching or milling for specific material types, the potential advancement or development of the Atlanta Mine, and the Company's ability to potentially expand mineral resources 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 of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/nevada-king-reports-positive-phase-2-metallurgical-test-results-at-atlanta-confirming-conventional-oxide-processing-with-a-simplified-flowsheet-302506504.html

SOURCE Nevada King Gold Corp.