Mr. Robert Dzisiak reports

KING SIGNS LOI ON LAS MISIONES PROJECT IN BAJA CALIFORNIA

King Global Ventures Inc. has signed a letter of intent, as of Oct. 16, 2023, to acquire 50 per cent of the Las Misiones project (LM) in Baja California Sur with the project vendor, Sierra Alpha Mining SA de CV (SAM). The finalization of the proposed agreement is subject to TSX Venture Exchange approval and the transaction has been deemed to be a change of control.

The LM project comprises six concessions covering a total area of 15,067 hectares. The LM project features gold/silver mineralization hosted by two regional shear/vein zones, which are up to two kilometres long and 25 metres thick. The LM project is accessible by a paved road 60 kilometres southeast of La Paz or 160 kilometres north of Cabo San Lucas. Power, water and labour are all locally accessible. During the colonial period, the Jesuits discovered and exploited the gold in this area. Since that time, many intermittent programs of rudimentary exploration and small-scale mining have taken place. Numerous large waste dumps attest to the long history of small-scale mining by garimpeiros.

The nearby San Antonio project was evaluated by Echo Bay and Argonaut Gold from 1996 to 2012. The LM project is in close proximity to the San Antonio gold trend, both of which are localized in similar shear zones and host rocks.

Robert Dzisiak, chief executive officer of King, stated: "We are very pleased to have an LOI with Sierra Alpha on the Las Misiones project. The Las Misiones project exhibits strong geological potential for a preliminary exploration program."

Under the terms of the LOI, SAM has six mining claims covering approximately 15,067 hectares in the state of Baja California Sur. The terms of the LOI are for a cash payment of $50,000 and the issuance of two million units of the company (valued at $540,000), along with a 3-per-cent net smelter royalty payable for all metals mined. Each unit will comprise one common share and one warrant exercisable at $1 per share for 36 months. The cash and stock issuance shall be paid as follows:

• 25 per cent of shares of SAM in consideration of $20,000 and 700,000 units of the company to be paid prior to Nov. 30, 2023;
• 25 per cent of the shares of SAM in consideration of $30,000 and 1.3 million units of the company by Dec. 31, 2024.

About King Global Ventures Inc.

King Global Ventures is a junior gold exploration company working on projects globally. Its primary project is its York property in Quebec. The York property comprises 77 claims exceeding 40 square kilometres. The York property is on trend between Azimut's Elmer property and the Eleonor gold mine. The Eleonor mine is hosted by rocks similar to the clastic sediments known to host the Ukaw gold showings.

We seek Safe Harbor.