Mr. Anthony Margarit reports

K2 GOLD WARRANT EXTENSION

K2 Gold Corp. intends to extend the exercise period for the following warrants:

• 11,988,250 warrants, exercisable at 30 cents per common share expiring on Feb. 1, 2025, which were issued pursuant to a private placement previously closed on Feb. 1, 2023. The company proposes to extend the expiry dates for these warrants to Oct. 1, 2025;
• 10.45 million warrants, exercisable at 30 cents per common share expiring Feb. 15, 2025, which were issued pursuant to a private placement previously closed on Feb. 15, 2024. The company proposes to extend the expiry dates for these warrants to Oct. 1, 2025.

About K2 Gold Corp.

K2 is a proud member of Discovery Group and currently has three projects in southwestern United States and Yukon.

The Mojave project is a 5,830-hectare oxide gold project with base metal targets located in Inyo county in California. Multiple previously recognized surface gold targets have been successfully drilled in the past, most notably by Newmont and BHP. Since acquiring the property, K2 has completed geochemical and geophysical surveys, geologic mapping, lidar (light detection and ranging), and a WorldView 3 alteration survey, and successfully completed a 17-hole RC (reverse circulation) drill program focused on the Dragonfly and Newmont zones. Highlights from K2's drilling program include 6.68 grams per tonne (g/t) gold (Au) over 45.72 metres (m) from surface at the Dragonfly zone and 1.69 g/t Au over 41.15 m from a depth of 44.20 m at the Newmont zone.

The Si2 gold project is located in Esmeralda county, approximately 60 kilometres (km) northwest of Tonopah, Nev., and 20 kilometres northwest of Allegiant Gold's Eastside deposit (1.4 million ounces (oz) Au and 8.8 million oz silver (Ag)). The project is road accessible and consists of 118 BLM (Bureau of Land Management) lode claims covering 986 hectares (ha), 65 of which are under option from Orogen Royalties Inc. The claims cover an eight-square-kilometre area of steam-heated alunite-kaolinite-buddingtonite alteration within a sequence of felsic to intermediate volcanic rocks displaying brecciation and strongly anomalous mercury.

K2's 2023 diamond drill program at the Si2 project confirmed that the system is gold bearing. The project was initially identified using the same methods and by the same exploration team that identified AngloGold Ashanti's 4.21-million-ounce-gold silicon project (1) near Beatty, Nev., and was staked based on its strong geological similarities to silicon.

The Wels project lies approximately 40 km east of the community of Beaver Creek and 60 km south of Newmont Goldcorp's Coffee deposit discovered by Kaminak Gold Corp. (formerly a Discovery Group company prior to its acquisition by Goldcorp-Newmont). Both the Coffee project and the Wels project lie within the Tintina gold belt, share similar characteristics and are host to structurally controlled gold mineralization within intrusive rocks exhibiting multiple trends of mineralization.

K2's 2023 reverse circulation drilling program at the Wels project intersected gold in every drill hole, including the discovery of a new mineralized corridor at the Saddle South target. The Wels land position consists of 350 contiguous quartz claims covering 7,200 hectares and lies within the traditional territory of White River First Nation.

K2 is committed to transparency, accountability, environmental stewardship, safety, diversity, inclusion, and community and indigenous engagement.

We seek Safe Harbor.