Mr. Paul Matysek reports

NEVADA KING MOBILIZES A FOURTH RIG TO ATLANTA, RESUMES CORE DRILLING FOR ONGOING METALLURGICAL TESTING PROGRAM AND RESOURCE CONFIRMATION

Nevada King Gold Corp. has mobilized a diamond core drill to its 5,166-hectare (51.6-square-kilometre), 100-per-cent-owned Atlanta gold mine project, located in the prolific Battle Mountain trend, 264 kilometres northeast of Las Vegas, Nev. There are now four drill rigs operating at Atlanta -- three reverse circulation (RC) rigs and one diamond core drill. The company has also released the results of its 2023 meeting of shareholders.

Highlights:

• Core drilling will focus on a series of six strategically placed PQ holes totalling 1,480 metres along high-grade corridors in and around the historic Atlanta pit, which will be used for the continuing metallurgical testing program as well as confirmation of proximal RC hole results.
• The company continues to utilize one RC rig to define deeper mineralization within the West Atlanta graben (WAG) while a second RC rig is targeting shallower mineralization along the Atlanta mine fault zone, with closer-spaced drilling designed to better define high-grade zones discovered by Nevada King within the main resource area. A third RC rig is currently drilling a series of widely spaced exploration holes at the Western Knolls prospect, located 5.5 kilometres west of the Atlanta pit, testing a variety of geochemical and geophysical anomalies.
• From inception of the phase I drill program in June, 2021, into the continuation of phase II, Nevada King has drilled 346 RC holes totalling 55,186 metres and 17 core holes totalling 1,398 metres for a total of 56,584 metres. Assays from 234 drill holes totalling 32,876 metres have been reported, with results pending for 129 drill holes totalling 22,314 metres.
• The existing resource model (see attached table) at Atlanta is based on 71 historic drill holes and does not incorporate any of the phase I or phase II drilling completed by Nevada King to date -- drilling that continues to expand mineralization northward and southward outside of the resource model as well as westward into the WAG.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Calvin R. Herron, PGeo, who is a qualified person as defined by National Instrument 43-101.

2023 shareholder meeting results

Nevada King reports the results of its annual general and special meeting of shareholders held on Sept. 20, 2023, in Vancouver, B.C., Canada. At the meeting, shareholders approved all of the resolutions detailed in the related management information circular, namely:

• Setting the number of directors to be elected at the meeting at four;
• Electing all nominee directors to the board of directors of the company for the ensuing year;
• Appointing Davidson & Co. LLP, chartered professional accountants, as auditor of the company to hold office until the next annual meeting of shareholders or until a successor is appointed and authorizing the directors of the company to fix the remuneration of the auditor;
• Approving the stock option plan of the company.

Votes representing 114,888,492 shares, or 36.51 per cent, of the issued and outstanding shares of the company as at the record date were cast. An attached table details the results.

About Nevada King Gold Corp.

Nevada King is the third-largest mineral claimholder in the state of Nevada, behind Nevada Gold Mines (Barrick/Newmont) and Kinross Gold. Starting in 2016, the company has staked large project areas hosting significant historical exploration work along the Battle Mountain trend located close to current or former producing gold mines. These project areas were initially targeted based on their potential for hosting multimillion-ounce gold deposits and were subsequently staked following a detailed geological evaluation. District-scale projects in Nevada King's portfolio include: (1) the 100-per-cent-owned Atlanta mine, located 100 kilometres southeast of Ely; (2) the Lewis and Horse Mountain/Mill Creek projects, both located between Nevada Gold Mines' large Phoenix and Pipeline mines; and (3) the Iron Point project, located 35 kilometres east of Winnemucca, Nev.

The Atlanta mine is a historical gold-silver producer with an NI 43-101 compliant pit-constrained resource of 460,000 ounces gold in the measured and indicated category (11.0 million tonnes at 1.3 grams per tonne) plus an inferred resource of 142,000 ounces gold (5.3 million tonnes at 0.83 gram per tonne) (see the NI 43-101 technical report on resources titled "Atlanta Property, Lincoln County, NV," with an effective date of Oct. 6, 2020, and a report date of Dec. 22, 2020, as prepared by Gustavson Associates and filed under the company's profile on SEDAR+).

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