Mr. John Sclodnick reports

NEVADA KING REVIEWS 2025 ACHIEVEMENTS AND 2026 EXPLORATION STRATEGY

Nevada King Gold Corp. has provided a summary of its key accomplishments during 2025 and reviewed its exploration strategy for 2026 at its 100-per-cent-owned 130-square-kilometre Atlanta gold mine project in eastern Nevada. During 2025, Nevada King delivered significant technical, exploration and corporate milestones that materially advanced Atlanta and positioned the company for continued growth through discovery.

2025 highlights

Resource growth and derisking metallurgy:

• In June, 2025, Nevada King released an updated National Instrument 43-101 mineral resource estimate for Atlanta, increasing measured and indicated resources by 122 per cent to over one million ounces of oxide gold contained within 27.7 million tonnes grading 1.14 grams per tonne gold, establishing Atlanta as one of the highest-grade open-pit oxide gold projects in North America.
• Phase 2 metallurgical testing continued to demonstrate strong oxide recoveries using conventional processing methods and now supports a more simplified flow sheet with run-of-mine (ROM) heap leaching for the non-silicified volcanics and two-stage crushing for the mill material.

Exploration success:

• Nevada King completed a 30,000-metre phase 3 drilling program, designed to test regional targets beyond the Atlanta resource zone (ARZ) across the district-scale land package, much of which is concealed beneath thin postmineral cover.
• The program successfully identified multiple new oxide gold targets, establishing a pipeline of exploration opportunities at various stages of advancement.
• Silver Park East emerged as the most advanced new discovery, rapidly progressing from reconnaissance drilling to now infill-stage exploration. Drilling confirmed a broad zone of near-surface oxide gold and silver mineralization covering an approximately 450-metre-by-300-metre footprint, hosted along the same unconformity and within the same geological framework as the ARZ.
• Phase 3 drilling advanced targets at Atlanta South and Atlanta North and led to the identification of the Western Rim target, a large-scale, early-stage opportunity characterized by extensive multidirectional quartz veining with rock-chip samples grading up to 20.8 grams per tonne gold.

Strengthening the leadership team

During 2025, Nevada King strengthened its leadership team to support the next phase of growth:

• John Sclodnick was appointed chief executive officer, bringing extensive capital markets experience and strong institutional investor and corporate relationships.
• Jeff Stieber joined as chief financial officer, bringing extensive experience from precious metals companies at various development stages and enhancing financial oversight.
• Justin Daley was appointed vice-president, exploration, adding deep technical experience and advanced, data-driven exploration capabilities.
• Collin Kettell was appointed chairman of the board, further strengthening governance and strategic leadership.

Outlook for 2026

Building on the momentum of 2025, Nevada King enters 2026 with a fully financed exploration program and a clear strategy to advance its most prospective regional targets. The company's phase 4 exploration program, announced on Dec. 11, 2025, includes an initial 20,000 metres of drilling focused on:

• Advancing Silver Park East through infill drilling with the objective of evaluating its potential as a satellite oxide resource;
• Continuing follow-up drilling at Atlanta South and Atlanta North along the West Atlanta fault, the primary mineralizing structure at Atlanta;
• Advancing the Western Rim target through additional geophysical surveys and initial drill testing.

John Sclodnick, chief executive officer of Nevada King, stated: "Two thousand twenty-five was a transformational year for Nevada King. We significantly grew and improved the confidence of our resource base, demonstrated strong metallurgy, built a pipeline of new regional discoveries and strengthened our leadership team. The phase 3 exploration program exceeded expectations and Silver Park East now represents a compelling opportunity to continue to expand the resource base at Atlanta. As we move into 2026, we are fully funded for our phase 4 drill program and remain focused on growing ounces while minimizing costs."

Quality assurance/quality control protocols

All reverse circulation (RC) samples from Atlanta are split at the drill site and placed in cloth and plastic bags utilizing a nominal two-kilogram sample weight. CRF standards, blanks and duplicates are inserted into the sample stream on site on a one-in-20 sample basis, meaning all three inserts are included in each 20-sample group. Samples are shipped by a local contractor in large sample shipping crates directly to American Assay Lab in Reno, Nev., with full custody being maintained at all times. At American Assay Lab, samples were weighed then crushed to 75 per cent passing two millimetres and pulverized to 85 per cent passing 75 microns to produce a 300-gram pulverized split. Prepared samples are initially run using a four-acid-plus-boric-acid-digestion process and conventional multielement ICP-OES analysis. Gold assays are initially run using 30-gram samples by lead fire assay with an OES finish to a 0.003-part-per-million 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 Nevada King vice-president, exploration, Justin Daley, PGeo, a non-independent qualified person as defined by NI 43-101.

About Nevada King Gold Corp.

Nevada King is focused on advancing and growing its 100-per-cent-owned, past-producing, 130-square-kilometre Atlanta gold mine project, located along the Battle Mountain trend in southeastern Nevada. The project hosts an NI 43-101-compliant pit-constrained oxide resource of 1.02 million ounces gold in the measured and indicated category (27.7 million tonnes at 1.14 grams per tonne) plus an inferred resource of 99,000 ounces gold (3.6 million tonnes at 0.84 gram per tonne). See the NI 43-101 technical report titled "Technical Report and Estimate of Gold and Silver Mineral Resources for the Atlanta project, Lincoln County, Nevada, USA," with an effective date of Sept. 6, 2024, and a report date of July 18, 2025, as prepared by Respec (formerly Mine Development Associates) and filed under the company's profile on SEDAR+.

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