K2 Gold Stakes New 21,887 Hectare District Scale Gold Project in Yukon Territory

About this update from K2 Gold Corporation

Vancouver, British Columbia--(Newsfile Corp. - May 4, 2026) - K2 Gold Corporation (TSXV: KTO) (OTCQB: KTGDF) (FSE: 23K) ("K2" or the "Company") today announced the staking of the 21,887 hectare Wolf Project, a new district-scale gold exploration project in west-central Yukon Territory, Canada, located 80 km south of the 3.0 Moz Au Coffee Gold Project currently under development by Fuerte Metals. Highlights: Project generated in-house by leveraging the extensive Yukon experience of K2's Technical team including Eric Buitenhuis, and John Robins, founder and former Chairman of Kaminak Gold Corp. The Wolf South claim block is host to a >10 km long gold-in-soil geochemical anomaly which was previously held by Teck Resources, Ryan Gold Corp., and Beringia Gold Corp.. K2 is the first company to hold the entire anomaly in a single land position. The project lies 30 km northeast of the Alaska Highway and powerline. The Wolf North claim blocks host greenfields targets and consist of a fault-controlled window exposing granitic intrusive rocks within volcanic cover and volcanic rocks with associated coarse gold and epithermal pathfinders in stream sediments. The project represents a rare opportunity to secure a large land position (1,044 claims, 21,887 hectares) across both known gold mineralization and compelling greenfields discovery targets. The company plans to restructure the ownership of its Yukon projects, including Wolf and the Wels property where drilling to date has intersected high-grade gold across all tested trends (including: 3.53g/t Au over 19.5m and 10.38 over 6.0m) into a wholly owned subsidiary to enhance future strategic flexibility. Anthony Margarit, President and CEO of K2 Gold, stated: "The Wolf Project is exactly the type of opportunity we look for at K2-district-scale, geologically compelling, underexplored, and located in one of the world's premier mining jurisdictions. Our technical team has been interested in the Wolf region since late 2024, we're excited to have secured the ground as the Yukon continues to attract attention as a top Canadian jurisdiction for exploration. "While we're excited about the Wolf Project, Mojave remains our flagship asset and our top priority as we advance toward drilling. Wolf strengthens our pipeline and gives K2 another high-quality discovery platform without distracting from the significant value...

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