K2 Mobilizes Drill - Mojave Project

About this update from K2 Gold Corporation

Vancouver, British Columbia--(Newsfile Corp. - June 16, 2026) - K2 Gold Corporation (TSXV: KTO) (OTCQX: KTGDF) (FSE: 23K) ("K2" or the "Company") today announced that mobilization of the drill rig to the Dragonfly Target has commenced at the Company's 100%-owned Mojave Project located in Inyo County, California. The Dragonfly Target was selected as the starting point for the program based on high grade results from K2's previous drilling and ongoing geological interpretation (see K2 News Release dated November 30, 2020). The target area hosts a broad zone of high-grade gold mineralization beginning at surface and remains one of several priority targets identified across the Mojave Project. "The mobilization of the drill rig to the Dragonfly Target marks a long-awaited milestone for K2. We appreciate the efforts of our contractors, regulators and stakeholders who have assisted in advancing the project to this stage, as well as the patience of our dedicated shareholders who have believed in the project. We look forward to drilling and systematically evaluating the significant exploration potential identified across the Mojave Project," stated Anthony Margarit, President and CEO of K2 Gold. The Mojave Project is located in Inyo County, California and consists of approximately 5,830 hectares of mining claims and patented ground prospective for gold and polymetallic mineralization. Historical and recent exploration has identified multiple target areas across the property, including Dragonfly, Newmont, Gold Valley, Soda Valley and Morningstar. Further updates will be provided when drilling commences, and as assay results become available. Qualified Person ("QP") and QA/QC The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Eric Buitenhuis, M.Sc., P.Geo., K2's QP and Vice President of Exploration. About K2 Gold Corporation K2 Gold is part of Discovery Group, an alliance of companies responsible for the discovery of over 10 million ounces of gold. K2 also holds: The Si2 Project is a low-sulphidation epithermal gold system located in Nevada within the Walker Lane Trend. Historical shallow drilling tested only the uppermost levels of the system and returned anomalous gold, silver, and pathfinder ...

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