Nevada King Gold to Effect Share Consolidation

About this update from Nevada King Gold Corp

VANCOUVER, BC, May 4, 2026 /CNW/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQB: NKGFF) ("Nevada King" or the "Company") is pleased to announce that, further to its news release dated April 10, 2026 and pursuant to the provisions of the Business Corporations Act (British Columbia) and the articles of the Company, the board of directors of the Company has approved and the Company intends to effect the consolidation of all of the issued and outstanding common shares of the Company (the "Common Shares") on the basis of one (1) new Common Share for every five (5) currently issued and outstanding Common Shares (the "Consolidation"). John Sclodnick, CEO of Nevada King commented: "This strategic consolidation is a key step in Nevada King's evolution to a more institutional capital structure. By optimizing our share count and increasing our share price, we are effectively removing barriers that have previously prevented some institutional investors from owning our shares. Following our recent C$16.3 million financing and the doubling of our Phase 4 drill program to 40,000 metres, this move ensures that our capital structure is as robust as our exploration pipeline, improving our ability to create long-term shareholder value." The Common Shares are expected to commence trading on a post-Consolidation basis on May 7, 2026 (the "Effective Date"). The new ISIN and CUSIP numbers for the post-Consolidation Common Shares will be CA64135V2049 and 64135V204, respectively. The Company will retain its current name, "Nevada King Gold Corp.", and trading symbol, "NKG". As of the date hereof, the Company has 501,834,569 Common Shares outstanding. Following completion of the Consolidation, the Company expects to have 100,366,913 Common Shares issued and outstanding, subject to adjustments for rounding. No fractional Common Shares will be issued in connection with the Consolidation. Any fractional interest arising from the Consolidation will be rounded to the nearest whole Common Share, with fractions of one-half (0.5) or greater rounded up to the nearest whole Common Share and fractions of less than one-half (0.5) rounded down to the nearest whole Common Share. No consideration will be paid in respect of rounded-down fractional Common Shares. The Company's outstanding stock options will be proportionately adjusted in accordance with their respective terms. Registered holders ...

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