NEVADA KING INTERCEPTS 4.68 G/T AU OVER 7.3M AND 1.00 G/T AU OVER 26.8M NEAR SURFACE AND BOTTOMING IN MINERALIZATION AT EAST RIDGE TARGET

About this update from Nevada King Gold Corp

VANCOUVER, BC, July 7, 2026 /CNW/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) (" Nevada King " or the " Company ") is pleased to provide an update from its ongoing Rotary Air Blast (" RAB ") reconnaissance exploration program. Drilling has encountered new, high-grade, near-surface gold mineralization at its East Ridge Target (" ERT "), located immediately east of the Atlanta pit at its 100% owned, 130km2 Atlanta Gold Mine Project (" Atlanta ") in eastern Nevada. In tandem with the ongoing 40,000m Reverse Circulation (" RC ") drill program, the Company is also continuing its reconnaissance exploration across its property with the highly efficient RAB drill, which allows the team to rapidly test early-stage targets down to a maximum depth of 30 metres. Initial RAB results confirm the presence of robust gold mineralization east of the Atlanta pit and outside the current resource area, enhancing the potential for converting waste rock into mineable mineralization within a future pit shell as defined by the existing resource calculation (see Figure 1 ). Follow-up drilling with the deeper RC rig will test for depth continuity with a goal of finding what is driving these high-grade gold occurrences. The Company intends to follow up on these results in the second half of the year, once the fifth and most extensive modification to its Plan of Operations (" PoO Mod 5 ") is approved by the Bureau of Land Management. Upon approval, this modification will permit an additional 78 RC drill sites and 404 RAB drill sites across the entire property (see news release dated April 28, 2026 ). Highlight Near-Surface Oxide Gold Results from RAB Drilling at the East Ridge Target (see Table 1 for full list of assay results): Exploration Context and Geological Model Prior to the Company's acquisition of Atlanta in 2018, the ERT remained undrilled because previous operators considered the gold mineralization outcropping along the ridge to be a thin scab only a few metres thick. Mapping and sampling by Nevada King in 2021 revealed gold mineralization within strongly silicified collapse breccias that is closely associated with the same weakly mineralized felsic dikes, observed throughout the resource zone. Subsequent CSAMT (Controlled-source Audio Frequency Magnetotellurics) surveys across the resource zone and adjacent ERT in 2022 and 2023 outlined near-vertical, low resistivity bodies interpreted as high-angle, sub-volcanic intrusions directly beneath the observed surface mineralization within both the resource zone and ERT. This geophysical data prompted the Company to construct roads and drill 15 widely spaced RC holes across the southern part of the ERT in 2024, looking for additional mineralization that could expand the resource and decrease the strip ratio. Notable results from that program included 22.9m grading 1.32 g/t Au starting at surface in hole AT24ET-11, and 21.3m grading 0.53 g/t Au starting at 12.2m in hole AT24ET-13 (see news release dated  July 16, 2024 ). 

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