VANCOUVER, BC, July 16, 2026 /CNW/ -- Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) ("Nevada King" or the "Company") is pleased to announce that it has received approval from the Bureau of Land Management ("BLM") for the fifth and most extensive modification to its Plan of Operations ("PoO Mod 5") at its 100% owned 130km2 Atlanta Gold Mine Project ("Atlanta") in eastern Nevada.
Highlights:
PoO Mod 5 Approval: The modification approves 78 additional reverse circulation ("RC") drill sites and 404 rotary air blast ("RAB") drill sites, enabling the Company to aggressively follow up on key mineralized targets and test extensions across the property. This approval builds on the Notice of Intent permit to drill the Western Rim target, which was announced on April 28, 2026.
Third Rig Mobilized: To accelerate the pace of discovery, the Company has secured a third drill rig, an additional RC rig now being mobilized to site, joining the RC and RAB rigs already operating at Atlanta. Both RC rigs will run continuously on two 12-hour shifts, significantly increasing the pace of exploration drilling.
Fully Funded: With approximately C$18.1 million in cash and equivalents, Nevada King remains fully funded to complete its 40,000 metre Phase 4 RC drill program, of which approximately 12,000 metres have been drilled to date.
John Sclodnick, CEO of Nevada King, stated: "Our team is excited to accelerate exploration at Atlanta as we return to several areas where prior drilling encountered mineralized gold and silver intercepts. We continue to experience tremendous benefits from our Nevada location, not just from the compelling mineral endowment, but also from the clear, predictable permitting pathway. Our fifth consecutive modification to the Plan of Operations demonstrates this permitting efficiency as well as the trusted relationship we have built with our regulators. We greatly appreciate the BLM's continued support and its thorough, efficient review, which was completed just two months after our formal submission."
The 482 drill sites approved today are primarily clustered in the Atlanta South, Silver Park, and Western Rim target areas (see Figure 1) and the Company has benefitted from the combination of both RAB and RC drilling. RAB drilling provides the Company with a rapid, low-cost, and efficient method of drilling through overburden and testing bedrock to identify mineralization and tracer elements. RC drilling, meanwhile, will test targets identified through prior drilling and exploration work with the goal of intercepting economic mineralization. The total new area of disturbance under the PoO Mod 5 is 21.1 acres increasing the project total to 73.4 acres.