Vancouver, British Columbia, May 4, 2023 /CNW/- Nevada King Gold Corporation (TSXV: NKG) (OTCQX: NKGFF) (“Nevada King” or “company“) teeth, 60,000m 5,166 hectares (51.6 km²), the 100% owned Atlanta gold mining project is located in the prolific Battle Mountain Trend, located 264 km northeast of California. Las Vegas, Nevada.

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• increase to 60,000m doubles the size of Nevada Kings Phase II Expansion and Definition Drill Program at Atlantarecently announced $15 million Our funding is about $20 million Provide sufficient working capital to fully fund this expanded Phase II Atlanta program.
• Nevada King As operating conditions improve by the spring, additional rigs will be procured to accelerate the drilling program, increasing to a minimum of four rigs by the summer.
• Since the Phase 2 Atlanta training program began, June 2022 Nevada King Completed 185 reverse cycles (“RC“) hole total 29,122m 14 core holes total 1,215m, the sum of 30,337m Excavation. to date Nevada King We report assays from 124 wells covering 17,647m and Results from a total of 75 drilled holes 12,690m Currently pending.
• The decision to double the size of the drilling program was the result of significant new and thicker mineralization intersected with the highest gold and silver grades to date. Atlanta include 28.5 g/t Au or more 7.6m and 1,084 g/t Ag or more 10.7m.

Cal HerronExploration Manager Nevada King“The results to date from the Phase II drill program have greatly exceeded our initially high expectations. indicates that Atlanta A robust gold system (see Table 1 below). We have successfully outlined two heavily mineralized zones. Atlanta mine fault zone (“AMFZMore“) and the newly identified West Atlanta Graven Target (“WAGT“). Both zones remain open along depth and strike, showing additional excavation.

“Additional drilling is also required in several other target areas (Figure 1). Part of this drilling will be designed to establish connections between the North Extension target mineralization and key resource zones. Drilling is expected to begin soon on the East Ridge, while the South Expansion target, which will see mineralization during initial drilling in 2021 and 2022, will provide mineralized resources in an area where little or no prior drilling has been completed. West of the WAGT is the West Atlanta Graben extension target.Past drilling has been demonstrated by the Meadow Bay core hole DHRI-11-11C, which intercepted 0.57 g/t Au. , indicating extensive gold mineralization. 152 meters. Nevada King This area, which remains wide open to the west, has not yet been excavated. In the larger picture, we also have a keen interest in what lies underneath. Atlanta mineralization system.our hole Along Section 6N Intercepted Gold Mineralized Intrusive Rock 180m depth that strongly suggests Atlanta The Gold system is dominated by the invasive type and is tied to a larger invasive body at depth. ”

qualified person

The scientific and technical information in this news release is Calvin R. HeronP.Geo., National Instrument 43-101 (“NI 43-101”).

About Nevada King Gold Corporation

Nevada King is the third largest mineral claim holder in the world. Nevadabehind nevada gold mine (Barrick/Newmont) and kinros goldSince 2016, the company has staked large project areas and hosted significant historical exploration work. battle mountain Trends located near current or former gold mines. These project areas were initially targeted based on their potential to host multi-million ounce gold deposits and were then staked out following detailed geological assessments.Regional scale project Nevada Kings The portfolio includes (1) 100% owned Atlanta mines. Ely(2) Lewis and Horse Mountain-Mill Creek Project. of the Nevada gold mine big phoenix and pipeline mines, and (3) Iron Point projects. Winnemucca, Nevada.

The company is well funded and has approximately $5.4 million the current May 2023recently announced $15 million About the funding the company will have $20 million of working capital.

The Atlanta Mine is a historic gold and silver producing site and complies with NI 43-101 and has a pit limit resource of 460,000 ounces of Au in the measured and labeled category (11.0M 1.3 g/t tons) plus 142,000 oz Au (5.3M 0.83 g/t). “Atlanta Property, Lincoln County, Nevada” effective date October 6, 2020and reporting date December 22, 2020as prepared by Gustavson Associates and filed under the company profile of SEDAR (www.sedar.com).

NI 43-101 Atlanta Mine Mineral Resources

Please visit our website. www.nevadaking.ca.

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Cautionary Note Regarding Forward-Looking Statements

This news release contains certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). All statements other than statements of historical fact are hereby included, but not limited to, statements regarding future operations and activities. Nevada King, are forward-looking statements. Forward-looking statements include, but are not always, “expects,” “anticipates,” “believes,” “intends,” “estimates,” “could,” “could,” etc. is often identified by the word , and similar expressions or descriptions. that an event, condition, or outcome “occurs,” “could,” “could,” or “should occur,” or be achieved. Forward-looking statements in this news release relate, among other things, to our exploration plans and our ability and impact to potentially expand our mineral resources. There can be no assurance that such statements will prove to be accurate, and actual results and future events may differ materially from those anticipated in such statements. They reflect beliefs, opinions and projections at the time the statements were made and are based on a number of assumptions and assumptions. Nevada Kingare inherently subject to , business, economic, competitive, political and social uncertainties and unforeseen circumstances. A number of known and unknown factors may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. There is a possibility. To or related to many of these factors. Such factors include the ability to complete proposed exploration work given the global COVID-19 pandemic, the results of exploration, the continued availability of capital, and the general economic, market and business including, but not limited to, changes in the circumstances of Readers should not place undue reliance on the forward-looking statements and information contained in this news release with respect to these items. Nevada King does not undertake any obligation to update any forward-looking statements if their beliefs, opinions, projections or other factors change, except as required by applicable securities laws.