Nevada King Announces Fully Funded 20,000m, Phase 4 Exploration Program Designed To Advance Multiple Regional Targets Identified In Phase 3

Nevada King Gold Corp. (TSXV: NKG) (OTCQB: NKGFF) ("Nevada King" or the "Company") is pleased to announce the launch of its fully-funded Phase 4 regional exploration program at its 100% owned 130km² Atlanta Gold Mine Project in eastern Nevada. Phase 4 follows the successful completion of Nevada King's 30,000m Phase 3 drilling program, which achieved its objective of identifying new regional oxide mineralization outside of the Atlanta Resource Zone ("ARZ") and building a pipeline of potential satellite deposit targets at various levels of advancement.

Phase 4 will consist of an initial 20,000m of drilling and is designed to rapidly advance the most prospective of these new targets, led by Silver Park East, while continuing systematic reconnaissance and follow-up drilling across the broader land package.

Phase 4 Highlights:

• 5,000m allocated to Silver Park East to tighten spacing across the current 450m by 300m mineralized footprint and test a 270m gap to the southeast. Initial Silver Park East drilling will infill and target structural intersections to evaluate potential resource conversion.
• 15,000m allocated to advancing Atlanta South, Atlanta North, and Western Rim with the metreage allocated to each target to be determined by drill results (see Figure 1).
• There are currently two reverse circulation ("RC") drills on site located at Silver Park East and Atlanta South (see Figure 2). Drill sequencing will then see a rig move to Atlanta North, followed by Western Rim.
• The Company will also apply for its 5^th modification to its Plan of Operations, expanding it to the west to allow for better access to drill the new Western Rim target area.
• Phase 4 is designed to continue Nevada King's systematic process of: 1. Identifying new near-surface oxide zones; 2. Testing structural controls and vectoring toward higher grade domains; and 3. Advancing successful targets into infill and resource definition drilling.

John Sclodnick, CEO of Nevada King, stated: "Phase 3 drilling has demonstrated tremendous exploration upside across our 130 km² Atlanta land package, the vast majority of which lies hidden beneath post-mineral cover. Importantly, we've discovered a new mineralized zone at Silver Park East, 2 km from the existing resource, where Phase 4 drilling will aim to define the overall scale of this potential satellite oxide deposit. This is a major milestone that validates both the strength of the mineral system and the effectiveness of our targeting approach.

"Just as significant, we continue to systematically add high-priority targets, including Western Rim, to maintain a strong pipeline of prospective discoveries. With 1.1 million ounces already defined, Atlanta stands out as one of the rare and potentially large-scale gold systems in the U.S. that sits on the cusp of critical mass. Phase 4 is laser-focused on pushing us over that threshold, and Silver Park East represents the most immediate opportunity to grow the resource."

Justin Daley, VP Exploration of Nevada King, stated "Phase 3 provided critical geological and structural data from across the broader caldera system, validating our regional targeting models outside the main Atlanta Resource Zone. Our systematic, data-driven approach, will significantly advance our pipeline of high-priority targets and Phase 4 is specifically designed to vector toward higher-grade domains, to fast-track resource conversion, and unlock the full, district-scale potential of the Atlanta land package."

Silver Park East
Located approximately 2km west of the Atlanta Resource Zone, Silver Park East ("SPE") represents the most advanced target emerging from Phase 3. Mineralization is hosted along the same unconformity and within the same intrusive host rocks as the ARZ, with geological, geochemical, and structural evidence indicating a shared mineralizing system. Phase 4 drilling at SPE will further define the existing 450m x 300m mineralized zone, test cross-cutting structures for potential higher grades, evaluate continuity sufficient for a potential inferred resource, and expand drilling to the south and east where additional mineralization has been identified.

Atlanta South
Approximately 2km south of the ARZ, drilling at Atlanta South targets the West Atlanta Fault corridor. Mineralization intercepted in Phase 3 is hosted within Pogonip Limestone, a key host for Carlin-type gold in Nevada, and is associated with the highest arsenic values measured on the property to date, further evidence for this new deposit type at Atlanta. Phase 4 drilling aims to refine vectors toward stronger mineralization using the expanded geologic and geochemical dataset gained through Phase 3.

Atlanta North
Atlanta North extends roughly 4km north from the ARZ along the West Atlanta Fault, a crucial pathway for gold mineralization, and remains in early exploration. A Nevada King drill hole grading 0.28g/t over 36.6m has created a ~3km gap to a historical hole that returned 0.88g/t Au over 10.7m. Phase 4 drilling will test this gap for additional near-surface oxide mineralization.

Western Rim
Western Rim represents a large-scale early-stage opportunity characterized by multidirectional quartz veins hosting Au-Ag-As-Mo mineralization traced over approximately 2.5km, with individual veins extending up to 1km. Rock chip sampling has returned grades up to 20.8 g/t Au. The Company will complete additional geophysical surveys in advance of drilling and is applying for a Plan of Operations modification to expand access to the Western Rim target area.

Advanced Targeting and AI Integration
Nevada King continues to advance targeting using multiple layers of geoscientific data including CSAMT, drone magnetics, gravity, hyperspectral, geochemistry, and rock sampling. These datasets have recently been integrated through machine learning analysis, generating an internally ranked pipeline of early-stage targets which have been independently reviewed by the field team. Phase 4 drilling will prioritize the highest-ranked areas identified through this process.

Webinar
Join CEO John Sclodnick for additional context on a live webinar on Monday December 15^th at 12pm ET/ 9am PT. Click here to register and reserve your spot.

QA/QC Protocols

All RC samples from the Atlanta Project are split at the drill site and placed in cloth and plastic bags utilizing a nominal 2kg sample weight. CRF standards, blanks, and duplicates are inserted into the sample stream on-site on a one-in-twenty sample basis, meaning all three inserts are included in each 20-sample group. Samples are shipped by a local contractor in large sample shipping crates directly to American Assay Lab in Reno, Nevada, with full custody being maintained at all times. At American Assay Lab, samples were weighted then crushed to 75% passing 2mm and pulverized to 85% passing 75 microns to produce a 300g pulverized split. Prepared samples are initially run using a four acid + boric acid digestion process and conventional multi-element ICP-OES analysis. Gold assays are initially run using 30-gram samples by lead fire assay with an OES finish to a 0.003 ppm detection limit, with samples greater than 10 ppm finished gravimetrically. Every sample is also run through a cyanide leach for gold with an ICP-OES finish. The QA/QC procedure involves regular submission of Certified Analytical Standards and property-specific duplicates.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Nevada King VP Exploration, Justin Daley, P.Geo., a non-independent Qualified Person as defined by National Instrument 43-101 ("NI 43-101").

About Nevada King Gold Corp.

Nevada King is focused on advancing and growing its 100% owned, past producing, 130km² Atlanta Gold Mine project located along the Battle Mountain trend in southeast Nevada. The project hosts an NI 43-101 compliant pit-constrained oxide resource of 1,020koz Au in the measured and indicated category (27.7M tonnes at 1.14 g/t) plus an inferred resource of 99koz Au (3.6M tonnes at 0.84 g/t). See the NI 43-101 Technical Report titled "Technical Report and Estimate of Gold and Silver Mineral Resources for the Atlanta Project, Lincoln County, Nevada, USA" with an effective date of September 6, 2024, and a report date of July 18, 2025, as prepared by RESPEC (formerly Mine Development Associates) and filed under the Company's profile on SEDAR+ www.sedarplus.ca.

NI 43-101 Mineral Resources at the Atlanta Mine by RESPEC 2025

Please see the Company's website at www.nevadaking.ca.

For more information, contact John Sclodnick at john@nevadaking.ca.

The Company's telephone number is (845) 535-1486.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Nevada King, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Nevada King, are inherently subject to significant business, economic, technical, geologic, environmental, regulatory, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Nevada King does not assume any obligation to update forward-looking statements should beliefs, opinions, projections, or other factors, change, except as required by applicable securities laws.

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SOURCE Nevada King Gold Corp.