Mr. John Sclodnick reports

NEVADA KING ANNOUNCES GOLD BULLION HOLDINGS AS PART OF TREASURY MANAGEMENT PROGRAM

As part of a treasury management program approved by its board of directors, Nevada King Gold Corp. has purchased $8-million in exchange-traded securities backed by physical gold bullion held by the Royal Canadian Mint, representing exposure to approximately 1,240 ounces of gold. The securities were acquired at an average cost of approximately $4,340 (U.S.) per ounce. The company does not anticipate liquidating this position for at least 12 months.

To finance anticipated expenditures over the next 12 months, including the phase 4 drill program, the company holds portions of its treasury in interest-bearing operating accounts, with an additional $5-million held in short-term investments, consisting of GICs (guaranteed investment certificates) and short-duration, investment-grade debentures with rolling maturities ranging from one to 10 months. The company expects to hold these securities to maturity, at which point the proceeds will either be held in operating accounts to finance near-term expenditures or reinvested in similar securities with an appropriate duration. As at Sept. 21, 2026, the company's cash, short-term investments and gold holdings totalled approximately $16-million.

John Sclodnick, chief executive officer of Nevada King, commented: "While this is a new approach to treasury management for an exploration-stage company, our cash and short-term investments are sufficient to cover our anticipated spending beyond the next 12 months, including our ongoing phase 4 drill program. This allows us to take a longer view on allocating the balance of our treasury, and, rather than hold that portion entirely in cash, we have chosen to hold gold, the commodity that the company explores for. As a result, the value of this portion of our treasury will now rise and fall with the gold price."

Risks relating to the treasury management program

The company's gold holdings expose its treasury to the price of gold, which can decline over short periods. The market value of the holdings may fall below their acquisition cost, and the company may realize a loss if the holdings are sold. Because gold is priced in U.S. dollars and the company reports in Canadian dollars, the value of the holdings is also exposed to changes in the U.S.-dollar/Canadian-dollar exchange rate. A decline in value would reduce capital available to finance the company's exploration programs. The exchange-traded securities are not cash equivalents and may be less liquid than cash or short-term investments and are subject to the terms of the securities and the performance of their issuer. The holdings are expected to be measured at fair value, which will introduce volatility into the company's reported financial results from period to period. There is no assurance that holding gold will preserve or increase the value of the company's treasury relative to holding cash.

About Nevada King Gold Corp.

Nevada King is focused on advancing and growing its 100-per-cent-owned, past-producing, 130-square-kilometre Atlanta gold mine project, located along the Battle Mountain trend in southeastern Nevada. The project hosts a National Instrument 43-101-compliant pit-constrained oxide resource of 1.02 million ounces gold in the measured and indicated category (27.7 million tonnes at 1.14 grams per tonne) plus an inferred resource of 99,000 ounces gold (3.6 million tonnes at 0.84 gram per tonne) based on $2,200 (U.S.) per ounce gold and $25 (U.S.) per ounce silver. For the full particulars of the mineral resource, including the assumptions relating thereto, 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 Sept. 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+.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Nevada King vice-president, exploration, Justin Daley, PGeo, a non-independent qualified person as defined by NI 43-101.

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