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TSX-V: NKG

Atlanta Gold Mine

Past producer with established resource and upside potential

Underground and small-scale surface mining 1905-1966

Open pit mining by Standard Slag (1975-1985) recovered 110,000 oz Au and 800,000 oz Ag from 1.5M tons.

Examples of historical drill hole intercepts (NI 43-101 compliant) reported from the property within the 2018 resource zone

  • 24.4m grading 11.77 g/t Au, including 4.6m of 45.54 g/t Au
  • 27.4m grading 3.93 g/t Au including 5.5m of 7.30 g/t Au
  • 30.5m grading 4.81 g/t Au including 3.7m of 21.83 g/t Au
  • 67.1m grading 2.12 g/t Au including 12.2m of 5.60g/t Au at 224.1m-240.9m

Road accessible, camp in place, power and water both provided to site; Plan of Operation is in place

In addition to upgrading Inferred ounces in the pit to Measured, as well as adding more ounces into the pit, Atlanta demonstrates several untouched gold targets outside of the pit area.

Current NI 43-101 compliant gold resource by Gustavson (2018) using a 0.4 g/t cut-off and $1250/ounce gold price:

Resource Category Tonnes (000’s) Au Grade (ppm) Contalned Au Oz (000’s) Ag Grade (ppm) Contalned Ag Oz (000’s)
Measured 4,130 1.51 200 14.0 1,860
Indicated 6,910 1.17 260 10.6 2.360
Measured + Indicated 11,000 1.30 460 11.9 4,220
Inferred 5,310 0.83 142 7.3 1.240

* Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that the Mineral Resources will be converted to Mineral Reserves. The quantity and grade are estimates and are rounded to reflect the fact that it is an approximation. Quantities may not sum due to rounding. Kevin Francis, SME RM, of Gustavson Associates is the Qualified Person with responsibility for the mineral resource estimate. Mineral Resources do not have modifying factors or dilution applied. Mineral Resources are presented at a 0.35 ppm gold only cutoff grade and constrained by a pit optimization shell developed at $1500/ oz Au.

Atlanta Gold Mine

2020-2021 exploration
Budget

Environmental Review
$10,000
Infrastructure
$40,000
Soil Sampling (6000 samples, includes labor)
$264,000
Rock Samples (500)
$16,000
Airmag (1,200 line-km)
$74,400
Gravity (1200 stations)
$50,000
CSAMT
$90,000
RC Drilling (7,500m @ $82/m)
$615,000
Core Drilling (1,524m @ $328/m)
$500,000
Drill Sample Assays (6,000 @ $35per)
$210,000
Geologists
$90,000
Labor
$35,000
Environmental Review
$25,000
Road and Pad Construction
$20,000
Permitting (including reclamation)
$100,000
Metallurgical Testwork
$130,000
Preliminary Economic Assessment and 43-101 Report
$140,000
Annual Claim maintenance, Taxes, Carrying Costs
$140,000
General and Administrative
$100,000
Total
$2,509,400 USD

2021

Anticipated Exploration
Program
$2.5M USD

5,500m of core and RC drilling around pit area to convert inferred to indicated resources and add new resources to the north, east, and southwest

5,100m of reconnaissance RC drilling to test new targets in other parts of the property

District-scale geophysical surveys

Exploration outside of the Atlanta resource zone will initially focus on targets identified by historical magnetic and geochemical anomalies -- these being primarily located in outcrop. The 2021 geophysical and geochemical programs will cover the entire district, thereby enabling Nevada King to greatly expand its search into areas covered by shallow alluvium and post-mineral volcanics, which cover most of the district.