02:35 PM EDT, 06/16/2026 (MT Newswires) -- K2 Gold ( KTGDF ) looks set to end Tuesday with a modest gain after saying earlier in the day that mobilization of the drill rig to the Dragonfly Target has begun at its 100%-owned Mojave Project located in Inyo County, California.

The Dragonfly Target was selected as the starting point for the program based on high grade results from K2's previous drilling and ongoing geological interpretation, said the company. The target area hosts a broad zone of high-grade gold mineralization beginning at surface and remains one of several priority targets identified across the Mojave Project.

"The mobilization of the drill rig to the Dragonfly Target marks a long-awaited milestone for K2," said Anthony Margarit, President and Chief Executive Officer. "We appreciate the efforts of our contractors, regulators and stakeholders who have assisted in advancing the project to this stage, as well as the patience of our dedicated shareholders who have believed in the project. We look forward to drilling and systematically evaluating the significant exploration potential identified across the Mojave Project."

The company's shares were last seen up $0.01 at $0.68 on the TSX Venture Exchange.

Price: 0.68, Change: +0.01, Percent Change: +1.49