07:20 AM EDT, 06/04/2025 (MT Newswires) -- Nevada King Gold Corp. ( NKGFF ) , trading near 52 week lows, reported Wednesday an updated Mineral Resource Estimate for its 12,000 hectare, 100% owned Atlanta Gold Mine Project, located in the "prolific" Battle Mountain Trend, 264km northeast of Las Vegas, Nevada.

Among Atlanta resource highlights it cited Measured and Indicated resources of 27.7 million tonnes (Mt) at an average gold grade of 1.14g/t for 1,019,600 ounces of contained gold, representing a more than doubling (122% increase) of M&I resources compared to the 2020 resource estimate. It said this highlights the success of the company's Phase I & II resource definition drilling campaigns. 91% of the total gold ounces are categorized within the higher confidence M&I categories, with just 9% in the inferred category.

CEO Collin Kettell said: "The results mark a major milestone at Atlanta , confirming a high-grade and high-confidence oxide gold system in one of the most sought-after jurisdictions in the world. We are pleased to exceed the 1Moz Au threshold in the M&I category while maintaining the grade of oxide mineralization well above 1 g/t. Today's results highlight the success of our Phase I and II drill programs and validate our technical team's geological model and drilling since 2021. With this MRE under our belt, we will continue our quest to unlock the full potential of the Atlanta district. Our fully funded, aggressive Phase III exploration drill program is aimed at demonstrating Atlanta's multi-million-ounce potential."

Cal Herron, Exploration Manager of Nevada King, added: " Atlanta is a unique system with multiple instances of high-grade gold deposition. These high-grade zones, which play prominently into today's resource estimate, were a key target of our Phase II drill program.

"When we began our work at Atlanta, the resource totaled 460,000 M &I ounces averaging 1.30 g/t. Today's resource update more than doubles that figure and includes significantly more high-grade material, which is largely the result of thicker, higher-grade intercepts within the West Atlanta Graben Zone. We see clear potential for expansion of this zone to the south, north and west with the possibility of finding additional elevated high-grade zones.

"The company's unwavering support behind its technical team coupled with its commitment to seeing the exploration program completed made it possible to boost a modest deposit into a high-grade, +1 Moz deposit -- a rare achievement for open pit oxide deposits in safe jurisdictions. That same tenacity is still at play today, pushing our Phase III exploration forward throughout the Atlanta District in search of new deposits."

NKG eased $0.01 to $0.205 yesterday in Canada, leaving it near a 52 week low level of $0.20.