Nevada King Successfully Secures $11 Million in Fully Allocated Private Placement with New Gold Fund Shareholder

Nevada King Gold Corp. Secures $11 Million Funding

Nevada King Gold Corp. (TSXV: NKG) has made headlines with its announcement of a fully allocated non-brokered private placement offering totaling $11 million. The company's CEO, Collin Kettell, confirmed that the project will encompass the sale of 44 million common shares at a price of $0.25 each, aiming for a closing date around April 22, 2025. This strategic move not only indicates strong market confidence but also sees the participation of a prominent U.S.-based gold fund, a significant endorsement for Nevada King's future endeavors.

Participation of Influential Investors

The inclusion of this well-regarded gold fund, known for its strong reputation in the industry, showcases Nevada King's commitment to aligning with respected institutional investors. Following the planned sale of 20 million shares from Kettell’s personal holdings, the gold fund is expected to acquire roughly 5% of the company's total shares, substantially contributing to its institutional shareholder base, which will total about 10% post-transaction. This increase reflects a robust insider ownership level of nearly 40%, demonstrating management’s alignment with shareholder interests and confidence in the robust Atlanta Gold Mine Project.

In terms of usage for the funds raised, Kettell emphasized that capital will primarily be allocated to advancing the Atlanta Gold Mine Project and expansively addressing the company’s operational needs. Notably, the recent activities signal a significant momentum shift as Nevada King progresses towards optimizing its assets in Nevada.

Strategic Importance of the Atlanta Gold Mine

Nevada King's Atlanta Gold Mine, located in southeast Nevada along the Battle Mountain trend, is a key focus of the company, containing a compliant resource of approximately 460,000 ounces of gold, proven through a significant amount of historical drilling data. The project’s potential is bolstered by an inferred resource of an additional 142,000 ounces, suggesting a promising outlook for future operations. This resource estimation does not factor in the 100,000+ meters of further drilling conducted by Nevada King.

Highlighting the expected economic impact, Kettell discussed the strategic timing and market sentiment surrounding gold investments, reinforcing the rationale behind the funding initiative during an era of growing institutional interest in precious metals. The prospectus is prepared for