Nevada King Gold Corp V.NKG

Alternate Symbol(s): NKGFF

Metals & Mining Industrial Metals & Minerals

Nevada King Gold Corp. is a mineral exploration company engaged in the acquisition, exploration and evaluation of resource properties in Nevada, United States. The Company’s Atlanta project includes the Atlanta Gold Mine, which is located in the northern portion of Lincoln County, Nevada and is approximately 264 kilometers northeast of Las Vegas, Nevada, and is part of the prolific gold producing Battle Mountain Trend. The project consists of 12 patented and 1560 unpatented mineral lode claims, totaling approximately 12,700 hectares (ha), held 100% by Desert Hawk. The Atlanta project is well situated with regard to physical infrastructure. Prior to mining operations at the site, they established an open pit mine, a tailings dam, a mill and processing area, and a surface impoundment area. It also holds an option to purchase a 100% undivided interest in the property known as the Silver Park property. Silver Park is located within the Atlanta Project boundary, and totals about 24 ha.

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Nevada King Gold Corp

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Post by Betteryear2on Feb 12, 2024 4:24pm

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Post# 35876284

NEVADA KING SPIN-OUT OF NON-ATLANTA CLAIMS PORTFOLO

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, Feb. 12, 2024 /CNW/ - Nevada King Gold Corp. (TSXV: NKG) ("Nevada King" or the "Company") is pleased to announce that the Company's Board of Directors has unanimously approved plans for a strategic reorganization of its business pursuant to which all of the Company's concessions and properties with the exception of the Atlanta Gold Mine Project ("Atlanta") will be spun out to Nevada King shareholders (the "Spin-Out") through a newly incorporated company ("SpinCo"). In connection with the Spin-Out, Nevada King proposes to also grant to SpinCo a 3.0% royalty on all production from certain portions of Atlanta including the Atlanta resource area and non-core claims surrounding the Atlanta Gold Mine Project.

NEVADA KING ANNOUNCES SPIN-OUT OF NON-ATLANTA CLAIMS PORTFOLIO AND FULLY ALLOCATED $9.75-MILLION NON-BROKERED PRIVATE PLACEMENT (newswire.ca)