$NKG.V

Nevada King Gold Approves 5:1 Share Consolidation

Nevada King Gold (NKG.V) after trade Monday said its board approved a share consolidation on the basis of one new share for every five existing shares.The new share structure is expected to take effect on May 7. The company will keep the same name, Nevada King Gold Corp., and continue trading under the ticker symbol NKG, it said."Following our recent C$16.3 million financing and the doubling of our Phase 4 drill program to 40,000 metres, this move ensures that our capital structure is as robust as our exploration pipeline, improving our ability to create long-term shareholder value," Chief Executive John Sclodnick said.The company said, currently, it has about 501.8-million shares outstanding. After the consolidation, this will be reduced to nearly 100.4-million shares, subject to rounding adjustments.

Nevada King Gold Corp. To Effect Consolidation of All Issued and Outstanding Common Shares On Basis of 1 New Common Share For Every 5 Currently Held

Nevada King Gold Doubles Phase 4 Drill Program at Atlanta Gold Project to 40,000 Meters

Nevada King Gold (NKG.V) is expanding its phase-four drill program on the Atlanta gold project in Nevada to 40,000 meters from 20,000 meters, the company said Tuesday.The expanded drill program will test both the main mineralized zone at Silver Park East and the 350 m step out to the south to potentially advance to a resource stage. Recent assays from Silver Park East include 0.30 grams per tonne (g/t) gold over 39.6 m and 0.14 g/t gold over 158.5 m.It will also allow the company to fully assess the mineralized potential of Western Rim, vector toward higher grade areas at Atlanta South, and look to fill in the gap at Atlanta North.Meanwhile, Nevada King has secured the approval from the Bureau of Land Management for the Western Rim notice of intent, which allows for immediate drilling from 33 sites where the company recently sampled 20.8 g/t gold at surface, the highest ever recorded rock chip sample at Atlanta.In addition, Nevada King is advancing its fifth and most extensive modification to its plan of operations, covering 78 additional reverse circulation drill sites and 404 rotary air blast drill locations, which will allow follow up on key mineralized targets.

Nevada King Gold Corp. Doubles Phase 4 Drill Program To 40,000 Metres, Provides Assay Results From Silver Park and a Project Wide Permitting Update