K2 drills 39.62m of 5.35 g/t Au at Mojave Project

K2 Drills High-Grade Gold at Mojave Project: DF26-020 39.62m of 5.35 g/t Au; DF26-019 10.67m of 7.75 g/t Au; DF26-018 18.29m of 3.77 g/t Au

VANCOUVER, British Columbia, Aug. 18, 2026 (GLOBE NEWSWIRE) -- K2 Gold Corporation (“K2” or the “Company”) (TSX-V: KTO; OTCQX: KTGDF; FRANKFURT: 23K) today announced the results of the first three drill holes completed at the Mojave Project, as part of a fully permitted and fully funded 14,000 metre campaign representing the largest drill program ever undertaken on the project. Results from drilling at the first pad at the Dragonfly Zone confirm the presence of a high-grade oxide gold system in a 40m step out hole north from K2’s 2020 discovery intercepts.

Highlights

Results from all three holes reported herein are from site DF-A, a 40-metre step north from K2’s 2020 highlight hole in the Dragonfly Zone, DF20-002: 45.72m of 6.68 g/t Au (see K2 release of November 30, 2020 ); DF26-020: 39.62m of 5.35 g/t Au from 51.82m down hole, including 25.91 m of 7.14 g/t Au

DF26-019: 10.67m of 7.75 g/t Au from 16.76m down hole

DF26-018: 18.29m of 3.77 g/t Au from 27.43m down hole, including 7.62m of 7.48 g/t Au

All three holes collared in a previously unknown gold zone with grades up to 0.96 g/t Au

15 holes completed to date for 2,630m of a fully permitted and fully funded 14,000m campaign. Results from 12 additional K2 drill holes are pending.

All holes drilled to date have intersected a well-mineralized system of sub-parallel, steeply west-dipping structures hosting oxide gold.

Mineralization at Dragonfly has been confirmed over 400m of drilled strike length and remains open along strike and at depth. In addition to the main zone several parallel structures have been identified by rock sampling.

The Dragonfly Zone is located 1.5km south of the undrilled Gold Valley target (rock samples to 375 g/t Au) midway along the >6.5km long Eastside Gold Trend, a broad mineralized trend which has been identified by K2 sampling and lim