K2 Gold Corporation announced the commencement of a soil sampling program at the Wels Project, located in west-central Yukon Territory 60km south of Newmont's Coffee gold deposit. In addition, drill core from the Company's 2023 diamond drilling program at the Si2 Project, located 60km west of Tonopah, Nevada, will undergo hyperspectral analysis. Both projects are fully funded.

Highlights: Wels Project: Soil sampling program has been designed to collect data over the previously unexplored western portion of the Wels property. Data and information acquired from this program will be used to evaluate possible extensions to the Saddle and Pekoe target areas which were successfully drilled by K2 in 2023. Si2 Project: Select intervals of drill core from the 2023 program at the Si2 Project will undergo hyperspectral analysis to determine clay species and aid in vectoring towards stronger mineralization.

Mojave Project: Permitting via the Environmental Impact Statement (EIS) process for a Phase II drill program at Mojave continues to progress favourably with an updated expected completion of fourth quarter of 2024. Exploration Program Details Wels: Up to 1,130 sites will be sampled during the 2024 Wels soil sampling program. Samples will focus on a prominent ridgeline extending northwest from the Saddle and Pekoe target areas.

The grid extends to the northwest along high-priority lineaments identified from analysis of LiDAR and geophysical data. Structures hosting mineralization at the Saddle and Pekoe targets are inferred to continue to the northwest trending onto unexplored ground. Areas of interest on the southern half of the property will also be sampled based on compelling geophysical, and structural characteristics.

Si2: Diamond drill core from K2's 2023 program will be scanned using non-destructive hyperspectral imaging. This is an emerging technique in mineral exploration, which will produce an extensive dataset with invaluable down-hole mineralogical information. The results of the analysis will be used to determine the approximate temperatures and/or depths of the various alteration mineral assemblages observed and identified, which may aid in vectoring towards stronger mineralization.