Kingman Completes Acquisition of Mohave Gold Project & Appoints Raul Sanabria P.Geo as VP Exploration

FOR IMMEDIATE RELEASE

KINGMAN COMPLETES ACQUISITION OF MOHAVE GOLD PROJECT & APPOINTS RAUL SANABRIA P.GEO AS VP EXPLORATION

Vancouver, British Columbia –October 9, 2024 – Kingman Minerals Ltd. (TSXV: KGS) (OTCQB: KGSSF) (Frankfurt: 47A1) (“Kingman” or the “Company”) is pleased to announce the appointment of Raul Sanabria as Vice President, Exploration.

Mr. Sanabria is a seasoned exploration geologist with over 20 years of expertise in exploration, mining, project development, and deposit evaluation. He has held senior executive positions at corporate and operational levels in numerous publicly listed companies in Canada, leading large multidisciplinary teams across Canada, Central and South America, and Africa.

Raul has played a critical role in discovering and advancing multiple mineral districts globally. His work spans a wide range of strategic and metallic mineral deposits, including Au-Mo-(Cu) porphyries in the Canadian Cordillera, epithermal gold-silver systems, primary silver deposits, and iron formation-hosted gold, amongst others. Several of these discoveries are currently progressing towards feasibility or production.

"We are thrilled to welcome Raul to the Company. His extensive experience in mineral exploration, from discovery through to development, will be instrumental as we advance our exploration efforts on the Mohave Project in Arizona. Raul’s expertise in gold vein systems and executive leadership are a strong fit with our mission to focus on high-potential precious metals projects in North America.” said Simon David Studer, Director of Kingman Minerals Ltd.

During his career, Raul has also published numerous technical papers and contributed to international books on mineralogy and mineral deposits. He holds a master’s degree with honors in Geology (Mineral Deposits) from the Universidad Complutense de Madrid and is a Qualified Person (NI 43-101), P.Geo., and EurGeol.

"I am honored to join Kingman at this exciting stage of its growth. The Company’s dedication to aggressively advancing its Mohave Project, including its past-producing gold mine, is a reflection of its strong vision to unlock the full potential of the project. Based on the results and initial understanding from past drilling, our plan is to focus on drilling and sampling along strike and depth extensions, particularly targeting the wide coalescing 48–56-inch zones below 325 feet, as well as the other six veins. This approach aims to efficiently build on existing knowledge and accumulate highergrade ounces more quickly and cost-effectively outside the previously mined areas. I look forward to working with the team to unlock the full potential of Kingman’s assets and contribute to its ongoing success,” said Raul Sanabria.

MOHAVE PROJECT & CORPORATE HIGHLIGHTS

• Strategic Acquisition: On January 11, 2024, Kingman Minerals Ltd. acquired full control of the 71 Rosebud Mining Claims, including the historic Rosebud Mine, through an Option Agreement with Seguro Projects Inc. This marks a major milestone in the company’s Mohave Project in Arizona.
• Tier 1, Mining-Friendly Jurisdiction: The acquisition of a precious metal asset with significant development potential in a mineral-rich, world-class mining jurisdiction in Mohave County, Arizona, known for its high-grade gold and silver deposits.
• Rich History and Potential: The Rosebud Mine and adjacent areas have been a site of rich gold and silver discoveries since the 1880s. With substantial underground development, it offers significant potential for future exploration and development.
• Market Advantage: With gold prices reaching historic highs, the Mohave Project, featuring a past-producing mine, is well-positioned to capitalize on market demand, enhancing its exploration capabilities while maintaining fiscal prudence and an optimized share structure.

Map 1: KGS Drill and Mine Workings Map with Locations, Gold and Silver Intercepts, and Drilling Plans.

EXPLORATION HIGHLIGHTS

Kingman Minerals Ltd. has conducted two consecutive underground reconnaissance programs and two phases of drilling at the Rosebud Mine, both confirming high-grade gold and silver intercepts at depth. Underground sampling from mineralized veins returned exceptional results, including 688 g/t Au and 468 g/t Ag over 0.18 m, and 252 g/t Au and 341 g/t Ag over 0.46 m.

Phase I Drilling:

The Phase I program drilled five holes over 2,552.5 feet (778 meters), targeting historically reported gold and silver resources reported by former operators. The MH-series drill intercepts confirmed highgrade material left by previous miners, with the highest. result from MH-03, which intersected 13.63 g/t Au and 8.4 g/t Ag over 7 feet at 338 feet depth. This intercept, found in hanging wall material, highlights the need for additional drilling along strike extensions and below 325 feet.

Phase II Drilling:

The second phase extended beyond the known Rosebud Mine, drilling to depths of 1,185 feet (361.2m), targeting porphyry-style mineralization in one of the holes. Although only partially completed, Hole H-06 returned significant results including 1.44 g/t Au and 30.3 g/t Ag over 2.29 meters. All intercepts noted above and those in the table below are not true width.

The next drilling phase will focus on targeting bonanza-grade zones along strike and depth extensions, outside the existing workings.

Table 1: Summary of drill intercepts from the Rosebud Mine area of the Mohave Project

TECHNICAL INFORMATION

The technical information in this website has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by, Qualified Person: Bradley C. Peek, MSc. CPG Qualified Person for Kingman Minerals Ltd.

ABOUT

Kingman Minerals Ltd. (TSX-V: KGS) is a publicly traded exploration and development company focused on precious metals in North America. The company’s flagship project is the fully owned historic Rosebud Mine, located in the Music Mountains, Mohave County, Arizona. High-grade gold and silver veins were discovered in the area in the 1880's and were mined mainly in the late 20's and 30's. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts. The Company believes that to explore the full potential of the area, drilling and sampling along strike and depth extensions of existing and additional vein structures is essential.

For further information please contact:

Peter Born, Interim CEO & Director (604) 685-7720 [email protected]

www.kingmanminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncer- tainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ mate- rially from those expressed or implied by such forward-looking information. Forward-looking information in this news re- lease includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Kingman believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Kingman disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.