¢-
GOLD
TSX-V: KTO
Suite 1020 — 800 West Pender Street, Vancouver, BC V6C 2V6
NEWS RELEASE
K2 Generates High-Grade Silver, Gold, and Copper Results from Rock Samples at Morningstar Target
2,737 g/t Ag, 4.37 g/t Au, 2.42% Cu: C0105155; 1,420 g/t Ag, 7.44 g/t Au, 1.34% Cu: C0105158; 618 g/t Ag and 23.2% Cu: C0105366
Vancouver, B.C. — August 26, 2026 — K2 Gold Corporation (TSX-V: KTO | OTCQX: KTGDF | FSE: 23K) (“K2 Gold” or the “Company”) today announced results from 613 rock samples from the Morningstar Target collected as part of the Company’s ongoing 2026 surface exploration program at its projects in Inyo County, California. Morningstar is located approximately 7 kilometres from the Eastside Gold Trend at the Mojave Project, where K2 is currently conducting its 2026 drill program and recently reported high-grade gold intercepts here.
The 2026 surface exploration program was designed to build upon K2’s previous exploration and historical work within the 2,000-metre by 800-metre Morningstar mineralized corridor through systematic sampling of high-priority targets. Results from the program have identified and confirmed widespread polymetallic mineralization, including discrete trends of high-grade silver, gold and copper values from grab and chip samples.
The new surface results further demonstrate the broader exploration potential of the region and highlight Morningstar as an important target area within the Company’s growing pipeline of prospective mineralized zones.
Highlights:
e New results are from samples collected within the northwest—-southeast-trending mineralized Morningstar corridor, and encompass the H Zone, B Zone, Ignacio, and newly-identified R- Zone targets.
e Morningstar hosts multiple styles of mineralization, including skarn and carbonate-replacement mineralization, polymetallic Au-Ag-Pb-Zn-Cu veins and intrusion-hosted gold mineralization.
e 232 samples collected generated assay results greater than 0.10 g/t Au, 96 samples > 10 g/t Ag, and 66 > 0.2% Cu
e Highlights from the sample set disclosed in this release include:
- Ignacio Target — 2,737 g/t Ag, 4.37 g/t Au, 2.42% Cu from Sample C0105155, and 1,420 g/t Ag, 7.44 g/t Au, 1.34% Cu from Sample C0105158
- H-Zone Target — 38 g/t Ag, 5.84 g/t Au, and 1.32% Cu from Sample 606439
- B-Zone Target — 74 g/t Ag, 4.93 g/t Au, and 0.62% Cu from Sample 606453
- R Target — 618 g/t Ag and 23.2% Cu from Sample C0105366
- These new samples follow up and expand upon K2’s 2024 rock sampling (see K2 Gold news release Nov. 20, 2024) which returned highlight samples including:
= 2,260 g/t Ag, 13.30 g/t Au, 3.85% Cu = 2,380 g/t Ag, 8.13 g/t Au & 3.02% Cu " 1,405 g/t Ag, 2.13 g/t Au & 3.53% Cu « 1,480 g/t Ag, 1.60 g/t Au & 3.06% Cu « 1,420 g/t Ag, 11.05 g/t Au & 4.59% Cu
e Historical drilling by previous operators within the corridor returned high grade gold intersections including 9.19 g/t Au over 18.29m (H Zone’). Previous exploration focused primarily on gold, leaving the trend’s silver and base metal potential largely untested.
“The Morningstar area is an exciting component of the broader exploration story at our Mojave Project in California. Its proximity to the historic Cerro Gordo Mine, combined with the scale of the mineralized corridor, high-grade gold, silver and copper values, and multiple styles of mineralization associated with a well-defined structural and intrusive setting, make Morningstar a particularly compelling target area. These results provide K2 with an opportunity to rapidly advance a series of prospective polymetallic drill targets alongside our ongoing exploration of the broader Mojave system,” stated Anthony Margarit, President and CEO of K2 Gold.
2026 Surface Sampling Program
During June and July 2026, K2 collected 613 rock samples across the Morningstar target. The program focused on the H Zone, B Zone, and Ignacio targets in the core of the trend, while also exploring ground previously untested by K2 in the Morningstar Mine area, which resulted in the identification of previously unknown historical workings and mineralization. The program was designed to:
e Evaluate extensions to historical mineralization;
e Test prospective structural intersections;
e Investigate the relationship between skarn/replacement mineralization and high-grade gold-bearing structures; and
e Refine targets for drill testing.
The sampling program returned values from trace to 9.16 g/t Au, trace to 2,738 g/t Ag, trace to 5.35% Cu.
Table 1: Selected 2026 surface sampling results.
Sample ID| Target yee" Au (git) | Ag (git) | Cu(%) | Pb (%) | Zn(%)
606439 H-ZONE Grab 5.84 38 1.32 0.01 0.02
606453 B-ZONE Grab 4.93 74 0.03 0.62 0.25
C0105132 B-ZONE Grab 0.04 150 0.12 16.8 >1.00
C0105155 IGNACIO Grab 4.37 2,137 2.42 5.98 0.25
C0105158 IGNACIO Grab 7.44 1,420 1.34 0.59 0.57
C0105366 R-ZONE Grab 0.05 618 23.2 0.07 0.13
*Grab samples are selective by nature and are not necessarily representative of the grade or extent of mineralization on the property.
rae
_ Morningstar, ts
rae
EB Soda Ridge
= t | a a
Gold)valley,
4040000
MOJAVE REGION
_| Geochemical Trend Gold
| Copper Silver-Lead-Zine
4038000
Rock Cu (%)
< 0.005%
0.005 - 0.02%
0.02 - 0.05%
0.05 - 0.2%
0.2-1%
>1%
[) Property Boundaries
Beeoees
Copper in Rocks -
Regional
August 26, 2026 NAD83 UTM Zone 11N
4034000
1 y
422000 424000 426000 428000 430000 432000 434000
Figure 1: Mineralization trends in the Mojave region — Morningstar Target at top centre.
Legend
Rock Au (ppm) <0.1 0.1-0.5 0.5-1 1-5 5-10 >10 (__) New Rock Assay | §22% Ignacio Intrusive 8 | (1) Property Boundaries } (__] k2Patented Claims
T 4044000
Cerro Tie 0 |. Vi = ogy.
4.37 git Au Siinset
Sunset — 2,737 git Ag 2.42% Cu
4.93 git Au 74 git Ag
J\Heegoae
Ignacio. 7.44 git Au
1,420 g/t Ag 1.34% Cu
i 4043500
2.11 g/t Au 427 git Ag
1}, Wheel aovesabeal Adit
1.32% Cu
Morningstar
€¢. Gold in Rocks
August 26, 2026
4057500
NAD83 UTM Zone 11N Morningstar.
GO LD 0 125 250 500 ne
Meters
y | q
427000 427500 428000 428500
Figure 2: Morningstar Target, gold in rocks, samples from this release indicated.
Legend
Rock Ag (ppm) s <05 7 B@ 05-2 O 2-5 @ 5-20 @ 20-100 @ >100
4044000
2,737 git Ag 4.37 git Au
2.42% Cu
Ma . : ¢ 150 git Ag 4 16.8% Pb . z lgnacio 1,420 git Ag | ~ Ez ake ny , 7.44 git Au 7 | 1.34% Cu
Sunset | |
New Rock Assay £223 Ignacio intrusive [-] Property Boundaries
(J k2 Patented Claims
74 git Ag 4.93 git Au
!
4043500
pr es
| 618 git ag 1 23.2% Cu |
4 ee
38 git Ag 5.84 git Au 1.32% Cu
Morningstar ¢- Silver in Rocks August 26, 2026 NAD83 UTM Zone 11N GO LD 0 125-250 500 rs
Meters
4042500
1 } I
427000 427500 428000
Figure 1: Morningstar Target, silver in rocks, samples from this release indicated.
Historical Drilling Demonstrates Significant Gold Mineralization
Approximately 15,000m of drilling has been completed across the Morningstar property by previous operators. Historical drilling identified significant gold mineralization across the H Zone, B Zone and Ignacio areas.
Selected historical drill intersections include:
Table 2: Selected historical drill results from the Morningstar property by previous operators.
Zone Drill Hole From (m) To (m) Width* (m) Au (g/t)
B Zone B-2 45.72 80.77 35.05 3.72
B Zone B87-3 73.15 74.68 1.53 80.22
B Zone CGO9DH-1 74.68 103.63 28.95 4.77
Ignacio CG-305 42.67 86.87 44.20 1.59
Incl. 74.68 86.87 12.19 4.99
H Zone CG-319 9.14 33.53 24.39 2.84
H Zone CG-321 62.48 112.78 50.30 1.38
Incl. 77.72 83.82 6.10 7.42
H Zone CG-326 27.43 45.72 18.29 9.19
H Zone H-11 4.57 10.67 6.10 10.58
H Zone PD93-3 4.57 16.76 12.19 3.11
H Zone H87-4 7.62 27.43 19.81 1.84