VANCOUVER, BC, June 11, 2024 /CNW/ - Nevada King Gold Corp. (TSXV: NKG) (OTCQX: NKGFF) ("Nevada King" or the "Company") is pleased to announce that, further to its news release dated February 12, 2024, the Company has entered into an arrangement agreement for a strategic reorganization of its business pursuant to which all of the Company's concessions and properties with the exception of the Atlanta Gold Mine Project ("Atlanta") will be spun out to Nevada King shareholders (the "Spin-Out") through a subsidiary of the Company ("SpinCo"). In connection with the Spin-Out, Nevada King will also grant to SpinCo a 3.0% net smelter return ("NSR") royalty on all gold and silver production from Atlanta including the Atlanta resource area and non-core claims surrounding the Atlanta Gold Mine Project.
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