Kingman Minerals Completes Phase III Drilling at Mohave, Defines Broad Hydrothermal Alteration

Kingman Minerals Ltd. (TSXV: KGS) (OTCQB: KGSSF) (FSE: 47A1) has completed drilling and received final assay results from the eight-hole Phase III core drilling program at its flagship Mohave Project in Mohave County, Arizona. The program did not demonstrate economic-grade continuity at the depths tested, but generated significant new geological, structural and assay information that is now being integrated with historical drilling, underground sampling and recent drone magnetic data to refine the Company's understanding of the broader Rosebud hydrothermal system and future drill targeting.

The Phase III program was completed in the Rosebud Mine area and surrounding Southwick vein corridor. Eight holes were drilled from four drill pads, with two holes drilled from each pad at different dips. Previous drilling near the Rosebud Mine in Phases I and II, together with underground sampling by Burgex Mining Consultants, identified high-grade gold mineralization in portions of the Southwick vein system near the historic workings. Those higher-grade intercepts were narrow.

New information generated by the drone magnetometer survey and interpreted by Fathom Geophysics identified a major northeast-southwest fault, referred to by the Company as the Rosebud South fault, which transects the area south of the Rosebud Mine. The Phase III drilling intersected vein-related alteration and structural zones interpreted to be associated with the Southwick system, both in expected positions and in several previously unanticipated positions. The alteration and structural continuity observed across multiple drill holes support the interpretation of a broader hydrothermal system than is reflected by the historic workings alone. However, the Phase III drilling has not yet demonstrated continuity of economic-grade mineralization within the tested depths.

Mineralization remained present in the southeasternmost step-out holes, including MH-15 and MH-16, supporting the interpretation of continuity within the broader hydrothermal system beyond the immediate Rosebud Mine area. The Company interprets this as a positive geological result, while recognizing that the mineralization encountered to date is narrow, discontinuous and not economic at the tested depths.

The Mohave property continues to hold exploration potential in deeper portions of the two principal Southwick veins, parallel veins and vein splays identified in the broader Rosebud corridor, structural intersections, dilation zones and fault-related offsets associated with gold deposition, and intrusive-related targets on the west portion of the claim package indicated by the drone magnetic survey. A deeper follow-up test, potentially in the 600-800 ft range, may be warranted on the MH-14/MH-15 trend, subject to further integration of assay results, drill logs, vein textures, alteration observations, magnetic data and the interpreted position of the Rosebud South fault. The Company has received approval from the Bureau of Land Management for an additional 16 drill holes designed to test these and related targets, as previously announced by Kingman on May 19, 2026.

Earlier in the year, Kingman received approval from the Arizona Department of Water Resources of its Notice of Intention authorizing drilling of seven exploration holes for Phase III. Following approval, the Company directed Altar Drilling Inc. to mobilize to site, with drilling beginning on or about February 25, 2026. Phase III was designed to test the continuity of the Southwick gold-silver vein corridor beyond the Rosebud Mine, supported by the Company's recently completed 3D Magnetic Vector Inversion (MVI) model and structural interpretation across the Mohave Project.

Kingman Minerals Ltd. is a publicly traded exploration and development company focused on precious metals in North America. The Company's flagship project comprises 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 1880s and were mined mainly in the late 1920s and 1930s. Underground development on the Rosebud property included a 400-foot main shaft and approximately 2,500 feet of drifts, raises and crosscuts.