MOJAVE PROPERTY

Location	Inyo County, California
Land Package	More than 12 exploration targets with only 2 drilled by previous ownership, over a 5,830 hectares.
Minerlization consists of	Sediment-hosted oxide gold, that is structurally controlled silver – base metal +/- gold. Potential for Cu-Au Porphyry mineralization on western side of project.

The Mojave property is underlain by a Paleozoic, carbonate-dominated stratigraphic sequence of siltstone, shale, limestone, and conglomeratic units that have been subjected to multiple deformational events. The units are commonly folded and thrusted and are cut by late, steeply dipping, normal to strike-slip faults. Jurassic intrusive plug, dikes, and sills also locally disrupted the units.

Gold mineralization was first discovered at Soda Ridge on the Northwest corner of the Mojave Property by Mobil in 1984. Prior to K2’s recently completed work at least eight other gold rich areas on the property had been recorded and partially investigated by exploration and mining companies, most notably Newmont and BHP. To date 145 drill holes have been completed by three companies: Newmont in 1985 (22 RC holes), Asamera in 1986 (113 RC and diamond drill holes), and BHP in 1997 (10 RC holes) on three of the nine gold targets. Other companies that have explored on the Mojave property include Great Bear Resources and SSR Mining but the recent work by K2 is the most extensive and comprehensive since 1997. There are now 12 gold and base metal exploration targets on the Mojave property.

The historical drill programs focused on three different target areas on the property, Newmont, Empire Zone and Dragonfly. Highlights of historical drill results include 1.05 g/t over 99.06m, 2.1 g/t Au over 16.8m, and 1.54 g/t Au over 24.4m.

Since acquiring the property, the Company has completed geochemical and geophysical surveys, geologic mapping LiDAR, a World-View 3 alteration survey, and completed a 17 hole – 2540m RC drilling program focused on the Dragonfly and Newmont Zones.

Recent Drill Results

April 2, 2021 - K2 Announces Two New Gold Targets at Mojave and Launches 2021 Exploration Program

March 23, 2021 - K2 Achieves Significant Permitting Milestone for Mojave Project

Exploration History of the Mojave Property

DF20-002: 6.68 g/t Au over 45.72m from surface
DF20-004: 7.18 g/t Au over 30.48m from surface
NM20-011: 1.69 g/t Au over 41.15 from 44.20m depth
NM20-016: 1.00 g/t Au over 22.86m from 42.67m depth

Highlights of K2 Gold’s drilling results from Dragonfly and Newmont

Target	Site ID	Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)
Dragonfly	DF-1	DF20-001	0.00	18.29	18.29	3.10
And	42.67	51.82	9.14	0.70	0.70	0.70
And	102.11	108.20	6.10	1.11	1.11	1.11
Envelope of Alt.	0.00	51.82	51.82	1.23	1.23	1.23
DF20-002	0.00	45.72	45.72	6.68	6.68	6.68
Including	9.14	33.53	24.38	10.93	10.93	10.93
And	67.06	86.87	19.81	2.18	2.18	2.18
And	161.54	164.59	3.05	1.02	1.02	1.02
Envelope of Alt.	0.00	86.87	86.87	4.02	4.02	4.02
DF20-003	3.05	21.34	18.29	3.21	3.21	3.21
And	53.34	65.53	12.19	2.29	2.29	2.29
And	109.73	120.40	10.67	0.86	0.86	0.86
And	134.11	146.30	12.19	1.24	1.24	1.24
Envelope of Alt.	3.05	65.53	62.48	1.40	1.40	1.40
DF20-004	0	30.48	30.48	7.18	7.18	7.18
Including	7.62	22.86	15.24	11.12	11.12	11.12
And	59.44	76.20	16.72	1.86	1.86	1.86
And	108.20	117.35	9.12	1.23	1.23	1.23
Envelope of Alt.	0.00	76.20	76.20	3.27	3.27	3.27
DF-2	DF20-005	13.72	22.86	9.12	0.65	0.65
DF20-006	1.52	25.91	24.32	0.21	0.21	0.21
And	71.63	82.3	10.64	0.58	0.58	0.58
DF20-007	21.34	35.05	13.72	0.49	0.49	0.49
DF20-008	NSV	NSV	NSV	NSV	NSV	NSV
Newmont	NM-1	NM20-009	53.34	73.15	19.81	0.66
Including	68.58	73.15	4.57	1.99	1.99	1.99
NM20-010	65.53	89.92	24.38	0.64	0.64	0.64
NM20-011	44.20	85.34	41.15	1.64	1.64	1.64
Including	48.77	65.53	16.76	2.03	2.03	2.03
And	71.63	82.30	10.67	2.36	2.36	2.36
NM20-012	54.86	82.30	27.43	0.56	0.56	0.56
NM20-013	53.34	56.39	3.05	1.38	1.38	1.38
NM-2	NM20-014	35.05	41.15	6.10	1.58	1.58
And	79.25	86.87	7.62	2.35	2.35	2.35
NM20-015	39.62	60.96	21.34	0.68	0.68	0.68
Including	42.67	51.82	9.14	1.43	1.43	1.43
NM20-016	42.67	65.53	22.86	1.00	1.00	1.00
Including	44.20	54.86	10.67	2.01	2.01	2.01
NM20-017	42.67	62.48	19.81	0.82	0.82	0.82
Including	51.82	59.44	7.62	1.87	1.87	1.87

Highlights of historical drilling results from Newmont, East Zone and Dragonfly

Target	Hole ID	From (m)	To (m)	Int (m)	Au (g/t)
Newmont	CGL-1	8.23	11.28	1.52	8.23
CGL-3	38.40	55.17	16.76	2.08	2.08
CGL-12	208.79	225.55	16.76	1.09	1.09
CGL-19	74.68	99.06	24.38	0.91	0.91
Incl.	74.68	80.78	6.10	3.07	3.07
CM97-9	120.40	135.64	15.24	1.00	1.00
East	CGL-8	51.816	56.388	4.572	1.82
Dragonfly	CM97-3	47.24	53.34	6.10	2.00
And	163.07	172.20	9.13	1.17	1.17
CM97-4	0.00	24.38	24.38	1.54	1.54
Incl.	16.76	22.86	4.95	6.10	6.10
And	42.67	54.86	12.19	3.84	3.84
And	88.59	97.54	9.14	1.55	1.55
CM97-5	146.30	158.50	12.20	1.48	1.48

Chronology of the Mojave Project

Early 1900s

Vein base metal mining in the Stega/Keeler area

1940 - 1960s

Keeler Gold mine (intermittent operation) Total production unreported <0.5 Moz

1980s

Simultaneous exploration on east * west flanks (property consolidated in the 90's)

- West - discoverd by Mobil (1984) and worked on by Asamera (drill -113 short holes)
- East - Newmont (Newmont drills 25 holes in Newmont zone)
- Historical resource (non-compliant) 174,000 oz @ 2.01 g/t Au; Newmont Zone (based on 8 holes)
1994

Senator Feinstein removed Mojave from the Wilderness Study Area because of its apparent mineral potential

1996-1998

BHP drilled 10 holes - Dragonfly. Internal report very positive

1998 - 2004

Property in litigation, Vendor prevails

2008 - 2009

Timberline compilation work, no drilling

2011

Sungro Minerals - Compiled previous work and authoured Technical Report, not publ. No Exploration

2013 - 2015

Great Bear Resources - Trenching and Sampling 43m@4 g/t Dragonfly. Undrilled

2015 - 2018

SSR - Limited rock sampling and airborne Geophysics

2019

K2 Gold Aquires Property