Cashu Research Initiates Coverage on K2 Gold Corporation (KTO)

Vancouver, British Columbia--(Newsfile Corp. - September 16, 2026) - Cashu Research today initiated coverage on K2 Gold Corporation (TSXV: KTO) (OTCQX: KTGDF), focused on the company's 100%-owned Mojave Project in Inyo County, California.

The report incorporates K2 Gold's August 18 and September 9, 2026 Dragonfly drill results from the company's largest drill program at Mojave to date. As of September 9, K2 had completed 23 holes for 4,182 metres of a fully permitted and funded 14,000-metre campaign, with results from 16 additional holes pending and drilling underway at the Newmont Zone.

High-grade oxide gold from two pads K2 reported 39.62 metres at 5.35 g/t gold in hole DF26-020, including 25.91 metres at 7.14 g/t gold, from a completely oxidised interval beginning at 51.82 metres downhole. The company also reported 10.67 metres at 7.75 g/t gold from 16.76 metres in DF26-019 and 18.29 metres at 3.77 g/t gold in DF26-018. Those first three holes were drilled from site DF-A, approximately 40 metres north of K2's 2020 discovery hole, into previously untested ground.

On September 9, K2 reported four additional holes from site DF-F, approximately 40 metres west of the 2020 discovery hole. DF26-023 returned 27.43 metres at 4.08 g/t gold, including 15.24 metres at 5.30 g/t; DF26-021 returned 32.01 metres at 2.02 g/t; DF26-022 returned 33.53 metres at 1.63 g/t; and DF26-024 returned 3.05 metres at 17.55 g/t followed by 28.95 metres at 2.03 g/t. All seven reported 2026 Dragonfly holes have intersected high-grade oxide gold. Reported widths are drilled widths; K2 has stated that true widths are not yet known.

Why Mojave stands out Cashu Research's report focuses on three features of the current program: Oxide mineralisation near surface. The Dragonfly intercepts are oxidised and begin close to surface. K2 has not yet published metallurgical testwork. A major exploration permit is in place. The U.S. Bureau of Land Management issued a Record of Decision in early 2026 authorising drilling from up to 22 sites. The program is funded. K2 reported more than C$27 million in cash as at August 18, 2026, no warrants outstanding and a C$9.8 million 2026 budget. K2's current program contemplates approximately 14,000 metres of drilling across Mojave. The Eastside Gold Trend extends for more than 6.5 kilometres and includes Dragonfly, the undrilled Gold Valley target and the Newmont Zone.

What comes next for K2 Gold The report identifies upcoming drill results as the principal near-term catalyst. As of September 9, eight Dragonfly holes from pads DF-G, DF-M and DF-A were pending assay, while eight holes had been completed at the Newmont Zone with assays pending. Cashu Research is watching: additional assays from eight Dragonfly holes; results from eight holes drilled at the Newmont Zone; continuity of grade and mineralised widths away from the discovery area; further Dragonfly drilling; and future metallurgical work. The Newmont Zone was previously tested by Newmont Exploration and BHP Minerals. Historical drilling includes hole NM20-011, which returned 1.64 g/t gold over 41.15 metres. The broader Mojave thesis remains early-stage. The project currently has no mineral resource or reserve, true widths remain unknown and metallurgy has not yet been established. Permitting a future mine in California would also require a separate and substantially more extensive process than the current exploration approvals.