Past Producing Mine & Historic Sampling Results: Highlights From 1995 Programs & 2005 Kent Exploration Chip Samples 170g/T Au On Vein 100ft Level Of Rosebud Mine Over Interval Of 0.46m

VANCOUVER, BC / ACCESSWIRE / May 12, 2020 / Kingman Minerals Ltd. (TSXV:KGS)(FSE:47A1) (“Kingman” or the “Company”) is pleased to provide shareholders with the third in a three part series reviewing the historic gold mining operations and prospects within the Mohave Project.

The Mohave Project (the “Project”) is located in the Music Mountains in Mohave County, Arizona and is comprised of 20 lode claims which are inclusive of the past producing Rosebud Mine (the “Rosebud”), eight separate veins and one prominent double vein which extend from the northwest corner to nearly the southeast corner of the claims block. High grade gold and silver veins were discovered in the area in the 1880’s and were mined mainly in the late 20’s and 30’s. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts.

In 1995, an exploration program was conducted by Kinntaki Resources in which 135 surface samples were collected. Significant gold and silver results near the Rosebud Mine are shown in the tables below. The information contained in this news release is historical in nature but was extracted from the NI 43-101 report by qualified person, Edward Harrington, P.Geo. and is believed to be accurate and unbiased based on comparison with previous and subsequent reports on the subject property.

Table 1: Rock Sampling Near the Rosebud Mine Site

Table 2: Rock Sampling Near Line 34+00 N

Tables 1 and 2 – Kinntaki Resources 1995 rock sampling results (from Harrington, Edward., 2005, Technical Report on the Rosebud Property, Mohave County, Arizona: prepared for Kent Exploration Inc., 66p.).

The Kingman Minerals qualified person has not verified the results of the 1995 surface rock sampling listed in Tables 1 and 2. Additional sampling would be required to verify the data.

Induced polarization, resistivity and magnetic geophysical surveys were conducted by D. Mark, geophysicist, P.Geo. The results indicate the presence of sulphide mineralization along strike and at depth from known areas of anomalous gold and silver. Therefore, it may be assumed that drilling in these areas might intersect mineralized shear zones at depth. Seven target areas (Z1 to Z7) have been identified, based on the combination of geochemical and geophysical data (Figure 3).

Figure 1: Compilation Map of Prospective Geophysical and Geochemical Zones (from Harrington, 2005).

While much of the field work was conducted in 1995 and could be considered as historical in nature, most of the technical information contained in this news release came directly from the NI 43-101 compliant report by Edward Harrington (2005) for Kent Exploration Inc. The Kingman Minerals qualified person has not verified the results of the geophysical work shown in Figure 1. Repeat magnetic, IP and resistivity surveys would be required to verify the data.

In 2005, Kent Exploration Inc., following the recommendations of Ed Harrington P.Geo, obtained access and completed an underground rock sampling program. Ropes and safety harnesses were used to access the 100ft level by way of the main production shaft. This was the first underground sampling verification to be conducted since L.A. Bayrock in 1983 and 1984.

Figure 2 – Cross section of Kent Exploration 2005 underground sampling of the southeast drift on the 100-foot level of the Rosebud Mine. Sample results are in Table 3.

According to Harrington, “all samples returned values anomalous in one or more of gold, silver, lead and zinc and are considered to be significant.” Selected results from his 2005 report are as follows:

Table 3 -Underground rock sampling results from 2005 exploration program conducted by Kent Exploration Inc. (from Harrington, Edward., 2005, Technical Report on the Rosebud Property, Mohave County, Arizona: prepared for Kent Exploration Inc., 66p.).

The highest chip sample from the 100ft level of the mine returned a gold value of 170.5 g/t and 217 g/t silver over 0.46m. The highest silver value achieved was 709g/t from a stock pile grab sample.

The Kingman Minerals qualified person has not verified the results of the Kent Exploration 2005 underground sampling. Access to underground workings and additional sampling would be required to verify the sample results in Table 3.

The 2005 report stated that:

• limited previous mining on the Property has defined both gold and silver mineralization associated with shearing;
• limited previous mining on the Property has defined both gold and silver mineralization associated with shearing;
• historical and contemporary surface and underground sampling has indicated potentially economic gold and silver grades;
• several zones known to host gold and silver mineralization have been identified;
• underground sampling carried out in 2005 returned significant gold and silver values, and showed that the main production shaft and underground workings on the 100-foot level are accessible and generally in good condition;
• an IP/resistivity survey has indicated that zones of mineralization may extend along strike beneath alluvial cover, and be present at depth; and
• a suite of elements commonly accompanying porphyry-style mineralization is shown by rock sampling assay results to occur on the Rosebud property.

The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc. and Certified Professional Geologist who is a Qualified Person with respect to Kingman’s Mohave Project as defined under National Instrument 43-101.

About Kingman

Kingman Minerals Ltd. is currently engaged in the business of precious metal mineral exploration for the purpose of acquiring and advancing non grass roots mineral properties located in mining friendly jurisdictions of North America.

For further information please contact:

Sandy MacDougall, Chairman & Director
(604) 685-7720
sandyjmacdougall@gmail.com
www.kingmanminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Kingman believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Kingman disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.

SOURCE: Kingman Minerals Ltd.

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