Vancouver, British Columbia--(Newsfile Corp. - May 27, 2026) - Kingman Minerals Ltd. (TSXV: KGS) (OTCQB: KGSSF) (FSE: 47A1) ("Kingman" or the "Company") is pleased to announce that it 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 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, as shown in Figure 1.

The Phase III program did not demonstrate economic-grade continuity at the depths tested. However, it 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.

Figure 1 - Phase III drill-hole locations. Pink lines are interpreted surface traces of the Southwick veins. Blue, red and green lines represent the three levels of the historic Rosebud Mine.

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Geological Context and Structural Interpretation

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.

Importantly, 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.

Figure 2 - Generalized low-sulphidation epithermal gold system schematic. The Company is using this model as a conceptual framework only; additional geological work is required to confirm the position of the Rosebud system within such a model.

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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.

Technical Disclaimer

Historical underground sampling referenced herein, including grab and channel samples, is selective in nature and may not be representative of overall mineralization. Reported assay results should not be relied upon as indicative of grade continuity, tonnage potential, or economic viability.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Peek is a Director of Kingman Minerals Ltd.

ABOUT

Kingman Minerals Ltd. (TSXV: KGS) 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.

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.

Cautionary Statement Regarding Forward-Looking Information The Company cautions that the Phase III results are early-stage exploration results. The Phase III drilling tested an approximately 100-metre segment of the interpreted magnetic structural corridor southeast of the Southwick vein system, with drill pads spaced roughly 25 metres apart. The results did not demonstrate economic-grade continuity within the area or depths tested. The presence of anomalous gold and silver values, veins, alteration or geophysical targets does not demonstrate the presence of an economic mineral deposit. Additional drilling, sampling, geological modelling and technical studies are required to assess whether mineralization may continue at greater depth, along strike, or elsewhere within the broader hydrothermal system. This news release contains forward-looking information regarding future exploration plans, geological interpretations and potential targets. Actual results may differ materially. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update forward-looking information except as required by applicable securities laws.

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Source: Kingman Minerals Ltd.