Precious Metals

Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical system will explore mineral potential over 944 line-kms beginning in February.

MLK Gold Ltd. ( CSE: MLK ) ( or the " Company "), a growth-oriented gold exploration company headquartered in Windsor, Nova Scotia is pleased to announce that it will conduct a Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey on its flagship Caledonia Brook gold property with the work set to begin in February. Located in the south-west region of Grand Falls Windsor Newfoundland the Caledonia Brook property is situated west of New Found Gold Corporation's high-grade gold discovery and shares geological similarities to Marathon Gold's (4 million ounces) Valentine and Victoria Lake Grand Falls Shear Zone System.

MLK Gold Ltd. (CSE: MLK) Logo (CNW Group/MLK Gold Ltd.)

Based in Aurora, Ontario , Geotech Ltd. specializes in airborne geophysical survey mapping, data processing and data interpretation. Their industry leading VTEM™ Plus technology has a radar altimeter accuracy of approximately 1 meter and unparalleled depth of penetration and high-resolution imaging which allows for better characterization of mineral and rock density. The contract with MLK Gold will cover 944 line-kms across the Caledonia Brook gold property which consists of 284 claims covering 7,100 hectares.

Through recent compilation, structural interpretation, and exploration at the Caledonia Brook gold property, the Company has named 10 target zones and will use the survey data to identify new zones on the shear zones and analyze initial field data showing visible gold in narrow quartz veins assaying 2.85 g/t Au. Further, the Intrusive Related Gold System (IRGS) crossing Central Newfoundland is host to dominantly mesothermal lode gold deposits. The Caledonia Brook mineralization is hosted in quartz monzonite and gabbro/diorite of the Crippleback Lake Pluton, yielding a U/Pb zircon age of 565+4/-3Ma identical to Marathon Gold's Valentine Lake plutonic suite.

MLK President & CEO, Paul Smith , stated: " The Caledonia and Crippleback Shear Zones show highly altered rocks, implying large fluid systems for gold emplacement and deposition. With gold discoveries in the area along the same shear zone system as Caledonia and Crippleback, we believe the VTEM™ Plus geological survey, once integrated with earlier geological data, is a critical step in providing the essential geophysical data we need to expand our 2022 exploration program. Recent surveys flown with VTEM™ Plus have produced superior results over the same test areas using electromagnetic (EM) surveys, so we are eager to begin the program and see what our investment yields. The MLK geology team is excited about this next step."

Results from earlier completed glacial till sampling survey are still pending but expected soon.

Qualified Persons and 43-101 Disclosure

Paul Smith , P. Geo., President & CEO for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

About MLK Gold Ltd.

Founded in 2018, MLK Gold Ltd. is quickly emerging as one of Atlantic Canada's premiere resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. Invested in a portfolio of gold projects in mining and mineral-rich Newfoundland , MLK's plan is to capitalize on the province's ranking as one of the world's top 10 mining jurisdictions and expand into a long-life, financially sound gold-mining company.

Additional information about the Company and its activities may be found on the Company's website at www.mlkgold.com and under the Company's profile at www.sedar.com .

To view the Company's recent promotional video, please click HERE .

Forward-Looking Statements

This news release contains certain forward-looking statements. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

SOURCE MLK Gold Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2022/01/c9477.html

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MLK:CNX
MLK Gold. Ltd. announces commencement of airborne geophysical survey on flagship Caledonia Brook gold property

MLK Gold. Ltd. announces commencement of airborne geophysical survey on flagship Caledonia Brook gold property

Geotech Ltd. using industry leading Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical system to survey property

MLK Gold Ltd. (CSE: MLK) (or the " Company "), a growth-oriented gold exploration company headquartered in Windsor, Nova Scotia is pleased to announce the commencement of the Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey on the Company's flagship Caledonia Brook gold property located in the south-west region of Grand Falls Windsor Newfoundland . The Caledonia Brook property is situated west of New Found Gold Corporation's high-grade gold discovery and shares geological similarities to Marathon Gold's (4 million ounces) Valentine and Victoria Lake Grand Falls Shear Zone System.

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MLK GOLD ANNOUNCES CSE LISTING

MLK GOLD ANNOUNCES CSE LISTING

MLK Gold Ltd. (CSE: MLK) ("MLK" or the "Company") is pleased to announce that it has entered into a purchase agreement of today's date with a group of arm's length parties to acquire certain mineral claims adjoining the Company's Caledonia Brook property located in Newfoundland and Labrador .

MLK Gold Ltd. (CSE: MLK) logo (CNW Group/MLK Gold Ltd.)

As consideration for the claims, the Company will issue an aggregate of 15,000 common shares, which shares will be subject to a 12-month contractual hold period as well as applicable resale restrictions under Canadian securities laws, and will grant a 1% net smelter return royalty over the claims, half of which may be repurchased by the Company at any time for payment of $250,000 in cash.

ON BEHALF OF THE BOARD OF DIRECTORS

s/"Paul K. Smith"

About MLK Gold Ltd.

MLK Gold Ltd. is a Canadian junior exploration company operating in eastern Canada . MLK's current projects are located in Nova Scotia and the island Newfoundland and include: a 100% interest in the Highfield project, located in Nova Scotia , a 100% interest in the Manuels project, located in Newfoundland and a 100% interest in the Caledonia Brook project, also located in Newfoundland .

Forward-Looking Statements

This news release contains certain forward-looking statements, including statements regarding the expected trading date. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE MLK Gold Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2022/23/c4802.html

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