Kingman Completes Hole MH-01 @ 225 ft In Rosebud Mine Area Intersecting 2 Mineralized Veins

February 26, 2021

Vancouver, B.C. (February 26, 2021) Kingman Minerals Ltd. (TSX-V:KGS) (FSE:47A1) (“Kingman” or the “Company”) is pleased to announce that the Company completed MH-01 at a depth of 225 ft (68.6m). Core hole MH-01 was intended to intersect the two veins that were mined primarily in the 1930s for gold and silver.  The hole was angled at -45 degrees to horizontal so that it would pass through the two veins between the 100- and 200-foot levels of the mine workings.  The two veins in the mine are separated by a rhyolite dike (a Tertiary intrusive rock) that varies between 20 and 50 feet in width and which may have influenced the gold and silver mineralization.  The surrounding "country rock" is the Precambrian-age Quartz Diorite Gneiss, a very old metamorphic rock.  Other intrusive rocks encountered in the drill hole include a Porphyritic Diorite and a Diabase, also probably of Tertiary age.  The intersection of the vein in two places was the objective of the drill hole and it will hopefully confirm the grades of gold and silver stated in historic reports on the property.

Figure 1 –Core and core boxes from MH-01. Core from MH-01 is being prepared by Dahrouge Geological Consulting for analysis by ALS Tucson.

Figure 2 – Strip Log of MH-01 showing the intersection of two mineralized veins, shown in red.

Upon visual inspection it appeared that both mineralized veins on either side of the rhyolite dike were intersected. "The presence of the veins at their projected locations is very encouraging and we look forward to seeing the assay results” commented Brad Peek, M.Sc. CPG

Samples will be sent to ALS Global Laboratories in Tucson Arizona on a rush basis and assays for gold and silver analysis are pending.

The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, 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.

The Mohave Project (the “Project”) is located in the Music Mountains in Mohave County, Arizona and is comprised of 71 lode claims which are inclusive of the past producing Rosebud Mine (the “Rosebud”). 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.

For further information please contact:
Sandy MacDougall, Chairman & Director
(604) 685-7720

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.