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

WINDSOR, March 1, 2022 - 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 Corp.'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.

On February 1, 2022, the Company announced it had entered into an agreement with Aurora, Ontario-based, Geotech Ltd., to conduct the highly specialized airborne geophysical survey. Geotech is currently in the field covering 944 line-kms across the Caledonia Brook gold property which consists of 284 claims covering 7,100 hectares. 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 Company expects to receive preliminary results from the highly interpretive geophysical survey in early March. The data will be further analyzed by both Geotech and the Company's team of geologists. Once geo-mapping data is processed and completed, Company President & CEO, Paul Smith (P.Geo.), will issue a statement announcing the results.

"We entered the year with an aggressive agenda focused on operationalizing our 2022 Exploration Plan, so we are excited about what the survey results could mean for the company," said Smith, who also pointed out that recent surveys flown with VTEM™ Plus have produced superior results over the same test areas using electromagnetic (EM) surveys.

MLK Gold Executive Chairman, William (Bill) Fleming, says the Company's strategy is already exceeding expectations.

"Compared to where we were last year to where we are today, there is no question we are setting the company up for success," added Fleming. "We are standing amongst giants here, we know that. Yet, as we continue to mature and grow in this golden land of opportunity, it will be our vision and continued investment in our path to exploration excellence that ultimately defines us."

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.