Kingman Completes Drone Magnetic Survey and Advances Drill Permitting at Mohave Project

Vancouver, British Columbia–(Newsfile Corp. – January 29, 2026) – Kingman Minerals Ltd. (TSXV: KGS) (OTCQB: KGSSF) (FSE: 47A1) (“Kingman” or the “Company”) is pleased to announce in conjunction with the completion of a high-resolution drone-based magnetic survey, it has filed a Bureau of Land Management (“BLM”) Notice of Intent to Conduct Exploration for Phase III drill program at its high-grade gold and silver Mohave Project in Arizona.

Since completing its oversubscribed financing in late 2025, the Company has fast-tracked targeted technical work to enhance its geological and structural understanding ahead of permitting and drilling at its flagship project including the historic Rosebud Mine.

Geophysics Completed

The Company completed a high-resolution drone magnetic survey designed to support drill planning in covered areas and for property-wide structural reconnaissance. The survey comprised approximately 305 line-kilometres flown on 30-metre line spacing at approximately 25 metres above ground level (AGL). Data were collected using a high-sensitivity potassium magnetometer and corrected using a ground-based magnetometer for diurnal variation. Processing deliverables include standard magnetic products such as Total Magnetic Intensity (TMI), Reduced-to-Pole (RTP), and derivative maps including first vertical derivative (1VD), analytical signal, and tilt derivative. The dataset has been delivered for further processing, including three-dimensional magnetic inversion.

Figure 1 & 2: Reduced-to-Pole (RTP) magnetic intensity map; First vertical derivative (1VD) of the RTP magnetic data

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Simon Studer, Interim CEO, President and Director, stated: “The immediate goal of the magnetic survey was to confirm and lock in drill locations for permitting. Depth-to-source estimates indicate that magnetic features deepen rapidly to the northwest while remaining relatively shallow to the southeast, making the southeast the most efficient first-pass target area for step-out drilling. Once the magnetic inversion is complete, we will work with the geophysicist to define final drill orientations from the permitted pad locations.”

The Company has delivered the magnetic dataset for further processing, including three-dimensional Magnetic Vector Inversion (“MVI”) modelling and geological analysis, to refine interpretations of structural geometry at depth and support finalization of drill collar locations and orientations for the next drill phase. Results will be integrated with historical mapping and geochemical sampling, and the Company will provide updates as processing and interpretation are completed.

Permitting Update

The Company has filed its BLM Notice of Intent for drilling at Mohave. The application is under review and approval is expected in the near term. Once approved, Kingman intends to mobilize and commence drilling promptly. The proposed Phase III program is designed to test the Southwick vein corridor extensions to the SE of the Rosebud Mine Area of the Mohave Project.

Technical Disclaimer

The magnetic survey identifies variations in magnetic response and relative depth to magnetic sources only. It does not identify mineralization or economic potential. All interpretations remain preliminary pending final processing and validation.

Qualified Person

The technical information in this website has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by, Qualified Person: Bradley C. Peek, MSc. CPG Qualified Person for 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 is 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 Cautionary Statement Regarding Forward-Looking Information This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to statements with respect to: the terms of the Private Placement; the anticipated use of proceeds; the anticipated insider participation in the Private Placement; the completion of the Private Placement; and the approval of the TSX Venture Exchange.

All statements, other than statements of historical fact, included herein, constitutes forward-looking information. Although Kingman believes that the expectations reflected in such forward-looking information and/or information are reasonable, undue reliance should not be placed on forward-looking information since Kingman can give no assurance that such expectations will prove to be correct. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties and other factors identified in Kingman’s periodic filings with Canadian securities regulators. Forward-looking information are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking information. Important factors that could cause actual results to differ materially from Kingman’s expectations include risks related to the completion of the Private Placement, including TSXV approval; risks associated with the business of Kingman; risks related to reliance on technical information provided by Kingman; risks related to exploration and potential development of the Company’s mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingman’s filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca).

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