K2 Stakes Additional Claims at the Wels Project

VANCOUVER, Nov.08, 2017(GLOBE NEWSWIRE) -- K2 Gold Corporation ("K2" or the "Company") (TSX-V:KTO) is pleased to announce that it has completed staking of an additional 26 claims at the Wels Gold Property ("Wels" or "the Property") located in west-central Yukon Territory in the Traditional Territory of White River First Nation ("WFRN").

• Increases property claims by approximately 10% in response to favourable results from the 2017 field exploration program.
• The Wels Project now covers approximately 6500 ha of prospective ground.

The Wels Project now consists of 313 quartz claims including the newly staked 26 claims on the eastern edge of the property (Figure 1).The additional claims comprise of an area of ~550 ha which brings the total Wels land package to 313 quartz claims and 6500 ha. These new claims were staked on the assessment of anomalous rock grab and soil data analyzed by K2 in 2017 and cover the strike extent of new anomalous target areas including Chai as well as the eastern strike extent of the Saddle.

Jo Price, VP Exploration commented, "The Wels project represents a large, prospective opportunity and we are excited to continue vectoring into potential higher-grade gold mineralization as we develop our knowledge of the geology and structural setting.The additional land position solidifies our current property position and provides significant exploration 'buffer' around known zones and targets."

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About K2 Gold Corporation

K2 Gold Corporation is a junior mineral exploration company focused on building a portfolio of gold exploration projects in the Yukon, including the Wels Property located approximately 185 km south of Dawson City, Yukon. In addition to Wels the Company is conducting exploration at the Flume, Storck and Ladue properties in the South Klondike district north of Wels. The Company has assembled an experienced management team and board of directors with a track record of discovery success.

Qualified Person

Jo Price, P.Geo., VP Exploration of K2 and a Qualified Person under National Instrument 43-101 has reviewed and approved the technical information on the is release.

For additional information please contact Stephen Swatton at 604-331-5093.

On behalf of the Board of Directors,
"Stephen Swatton"
President and CEO
K2 Gold Corporation.

Forward-Looking Caution:

This news release contains forward-looking statements that are not historical facts.Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements, including statements regarding the 2017 exploration program at the Wels Gold, Storck, Ladue and Flume Properties (collectively the "Properties"), including results of drilling, and future exploration plans at the Properties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to reach satisfactory agreements with First Nations to facilitate its exploration and development plans for the Wels Property, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's public disclosure record which is available on SEDAR (www.sedar.com).Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply 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.Except as required by securities laws and the policies of the TSX Venture Exchange, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. No securities of the Company have been or will, in the foreseeable future, be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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