NevGold Corp. (TSX-V:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that it has discovered further significant gold-antimony historical drill results at its Limousine Butte Project in Nevada. The Company continues to unlock the substantial gold-antimony potential of the Project, highlighting its promising prospects for further exploration and development in Nevada, one of the world’s prolific mining jurisdictions.

NevGold is also pleased to report the recent, sweeping Executive Order to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply. Antimony (Sb) has been identified as an important “Critical Mineral” in the United States essential for national security, clean energy, and technology applications, yet no domestically mined supply currently exists.

Key Highlights

• Further positive, near-surface, gold-antimony historical drillholes include:

• • LB-006: 2.46 g/t AuEq* over 86.9 meters (1.11 g/t Au and 0.30% Sb), including 5.75 g/t AuEq* over 12.8 meters (1.83 g/t Au and 0.87% Sb), and also including 6.77 g/t AuEq* over 6.7 meters (2.29 g/t Au and +1% Sb

• • LB-001: 1.69 g/t AuEq* over 63.9 meters (0.21 g/t Au and 0.33% Sb), including 4.10 g/t AuEq* over 17.7 meters (0.38 g/t Au and 0.83% Sb), and also including 4.64 g/t AuEq* over 6.4 meters (0.16 g/t Au and +1% Sb)

• • LB-003: 3.69 g/t AuEq* over 22.3 meters (2.26 g/t Au and 0.32% Sb), including 8.55 g/t AuEq* over 7.9 meters (5.97 g/t Au and 0.57% Sb)

• • LB-004: 0.73 g/t AuEq* over 110.40 meters (0.19 g/t Au and 0.12% Sb), including 1.16 g/t AuEq* over 36.6 meters (0.24 g/t Au and 0.21% Sb)

• • *Gold equivalents are based on assumed metals prices of US$2,000/oz of gold and US$35,000 per tonne of antimony (~30% discount to current spot prices), and assumed metals recoveries of 85% for gold and 70% for antimony.

• Significant antimony (Sb) upside: historical drilling had an upper detection limit of 1% Sb but many drill intervals exceeded the limit; these holes are currently being re-assayed at American Assay Lab in Reno, Nevada without the 1% upper detection limit
• Extensive gold-antimony mineralization: multiple zones, including Resurrection Ridge and Cadillac Valley, demonstrate significant potential across a large, open mineralized footprint

• • All areas at the Project with gold-antimony potential are permitted and ready to drill under the Limo Butte Plan of Operations approved in November-2024 (see NevGold News Release from November 27, 2024)

• Historical geochemical rock chip sampling from the past-producing Golden Butte pit had numerous results with +1% antimony in jasperoid breccias, several results with +5% antimony, including a sample of 9.6% antimony with visible stibnite and stibiconite (see Figure 1)
• NevGold will continue re-evaluating historical drilling from the Project, focusing on both oxide gold and antimony; large portions of the existing database were not analyzed for antimony creating a significant, low-cost opportunity to re-assay historical drilling

Limo Butte Planned 2025 Activities / Status Update

NevGold will continue its active exploration program at Limo Butte including:

• Evaluate the historical geological database with focus on gold and antimony (in progress);

• Re-analyze historical drilling with focus on gold and antimony (in progress);

• Drill test gold-antimony targets (subject to the results of the evaluation);

• Initiate preliminary metallurgical studies (in preparation).

Figure 1 – Limousine Butte Gold-Antimony Project with selected gold-antimony historical drillhole results.

Figure 2 – Limousine Butte Gold-Antimony Project cross-section with selected gold-antimony historical drillholes. Thin colored discs show Antimony (Sb ppm) in drilling, and wide colored discs show Gold (Au ppm) in drilling.

NevGold CEO, Brandon Bonifacio, comments: “The further discovery of significant gold-antimony drill results in historical drillholes continues to be an important, emerging development at our Limo Butte oxide gold-antimony project. There are a number of holes that we are analyzing and re-assaying which highlight the significant gold-antimony potential at both Resurrection Ridge and Cadillac Valley, which are the two most advanced targets at the Project. The higher-grade oxide gold targets at Resurrection Ridge and Cadillac Valley coincide with the best antimony results and cover over 5km of strike length, creating a compelling dual-commodity opportunity. With the robust historical database, we have a number of holes to release with combined gold-antimony results, and the Project is also fully permitted and drill-ready for future exploration and drilling programs, which will expedite and simplify future field work programs. The timing and market conditions are opportune to re-awaken the gold-antimony potential at Limo Butte and the recent actions from the United States government with the newly passed Executive Order shows their commitment to advancing high-quality, domestic, mineral projects.”

Historical Drill Results

*Downhole thickness reported; true width varies depending on drill hole dip and is approximately 70 to 90% of downhole thickness.

**The gold equivalents (“AuEq”) are based on assumed metals prices of US$2,000/oz of gold and US$35,000 per tonne of antimony (~30% discount to current spot prices), and assumed metals recoveries of 85% for gold and 70% for antimony.

***Selected drillholes released in a previous News Release on February 27, 2025.

**** Historical drilling had an upper detection limit of 1% Sb but many drill intervals exceeded the limit.

Limo Butte Geology & Antimony Potential

A review of historical geochemical and drilling data at the Limousine Butte Project has identified multiple areas with strong gold-antimony potential. These zones correlate closely with outcrops of the Devonian Pilot Shale, the primary host rock for Carlin-type gold mineralization in the area. Positive gold grade at Limousine Butte is typically associated with silicification and the formation of jasperoid breccias within the Pilot Shale, an alteration feature also observed in the positive antimony results.

Through the Project data review, the Company uncovered reports detailing two small-scale historic mining operations at the Nevada Antimony Mine and Lage Antimony Prospect within the Limo Butte Project boundary (see Figure 3 below). The Nevada Antimony Mine featured two prospect pits that extracted stibnite (formula: Sb₂S₃) from a hydrothermal breccia. The Lage Antimony Prospect reported historical unverified sampling results with up to 14.46% Antimony with additional prospect pits extracting antimony. The Nevada Bureau of Mines and Geology (“NBMG”) had historical reports on both of these which can be found here: Nevada Antimony Mine Report Lage Antimony Prospect Report

Historical geochemical rock chip sampling within the past-producing Golden Butte pit from a Brigham Young University (“BYU”) Thesis study produced numerous results that exceeded 1% antimony in jasperoid breccias (see Figure 1). Several results were greater then 5% antimony, including a sample of 9.6% antimony with visible stibnite and stibiconite. BYU Thesis Report

NevGold VP Exploration, Greg French, comments: “After more review of the historical data at Limo Butte, we continue to be encouraged by the footprint and gold-antimony grade in historical drilling and surface sample results completed at the Project. Only a portion of the historical drilling was assayed for antimony, and the results that we have identified are positive for both gold and antimony. We are starting to build a gold-antimony mineralization footprint at Resurrection Ridge, and we continue to review holes from both Resurrection Ridge and Cadillac Valley. We have also started the re-assaying program with numerous holes already sent to American Assay Lab in Reno, Nevada. We will continue to focus our future exploration to understand the controls and determine the extent of the gold and antimony mineralization.”

 Figure 3 – Limousine Butte Project with historical antimony in rock chips and soils. The total strike length between Resurrection Ridge and Cadillac Valley is +5km.

Drillhole Orientation Details

Figure 4 – Limousine Butte Land Holdings and District Exploration Activity

US Executive Order – Announced March 20, 2025

The Executive Order invokes the use of the Defense Production Act as part of a broad United States Government effort to expand domestic minerals production on national security grounds. As it relates to project permitting, the Order states that it will “identify priority projects that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions…to expedite and issue the relevant permits or approvals.” Furthermore, the Order includes provisions to accelerate access to private and public capital for domestic projects, including the creation of a “dedicated mineral and mineral production fund for domestic investments” under the Development Finance Corporation.

This decisive action by the US Government highlights the urgent need to expand domestic minerals output to support supply chain security in the United States. This important Order will help revitalize domestic mineral production by improving the permitting process and providing financial support to qualifying domestic projects.

Importance of Antimony

Antimony is considered a “Critical Mineral” by the United States based on the U.S. Geological Survey’s 2022 list (U.S.G.S. (2022)). “Critical Minerals” are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage.

Globally, approximately 90% of the world’s current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense (“DOD”) has designated antimony as a “Critical Mineral” due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.

Perpetua Resources Corp. has the most advanced domestic gold-antimony project in the United States. Perpetua’s project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold’s Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including the technical development and permitting has led to US$75 million in Department of Defense awards, and over $1.8 billion in indicative financing from the Export Import Bank of the United States (“US EXIM”) (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025))

Historical Data Validation

The Company’s Qualified Person Greg French, Vice President, Exploration has completed a review of the historical data in this press release. The historic data collection chain of custody procedures and analytical results by previous operators appear adequate and were completed to industry standard practices. For the Newmont and US Gold data a 30g gold fire assay and multi-elemental analysis ICP-OES method MS-41 was completed by ISO 17025 certified ALS Chemex, Reno or Elko Nevada.

Geochemical ICP (5g) analysis for the Wilson, Christianson and Tingey report was completed by Geochemical Services Inc. and the XRF analyses (glass disk or pellets) by Brigham Young University.

Technical information contained in this news release has been reviewed and approved by Greg French, CPG, the Company’s Vice President, Exploration, who is NevGold’s Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.

About the Company

NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.