NevGold Corp. (TSX-V:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce further positive oxide antimony-gold drill results at its Limousine Butte Project in Nevada. All holes completed in the 2025 drill program are now released, with further assays pending on the 35 holes completed on the Crushed and Run of Mine historical gold leach pads. The Company is focused on completing the maiden antimony-gold Mineral Resource Estimate in Q2-2026. The maiden MRE is a key step in the development of Limo Butte with the objective of achieving near-term antimony production by 2027 from the historical gold leach pads, while also advancing the rest of the Project for future gold-antimony development.

NevGold CEO, Brandon Bonifacio, comments: “It is positive to see the level of continued success at Limo Butte and it is clear that we have one of the highest grade antimony projects in North America that is near-surface and oxide. We are focused on incorporating all of the new drillhole data into the upcoming maiden antimony-gold MRE at the Project. The maiden MRE is a key step in achieving our objective of near-term antimony production by 2027 from the historical surface gold leach pads. In parallel to advancing the historical leach pads to antimony production, we will also continue to develop the rest of the gold-antimony project focused on Resurrection Ridge and Cadillac Valley with further planned drilling, engineering studies, and permitting. We have significant optionality as we look to advance Limo Butte to a near-term production and cash-flow scenario with both oxide antimony and heap leachable oxide gold.”

Bonifacio continues: “Over the past 12 months, we have consistently validated that we have a large, near-surface footprint of oxide antimony-gold mineralization which is amenable to leaching, with the opportunity to produce both antimony and gold metal at the project site. Limo Butte continues to distinguish itself from other antimony projects globally with its unique geo-metallurgical characteristics and simple, leach processing flowsheet, compared to more complex sulphide projects which have challenging cost structures and metallurgy. In the near-term, we are focused on playing a key part in the mandate to create a vertically integrated, U.S. antimony supply chain.”

Key Highlights

• Continuous, high-grade oxide antimony-gold intercepted from surface with 1.93 g/t AuEq* over 100.6 meters (1.07 g/t Au and 0.22% Sb) at Resurrection Ridge:

• • LB25-023A (MRE upgrade): 1.11% Sb over 6.1 meters, within 1.93 g/t AuEq* over 100.6 meters (1.07 g/t Au and 0.22% Sb); due to drilling conditions the hole terminated in oxide 0.66% Sb and 3.44 g/t Au
  • LB25-028 (+180 meter step-out, additional MRE potential): 1.30% Sb over 3.0 meters , within 0.89 g/t AuEq* over 38.1 meters (0.20% Sb and 0.12 g/t Au)

• Strong infill and historical re-assay results from Cadillac Valley focused on upgrading the geological database for the upcoming MRE:

• • LB25-005 (MRE infill): 1.76 g/t AuEq* over 12.2 meters (1.60 g/t Au and 0.04% Sb), within 0.58 g/t AuEq* over 62.5 meters (0.45 g/t Au and 0.03% Sb)
  • LB25-007 (MRE infill): 0.42 g/t Au over 33.5 meters within 0.21 g/t Au over 146.3 meters
  • LB22-008 (MRE upgrade): 9.45 g/t AuEq* over 4.3 meters (2.29% Sb and 0.54 g/t Au), within 0.92 g/t AuEq* over 94.5 meters (0.29 g/t Au and 0.16% Sb)
  • LB22-024 (MRE upgrade): 1.80 g/t AuEq* over 18.3 meters (0.33% Sb and 0.50 g/t Au) within 1.29 g/t AuEq* over 73.2 meters (0.17% Sb and 0.63 g/t Au)
  • *Gold equivalents (“AuEq”) are based on assumed metals prices of US$3,000/oz of gold and US$40,000 per tonne of antimony, and assumed metals recoveries of 80% for gold and 75% for antimony.

• Antimony is one of the highest priority Critical Minerals due to its strategic importance and military applications; Limo Butte is a brownfield mine site located in the State of Nevada with at-surface antimony mineralization in the historical gold leach pads

Limo Butte Planned 2026 Activities / Status Update

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

• Evaluating the historical geological database with focus on gold and antimony (completed);

• Advancing metallurgica l testwork (ongoing);

• Continuing to drill test gold-antimony targets (5,000 meters (30 drillholes) completed and released, a further 20,000 meters is planned in 2026 focused on the Bullet Zone and Armory Fault discoveries, and other project-wide targets, see Figure 1);

• Advancing the Crushed and Run of Mine (“ROM”) leach pads to near-term antimony production (Drilling completed March-2026, MRE in Q2-2026, ongoing metallurgical testwork);

• Completing maiden gold-antimony Mineral Resource Estimate on historical gold leach pads, and Resurrection Ridge and Cadillac Valley target areas (MRE) (in progress).

• Advancing state and federal permitting, prioritizing the near-term reprocessing of the historical gold leach pads for antimony with no required mining activities (in progress ).

 Figure 1 – Oblique long section through Resurrection Ridge and Cadillac Valley showing; Au in drilling as discs, Sb in drilling as bar graphs, Sb >500 ppm rock chips as spheres, 4 kilometers of prospective strike length between Resurrection Ridge and Cadillac Valley, 1.5 kilometers of strike length defined at new Armory Fault discovery, and other 2026 target zones. Resurrection Ridge and Cadillac Valley are being advanced to Au-Sb Mineral Resource Estimate (“MRE”). 

Figure 2 – Resurrection Ridge target area with Bullet Zone discovery. Figure includes completed drilling and identified expansion areas with the thrust faulted Upper Plate Dolomite. Red outline is previous mineralization footprint at Resurrection Ridge, with 2025 NevGold drillholes expanding mineralization significantly to the east and west. 

Figure 3 – Cadillac Valley target area with completed 2025 drillholes and re-assay results. Red outline is previous mineralization footprint at Cadillac Valley. 2025 wor k program was focused on upgrading the gold-antimony MRE potential at Cadillac Valley. 

2025-2026 Drilling and Historical Re-Assay 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$3,000/oz of gold and US$40,000 per tonne of antimony, and assumed metals recoveries of 80% for gold and 75% for antimony.
***Due to drilling conditions, Hole LB25-023A terminated in oxide 0.66% Sb and 3.44 g/t Au.

Drillhole Orientation Details

 Figure 4 – Limousine Butte Land Holdings and District Exploration Activity.

Grant of Options

The Company also announces that it has granted 250,000 stock options of the Company to an advisor. Each Stock Option entitles the holder to acquire one common share of the Company at an exercise price of $1.72 per share with expiry date of April 9, 2028, subject to a vesting schedule of 50% upon grant, and 50% after 12 months. The Stock Options were issued pursuant to the terms of the Company’s stock option plan.

Sampling Methodology, Quality Control and Quality Assurance

NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. A 30g gold fire assay and multi-elemental analysis ICP-OES method was completed by ISO 17025 certified American Assay Labs, Reno.

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.

Technical information contained in this news release has bee n 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 NevGold

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.