NevGold Corp. (TSX-V:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce further significant oxide gold-antimony drill results at its Limousine Butte Project in Nevada. The Company continues to expand 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.

Key Highlights

• Some of the highest oxide gold-antimony grades seen to date at Resurrection Ridge including:
  • LB21-004: 9.68 g/t AuEq* over 11.6 meters (8.92 g/t Au and 0.17% Sb), within 2.85 g/t AuEq* over 60.3 meters (2.27 g/t Au and 0.13% Sb)
  • RR03_06: 1.55 g/t AuEq* over 19.8 meters (0.88 g/t Au and 0.15% Sb) within 1.24 g/t AuEq* over 65.5 meters (0.52 g/t Au and 0.16% Sb)
  • LB020: 1.20 g/t AuEq* over 33.9 meters (0.35 g/t Au and 0.19% Sb) within 0.85 g/t AuEq* over 58.2 meters (0.25 g/t Au and 0.13% Sb)
  • *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.

• Drillholes at Resurrection Ridge are drilled with spacing showing strong potential to advance the Project to an initial gold-antimony Mineral Resource Estimate in 2025 (see Figure 1, Figure 2)

• High-grade areas at the eastern part of the Resurrection Ridge target area will be tested as part of the 2025 drilling (Figure 1)

• Metallurgical testwork program continues to advance with results expected over the coming weeks

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);

• Advance metallurgical testwork (in progress, results in coming weeks);

• Drill test gold-antimony targets (in planning phase, expected start in July).

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

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

Figure 3 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results at Resurrection Ridge and Cadillac Valley. The total strike length between Resurrection Ridge and Cadillac Valley is +5km.

NevGold CEO, Brandon Bonifacio, comments: “These recent results have some of the highest oxide gold-antimony grades that we have seen to date at Limo Butte. Resurrection Ridge is starting to build the drill-hole spacing and volume of holes to advance the Project to an initial gold-antimony Mineral Resource Estimate. Our main focus is to continue to release oxide gold-antimony results as we prepare for the upcoming 2025 drill program, with the objective of advancing the Project to the MRE within 2025. Our metallurgical testwork program also continues to advance positively and we expect to have results in the coming weeks. The environment is optimal to continue to advance and unlock the gold-antimony potential at Limo Butte as there is a clear commitment from the United States to advance high-quality, domestic, mineral projects.”

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Historical and Re-Assayed 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.

Drillhole Orientation Details

Limo Butte Geology & Antimony Summary

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. The Nevada Antimony Mine featured two prospect pits that extracted stibnite (formula: Sb₂S₃) from a hydrothermal breccia. The Lage Antimony Prospect reported historical additional prospect pits extracting antimony.

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

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

US Executive Order – Announced March 20, 2025

The Company is 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.

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. (NASDAQ:PPTA) (TSX:PPTA) 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 (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025))

Figure 5 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here

Historical Data Validation

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 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 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.