NV Gold Announces Loan

Executive Summary

• NV Gold Corporation entered into an unsecured loan agreement with insider John Watson for US$165,000 at a 12% annual interest rate.
• The loan matures the earlier of one year from September 2 2025 or upon Watson’s demand for repayment; principal and accrued interest may be repaid at any time.
• Proceeds will primarily fund Bureau of Land Management fees and exploration services at the Slumber Gold Project, with the remainder allocated to liquidity and working capital.

Key Details

• Loan Amount: US$165,000 (aggregate).
• Interest Rate: 12% per annum, compounded annually.
• Maturity: Earlier of one year from effective date (Sept 2 2025) or upon demand by John Watson.
• Repayment Flexibility: Company may repay principal plus accrued interest at any time.
• Use of Proceeds:
• Majority → payment of BLM fees and exploration services for the Slumber Gold Project (summer 2025).
• Remainder → general liquidity and working capital.
• Related‑Party Transaction: Subject to MI 61‑101; loan value < 25% of fair market cap, so valuation and minority‑shareholder approval exemptions applied.
• Governance: John Watson (insider, non‑independent director) abstained from voting on board resolutions approving the loan.
• Regulatory Note: No material change report filed >21 days prior because terms were finalized shortly before execution; expedited closing deemed necessary for business reasons.

Notable Quotes

(No direct quotes provided in the release.)