NV Gold Identifies a Significant New Gold Zone at Awakening Area of the Slumber Project

NV Gold Corporation (NVX) released initial assay results from three of six holes completed to date in its 2026 reverse circulation (RC) drilling campaign at the 100%-owned Slumber Gold Project in Humboldt County, Nevada. The company plans to drill between 25 and 30 holes in total. These holes are testing a newly identified "Awakening Zone," located nearly 1.4 km northeast of previously reported gold zones and straddling the boundary between existing claims and newly leased DeLong Ranch private land.

The reported intercepts, based on core/downhole lengths with uncut grades, include the following:

• SL-42 (designated "discovery hole"): 158.5 m to 199.64 m = 41.14 m @ 0.844 g/t Au; including 570-640 ft = 21.34 m @ 1.00 g/t Au. Collar ~250 m south of SL-38. TD 224.03 m, az 145, dip -60.
• SL-42*: 6 m to 56 m = 50.0 m @ 0.420 g/t Au. Samples from SL-42 655-735 ft are pending due to lab delay.
• SL-38: 185.98 m to 233.23 m = 47.25 m @ 0.655 g/t Au; hole terminated at 233 m due to caving, ending in +/-0.5 g/t Au. Collar 120 m south of SL-37.
• SL-37 (first hole, TD 170.69 m): Encountered weakly altered volcanics with only "anomalous" gold values, effectively resulting in a blank.
• SL-39 and SL-39A: Drilled midway between SL-38 and SL-42, these holes terminated short of target depth (117.35 m and 161.54 m) due to broken/altered ground; assays are pending.

True widths are not known and are estimated at 70-100% of the drilled length. Grades are uncut with no cutoff stated. Assays remain pending for SL-39/39A and for the 655-735 ft portion of SL-42, meaning only three of the six planned holes have reported results so far. CEO framing describes the known gold system as large, covering an area over two kilometers long and 0.5-1.0 km wide.

NV Gold Corporation (NVX) is a grassroots explorer with a market capitalization of approximately $28 million and no established mineral resource. The company’s May 31, 2026, MD&A included going-concern language, noting it was dependent on equity financing. While the last reported cash balance was $1.11 million at May 31, 2026, the company claims its treasury exceeds $2.0 million following raises in August.

The company has identified a new mineralized zone, named Awakening, located 1.4 km from known gold deposits. This discovery was established through assays showing consistent grades across two widely spaced drill holes, expanding the system footprint and supporting the thesis of a connected 2 km system.

NV Gold’s stock has roughly quadrupled from approximately $0.20 in early August 2026 to $0.86 on September 17. This run was driven by the commencement of the drill program, the acquisition of the DeLong Ranch land, and CEO comments describing the Slumber discovery as potentially transformational. The stock is currently at its 52-week high.

The Awakening zone features low grades ranging from 0.42 to 0.84 g/t. While the discovery confirms the system is real and broad, it does not provide the grade or thickness that would typically justify a further step-change in valuation. There is no explicit prior intercept for the Awakening zone to compare against, so the results are not materially weaker than previous expectations, but they do not offer a positive differentiation from the valuation already reflected in the stock price.

NV Gold Corporation (TSXV: NVX; OTCQB: NVGLF) is a Vancouver, BC and Reno, NV-based exploration company focused on gold in Nevada. CEO and Chairman John Watson holds more than 50% of the shares outstanding.

The company’s flagship asset is the Slumber Gold Project, which comprises 130 lode claims and approximately 1,500 acres of leased private ranch land. The property features volcanic-hosted epithermal oxide gold within a structural corridor along the southern Jackson Mountains, located approximately 80 km northwest of Winnemucca and about 35 km west of the Sleeper deposit.

Prior work at the site includes four reverse circulation (RC) drilling campaigns since 2019, totaling 34 holes and 8,588 meters of drilling prior to 2026. The company also completed a Controlled Source Audio-Magnetotelluric (CSAMT) survey in 2019 and an Induced Polarization (IP) survey in 2022. In March 2023, the company released a conceptual "Exploration Target" of approximately 450,000 ounces for the southern claim block.

NV Gold’s portfolio includes other Nevada projects, such as the SW Pipe and Triple T assets. The Triple T lease was terminated in 2026 as economically infeasible, according to the company’s Management’s Discussion and Analysis (MD&A).

As of the release, the company had approximately 35 million shares issued. Prior-period financials as of May 31, 2026, showed 29.5 million shares, a book value of approximately $0.15 per share, $1.11 million in cash, no debt, and a going-concern flag. The release states that the company holds more than $2.0 million in treasury and has no debt following 2026 financings. The company currently has no revenue, resource, or production.