NevGold Defines Multiple High-Priority Drill Targets Including Key Feeder Structures at Nutmeg Mountain Gold Project, Idaho

Nevgold Corp. announced results from gravity and Controlled-Source Audio-Frequency Magnetotelluric (CSAMT) geophysical surveys at its 100% owned Nutmeg Mountain Gold Project in Idaho. The surveys identified nine new high-priority drill targets, including six near-surface targets for Mineral Resource expansion and three potential high-grade feeder structures at depth extending beyond historical drilling.

Geophysical inversions highlight resistive zones interpreted as intense silicification, a strong proxy for gold mineralization, with feeder targets ranked highest based on structural intersections. The company plans to drill these targets within the next 3-6 months to advance the project toward a Preliminary Economic Assessment (PEA) in 2027. Management reaffirmed that the primary operational and capital focus remains on the Limousine Butte project in Nevada.

Nevgold Corp. (NAU) released a standard exploration update for its Nutmeg Mountain project, aligning with the company’s stated 2026 work program. The release does not introduce new resource estimates, financing, or operational milestones that would alter the near-term development pathway.

The Limousine Butte project remains the primary catalyst for the company, with a maiden MRE already defined and a Phase 1 engineering study targeted for late 2026/early 2027. The Nutmeg Mountain update provides long-term optionality and validates the technical team's ability to generate targets, but it is considered incremental and expected by the market. No material price impact is anticipated from this release alone, which serves as a routine progress report.

Nevgold Corp. is a pre-revenue exploration and development company focused on gold, antimony, and copper assets in Nevada and Idaho. Its flagship Limousine Butte project in Nevada is a Carlin-style oxide gold-antimony deposit. A maiden mineral resource estimate released in July 2026 defined 1.38 million ounces of gold and 207,500 tonnes of antimony. The company is advancing a two-phase development strategy: Phase 1 focuses on re-processing historical leach pads for near-term antimony production, targeting 2027 or 2028, while Phase 2 targets a commercial open-pit operation between 2029 and 2030.

Secondary assets include the Nutmeg Mountain gold project in Idaho, which had a 2025 mineral resource estimate of 1.19 million ounces of indicated resources, and the Zeus Copper Project in Idaho on the Hercules Copper Trend. Metallurgical testwork confirmed greater than 93% gold recovery and 54-92% antimony extraction via sequential acid leaching, de-risking the processing flowsheet.