Natbridge submits first gold resource bid to NatGold

Executive Summary

• NatGold Digital received its first official supply-side submission for tokenization approval from Natbridge Resources Ltd. for the Cahuilla gold project in Imperial County, California.
• The submission covers subsurface mineral rights for land parcels 45 and 46, which contain an estimated 122,211 ounces of indicated gold and 6,650 ounces of inferred resources based on a March 2021 NI 43-101 technical report.
• Preliminary calculations suggest the project could generate approximately 50,214 NatGold tokens, with a potential baseline intrinsic value of ~$129.6 million USD, subject to NatGold's proprietary certification and digital mining cut-off grade review.

Key Details

• Submission Details: Natbridge Resources Ltd. submitted the application for tokenization of subsurface mineral rights for land parcels 45 and 46 of the Cahuilla gold project.
• Resource Estimates (NI 43-101, March 10, 2021):
  • Indicated Gold: 122,211 ounces at a cut-off grade of 0.005 oz/ton (0.16 g/t).
  • Inferred Gold: 6,650 ounces at a cut-off grade of 0.005 oz/ton (0.16 g/t).
• Tokenization Ratios:
  • 0.40 NatGold tokens per ounce of indicated gold.
  • 0.20 NatGold tokens per ounce of inferred gold.
• Preliminary Token Count: Approximately 50,214 NatGold tokens prior to final certification.
• Certification Process: An independent firm will apply NatGold Digital’s patent-pending digital mining cut-off grade of 0.10 g/t. NatGold states that because this cut-off is lower than the NI 43-101 report’s 0.16 g/t, eligible resources may increase rather than decrease.
• Token Allocation (Negotiated with Natbridge):
  • 73% to Natbridge Resources.
  • 20% to NatGold Digital.
  • 5% to the NatGold Contingency Fund.
  • 2% to the NatGold Custodian & Social Giveback Program.
• Valuation Metrics:
  • Baseline Intrinsic Value (BIV) per token: $2,582 USD (as of Nov 14, 2025).
  • Total Estimated Token Value: $129,652,548 USD.
  • Natbridge Value (73%): $94,646,360 USD.
  • NatGold Digital Value (20%): $25,930,510 USD.
• Demand Metrics: As of Oct 23, 2025, over 10,500 participants have reserved 80,135 NatGold tokens, representing over $205 million USD in Baseline Intrinsic Value.
• Project History: The Cahuilla project has over 30 years of exploration history involving Homestake, Newmont, Fischer-Watt, TDMCI, Kennecott, Consolidated Goldfields, and Teras Resources. Natbridge acquired the project from Teras on Oct 21, 2025.
• Launch Timeline: The inaugural tokenization event is anticipated in the first quarter of 2026.

Notable Quotes

• Mark Radke, Executive Chairman, NatGold Digital: "Natbridge's submission represents a major milestone for NatGold Digital. Earlier this year, we began building premarket demand for the NatGold token, and the response has surpassed every expectation... This level of enthusiasm -- from both traditional gold investors and the global crypto community -- confirms that the world is ready for a sustainably mined, non-dilutive digital asset backed by real in-ground value."
• Andres Fernandez, CEO, NatGold Digital: "With demand now firmly established... The next phase is clear: we are building a buoyant supply-side pipeline of high-quality gold resources in advance of our inaugural NatGold tokenization event in early 2026. Natbridge is the first of many submissions we expect to see enter the approval process..."
• Michelle Ash, Executive Chair, Natbridge Resources: "Natbridge's work with NatGold Digital represents an important early step in applying these concepts, contributing to the natural evolution of how the sector may recognize and realize gold's value."