Nevgold mobilizing drill rig to Limousine Butte

Executive Summary

• Nevgold Corp. has received permits and is mobilizing a drill rig to its Limousine Butte project in Nevada to test historical gold heap leach pads for antimony, aiming to advance a near-term antimony production scenario.
• The company targets completing drilling in the coming weeks and delivering a Mineral Resource Estimate (MRE) by the beginning of Q2 2026 to define the grade and quantity of contained antimony.
• Metallurgical testwork indicates acid leaching is the preferred recovery method, achieving up to 92% antimony recovery with minimal impact on gold recovery, potentially allowing for future gold extraction after antimony processing.

Key Details

• Drilling Program:
  • A drill rig is mobilizing to test historical gold heap leach pads for antimony.
  • The objective is to advance the leach pads to a near-term antimony production scenario, with potential metal production by 2027.
  • Drilling is expected to be completed over the coming weeks.
  • The current 2025-2026 drill program has completed 30 holes, with 12 holes pending release.
  • 5,000 meters (30 drill holes) of drilling were completed in the previous phase; a further 20,000 meters are planned in 2026 focused on the Bullet zone and Armory fault discoveries.
• Sampling and Resource Estimation:
  • Phase 1 sampling results showed certain areas of the leach pads containing 0.74% to 0.81% antimony (Sb).
  • The MRE is a key step to define quantities of antimony for near-term processing.
  • An initial gold-antimony MRE is in progress.
• Metallurgy and Processing:
  • Acid leaching is identified as the preferred recovery method due to strong geometallurgical characteristics.
  • 2025 testwork resulted in antimony recoveries of up to 92%.
  • The process would produce antimony metal at-site via a conventional leaching scenario similar to solvent extraction-electrowinning (SX/EW) used in copper.
  • Antimony recovery has minimal to no impact on gold recovery; gold could be recovered in the future after antimony processing.
• Strategic Context:
  • Limo Butte is described as one of the only near-term, at-surface antimony production scenarios in the U.S.
  • The project benefits from a brownfield mine site status in Nevada, a top mining jurisdiction with systematic permitting.
  • A larger commercial gold-antimony opportunity is being advanced in parallel at Resurrection Ridge (including the high-grade antimony Bullet zone discovery made in 2025) and Cadillac Valley.
  • The U.S. executive order announced March 20, 2025, invokes the Defense Production Act to expedite permits and provide capital for domestic critical minerals like antimony, which is essential for national security and currently dominated by China, Russia, and Tajikistan.
• QA/QC:
  • Samples sent to ISO 17025-certified American Assay Labs in Reno, Nev.
  • Methods include 30-gram gold fire assay and multielemental analysis ICP-OES.
  • Greg French, CPG, Vice-President of Exploration, is the Qualified Person (QP) under National Instrument 43-101.

Notable Quotes

• "There are very few opportunities like the near-term antimony production potential from the historical gold leach pads at Limo Butte. There is a clear mandate in the United States to find near-term production from a number of critical minerals, and we have one of those opportunities, which we are rapidly advancing." — Brandon Bonifacio, CEO
• "Our focus is to drill the leach pads to advance to a mineral resource estimate by the beginning of Q2 2026, which will define the grade and quantities of contained antimony that we have on the pads. Once an MRE is delivered, we will be able to evaluate the various development scenarios to extract the antimony from the leach pads, with the objective of reaching antimony metal production by 2027." — Brandon Bonifacio, CEO