EnviroGold Advances NVRO Process(TM), Broadens Addressable Market

Executive Summary

• EnviroGold announced a technical advancement in sulfide pre‑concentration that broadens the addressable market for its NVRO Process™ to include lower‑grade tailings deposits.
• The improvement is expected to enhance project economics by reducing capital intensity and increasing the number of viable licensing opportunities.
• Management highlighted gold recovery up to 99.55 % and silver recovery up to 98.96 % in testing, underscoring the commercial potential of the enhanced process.

Key Details

• The advancement refines understanding of sulfide pre‑concentration dynamics within the NVRO Process™ flowsheet.
• Prior selection criteria (metallurgy amenable + ≥ US$350/tonne metal value) excluded many low‑grade tailings; the new approach focuses on total recoverable sulfides rather than bulk grade.
• Demonstrated process performance (from prior Q3 base case):
• 125 t/h solids feed → ~16.8 t/h residue sold to smelters, a ≈7.4× concentration upgrade.
• By pre‑concentrating metal‑bearing sulfides before leaching:
• Capital intensity can be reduced.
• Smaller, higher‑value concentrate stream is produced, improving economics.
• Updated site‑selection framework now considers:
  1. Metallurgy amenable to NVRO (metal‑bearing sulfides).
  2. Sufficient total recoverable sulfides containing precious/critical metals.
• Expansion of market opportunity includes lower‑grade tailings with significant silver, gold, and critical metal content.
• CEO Grant Freeman stated the 2025 Optimization Program “meaningfully changed how we assess NVRO project opportunities,” citing recovery rates of up to 99.55 % for gold and 98.96 % for silver.
• Anticipated outcome: increase in potential licensing deals and reinforcement of EnviroGold’s “Metals Without Mining” capital‑light business model.

Notable Quotes

“The work undertaken during the 2025 Optimization Program has meaningfully changed how we assess NVRO project opportunities… this is an important milestone for EnviroGold, as it expands its addressable market, has the potential to improve project economics, and increases our exposure to precious and critical metal prices.” – Grant Freeman, CEO

Materiality Assessment: Material – Positive (the advancement materially enhances the company’s commercial prospects and could positively impact future revenues).