NevGold Announces C$25M Brokered Private Placement Financing

• On April 20, 2026, NevGold Corp. announced a brokered private placement financing of up to C$25 million.
• The offering consists of 13,157,900 common shares at an issue price of $1.90 per share.
• An over-allotment option exists for the agent (Clarus Securities Inc.) to purchase up to an additional 15% of shares.
• Net proceeds are designated for advancing the Limousine Butte antimony-gold project in Nevada, the Nutmeg Mountain gold project in Idaho, and general working capital.
• The financing is expected to close on or about May 12, 2026.
• Agent compensation includes a 6.0% cash commission and 6.0% non-transferable compensation options exercisable at $1.90 for 24 months.
• This follows a series of positive drill results in April 2026 confirming antimony grades on historic leach pads (up to 0.34% Sb) and metallurgical recoveries exceeding 90%.

• Capital Security: The C$25M raise significantly extends the company's runway, funding the path toward near-term antimony production by 2027 as previously outlined in April 14 news. This removes immediate liquidity risk associated with the previous C$11M cash balance reported in January 2026.
• Valuation Validation: The issue price of $1.90 represents a substantial premium over prior financings ($0.30 in May 2025, $0.65 in November 2025). This pricing indicates strong institutional confidence in the project's value proposition (Antimony/Gold) and validates the stock's appreciation from 2025 lows.
• Dilution Impact: The issuance of ~13.16 million shares against a base of ~134.8 million outstanding represents approximately 9.7% dilution prior to over-allotment. While dilutive, this is manageable given the capital secured for development and the premium pricing relative to historical averages.
• Execution Risk: The financing is "best efforts," meaning there is no guarantee of full subscription, though the news states it has "strong institutional support." Failure to close could jeopardize the 2027 production timeline.
• Market Sentiment: Raising capital near recent highs ($2.10) rather than during a dip suggests management believes current valuation levels are sustainable or undervalued relative to project potential, which is generally viewed positively by risk-tolerant investors but scrutinized by dilution-sensitive holders.

• Company: NevGold Corp. is a mineral exploration and development company focused on gold and antimony assets in Nevada and Idaho, USA.
• Flagship Project: Limousine Butte (Nevada). This is an oxide gold-antimony deposit with historic mining activity. The current strategy focuses on re-processing historic leach pads for near-term antimony production by 2027 while exploring deeper targets (Resurrection Ridge, Cadillac Valley) for a larger resource.
• Secondary Projects: Nutmeg Mountain (Idaho) - Gold heap-leach project with an updated MRE of 1.2Moz Indicated; Zeus Copper Project (Idaho) - Early-stage copper exploration on the Hercules Copper Trend.
• Strategic Focus: Leveraging U.S. Critical Minerals designation for antimony to secure domestic supply chain positioning and potential government financing support.