NevGold Corp. Intercepts 11.42 g/t AuEq Over 7.7 Meters (2.64% Antimony And 1.17 g/t Au)

NevGold CEO, Brandon Bonifacio, comments: "We continue to validate that we have one of the highest grade antimony projects in North America that is near-surface and oxide, which is exemplified by Hole LB25-024 which intercepted a thick, consistent zone of 4.91 g/t AuEq* over 27.4 meters (1.09% Sb and 0.67 g/t Au). Most of the global antimony projects are sulphide and narrow vein-type systems that require underground mining to produce an antimony concentrate, which adds significant complexities to the operation, cost structure, and concentrate marketing. At Limo Butte we have defined a large, near-surface footprint of oxide antimony mineralization which is amenable to leaching, and we have the opportunity to produce antimony metal at the project site. Being able to produce antimony metal at the project site removes reliance on downstream refining at a concentrator."

Bonifacio continues: "Our initial antimony-gold Mineral Resource Estimate is on track for Q2-2026, which will allow us to highlight the key attributes of the Project. We are in an advantageous position as we have development optionality as we advance Limo Butte towards a potential production and cash-flow scenario by 2027, with further phased gold-antimony project development scenarios in the future. All of our various work programs have demonstrated the quality of the antimony-gold potential at Limo Butte, and we will continue to systematically advance the Project with the objective of playing a key part in the mandate to create a vertically integrated, U.S. antimony supply chain."

Key Highlights

• High-grade oxide antimony-gold intercepted with 11.42 g/t AuEq* over 7.7 meters (2.64% Sb and 1.17 g/t Au):
  • LB25-024 (MRE upgrade, gap in antimony data): 11.42 g/t AuEq* over 7.7 meters (2.64% Sb and 1.17 g/t Au), within 4.91 g/t AuEq* over 27.4 meters (1.09% Sb and 0.67 g/t Au)
  • LB25-022 (MRE upgrade, gap in antimony data): 1.07 g/t AuEq* over 7.6 meters (0.24% Sb and 0.12 g/t Au), within 0.75 g/t AuEq* over 35.0 meters (0.17% Sb and 0.09 g/t Au)

• Further re-assay results from historical drilling have upgraded the geological database for MRE purposes:

• • LB22-025 (MRE upgrade, re-assay result): 5.36 g/t AuEq* over 9.1 meters (1.30% Sb and 0.30 g/t Au), within 1.75 g/t AuEq* over 73.2 meters (0.31% Sb and 0.53 g/t Au)
  • LB21-001 (MRE upgrade, re-assay result): 2.28 g/t AuEq* over 46.8 meters (0.22% Sb and 1.41 g/t Au) including 2.15 g/t AuEq* over 13.7 meters (0.39% Sb and 0.62 g/t Au)
  • *Gold equivalents ("AuEq") are based on assumed metals prices of US$3,000/oz of gold and US$40,000 per tonne of antimony, and assumed metals recoveries of 80% for gold and 75% for antimony.

• Historical gold leach pad drill program advancing with 15 holes completed of planned approximate 35 hole program (see Figure 3)

• • MRE on historical leach pads is tracking to early Q2-2026
  • MRE on historical leach pads is key step in the development of near-term antimony production scenario at the Project
  • A larger commercial gold-antimony opportunity could be advanced and developed in parallel to the historical leach pad opportunity, including drilling, metallurgical testwork, and the preparation of a Mineral Resource Estimate ("MRE") at Resurrection Ridge (including high-grade antimony Bullet Zone discovery made in 2025) and Cadillac Valley providing staged project development

• Antimony is one of the highest priority Critical Minerals due to its strategic importance and military applications; Limo Butte is a brownfield mine site located in the State of Nevada with near-surface, high-grade antimony mineralization in the historical leach pads

Limo Butte Planned 2026 Activities / Status Update
NevGold will continue its active exploration program at Limo Butte including:

• Evaluating the historical geological database with focus on gold and antimony (completed);

• Advancing metallurgical testwork (ongoing);

• Continuing to drill test gold-antimony targets (5,000 meters (30 drillholes) completed, a further 20,000 meters is planned in 2026 focused on the Bullet Zone and Armory Fault discoveries);

• Advancing the Crushed and Run of Mine ("ROM") leach pads to near-term antimony production (Drilling March-2026, MRE beginning of Q2-2026, ongoing metallurgical testwork);

• Completing initial gold-antimony Mineral Resource Estimate (MRE) (in progress).

Figure 1 - Resurrection Ridge target area with the Bullet Zone discovery. Figure includes completed drilling and identified expansion areas with the thrust faulted Upper Plate Dolomite. Red outline is previous mineralization footprint at Resurrection Ridge, with 2025 NevGold holes expanding mineralization significantly to the east.
To view image please click here

Figure 2 - Cross section with results from 2025 drilling. Light blue bar graphs (left) show Antimony (Sb ppm) in drilling, and yellow to red discs (right) show Gold (Au ppm) in drilling. Transparent drillholes are from prior to 2025, with many holes not analyzed for antimony. To view image please click here

Figure 3 - Picture of sonic drill rig drilling the historical Crushed leach pad with labels for the previously mined Golden Butte pit, Resurrection Ridge target area, and the historical Run-of-Mine leach pad.
To view image please click here

2025-2026 Drilling and Historical Re-Assay Results

*Downhole thickness reported; true width varies depending on drill hole dip and is approximately 70% to 90% of downhole thickness.
**The gold equivalents ("AuEq") are based on assumed metals prices of US$3,000/oz of gold and US$40,000 per tonne of antimony, and assumed metals recoveries of 80% for gold and 75% for antimony.

Drillhole Orientation Details

Importance of Antimony

Antimony is considered a "Critical Mineral" by the United States based on the U.S. Geological Survey's 2022 list (U.S.G.S. (2022)). "Critical Minerals" are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage.

Globally, approximately 90% of the world's current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense ("DOD") has designated antimony as a "Critical Mineral" due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.

Perpetua Resources Corp. ("Perpetua") has the most advanced domestic gold-antimony project in the United States. Perpetua's project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold's Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including technical development and permitting has led to US$75 million in Department of Defense ("DOD") awards, over $1.8 billion in indicative financing from the Export Import Bank of the United States ("US EXIM") (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025)), and recent strategic investments of US$180 million from Agnico-Eagle Mines Limited ("Agnico") and US$75 million from JPMorganChase's $1.5 trillion Security and Resiliency Initiative. (see Perpetua Resources News Release from October 27, 2025)

Figure 4 - Limousine Butte Land Holdings and District Exploration Activity To view image please click here

ON BEHALF OF THE BOARD

"Signed"

Brandon Bonifacio, President & CEO

For further information, please contact Brandon Bonifacio at bbonifacio@nev-gold.com, call 604-337-4997, or visit our website at www.nev-gold.com.

Sampling Methodology, Quality Control and Quality Assurance
NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. A 30g gold fire assay and multi-elemental analysis ICP-OES method was completed by ISO 17025 certified American Assay Labs, Reno.

The historic data collection chain of custody procedures and analytical results by previous operators appear adequate and were completed to industry standard practices. For the Newmont and US Gold data a 30g gold fire assay and multi-elemental analysis ICP-OES method MS-41 was completed by ISO 17025 certified ALS Chemex, Reno or Elko Nevada.

Technical information contained in this news release has been reviewed and approved by Greg French, CPG, the Company's Vice President, Exploration, who is NevGold's Qualified Person ("QP") under National Instrument 43-101 and responsible for technical matters of this release.

About the Company
NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Forward-looking statements include, but are not limited to, the proposed work programs at Limousine Butte, the exploration potential at Limousine Butte, and future potential project milestones such as the potential Mineral Resource Estimate ("MRE"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

References

Blackmon, D. (2021) Antimony: The Most Important Mineral You Never Heard Of. Article Prepared by Forbes.

Kurtenbach, E. (2024) China Bans Exports to US of Gallium, Germanium, Antimony in response to Chip Sanctions. Article Prepared by AP News.

Lv, A. and Munroe, T. (2024) China Bans Export of Critical Minerals to US as Trade Tensions Escalate. Article Prepared by Reuters.

Lv, A. and Jackson, L. (2025) China's Curbs on Exports of Strategic Minerals. Article Prepared by Reuters.

Perpetua Resources. (2025) Antimony Summary. Articles and Videos Prepared by Perpetua Resources.

Sangine, E. (2022) U.S. Geological Survey, Mineral Commodity Summaries, January 2023. Antimony Summary Report prepared by U.S.G.S

U.S.G.S. (2022) U.S. Geological Survey Releases 2022 List of Critical Minerals. Reported Prepared by U.S.G.S