NevGold Intercepts Strongest Result To Date in 2026: 8.28 g/t Oxide Au Over 3.0 Meters Within 1.73 g/t Oxide Au Over 45.7 Meters

Assays remain pending from 54 holes as NevGold advances a preliminary economic assessment targeted for Q1-2027.

Rhea-AI Summary

NevGold (NAUFF) reported additional oxide gold-antimony drill results extending mineralization at its Limousine Butte project in Nevada, inside and outside the resource pit boundary. Hole LB26-009 returned 8.28 grams of gold per tonne over 3.0 meters within 1.73 grams per tonne over 45.7 meters. Its upper zone returned 0.18% antimony over 50.3 meters. LB26-017 returned 1.27 grams per tonne gold equivalent over 48.8 meters.

Approximately 16,000 meters across 70 holes are complete, with assays pending from 54 holes against a targeted 20,000-meter program. NevGold reports drilling is on schedule and under budget, with more than $42 million in treasury. A preliminary economic assessment is targeted for Q1-2027; metallurgical testing and early permitting are underway. Separately, NevGold clarified historical marketing payments, including a final Machai fee of $661,500 versus $350,000 previously disclosed.

12 points · 0 major

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Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointTreasury exceeds $42 million for project development and growth strategy execution.
• Minor pointLB26-009 lower zone returned 1.73 g/t gold over 45.7 meters, including 8.28 g/t over 3.0 meters.
• Minor pointLB26-009 upper zone returned 0.18% antimony over 50.3 meters, including 1.19% over 3.0 meters.
• Minor pointLB26-017 returned 1.27 g/t gold equivalent over 48.8 meters, including 3.13 g/t over 12.2 meters.
• Minor pointLB26-019 returned 0.39 g/t gold equivalent over 105.2 meters.

7 minor points

• Minor pointLB26-025 returned 0.22% antimony over 9.1 meters and, separately, 0.27 g/t gold over 10.7 meters.
• Minor pointDrilling extended mineralization inside and outside the July 2026 resource pit boundary.
• Minor pointDrilling completed approximately 16,000 meters across 70 holes; NevGold reports it is on schedule and under budget.
• Minor point. Forward-looking: it has not happened yet and may not happen.NevGold plans approximately 20,000 meters of 2026 drilling focused on discoveries and resource conversion.
• Minor point. Forward-looking: it has not happened yet and may not happen.Preliminary economic assessment is advancing, with completion targeted for Q1-2027.
• Minor pointMetallurgical testing and early permitting for future operations are underway.
• Minor pointPreserved host rock extends more than one kilometer east of prior Resurrection Ridge drilling.

Negative

• Minor pointMachai's final marketing fee was $661,500, paid in full, versus $350,000 previously disclosed.
• Minor pointAltura's two agreements cost $105,250 in total payments.
• Minor pointMachai's separate 2021 marketing agreement cost $18,000 over six months.
• Minor pointMachai and Altura engagements remain subject to TSX Venture Exchange approval.
• Minor point. Forward-looking: it has not happened yet and may not happen.Early permitting depends on advancement of the engineering study.

News Explained

NevGold corrects its earlier disclosure: Altura’s marketing-services contract was for six months, not three, and ended on September 30, 2025; the company paid $100,250 under it plus $5,000 for separate two-week consulting, for total Altura fees of $105,250, subject to TSX Venture Exchange approval.

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Vancouver, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce additional oxide gold-antimony assays from the 2026 drill program at its Limousine Butte Project (the “Project”, “Limo Butte”) in Nevada. These results have continued to extend high-grade mineralization on the eastern side of the Resurrection Ridge resource, adding significant mineralization potential both inside and outside of the 2026 Mineral Resource Estimate (“MRE”) pit-shell released on July 15, 2026 (see News Release).

NevGold CEO, Brandon Bonifacio, comments: “The 2026 drill program at Limo Butte continues to deliver exceptional results, expanding mineralization beyond the boundaries of the current resource and supporting our objective of growing both the scale and quality of the 2026 MRE released in July. We are particularly encouraged by the consistency of high-grade oxide gold-antimony mineralization encountered on the eastern side of the Resurrection Ridge resource area. Hole LB26-009 was the strongest hole to date from our 2026 program intercepting grade up to 14.50 g/t oxide Au, with larger intervals of 8.28 g/t oxide Au over 3.0 meters within 1.73 g/t oxide Au over 45.7 meters. The program remains on schedule and under budget, with approximately 16,000 meters completed across 70 holes, and assays pending from 54 additional holes. The combination of exceptional results received, a substantial volume of assays still pending, and increasing confidence in our geological model reinforces our belief that Limo Butte is emerging as one of the most significant gold-antimony development projects in the United States.”

Key Highlights

• Strongest result to date from 2026 drill program; intercepts more high-grade oxide gold-antimony expanding mineralization both inside and outside of 2026 MRE pit-shell:

• • LB26-009 Lower Zone (expansion inside of 2026 pit-shell): 8.28 g/t Au over 3.0 meters within 1.73 g/t Au over 45.7 meters; highest grade drilled in 2026 with up to 14.50 g/t oxide Au
  • LB26-009 Upper Zone (expansion inside of 2026 pit-shell): 0.45% Sb over 10.7 meters within 0.18% Sb over 50.3 meters
  • LB26-017 (expansion inside and outside of 2026 pit-shell): 3.13 g/t AuEq over 12.2 meters (1.19 g/t Au, 0.50% Sb) within 1.27 g/t AuEq over 48.8 meters (0.37 g/t Au, 0.23% Sb)

• +$42 million in treasury focused on project development and growth strategy execution

• 70 holes completed, 54 holes with assays pending after this News Release

• • Approximately 16,000 meters completed of targeted 20,000 meters

• Advancing Preliminary Economic Assessment (“PEA”) Engineering Study at Limo Butte with targeted completion Q1-2027

Limo Butte Planned 2026-2027 Activities / Status Update

NevGold will continue its active work programs at Limo Butte including:

• Continuing to drill test gold-antimony targets (~20,000 meters is planned in 2026 focused on the Bullet Zone / Armory Fault discoveries and resource conversion);

• Advancing metallurgical testwork (ongoing);

• Advancing PEA Engineering Study (in process, targeted completion Q1-2027);

• Commencing early permitting for future operations (in process; key driver of permitting is advancement of Engineering Study)

Figure 1 – Resurrection Ridge resource area with completed 2026 drilling. Figure includes outline of 2026 AuEq. resource pit-shell, priority expansion area for ongoing 2026 drilling, and intercepts for completed 2026 drilling. Ongoing road and pad construction efforts are also shown, highlighting focused efforts to expand Au and Sb mineralization to the east under the dolomite thrust. To view image please click here

Figure 2 – Section with Au values from 2026 MRE block model and Au intercepts from all drilling along section completed by NevGold in 2025-2026 drill programs. The 2026 drill program has expanded oxide gold-antimony mineralization both inside and outside of the recently announced 2026 MRE pit-shell. Figure also highlights pre-2025 drilling to the west, and NevGold 2025-2026 drilling focus to the east. To view image please click here

2026 Drilling Results – Resurrection Ridge

Hole ID	Length, m*	g/t Au***	% Sb***	g/t AuEq**	From, m	To, m
LB26-009 Upper	50.3	-	0.18%	-	7.6	57.9
including	10.7	-	0.45%	-	36.6	47.2
also including	3.0	-	1.19%	-	42.7	45.7
LB26-009 Lower	82.3	1.04	0.06%	1.26	167.6	249.9
including	45.7	1.73	0.07%	2.02	178.3	224.0
also including	3.0	8.28	0.06%	8.50	214.9	217.9
also including	1.5	14.50	0.08%	14.82	214.9	216.4
LB26-017	76.2	0.27	0.17%	0.92	16.8	100.6
including	48.8	0.37	0.23%	1.27	44.2	100.6
also including	12.2	1.19	0.50%	3.13	45.7	57.9
LB26-019	105.2	0.19	0.05%	0.39	48.8	153.9
including	15.2	0.31	-	0.31	48.8	64.0
also including	6.1	0.20	0.29%	1.33	103.6	109.7
LB26-025	9.1	-	0.22%	-	89.9	99.1
LB26-025	10.7	0.27	-	0.27	106.7	117.3

*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.
***Values less than 0.10 g/t Au and 0.05% Sb not included.

Drillhole Orientation Details

Hole ID	Target Zone	Easting	Northing	Elevation (m)	Length (m)	Azimuth	Dip
LB26-009	RR	667173	4417250	2189	288	210	-60
LB26-017	RR	667331	4417292	2238	229	105	-70
LB26-019	RR	667285	4417221	2252	239	110	-70
LB26-025	RR	667231	4417151	2253	244	95	-60

NevGold Geological Model Summary
The Devonian Pilot Shale (“Pilot Shale”, “Pilot”) is the principal local host to Carlin-type mineralization at Limousine Butte. At Limousine Butte, positive gold grades commonly coincide with silicification and jasperoid breccias within the Pilot Shale, and this alteration style is also host to elevated antimony.

NevGold’s 2021–2025 work included integrating historical drilling, new mapping, and surface sampling which produced an updated district model and refined property-wide controls on mineralization. At Resurrection Ridge, Devonian–Silurian dolomite is exposed immediately east of known gold-antimony mineralization. Earlier explorers inferred that the overlying Pilot Shale had been eroded in this area, and they did not test eastward, despite shallow high-grade intercepts in the easternmost holes drilled at Resurrection Ridge. The new model indicates the older dolomite was thrust over the prospective Pilot Shale unit (see Figure 5), creating structural preparation and a fluid trap that preserves the favorable host at depth, the classic architecture for a Carlin-type system.
The 2025-2026 drill programs have validated the new NevGold geological model at the Project. Holes collared in dolomite, passed through the upper thrust plate, and intersected gold and antimony at multiple horizons within the underlying Pilot Shale validating the new geological model and materially expanding the potential mineralization footprint at the Project.

The preserved Pilot Shale extends more than one kilometer east of prior drilling at Resurrection Ridge (see Figure 3 and Figure 4).

Figure 3 – Comparison of historical geological model (left) and new NevGold geological model (right) outlining the thesis that the older dolomite unit was thrust over the prospective Pilot Shale unit. The preserved Pilot Shale unit extends more than 1 kilometer east of prior drilling at Resurrection Ridge. To view image please click here

Property-wide, the updated model outlines multiple Au–Sb target corridors that track outcrops and projected subsurface positions of the Pilot Shale, where repeated faulting and thrusting provided fluid pathways and focused mineralization. NevGold’s 2026 drill program will continue to test these high-priority targets (see Figure 4).

Figure 4 – Cross section outlining the pre-2025 mineralization footprint at Resurrection Ridge, 2025 expansion area including the discovery of the Bullet Zone on the eastern side of Resurrection Ridge, and the key focus of further 2026 expansion. To view image please click here

Together, these datasets support a district-scale interpretation in which thrust repetition preserves the Pilot Shale at depth east of Resurrection Ridge and focuses Au–Sb mineralization along structurally prepared horizons, establishing multiple high-priority targets for step-out drilling and follow-up work.

Figure 5 – Limo Butte Project and identified target areas. A number of high priority targets have been defined focused on resource conversion, resource expansion, and new discoveries across the large, consolidated ~70 square kilometer (7,000 hectares) land package. NevGold maintains a continuous drill target pipeline at the Project, which will be advanced with the largest targeted drill program (~20,000 meters) that the Company has drilled since acquiring Limo Butte in 2021. To view image please click here

Figure 6 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here

Investor Relations Providers
The Company wishes to clarify disclosure regarding its previous engagement of investor relations providers in its press releases dated June 3, 2025 and June 4, 2025 (collectively, the “June 2025 Press Releases”).

The June 2025 Press Releases disclosed that the Company entered into the digital marketing services agreement dated May 26, 2025 with Altura Media Co Inc. (“Altura”) in which Altura provided a comprehensive suite of investor relations services to the Company. The June 2025 Press Releases incorrectly referred to a “three-month term” when it should have referred to a “six-month term” that commenced on June 9, 2025, as provided in the digital marketing services agreement. The fees for the digital marketing services were originally priced at $145,000. The Company terminated the digital marketing services agreement with Altura prior to the end of the six-month term on September 30, 2025 and only paid a total of $100,250 to Altura under that agreement. The June 2025 Press Releases did not disclose that the Company and Altura had also entered into the consulting agreement dated May 26, 2025 in which Altura provided pre-marketing campaign consulting services to the Company for a two-week period for $5,000 that commenced on May 26, 2025. Accordingly, the total fees paid to Altura under both agreements was $105,250.

In addition, the Company engaged Machai Capital Inc. (“Machai”) to provide marketing services to the Company for a two-month term that commenced on June 1, 2025. While the June 2025 Press Releases disclosed fees of $350,000 to be paid to Machai, the parties subsequently negotiated a final fee of $661,500 for the marketing services, which had been paid in full to Machai. The Company’s initial engagement of Machai began in June, 2021 in which the Company and Machai entered into a digital marketing services agreement dated June 14, 2021. Under the digital marketing services agreement, Machai provided branding, content and data optimization to assist with the creation of marketing campaigns for the Company for a six-month term. Machai also assisted with tracking and organizing the creation of marketing campaigns through search engine optimization, search engine marketing, lead generation, digital marketing, social media marketing, email marketing and brand marketing. The Company paid Machai a fee of $3,000 per month for a total of $18,000 pursuant to the digital marketing services agreement dated June 14, 2021.

The services provided by Machai were rendered by Suneal Sandhu. The services provided by Altura were rendered by Luis Matthias Campos. The Company’s engagements with Machai and Altura are subject to the approval of the TSX Venture Exchange. See the June 2025 Press Releases for further information.

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.

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 dedicated to discovering, de-risking, and rapidly advancing gold and critical metals projects across premier jurisdictions in Nevada and Idaho to drive shareholder value and strengthen US mineral security. The Company holds a 100% interest in the Limousine Butte (gold-antimony) and Cedar Wash (gold) projects in Nevada, and the Nutmeg Mountain (gold) and Zeus (copper) projects in Idaho. For more information, please visit www.nev-gold.com.

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, the expansion of the  recently announced MRE at Limo Butte, and future potential project milestones such as the Preliminary Economic Assessment (“PEA”). 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What gold results did NevGold report from hole LB26-009 at Limousine Butte?

LB26-009 returned 8.28 g/t oxide gold over 3.0 meters within 1.73 g/t over 45.7 meters. The narrower interval included 14.50 g/t gold over 1.5 meters. These are downhole lengths, not true widths.

When does NevGold expect to complete the Limousine Butte preliminary economic assessment?

NevGold targets Q1-2027 completion of the preliminary economic assessment. The study is in progress, alongside ongoing metallurgical testing and early permitting for future operations.

What assumptions underpin NevGold's Limousine Butte gold-equivalent drill results?

Gold-equivalent values use assumed prices of US$3,000 per ounce of gold and US$40,000 per tonne of antimony, with assumed recoveries of 80% for gold and 75% for antimony. Gold equivalent expresses the combined metal content using those assumptions.

How do NevGold's reported drill lengths compare with true mineralized widths?

True widths are approximately 70% to 90% of the reported downhole thicknesses and vary with drill-hole dip. The reported assay intervals therefore do not represent true widths.

What did NevGold clarify about its Altura marketing agreements?

Altura's digital marketing agreement had a six-month term beginning June 9, 2025, rather than the previously disclosed three months. NevGold terminated it on September 30, 2025, paying $100,250 against an original $145,000 price. A separate two-week consulting agreement beginning May 26, 2025 cost $5,000.