Nevada Canyon Announces Significant Gold Intercepts at The Lapon Canyon Gold Project

Rhea-AI Summary

Nevada Canyon (OTCQX: NGLD) reported additional 2025 RC drill results from the Lapon Canyon gold project, where Walker River (100% owner) intersected multiple broad gold zones, including 3.05 g/t Au over 53.3 m (incl. 6.67 g/t over 18.3 m) and 1.49 g/t Au over 47.2 m (incl. 13.8 g/t over 1.5 m).

The release highlights discovery of intrusive-related mineralization hosted in monzonitic and granitic units, planned geophysical surveys to target deeper intrusives, and an initial NI 43-101 mineral resource expected in 2026. Nevada Canyon holds a $5M exploration stream earn-in for 50% and a 3% NSR, with >$1.4M spent to date.

Positive

• Wide gold intercept: 3.05 g/t Au over 53.3 m
• High-grade included: 6.67 g/t Au over 18.3 m
• Multiple broad zones: several intervals >40 m
• Evidence of intrusive-hosted system in monzonite/granite
• NI 43-101 resource targeted for 2026
• Company holds $5M earn-in and a 3% NSR; >$1.4M spent

Negative

• Many intercepts are moderate grade (around 1.0–1.5 g/t Au)
• Some holes show lower grades (e.g., 0.55 g/t Au over 16.8 m)
• Deeper intrusive targets remain untested and require geophysics
• Resource still pending; commercial scale and grade unconfirmed until NI 43-101

Key Figures

Exploration earn-in $5M Exploration Stream Earn-in Agreement for 50% of Lapon Canyon Project

Royalty interest 3% NSR Net Smelter Royalty on Lapon Canyon Project

Project spend to date over $1.4M Nevada Canyon spending at Lapon Canyon

Gold intercept 3.05 g/t Au over 53.3 m Hole LC-25-163, Hotspot zone extension

High-grade interval 6.67 g/t Au over 18.3 m Within LC-25-163 intercept

Gold intercept 1.49 g/t Au over 47.2 m Hole LC-25-162, Hotspot extensions

High-grade interval 13.8 g/t Au over 1.5 m Within LC-25-162 intercept

Gold intercept 1.74 g/t Au over 13.7 m Hole LC-25-158, deeper intrusive zone

Market Reality Check

$0.6250 Last Close

Volume Volume 8,702 vs 20-day average 14,762 (relative volume 0.59x) shows no notable pre-news accumulation. low

Technical Price $0.59 is below 200-day MA $0.89 and 77.04% under the 52-week high $2.57, trading close to the 52-week low $0.522.

Peers on Argus

NGLD was up 0.1% pre-news with mixed gold peers: some down (e.g., KDKGF -7.88%, KLKLF -2.14%) and others modestly up (BTLLF +3.16%) or flat. This suggests the setup was stock-specific rather than a broad gold-sector move.

Common Catalyst One peer, Ridgeline Minerals, also reported Nevada assay results, hinting at a localized exploration-news theme rather than a sector-wide rotation.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Oct 14	Drill results Lapon	Positive	+0.8%	High-grade gold intercepts and extended mineralization at Lapon Canyon Hotspot.
Oct 06	Drill results Lapon	Positive	+6.1%	Significant gold grades over broad intervals expanding Hotspot target area.
Jun 17	Asset sale Swales	Neutral	-4.0%	Sale of Swales Property for cash plus royalty within Carlin Trend.

Pattern Detected

Recent Lapon Canyon drill releases have generally seen positive price reactions, while a non-core asset sale drew a negative response, indicating the market has favored high-grade exploration updates.

Recent Company History

Over the last six months, Nevada Canyon has repeatedly highlighted Lapon Canyon drill success and portfolio adjustments. On Oct 6, 2025 and Oct 14, 2025, the company reported significant gold intercepts and growing mineralized footprints at Hotspot, with both events followed by positive price reactions of 6.06% and 0.77%. In contrast, the Jun 17, 2025 sale of the Swales Property, despite adding a 2% NSR, coincided with a -4% move, showing less favorable reception for divestiture versus strong drill catalysts.

Market Pulse Summary

The stock surged +11.9% in the session following this news. A strong positive reaction aligns with prior Lapon Canyon drill updates that saw favorable moves, such as the 6.06% gain on Oct 6, 2025. The latest results again show thick mineralized intervals, including 3.05 g/t Au over 53.3 m and high-grade sub-intervals. However, the stock had been trading 77.04% below its 52-week high and under the $0.89 200-day MA, so investors should weigh the historically weak technical backdrop when assessing durability.

Key Terms

reverse circulation technical

"release of additional drill results from the 2025 reverse circulation ("RC") drill program"

Reverse circulation is a drilling method used in mineral exploration where rock fragments are lifted to the surface inside an inner tube while drilling, keeping samples cleaner and faster than conventional techniques. Investors care because it provides quicker, more reliable samples for estimating how much mineral or ore might be present, reduces exploration costs and drilling time, and therefore can speed up or improve the quality of resource assessments that drive project value.

net smelter royalty financial

"and holds a 3% Net Smelter Royalty ("NSR")."

A net smelter royalty (NSR) is a contractual payment to the holder of mineral rights equal to a fixed percentage of the revenue from the sale of mined metals after they have been processed and basic costs like smelting and transport are deducted. Think of it as a toll on each shipment of metal: it reduces the operator’s take from production but provides the royalty holder with a steady, production-linked income stream that investors use to value both mines and royalty assets.

monzonite porphyry system technical

"suggests the potential for a monzonite porphyry system- deposit types that are associated"

A monzonite porphyry system is a large, deep-seated mineral deposit formed when porphyritic monzonite magma intrudes and chemically alters surrounding rock, creating a widespread, low- to medium-grade body of metal-bearing rock. For investors, it matters because these systems often host bulk-minable concentrations of copper, gold, molybdenum and other valuable metals — like a low-grade but huge ore “pan” that can support long-lived, large-scale mining operations with economies of scale.

geophysical surveys technical

"geophysical surveys are being planned to help identify future drill targets"

Geophysical surveys are non-invasive tests that use tools like sound waves, magnets, or electrical signals to map what lies beneath the ground without digging. Think of it as an ultrasound or metal detector for large areas: it reveals hidden structures, rock types, or buried resources. Investors care because these surveys help estimate where valuable minerals, oil, gas, or groundwater might be, reducing exploration uncertainty, cost and risk before costly drilling or mining begins.

ni 43-101 compliant resource regulatory

"basis of a NI 43-101 compliant resource that is expected sometime in 2026"

A NI 43-101 compliant resource is a mineral deposit estimate prepared under Canadian securities rules that requires a qualified, independent expert to use standardized methods and disclose assumptions, data and uncertainty. For investors it acts like a certified inspection report for a property: it gives a consistent, transparent assessment of how much mineral material may be present and how reliable that estimate is, helping compare projects and judge risk.

fire assay technical

"analyzed for gold using fire assay fusion and a 50 g gravimetric finish."

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

gravimetric finish technical

"using fire assay fusion and a 50 g gravimetric finish."

A gravimetric finish is a precise way of measuring the final weight of a product or material after processing or manufacturing. It ensures that the final amount meets exact standards, similar to weighing ingredients carefully in cooking. For investors, it indicates attention to quality control and consistency, which can impact a company's reputation and product reliability.

qualified person regulatory

"approved by Dave Nuttal P.Geo... an independent Qualified Person as defined under NI 43-101"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

AI-generated analysis. Not financial advice.

Reno, Nevada--(Newsfile Corp. - December 11, 2025) - Nevada Canyon Gold Corp. (OTCQX: NGLD) (the "Company" or "Nevada Canyon") is pleased to announce the release of additional drill results from the 2025 reverse circulation ("RC") drill program on the Lapon Canyon Gold Project, (the "Project" or "Lapon Canyon"), by Walker River Resources Corp ("Walker River") (see WRR news release Dec. 11, 2025). Lapon Canyon is 100% owned by Walker River and located within the prolific Walker Lane gold trend in Nevada, 40 miles southeast of Yerington NV. Nevada Canyon has an $5M Exploration Stream Earn-in Agreement for 50% of the Project (see Company news release Feb. 3, 2025) and holds a 3% Net Smelter Royalty ("NSR"). Spending at Lapon Canyon by the Company is over $1.4M to date.

Walker River reported that the 2025 drill programs have resulted in the discovery of intrusive related gold mineralization at Lapon Canyon significantly increasing the size potential of the Project with much wider gold intercepts, prior drill programs had returned higher grade narrower intercepts. This discovery indicates a high potential for significant gold emplacement within new deeper-seated rock units. To advance the understanding of these zones, geophysical surveys are being planned to help identify future drill targets in the deeper-seated intrusive bodies.

Highlights:

Results from drilling on the new upper drill roads continue to confirm and extend gold mineralization to the south and the east of the Hotspot zone, results include:

• 3.05 g/t Au over 53.3 m starting at 117.4 m, including 6.67 g/t Au over 18.3 m in hole LC-25-163
• 1.49 g/t Au over 47.2 m starting at 86.9 m, including 13.8 g/t Au over 1.5 m in hole LC-25-162
• 1.14 g/t Au over 45.7 m starting at 88.4 m in hole LC-25-159
• 1.05 g/t Au over 29.0 m starting at 111.3 m in hole LC-25-161
• 1.01 g/t Au over 54.8 m starting at 105.2 m in hole LC-25-164
• 1.03 g/t Au over 45.7 m starting at 79.3 m in hole LC-25-165
• 0.98 g/t Au over 19.8 m starting at 94.5 m in hole LC-25-157 where the gold mineralization is within granite, which is notable.

Walker River also reported it was notable that the gold encountered in drillholes LC-25-158 to 165 is contained within monzonitic units. The presence of monzonite as the host rock suggests the potential for a monzonite porphyry system- deposit types that are associated with very large gold and copper bearing systems in Nevada. The increased presence of copper from the multi-element Geochem sampling program also supports this interpretation.

"Results from the 2025 exploration campaign have been much better than anticipated. We have additional results pending and are already planning a geophysical survey to identify the drill targets into the deep-seated rock units for our next drilling campaign. The excitement for the potential of this project is really growing," commented Lisa Doddridge, President and Director of the Company. "All the work at the Project continues to confirm the potential for large scale mineralization and the potential value of Lapon Canyon. Drilling to date will be the basis of a NI 43-101 compliant resource that is expected sometime in 2026, the first major milestone for the Project."

The 2025 drill program at Lapon Canyon focused on exploration and resource definition, at the existing Hotspot deposit and the extensions of the deposit along strike and down dip. This drilling at Hotspot has significantly expanded the footprint of gold mineralization to the south and the east. Both historical and current drill results continue to indicate that the gold system is predominantly sub-horizontal to moderately south-dipping in geometry, with evidence suggesting the presence of more steeply dipping, high-grade shoots developed within the broader mineralized zones.

Other significant results can be found in Table 1 Below:

	From	To	Width*	Gold	Notes:
Drill Hole	(m)	(m)	(m)	(g/t)
LC-25-157	94.5	114.3	19.8	0.98	granite
LC-25-158	202.7	216.4	13.7	1.74
Incl	208.8	210.3	1.5	12.10
LC-25-159	88.4	134.1	45.7	1.14
LC-25-160	160.0	176.8	16.8	0.55
LC-25-161	111.3	140.2	29.0	1.05
LC-25-162	86.9	134.1	47.2	1.49
incl	102.1	103.6	1.5	13.8
LC-25-163	117.4	170.7	53.3	3.05
incl	135.6	153.9	18.3	6.67
LC-25-164	105.2	160.0	54.8	1.01
LC-25-165	79.3	124.9	45.7	1.03

 

Table 1. Drill Results
*Sampled width is presented. True width is estimated to be between 75 and 95 percent of sampled widths

Figure 1. Plan map of the Lapon Gold deposit, showing the Central and Hotspot zones with historic and 2025 drilling results and contours for 0.1 - 1.0 g/t Au (yellow) and 1.0 - 10.0 g/t Au (magenta).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5055/277577_c1211c9dc4d8d802_002full.jpg

Figure 2. Cross-section of the Lapon Gold deposit at Hotspot, showing historic and 2025 drilling results with highlights of intervals from this release and contours for 0.1 - 1.0 g/t Au (yellow) and 1.0 - 10.0 g/t Au (red).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5055/277577_c1211c9dc4d8d802_003full.jpg

Results from previous and current (2025) drill programs, including results not yet received, will be the basis for the completion of an initial NI 43-101 compliant mineral resource on the Project, which is expected to be complete sometime in 2026. In addition, work will continue at Lapon Canyon to identify future drill targets in the deeper-seated intrusive bodies, using geophysical surveys, geological mapping and sampling. Further drill results will be released as they become available.

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance
All sampling was conducted under the supervision of the Company's project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. A blank or certified reference material was inserted approximately every tenth sample. The Lapon Canyon samples were delivered to American Assays Laboratories' certified laboratory facilities in Sparks, NV. The samples were crushed, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50 g gravimetric finish. Certain intensely altered samples used a 1 kg pulp screened to 100 microns. Duplicate assay on screen undersize. Assay of entire oversize fraction.

Samples are taken and bagged directly at the drill rig at every 1.5-meter interval, standard in the exploration industry. A small sample is also taken at the drill rig and put into a chip tray for examination purposes and to determine those sample bags that should be sent to the lab for assay purposes. Often this work is carried out using a microscope for the examination of the rock chips. The full sample bag from the interval chosen for assay purposes is then sent directly from the drill site to the lab, located in Sparks, NV.

The scientific and technical information contained in this news release has been reviewed, verified and approved by Dave Nuttal P.Geo, President of Geo Exploration Ltd, who is an independent Qualified Person as defined under NI 43-101 Standards of Disclosure for Mineral Projects.

About the Lapon Canyon Project
Lapon Canyon hosts historical, high grade gold mining with approximately 2,000 feet of underground workings in three adits. Historical underground work returned numerous assay values in the one-ounce-per-ton range. (NI 43-101, Montgomery and Barr, 2004). Walker River has completed considerable exploration work to date, with numerous drill hole intercepts that have indicated significant gold mineralization. The Project is located within Nevada's Prolific Walker Lane shear zone, easily accessible by secondary state roads, located approximately 40 miles southeast of Yerington, Nevada. A state power grid transmission line passes within 2 miles of the Project.

About Nevada Canyon Gold Corp.
Nevada Canyon Gold Corp. is a US-based natural resource company headquartered in Reno, Nevada. The Company has a large, strategic land position and royalties in multiple projects, within some of Nevada's highest-grade historical mining districts, offering year-round access and good infrastructure in proven and active mining districts. The Company has a three-fold business model; i) mineral royalty creation and acquisition; ii) precious-metals and exploration streaming & financing; and iii) exploration project accelerator.

For further information please contact:
Corporate Communications
Larry Heuchert
Tel: 1-888-909-5548 Ext. 2
Email: ir@nevadacanyongold.com
Web: www.nevadacanyongold.com

Forward-Looking Statements
The information posted in this release may contain forward-looking statements. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of exploration, delays in completing various engineering and exploration programs, and any potential results from such programs. Specifically, forward-looking statements in this news release include statements with respect to the potential mineralization and geological merits of the Company properties, its royalties owned on properties and various other factors beyond the Nevada Canyon Gold Corp.'s control. The Company's actual results could differ materially from those discussed in this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities legislation. Investors are advised to carefully review the reports and documents that Nevada Canyon Gold Corp. files from time to time with the SEC, including its Annual Form 10K for the fiscal year ended December 31, 2024, Quarterly Reports and Current Reports.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277577

FAQ

What were the headline drill results announced for Lapon Canyon on December 11, 2025 (NGLD)?

Highlights include 3.05 g/t Au over 53.3 m (incl. 6.67 g/t over 18.3 m) and 1.49 g/t Au over 47.2 m from 2025 RC drilling.

How does the 2025 drilling change the geological model at Lapon Canyon (NGLD)?

Drilling identified intrusive-related mineralization in monzonitic and granitic units, suggesting potential deeper-seated intrusive systems.

When will Nevada Canyon (NGLD) report a NI 43-101 mineral resource for Lapon Canyon?

The company expects to complete an initial NI 43-101 mineral resource in 2026.

What ownership and royalty rights does Nevada Canyon hold on Lapon Canyon (NGLD)?

Nevada Canyon has a $5M exploration stream earn-in for 50% of the project and retains a 3% NSR; >$1.4M has been spent to date.

Will there be follow-up exploration after the December 2025 results for Lapon Canyon (NGLD)?

Yes; geophysical surveys, mapping and further drilling are planned to target deeper intrusive bodies and future drill targets.