NEVADA CANYON COMPLETES SALE OF SWALES PROPERTY

Rhea-AI Summary

Nevada Canyon Gold Corp. has sold its Swales Gold Property Exploration Lease to Metals One Nevada Inc., a subsidiary of Metals One Plc. The deal includes 139 unpatented mining claims covering approximately 2,780 acres in Elko County, Nevada. The transaction consists of a US$100,000 cash payment and a 2% net smelter royalty for Nevada Canyon. The Swales Property is strategically located within the prolific Carlin Trend, situated 13 miles northeast of the Gold Quarry Mine and 16 miles east southeast of the Goldstrike Mine. The Carlin Trend is one of the world's richest mining regions, hosting eight producing gold mines that have yielded over 100 million ounces of gold and maintain reserves exceeding 21 million ounces.

Positive

• Immediate cash infusion of US$100,000 from the sale
• Retained 2% net smelter royalty on all 139 mining claims
• Property located in strategic Carlin Trend area with proven gold production history
• Project has year-round access and infrastructure advantages

Negative

• Loss of direct ownership and control over the Swales Property
• Dependence on Metals One's success for future royalty revenues

Reno, Nevada, June 17, 2025 (GLOBE NEWSWIRE) -- Nevada Canyon Gold Corp. (OTCQX Markets: NGLD) (The “Company” or “Nevada Canyon”) is pleased to announce the execution of an Asset Purchase Agreement ("APA") with Metals One Nevada Inc., a wholly owned subsidiary of Metals One Plc. (“Metals One”) for the Swales Gold Property Exploration Lease and Option to Purchase Agreement (the "Swales Lease"), located in Elko County, Nevada.

Pursuant to the APA between Nevada Canyon and Metals One, Metals One has acquired the Swales lease, originally consisting of 40 unpatented mining claims. An additional 99 unpatented mining claims have been added to the Swales Lease by Metals One, for a total combined area of approximately 2780 acres and 139 unpatented mining claims. Total consideration for the APA of the Swales Lease comprised of a US$100,000 cash payment (paid) and the grant of a 2% net smelter royalty to Nevada Canyon on the combined 139 unpatented mining claims.

The Swales Property is located within the Carlin Trend, one of the richest mining trends in the world, and home to some of the largest gold mines in the US. The property is approximately 13 miles northeast of Nevada Gold Mine’s Gold Quarry Mine and 16 miles east southeast of Nevada Gold Mine’s Goldstrike Mine, all of which are located along the gold rich Carlin Trend. There are currently eight producing gold mines within the Carlin Trend. Collectively, these mines have to date produced over 100 million ounces of gold (Nevada Bureau of Mines 2019) and still contain more than 21 million ounces of gold reserves. (Nevada Gold Mines, LLC Carlin Complex 2020) The project has excellent year-round access and infrastructure within Elko County, one of the most pro-mining County’s and gold trends of Nevada.

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.

FAQ

What did Nevada Canyon Gold Corp (NGLD) receive for selling the Swales Property?

Nevada Canyon received US$100,000 in cash and a 2% net smelter royalty on 139 unpatented mining claims.

Where is the Swales Property located and why is it significant?

The property is located in the Carlin Trend, Elko County, Nevada, 13 miles northeast of Gold Quarry Mine and 16 miles from Goldstrike Mine. The Carlin Trend is one of the world's richest mining regions with over 100 million ounces of gold produced.

How many mining claims are included in the NGLD Swales Property sale?

The sale includes 139 unpatented mining claims total, comprising the original 40 claims plus 99 additional claims added by Metals One, covering approximately 2,780 acres.

What is the current gold production status of the Carlin Trend where NGLD's former property is located?

The Carlin Trend currently has eight producing gold mines with historical production of over 100 million ounces and remaining reserves of more than 21 million ounces of gold.