Mr. Brandon Bonifacio reports

NEVGOLD ANNOUNCES CLOSING OF C$10M BROKERED PRIVATE PLACEMENT FINANCING

Nevgold Corp. has closed its previously announced brokered private placement financing of units for gross proceeds of $10-million. Each unit, priced at 65 cents per unit, consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of 90 cents until Nov. 19, 2027. The warrants are subject to a restriction on exercise that expires on Jan. 19, 2026. Clarus Securities Inc. was sole agent and bookrunner for the offering.

Nevgold chief executive officer Brandon Bonifacio commented: "We are pleased to announce the closing of our $10-million financing, which provides the company with a strong financial position to continue to advance its portfolio of assets. We remain focused on progressing the emerging gold-antimony Limousine Butte project in Nevada after the significant high-grade antimony discovery made at the Bullet zone released on Oct. 16, 2025. We strongly believe that we have one of the most advanced gold-antimony assets in the United States, and the timing is optimal as there is a clear commitment from the government to advance high-quality, domestic critical mineral projects. We will also continue to advance our efforts in Idaho at the resource-stage Nutmeg Mountain gold project and the highly prospective Zeus copper project. The strongly supported financing is a testament to the growing Nevgold platform. We are thankful to our existing and new shareholders and Clarus Securities on the successful offering."

The company issued an aggregate of 15,384,614 units at a price of 65 cents per unit pursuant to the offering. The company intends to use the net proceeds of the offering for advancing its Limousine Butte gold-antimony project (Nevada), Nutmeg Mountain gold project (Idaho), Zeus copper project (Idaho), working capital and general corporate purposes, as further described in the company's offering document under the listed issuer financing exemption dated Nov. 6, 2025, which is filed on the company's profile at SEDAR+ and on the company's website.

The offering was conducted pursuant to the terms of an agency agreement between the company and the agent dated Nov. 19, 2025. In connection with the offering, the agent received a cash commission of $700,000 and 1,076,922 non-transferable compensation options on the gross proceeds of the offering. Each compensation option will entitle the holder thereof to acquire one common share at an exercise price of 65 cents until Nov. 19, 2027.

The offering was completed pursuant to the listed issuer financing exemption in accordance with National Instrument 45-106 (Prospectus Exemptions) and the Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption), and the securities issued to purchasers in the offering are not subject to a hold period pursuant to applicable Canadian securities laws. The compensation options and the securities issuable on exercise thereof are subject to a hold period expiring on March 20, 2026, in accordance with applicable Canadian securities laws. The offering is subject to the final approval of the TSX Venture Exchange.

About Nevgold Corp.

Nevgold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. Nevgold owns a 100-per-cent 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.

We seek Safe Harbor.