Mr. David Cam reports

NVRO ANNOUNCES MANAGEMENT CHANGES AND PROVIDES AN UPDATE ON ITS PROPRIETARY LEACHING TECHNOLOGY COMMERCIALIZATION

Envirogold Global Ltd. has made changes to its board of directors and senior leadership team.

Management changes

The company announces the resignation of Malcolm Smith as chief executive officer and member of the board of directors. The company thanks Mr. Smith for his support of the company.

The company is pleased to announce the reappointment of David Cam as chief executive officer. Mr. Cam was the founder of Envirogold Global and is an executive director. He has significant experience in bringing complex technologies to market, developing execution strategies, and creating shareholder value.

Following this announcement, Envirogold's board remains unchanged with six continuing members that include four independent members, including independent chair Allan Bezanson.

Technology update

Following the successful completion of the small-scale pilot plant which tested materials from the Hellyer mine operation at the ALS laboratory in Perth, Western Australia, in June, 2023, the company has focused on working in partnerships with major mining companies, including the BHP Think and Act Differently program (TAD).

Over the last several months, Hellyer Gold Mines Pty. Ltd. (HGM) has been working on the required commercial consents and this effort is continuing. These consents are needed to enable the construction and operation of the company's proposed full-scale plant considered at the Hellyer mine. The management of HGM has done a thorough review of Envirogold and the opportunity between the companies and on that basis HGM is expected to accelerate the consent process. Envirogold has refocused on building a cost-effective, mobile, modular, small-scale plant at Hellyer mine to allow the acid recycling process and gas handling aspects of the company's patented technology to be further optimized with a view to enabling the start of commercial production.

The board has recently undertaken a review of the company's core acid leach technology to estimate the likely investment needed to fully optimize the acid recycling and gas scrubbing steps in the process. This proprietary technology is subject to additional intellectual property applications by the company so more details cannot be publicly disclosed at this time. The company's technical leadership are confident that further optimization of the proposed plant will demonstrate the technical and commercial viability of the technology and applicability to reprocess a wide range of VMS tailings worldwide.

The company is presently seeking further funding to meet the expected costs of the proposed Hellyer pilot plant, plus running and associated costs, to ensure the company is adequately financed for the next stage of commercialization of the technology. Under Mr. Cam's leadership, the company will provide regular updates to the market, including a presentation and Q&A session at the AGM in May, 2024.

Mr. Cam said, "I am excited to be back at the helm of the company I founded and to oversee the final optimization and commercialization of the excellent work of the company's in house technical team, that will, upon completion offer global mining companies an opportunity to create value from mine waste and reduce their environmental liabilities."

Other work streams

The company's current workstreams, financed through partnerships with major mining companies, including the BHP TAD program, is continuing and the company's leach and associated technologies is being applied to those waste streams to provide an economic, potentially valuable method of waste reclamation and environmental remediation. Recent test results demonstrate high recoveries of targeted metals and will be further reported on in the coming weeks.

We seek Safe Harbor.