Mr. John Watson reports

NV GOLD ANNOUNCES DRILL RESULTS AT SLUMBER, INCLUDING 28.95 M OF 0.433 P/T GOLD IN STEP OUT RC HOLE, OVER 1.5 KILOMETERS NORTH OF KNOWN GOLD HOSTING ZONE

NV Gold Corp. has provided an update on new drill results from its 100-per-cent-owned Slumber gold project, located 80 kilometres (km) (50 miles) west-northwest of Winnemucca and 37 km (23 miles) west of the Sleeper gold deposit in Humboldt county. The June, 2025, reverse circulation (RC) drilling campaign completed five drill holes, totalling 964.7 metres (m) (3,165 feet (ft)). The drill holes were completed to test surface mercury vapour anomalies away from previously known gold hosting zones.

The 2025 drilling campaign successfully tested mercury vapour anomalies and identified an extension of the known oxide gold mineralization at least 1.5 km north of the previously reverse circulation defined gold zones, as reported in the news release of March 21, 2023.

Results indicate that Slumber reverse circulation drill holes SL-30, SL-31 and SL-32 returned significant gold values as highlighted below (table 1 contains all gold intercepts):

• SL-30 from 192.02 m (630 ft) to 195.06 m (645 ft) at 1.092 grams per tonne (g/t) gold (Au);
• SL-31 from 150.9 m (495 ft) to 158.5 m (520 ft) at 0.489 g/t Au;
• SL-31 from 163.1 m (535 ft) to 166.1 m (545 ft) at 0.619 g/t Au;
• SL-31 from 181.36 m (590 ft) to 190.5 m (625 ft) at 0.490 g/t Au;
• SL-32 from 160.0 m (520 ft) to 161.5 m (530 ft) at 0.673 g/t Au.

John Watson, NV Gold's chief executive officer, commented: "The Slumber project continues to expand with our work in 2025. Hole SL-30 was drilled 1.7 km north of our previous drilling and hole SL-31 was completed 0.33 km north. Both holes returned highly encouraging intercepts of gold mineralization and both bottomed in grade. The 2025 program results suggest that the oxide gold system is much larger than previously established, with potential to be a major discovery."

Slumber project highlights:

• The Slumber property comprises 85 lode mining claims and is strategically located near active gold mining operations.
• The project is volcanic-hosted epithermal gold mineralization found in a structural corridor along the southern Jackson Mountains.
• Three previous drill campaigns have been conducted by NVX since 2019. Twenty-nine RC holes were completed, totalling 5,200.9 m (17,063.3 ft).
• Geophysical surveys, including the CSAMT survey conducted in 2019 and an induced polarization (IP) survey in 2022, have identified a continuous north-south to north-northeast-trending resistivity zone correlated with gold mineralization. The resistivity anomaly indicates hydrothermally brecciated, highly silicified volcanics with broad thicknesses returning gold values.
• On Nov. 1, 2022, NV Gold announced the identification of five new mercury vapor targets at the Slumber gold project at Humboldt county, Nevada. Three of these anomalies were successfully tested by the current program.
• On March 21, 2023, NV Gold announced the results of an exploration target analysis. An exploration target provides a potential range of tons and grades, and is conceptual in nature, the probability of confirmation is not known (news release dated March 21, 2023).
• Preliminary widely spaced AuCN tests conducted in 2022 showed potentially high gold recovery. See the discussion in the news release of May, 2022.

Thomas Klein, NVX consultant, stated: "The Slumber gold project is one of the most exciting projects I have had the pleasure of working on since my time in Nevada. The gold zone is extensive and the 2025 stepouts, up to 1.75 km, exhibit the same mineralization style with increasing gold grades, suggesting higher-grade gold mineralization at depth, with potential high-grade feeders yet to be discovered. Slumber is in the early stage of discovery and I am very optimistic that the Slumber gold system will grow significantly. I am confident that further drilling could lead to the next major oxide gold discovery in Nevada."

Jesse D. Wellman, CPG, qualified person (QP) for the Slumber project, stated: "Thanks to the NV Gold Corp.'s 2025 drilling program, the Slumber gold project now has gold intercepts in drilling covering nearly 2.5 km from north to south and 0.5 km east to west, with most directions remaining open. The pyroclastic/volcaniclastic-hosted epithermal system appears to be well altered, mineralized and oxidized. Bleaching/leaching and silicification are the most common alteration types, with local argillic- and quartz-rich zones. Iron oxides after pyrite, with occasional relict textures, are widespread. Additional work is needed to fully understand the structural and host rock controls. From what is known currently, the geology appears permissive to expand significantly the extent of contained oxide gold."

Qualified person disclosure

The technical disclosure in this news release has been reviewed and approved by Mr. Wellman, who is a certified professional geologist of the American Institute of Professional Geologists and the qualified person as defined by National Instrument 43-101 of the Canadian Securities Administrators. Mr. Wellman is an independent consulting geologist and holds no interest in NV Gold.

Analytical laboratory and QA/QC (quality assurance/quality control) procedures

The company used an MPD-1500 reverse circulation drill of New Frontier Drilling, Fallon, Nev. All 2025 Slumber drilling was reverse circulation type, returning rock samples that range in size from less than one millimetre (mm) up to two centimetres (cm), with the majority between one and five mm in longest dimension. Samples were collected from the cyclone underflow as a separate split from circulation returns on site, and submitted to the ALS Chemex laboratory in Elko, Nev., and in Twin Falls, Idaho. Samples submitted ranged in weight from 0.6 kilogram (kg) to 21.23 Kg with an average weight of 6.3 Kg. Samples were taken at 1.52 m (5 ft) intervals in all holes. All samples were submitted for analyses, except for the first 33 m (100 ft) of hole SL-30, and for hole SL-34, where samples were selected for analysis approximately every 15.2 m (50 ft). Chip samples were collected in trays from all intervals, photographed and retained by the company.

The QA/QC program of NV Gold includes the insertion of certified standards of known gold content, blank and duplicate samples. After crushing and pulverizing samples of 30 grams (g) are tested by the FA (fire assay) ICP-AES (inductively coupled plasma atomic emission spectroscopy) finish, ALS code Au-ICP21 method.

Additional housekeeping

The private placement financing announced on May 22, 2025, has been cancelled after closing a first tranche of $349,800, announced on July 3, 2025, and, the subsequent issuance of 3,498,000 units. Each unit consisted of one common share and one two-year common share purchase warrant, exercisable at 20 cents.

About NV Gold Corp.

NV Gold is a well-organized exploration company with approximately 89 million shares issued and no debt. NV Gold has 21 exploration projects in Nevada, comprising 639 100-per-cent-company-owned lode mining claims totalling 53.4 square km (20.6 square miles). The company is based in Vancouver, B.C., and Reno, Nev., and is focused on delivering value through mineral discoveries in Nevada. Leveraging its expansive property portfolio, its highly experienced in-house technical team and its extensive geological data library, 2024 is expected to be highly productive for NV Gold.

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