Mr. Brandon Bonifacio reports

NEVGOLD ANNOUNCES C$25M BROKERED PRIVATE PLACEMENT FINANCING

Nevgold Corp. has entered into an agreement with Clarus Securities Inc., as sole agent and bookrunner, in connection with a best efforts private placement of up to 13,157,900 common shares of the company at a price of $1.90 per share for gross proceeds to the company of up to $25,000,010, as defined below. The company has granted the agent an overallotment option, exercisable at the issue price up to 24 hours prior to the closing of the offering, to purchase up to an additional 15 per cent of the common shares issued in connection with the offering, to cover overallotments, if any.

Nevgold chief executive officer Brandon Bonifacio comments: "The no warrant, $25-million financing has strong institutional support and provides us with the development capital to expedite the advancement of the near-term antimony production opportunity from the Limo Butte project in Nevada. We have seen positive continued success at Limo Butte and it is clear that we have one of the nearest-term antimony production scenarios being advanced in North America, that also happens to be at surface and oxide. After completion of the financing, we will be in a strong position to continue to execute over the next 12 months. Our clearly stated objective from the beginning remains: play a key part in supporting the United States mandate to create a vertically integrated, domestic antimony supply chain."

The offering will be conducted pursuant to the terms of an agency agreement to be entered into between the company and the agents on or prior to the closing date of the offering. In connection with the offering, the agents will receive a 6.0-per-cent cash commission on the gross proceeds of the offering and 6.0 per cent in non-transferable compensation options on the number of shares sold under the offering. Each compensation option will entitle the holder thereof to acquire one share at the issue price for a period of 24 months from the closing of the offering.

The common shares will be offered pursuant to exemptions from the prospectus requirements to residents of Canada and such other jurisdictions as may be determined by the company.

The company intends to use the net proceeds of the offering for advancing its Limousine Butte antimony-gold project (Nevada), Nutmeg Mountain gold project (Idaho), working capital and general corporate purposes.

The offering is expected to close on or about May 12, 2026, and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, the approval of the TSX Venture Exchange. The common shares will be subject to a hold period of four months and one day from the closing date in accordance with applicable securities laws.

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.