Mr. Brandon Bonifacio reports

NEVGOLD APPOINTS DALE FOUND AS CFO, CURRENT CFO BOB MCKNIGHT TRANSITIONS TO VP ENGINEERING STUDIES TO SUPPORT NEXT PROJECT DEVELOPMENT PHASE

Nevgold Corp. has appointed Dale Found as chief financial officer, effective immediately. The company is also pleased to announce the management transition of current CFO, Bob McKnight, to a newly formed vice-president, engineering studies, role, effectively immediately.

Brandon Bonifacio commented: "We have been diligently working on setting our organization up for success as we enter the next stage of project development after delivering on our robust, oxide gold-antimony mineral resource estimate. The addition of Mr. Found is an important move as our organization progresses into more advanced stages of project development. Mr. Found has experience at development-stage projects, but he has also worked on various construction-stage projects and mining operations throughout the Americas. The transition of Mr. McKnight to the VP, engineering studies, role is equally important as it allows his focus to be solely on the upcoming engineering study at Limo Butte."

Mr. Found has more than 35 years of international accounting and finance experience, the past 20 of which have been spent in progressively more senior roles within the mining industry. He was most recently CFO of Alta Copper Corp. prior to its acquisition by Fortescue Ltd. He has significant experience both in corporate and mine site operational finance, having been part of the senior leadership team at Nevada Copper Corp. that positioned the mine for the final construction phase. Additionally, he was a key member of the management team that took New Gold Inc.'s New Afton mine through the construction phase and into commercial production, delivering the mine on time and on budget.

Immediately prior to that, Mr. Found was responsible for all financial matters for New Gold in Mexico from a hands-on position at the mine. Mr. Found is a chartered professional accountant, CA, a fellow of the Institute of Chartered Accountants in England and Wales, and has a wealth of experience in financial reporting, operational planning, treasury management and ERP/system implementations.

Mr. McKnight is a mining executive with over 40 years of relevant experience in the mining industry. He has been directly involved in over $1.5-billion in project debt, equity, stream, and merger-and-acquisition transactions. As executive vice-president and chief financial officer of Nevada Copper Corp., Mr. McKnight has participated in the arrangement of over $500-million in debt, equity and metal stream financings for the Pumpkin Hollow project in Nevada. He holds a PEng, BASc and MBA.

Grant of options

The company announces that it has granted 400,000 stock options of the company. Each stock option entitles the holder to acquire one common share of the company at an exercise price of $1.40 per share with an expiry of Sept. 3, 2031. The stock options were issued pursuant to the terms of the company's omnibus equity compensation plan.

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.