Mr. Brandon Bonifacio reports

NEVGOLD ANNOUNCES SHARES-FOR-DEBT AGREEMENTS

Nevgold Corp. has entered into two debt settlement agreements dated Sept. 21, 2023, to settle outstanding debt in the amount of $169,580 owing to two arm's-length creditors, by issuing an aggregate of 403,761 common shares in the capital of the company at a price of 42 cents per common share, reflecting a 50-plus-per-cent premium to the current Nevgold share price, to the creditors. The Nevgold board of directors has determined that it is in the best interests of the company to settle the outstanding debt by the issuance of common shares at a significant premium to market in order to preserve the company's cash for continuing operations.

Closing of the shares for debt transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange. The company intends to close the shares for debt transaction as soon as practicable. The common shares to be issued pursuant to the shares for debt transaction will be subject to a hold period of four months and one day from the date of issuance.

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 and Cedar Wash gold projects in Nevada, and has an option to acquire 100 per cent of the Nutmeg Mountain gold project in Idaho.

We seek Safe Harbor.