Mr. Brandon Bonifacio reports

NEVGOLD ANNOUNCES CLOSING OF SHARES-FOR-DEBT TRANSACTION

Nevgold Corp. has closed a previously announced shares-for-debt transaction, as described in the press release of the company dated Feb. 16, 2024. Nevgold has settled debt in the amount of $135,000 previously owed to an arm's-length creditor by issuing an aggregate of 421,875 common shares in the capital of the company at a price of 32 cents per common share to the creditor. The Nevgold board of directors determined that it was in the best interests of the company to settle the outstanding debt by the issuance of common shares in the interest of preserving the company's cash for continuing operations.

The company has received TSX Venture Exchange approval of the shares-for-debt transaction. The common shares issued pursuant to the shares-for-debt transaction are subject to a four-month hold period expiring on July 12, 2024.

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 the Nutmeg Mountain gold project in Idaho.