Mr. Brandon Bonifacio reports

NEVGOLD ANNOUNCES CLOSING OF UPSIZED $42M BROKERED PRIVATE PLACEMENT FINANCING

Nevgold Corp. has closed its previously announced upsized private placement financing of 22,223,946 common shares for gross proceeds of $42,225,497. Each common share was priced at $1.90 per share and is subject to a hold period expiring on Sept. 13, 2026.

Nevgold chief executive officer Brandon Bonifacio commented: "We are grateful for the support of the incoming group of institutional investors and our strong existing shareholder base. We are also thankful to Clarus Securities for their capital markets partnership and continued support over the past 12 months. The successful closing of the upsized, no-warrant $42-million financing is a strong endorsement of the growing Nevgold platform, and we are excited to continue to execute on our clearly defined, well-financed road map over the next 12 to 18 months. The capital raised will allow us to expedite the advancement of the near-term antimony production opportunity from the Limo Butte project in Nevada -- a project that we believe is emerging as one of the most important critical minerals assets in the United States. In parallel, we will also continue to unlock value across the broader project area with a focused strategy around oxide gold-antimony. We are at the crossroads of an important geopolitical situation, and the mineral security and stability of the United States, and we are determined to play a leading role in establishing a vertically integrated, domestic antimony supply chain."

Clarus Securities Inc. acted as sole agent and bookrunner in respect of the offering. The offering was conducted pursuant to the terms of an agency agreement between the company and the agent. In connection with the offering, the agent received a $2,533,529.84 cash commission on the gross proceeds of the offering and 1,333,436 non-transferable compensation options on the number of common shares sold under the offering. Each compensation option entitles the holder thereof to acquire one common share at the issue price until May 12, 2028.

The common shares were offered pursuant to exemptions from the prospectus requirements to residents of Canada and other jurisdictions. The common shares and the compensation options, including the common shares issuable on exercise thereof, are subject to a hold period expiring on Sept. 13, 2026, in accordance with applicable securities laws. The offering is subject to the final approval of the TSX Venture Exchange.

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

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.