Mr. Brandon Bonifacio reports

NEVGOLD ANNOUNCES COMPLETION OF DEBT SETTLEMENT

Nevgold Corp., further to its news release dated May 21, 2026, has completed its debt settlement with Mercer Street Global Opportunity Fund II LP, managed by C/M Global GP LLC. The company issued 227,544 common shares of the company to Mercer, at an issue price of $2.44 per common share, in settlement of accrued original issue discount on the company's convertible security in the aggregate amount of $555,208.33. Mercer had previously converted the full $3.5-million principal amount of the convertible security into common shares of the company. Following this settlement, the only outstanding amount on the convertible security is the remaining original issue discount that will accrue from May 15, 2026, to Aug. 30, 2026. The company received the approval of the TSX Venture Exchange for the debt settlement.

Nevgold president and chief executive officer, Brandon Bonifacio, comments: "After our initial convertible security financing agreement with Mercer in 2024, we are pleased to have fully satisfied the principal amount of $3.5-million. We have also addressed a large portion of the accrued original issue discount after the completion of this debt settlement, with only a minor residual portion remaining over May to August of 2026. Mercer has remained a strong, supportive shareholder, which is exemplified by this conversion into shares of the company. With current cash of approximately $50-million, NevGold is exceptionally well capitalized and positioned to continue executing on our near-term antimony production scenario."

For further information on the convertible security, please refer to the company's news releases dated Aug. 26, 2024, and Sept. 3, 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 (gold-antimony) and Cedar Wash (gold) projects in Nevada, and the Nutmeg Mountain (gold) and Zeus (copper) projects in Idaho.

We seek Safe Harbor.