Nevgold Adds More Significant Oxide GOLD-Antimony Results: 2.19 G/T AuEq over 64.0 Meters (0.72 G/T Au and 0.33% Antimony), Including 4.17 G/T AuEq over 24.1 Meters (1.47 G/T Au and 0.60% Antimony), and Also Including 10.86 G/T AuEq over 4.50 Meters (1.43
NEVGOLD ADDS MORE SIGNIFICANT OXIDE GOLD-ANTIMONY RESULTS:
2.19 G/T AUEQ OVER 64.0 METERS (0.72 G/T AU AND 0.33% ANTIMONY),
INCLUDING 4.17 G/T AUEQ OVER 24.1 METERS (1.47 G/T AU AND 0.60%
ANTIMONY), AND ALSO INCLUDING 10.86 G/T AUEQ OVER 4.50 METERS (1.43
G/T AU AND 2.10% ANTIMONY) AT THE LIMOUSINE BUTTE PROJECT, NEVADA
Vancouver, British Columbia – May 1 3, 202 5 – NevGold Corp. (“NevGold” or the “Company”)
(TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that it has discovered further
significant oxide gold-antimony (“Antimony”, “Sb”) drill results at its Limousine Butte Project (the
“Project”, “Limo Butte” ) in Nevada. The Company continues to unlock the substantial gold -antimony
potential of the Project, highlighting its promising prospects for further exploration and development in
Nevada, one of the world’s prolific mining jurisdictions.
Key Highlights
• Further positive, near-surface, oxide gold-antimony drillholes at Resurrection Ridge including:
o LB21-002: 2.19 g/t AuEq* over 64.0 meters (0.72 g/t Au and 0.33% Sb), including 4.17
g/t AuEq* over 24.1 meters (1.47 g/t Au and 0. 60% Sb), and also including 10.86 g/t
AuEq* over 4.50 meters (1.43 g/t Au and 2.10% Sb)
o LB21-003: 2.68 g/t AuEq* over 20.1 meters (1.91 g/t Au and 0.17% Sb)
o *Gold equivalents (“AuEq”) are based on assumed metals prices of US$2 ,000/oz of gold
and US$35,000 per tonne of antimony (~30% discount to current spot prices), and assumed
metals recoveries of 85% for gold and 70% for antimony.
• Drillholes at Resurrection Ridge are drilled with spacing showing strong potential to advance
the Project to an initial gold-antimony Mineral Resource Estimate (“MRE”) (see Figure 1)
• Metallurgical testwork program has commenced with over 100 kg bulk sample from the Project
and NevGold core drilling
• Resurrection Ridge and Cadillac Valley oxide gold-antimony mineralization demonstrates the
significant oxide gold-antimony potential across a large, open mineralized footprint (Figure
1, Figure 4)
o All areas at the Project with gold-antimony potential are permitted and ready to drill
under the Limo Butte Plan of Operations (“PoO”) approved in November -2024 (see
NevGold News Release from November 27, 2024)
• Significant antimony (Sb) upside: historical drilling had an upper detection limit of 1% Sb but
drill intervals exceeded the limit; these samples are currently being re-assayed at American Assay
Lab in Reno, Nevada
• NevGold will continue re -evaluating historical drilling from the Project, focusing on both oxide
gold and antimony
Limo Butte Planned 2025 Activities / Status Update
NevGold will continue its active exploration program at Limo Butte including:
• Evaluate the historical geological database with focus on gold and antimony (in progress);
• Re-analyze historical drilling with focus on gold and antimony (in progress);
• Metallurgical testwork (in progress);
• Drill test gold-antimony targets (subject to the results of the evaluation).
Figure 1 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results.
To view image please click here
Figure 2 – Limousine Butte Gold-Antimony Project cross-section with selected gold-antimony drillhole results. Thin
colored discs show Antimony (Sb ppm) in drilling, and wide colored discs show Gold (Au ppm) in drilling.
To view image please click here
Figure 3 – Limousine Butte Gold-Antimony Project long-section with selected gold-antimony drillhole results. Thin
colored discs show Antimony (Sb ppm) in drilling, and wide colored discs show Gold (Au ppm) in drilling.
Highlighted areas include key drill targets at Resurrection Ridge and the newly defined Crashed Airplane target.
To view image please click here
Figure 4 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results at Resurrection
Ridge and Cadillac Valley. The total strike length between Resurrection Ridge and Cadillac Valley is +5km.
To view image please click here
NevGold CEO, Brandon Bonifacio, comments: “We continue to see exceptional oxide gold-antimony
results from our Limo Butte Project in Nevada. The discovery of more significant oxide gold-antimony
drill results at Resurrection Ridge continues to be a key development with the focus of advancing the
Project to an initial Mineral Resource Estimate (“MRE”) in 2025. We have also recently commenced a
robust metallurgical testwork program to define the optimal flowsheet to recover the gold and antimony,
which is a key step for further project advancement. We still have a number of drillholes to release with
combined gold-antimony results which will further build on the mineralization footprints that we have
defined to date at Resurrection Ridge and Cadillac Valley. The timing and market conditions provide an
optimal environment to advance the gold-antimony potential at Limo Butte as there is a clear commitment
from the United States to advance high-quality, domestic, mineral projects.”
Historical and Re-Assayed Drill Results
Hole ID Length, m* g/t Au % Sb g/t AuEq** From, m To, m
Resurrection Ridge
LB21-002 64.0 0.72 0.33% 2.19 48.2 112.2
including 24.1 1.47 0.60% 4.17 50.6 74.7
also including 4.5 1.43 2.10% 10.86 67.4 71.9
LB21-003 20.1 1.91 0.17% 2.68 62.5 82.6
LB024 61.0 0.26 0.18% 1.07 79.3 140.2
LB023*** 67.1 1.30 0.18% 2.11 24.4 91.5
including 30.5 2.79 0.33% 4.29 30.5 61.0
also including 16.8 5.05 0.46% 7.12 42.7 59.4
LB029*** 79.3 0.53 0.14% 1.16 122.0 201.2
including 18.3 0.52 0.30% 1.86 128.0 146.3
LB013*** 49.7 0.15 0.26% 1.29 30.8 80.5
LB21-005*** 79.2 0.22 0.08% 0.56 64.5 143.7
including 8.6 0.59 0.46% 2.66 65.5 74.1
LB006*** 86.9 1.11 0.30% 2.46 36.6 123.4
including 12.8 1.83 0.87% 5.75 79.2 92.0
also including 6.7 2.29 +1%**** 6.77 85.3 92.0
LB001*** 63.9 0.21 0.33% 1.69 13.1 77.0
including 17.7 0.38 0.83% 4.10 55.2 72.8
also including 6.4 0.16 +1%**** 4.64 55.2 61.6
LB003*** 22.3 2.26 0.32% 3.69 67.1 89.3
including 7.9 5.97 0.57% 8.55 81.4 89.3
LB004*** 110.4 0.19 0.12% 0.73 0.0 110.4
including 36.6 0.24 0.21% 1.16 6.7 43.3
LIM-40*** 54.9 1.20 0.64% 4.07 18.3 73.2
including 12.2 2.12 +1%**** 6.60 48.8 61.0
LIM-45*** 36.6 1.23 0.40% 3.02 24.4 61.0
including 12.2 0.35 +1%**** 4.83 36.6 48.8
LIM-48*** 61.0 0.77 0.41% 2.61 24.4 85.4
including 24.4 0.37 0.77% 3.82 48.8 73.2
Hole ID Length, m* g/t Au % Sb g/t AuEq** From, m To, m
Cadillac Valley
LB22-007*** 169.2 0.89 0.18% 1.70 213.5 382.7
including 54.4 2.26 0.13% 2.85 213.5 267.9
also including 3.10 0.76 2.76% 13.15 259.2 267.9
LB22-006*** 124.7 0.84 0.11% 1.34 127.4 252.1
including 24.3 1.32 0.20% 2.23 160.6 184.9
LB22-019*** 28.9 1.09 0.04% 1.27 170.7 199.6
LB054*** 12.2 0.42 0.08% 0.79 12.2 24.4
*Downhole thickness reported; true width varies depending on drill hole dip and is approximately 70% to 90% of downhole
thickness.
**The gold equivalents (“AuEq”) are based on assumed metals prices of US$2,000/oz of gold and US$35,000 per tonne of
antimony (~30% discount to current spot prices), and assumed metals recoveries of 85% for gold and 70% for antimony.
***Selected drillholes released in previous News Releases on February 27, 2025, March 26, 2025, April 10, 2025, and April 24,
2025.
**** Historical drilling had an upper detection limit of 1% Sb but many drill intervals exceeded the limit.
Limo Butte Geology & Antimony Potential
A review of historical geochemical and drilling data at the Limousine Butte Project has identified multiple
areas with strong gold -antimony potential. These zones correlate closely with outcrops of the Devonian
Pilot Shale, the primary host rock for Carlin -type gold mineralization in the area. Positive gold grade at
Limousine Butte is typically associated with silicification and the formation of jasperoid breccias within
the Pilot Shale, an alteration feature also observed in the positive antimony results.
Through the Project data review, the Company uncovered reports detailing two small-scale historic mining
operations at the Nevada Antimony Mine and Lage Antimony Prospect within the Limo Butte Project
boundary. The Nevada Antimony Mine featured two prospect pits that extracted stibnite (formula: Sb2S3)
from a hydrothermal breccia. The Lage Antimony Prospect reported historical unverified sampling results
with up to 14.46% Antimony with additional prospect pits extracting antimony.
Historical geochemical rock chip sampling within the past-producing Golden Butte pit f rom a Brigham
Young University (“BYU”) Thesis study produced numerous results that exceeded 1% antimony in
jasperoid breccias (see Figure 1). Several results were greater than 5% antimony, including a sample
of 9.6% antimony with visible stibnite and stibiconite. BYU Thesis Report
NevGold VP Exploration, Greg French , comments: “We are pleased with the level of consistency in
thickness and oxide gold -antimony grades that we are seeing in the historic data and the re-assay
program. It is clear that we have two large mineralization footprints at Resurrection Ridge and Cadillac
Valley with over 5 km of strike length defined between the target areas. There are also a number of other
advanced target areas with gold-antimony potential within the project boundary that we will look to explore
in 2025. To further advance the development of the project, we have also commenced a robust
metallurgical program which will help define the optimal flowsheet to recover both gold and antimony.”
Figure 5 – Limousine Butte Project with historical antimony in rock chips and soils. The total strike length between
Resurrection Ridge and Cadillac Valley is +5km. To view image please click here
US Executive Order – Announced March 20, 2025
The Company is pleased to report the recent, sweeping Executive Order to strengthen American mineral
production and reduce U.S. reliance on foreign nations for its mineral supply. Antimony (Sb) has been
identified as an important “Critical Mineral” in the United States essential for national security, clean
energy, and technology applications, yet no domestically mined supply currently exists.
The Executive Order invokes the use of the Defense Production Act as part of a broad United States (“US”)
Government effort to expand domestic minerals production on national security grounds. As it relates to
project permitting, the Order states that it will "identify priority projects that can be immediately approved
or for which permits can be immediately issued, and take all necessary or appropriate actions…to expedite
and issue the relevant permits or approvals." Furthermore, the Order includes provisions to accelerate access
to private and public capital for domestic projects, including the creation of a "dedicated mineral and
mineral production fund for domestic investments" under the Development Finance Corporation ("DFC").
This decisive action by the US Government highlights the urgent need to expand domestic minerals output
to support supply chain security in the United States. This important Order will help revitalize domestic
mineral production by improving the permitting process and providing financial support t o qualifying
domestic projects.
Importance of Antimony
Antimony is considered a “Critical Mineral” by the United States based on the U.S. Geological Survey’s
2022 list ( U.S.G.S. (2022)). “Critical Minerals” are metals and non -metals essential to the economy and
national security. Antimony is utilized in all manners of military applications, including the manufacturing
of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive
formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear
weapons and production, tritium production, flares, military clothing, and communication equipment. Other
uses include technology (semi -conductors, circuit boards, electric switches, fluorescent lighting, high
quality clear glass and lithium-ion batteries) and clean-energy storage.
Globally, approximately 90% of the world’s current antimony supply is produced by China, Russia, and
Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global
mined antimony output and dominates global refinement and processing, announced that it will restrict
antimony exports. In December -2024, China explicitly restricted antimony exports to the United States
citing its dual military and civilian uses, which further exacerbated global supply chain concerns. ( Lv, A.
and Munroe, T. (2024)) The U.S. Department of Defense (“DOD”) has designated antimony as a “Critical
Mineral” due to its importance in national security, and governments are now prioritizing domestic
production to mitigate supply chain disruptions. Projects exploring antimony sources in North America
play a key role in addressing these challenges.
Perpetua Resources Corp. (“Perpetua”, NASDAQ:PPTA, TSX:PPTA) has the most advanced domestic
gold-antimony project in the United States. Perpetua’s project, known as Stibnite, is located in Idaho
approximately 130 km northeast of NevGold’s Nutmeg Mountain and Zeus projects. Positive advancements
at Stibnite including the technical development and permitting has led to US$75 million in Department of
Defense (“DOD”) awards, and over $1.8 billion in indicative financing from the Export Import Bank of the
United States ( “US EXIM ”) (see Perpetua Resources News Release from April 8, 2024 ) ( Perpetua
Resources. (2025))
Drillhole Orientation Details
Hole ID
Target
Zone
Easting Northing
Elevation
(m)
Length (m) Azimuth Dip
LB21-002
Resurrection
Ridge
666979 4417343 2117 151.8 0 90
LB21-003
Resurrection
Ridge
667061 4417417 2129 183.5 0 90
LB024
Resurrection
Ridge
667217 4417423 2159 189 70 -80
LB023
Resurrection
Ridge
667143 4417273 2174 187 70 -60
LB029
Resurrection
Ridge
667128 4417307 2162 237.7 0 -90
LB013
Resurrection
Ridge
667142 4417273 2177 164.7 90 -50
LB21-005
Resurrection
Ridge
667279 4417487 2179 253.8 0 -90
LB006
Resurrection
Ridge
667030 4417384 2125 152.7 0 -90
LB001
Resurrection
Ridge
667036 4417384 2125 77 0 -90
LB003
Resurrection
Ridge
667134 4417528 2133 129.4 0 -90
LB004
Resurrection
Ridge
667313 4417277 2239 198.7 270 -50
LIM-40
Resurrection
Ridge
667018 4417409 2124 289.6 0 -90
LIM-45
Resurrection
Ridge
666929 4417389 2103 179.8 0 -90
LIM-48
Resurrection
Ridge
666927 4417374 2105 286.5 0 -90
LB22-007
Cadillac
Valley
665211 4415453 2031 403.5 254 -86
LB22-006
Cadillac
Valley
664692 4414921 2042 379.8 144 -77
LB22-019
Cadillac
Valley
664433 4414318 2096 335.3 116 -66
LB054
Cadillac
Valley
665323 4415090 2059 157.0 0 -90