Nevgold Announces up to 99% GOLD Recovery from Phase Ii Metallurgical Testwork ON Oxide Antimony-GOLD; Identifies More Antimony Mineralization at Surface in Historical GOLD Waste Dump
NEVGOLD ANNOUNCES UP TO 99% GOLD RECOVERY FROM PHASE II
METALLURGICAL TESTWORK ON OXIDE ANTIMONY-GOLD; IDENTIFIES MORE
ANTIMONY MINERALIZATION AT SURFACE IN HISTORICAL GOLD WASTE DUMP
Vancouver, British Columbia – April 2, 202 6 – NevGold Corp. (“NevGold” or the “Company”)
(TSXV:NAU) ( OTCQX:NAUFF) ( Frankfurt:5E50) is pleased to announce further metallurgical
testwork results on the residual tailings material from the positive Phase II antimony (“Antimony”, “Sb”)
testwork included in the November 5, 2025 News Release. The residual tailings material from the antimony
leaching process had remaining gold mineralization, and went through a second sequential stage of leaching
testwork focused on gold. The positive sequential antimony and gold leaching results highlight the
exceptional geo-metallurgical characteristics of the oxide antimony-gold Limousine Butte Project (the
“Project”, “Limo Butte”) in Nevada, one of the world’s prolific mining jurisdictions. As the Company has
stated in previous News Releases, and has now confirmed with testwork results, the antimony recovery
process with conventional leaching methods has minimal to no impact on gold recoveries.
The Company is also please d to announce the identification of additional antimony mineralization at
surface in the historical pre-strip waste dump situated adjacent to the past-producing Golden Butte pit (see
Figure 1, 2 , 3 ). Phase I sampling has been completed with assays pending. The identified antimony
mineralization in the pre-strip waste dump is another potential source of at-surface antimony material
at the Project.
NevGold CEO, Brandon Bonifacio , comments: “The results from our Phase II antimony and gold
metallurgical testwork shows that leaching in sequence on antimony and gold works favorably as we have
envisioned and guided to over the past 12 months. This is a key step in optimizing the metallurgical
flowsheet to recover antimony and gold at Limo Butte. Since we have oxide antimony-gold mineralization,
with two distinct, separate mineralizing events that initially deposited gold and then antimony , we are
able to achieve high recoveries on both minerals with a simple, sequential leaching flowsheet. Most global
antimony projects are sulphide and produce an antimony concentrate, which adds significant complexities
to the operation, cost structure, recovery of minerals, and concentrate marketing. We are fortunate that
Limo Butte has a large, near-surface footprint of oxide antimony-gold mineralization which is amenable
to leaching, and we have the opportunity to produce both antimony and gold metal at the project site .
Limo Butte continues to distinguish itself from other antimony projects globally with its unique geo -
metallurgical characteristics and simple, leach processing flowsheet.”
Bonifacio continues: “It is also encouraging that we have identified another potential source of at-surface
antimony in the historical pre-strip waste dump from the past-producing gold mine which did not have a
focus on antimony. This would be additional antimony material at surface further to the historical leach
pads. We have also completed the drill program on the historical leach pads , and the Mineral Resource
Estimate (“MRE”) is on track for Q2-2026.”
Key Highlights
• Average gold recovery greater than 93% from the Phase II gold cyanide shake leach tests on the
residual tailings from the antimony leaching stage (results in Table 2):
o Sample 102751 B achieved 93% to 97% gold recovery
o Sample 102750 B achieved 82% to 99% gold recovery
o Sample 102749 B achieved 94% to 97% gold recovery
o Sample 102752 B achieved 93% to 98% gold recovery
o Sample 101178 B achieved 95% to >99% gold recovery
o Sample 101179 B achieved 82% to 94% gold recovery
• Based on testwork results, leaching is the preferred metallurgical process for both antimony
and gold
o Antimony recovery has minimal to no impact on the gold recovery in a potential
combined antimony-gold mine scenario
• Further to the historical gold leach pads, NevGold has identified more visible antimony
mineralization at surface (see Figure 1, 2, 3) in the historical pre-strip gold waste dump
o Phase 1 sampling of historical waste dumps completed with assays pending
• Sonic drill program on historical gold leach pads is completed (~35 holes)
o MRE on historical leach pads is tracking to early Q2-2026
o MRE on historical leach pads is key step in the development of near-term antimony
production scenario at the Project
Limo Butte Planned 2026 Activities / Status Update
NevGold will continue its active exploration program at Limo Butte including:
• Evaluating the historical geological database with focus on gold and antimony (completed);
• Advancing metallurgical testwork (ongoing);
• Continuing to drill test gold-antimony targets (5,000 meters (30 drillholes) completed, a further
20,000 meters is planned in 2026 focused on the Bullet Zone and Armory Fault discoveries);
• Advancing the Crushed and Run of Mine (“ROM”) leach pads to near-term antimony production
(Drilling March-2026, MRE beginning of Q2-2026, ongoing metallurgical testwork);
• Completing initial gold-antimony Mineral Resource Estimate (MRE) (in progress).
• Advancing state and federal permitting, prioritizing the near -term antimony processing of the
historical gold leach pads that do not require mining (in progress).
Summary of Antimony and Gold Metallurgical Testwork Program
The antimony-gold zones at Limousine Butte are typically associated with silicification and the formation
of jasperoid breccias within the Pilot Shale unit, which is the primary host rock for Carlin -type gold -
antimony mineralization in the area.
Composite samples of 20-kilogram were sent to the Kappes, Cassiday & Associates laboratory (KCA) in
Reno, Nevada, for initial antimony recovery metallurgical test work. The core samples were composed of
material from the Resurrection Ridge and Cadilac Valley target areas ranging from 64 meters to 377 meters
deep. The surface outcrop sample was taken from several outcrops in the historic ally mined Golden Butte
pit, and the nearby Nevada Antimony Mine prospect. Both the surface and core samples contained antimony
oxide with minor antimony sul phide minerals. Head assays for the composite samples are summarized in
Table 1.
Following the leach testing for antimony, the residual tailings were utilized for cyanide shake tests for
gold extraction. Cyanide shake tests were conducted using portions of the pulverized tails material. These
test results provide indications of cyanide soluble metal extractions from pulverized material.
KCA Sample # Description
Average
Au g/t
Average
Ag g/t
Average
Sb %
102751 B Lower Sb 0.44 1.17 0.20%
102750 B Mid Sb 2 1.86 3.13 0.41%
102749 B Mid Sb 1 0.58 0.47 0.75%
102752 B Surface Sb 0.51 1.54 1.44%
101178 B Limo Core Sb 0.89 2.64 3.92%
101179 B Limo Surface Sb 0.27 1.13 7.96%
Table 1 – Head Assay of test material characteristics from Limo Butte.
Metallurgical Testwork Results – Summary
KCA
Test # Description
Test Type
(Antimony
Leach)
Calc.
Head,
% Sb
Sb
Extracted
%
Residual
Tails,
g/t Au
Au
Extracted
%
102751 B Lower Sb Acid – Lower 0.13 85 1) 0.39 g/t
2) 0.41 g/t
3) 0.43 g/t
1) 97%
2) 93%
3) 94% 102751 B Lower Sb Acid – Higher 0.17 71
102750 B Mid Sb 2 Acid – Lower 0.35 61 1) 1.37 g/t
2) 1.83 g/t
3) 1.91 g/t
1) 82%
2) 99%
3) 97% 102750 B Mid Sb 2 Acid – Higher 0.43 54
102749 B Mid Sb 1 Acid – Lower 0.59 66 1) 0.49 g/t
2) 0.60 g/t
3) 0.54 g/t
1) 94%
2) 97%
3) 96% 102749 B Mid Sb 1 Acid – Higher 0.63 62
102752 B Surface Sb Acid – Lower 1.50 69 1) 0.45 g/t
2) 0.50 g/t
3) 0.52 g/t
1) 98%
2) 93%
3) 93% 102752 B Surface Sb Acid – Higher 2.09 71
101178 B Limo Core Sb Acid – Higher 4.67 92
1) 0.88 g/t
2) 0.98 g/t
3) 1.09 g/t
1) 95%
2) 96%
3) >99%
101179 B Limo Surface Sb Acid – Higher 8.41 75
1) 0.28 g/t
2) 0.30 g/t
3) 0.39 g/t
4) 0.25 g/t
1) 94%
2) 93%
3) 83%
4) 82%
Table 2 – Summary of Phase II metallurgical testwork including acid leach tests (addition of H2SO4/HCL) for
antimony, and cyanide shake leach tests for gold.
Figure 1 – Drone picture at Limo Butte looking north with newly defined antimony mineralization at surface in
historical pre-strip waste dump, historical Crushed and Run-of-Mine leach pads, Golden Butte pit, and Resurrection
Ridge target. To view image please click here
Figure 2 – Drone picture at Limo Butte looking northeast with newly defined antimony mineralization at surface in
historical pre-strip waste dump adjacent to the historically mined Golden Butte pit. To view image please click here
Figure 3 – Picture looking at the waste dump, with an example of identified antimony mineralization in pre-strip
waste dump material. Rock hammer for scale. To view image please click here
Figure 4 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here
ON BEHALF OF THE BOARD
“Signed”
Brandon Bonifacio, President & CEO
For further information, please contact Brandon Bonifacio at [email protected], call 604-337-
4997, or visit our website at www.nev-gold.com.
Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance:
NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and
standard samples in all drill holes. A 30g gold fire assay and multi -elemental analysis ICP-OES method
was completed by ISO 17025 certified American Assay Labs, Reno.
The metallurgical work was carried out by Kappes, Cassiday and Associates based in Reno, Nevada. Head
assays were ground to 80% passing 0.075mm and analyzed by standard 30g gold fire assay and multi -
elemental analysis ICP-OES methods. Antimony leach test samples were milled to 80% passing 0.045mm.
The acid leach tests were leached at 80oC for 8 hours. Gold cyanide shake leach tests were conducted using
portions of the pulverized tails material after the antimony leaching.
The Company’s Qualified Person (“QP”), Greg French, Vice President, Exploration has completed a review
of the historical data in this press release. The historic data collection chain of custody procedures and
analytical results by previous operators appear adequate and were completed to industry standard practices.
For the Newmont and US Gold data a 30g gold fire assay and multi -elemental analysis ICP-OES method
MS-41 was completed by ISO 17025 certified ALS Chemex, Reno or Elko Nevada.
Technical information contained in this news release has been reviewed and approved by Greg French,
CPG, the Company’s Vice President, Exploration, who is NevGold’s Qualified Person under National
Instrument 43-101 and responsible for technical matters of this release.
About the Company
NevGold is an exploration and development company targeting large-scale mineral systems in the proven
districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold
projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward -looking statements that are based on the Company’s current expectations and
estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”,
“intend”, “believe”, “anticipate ”, “estimate”, “suggest”, “indicate” and other similar words or statements that
certain events or conditions “may” or “will” occur. Forward-looking statements include, but are not limited to, the
proposed work programs at Limousine Butte, the exploration potential at Limousine Butte, and future potential project
milestones such as the potential Mineral Resource Estimate (“MRE”). Such forward -looking statements involve
known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in such forward -looking statements. Such risks
include, but are not limited to, general economic, market and business conditions, and the ability to obtain a ll
necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate,
that the management’s assumptions may not be correct or that actual results may differ materially from such forward-
looking statements. Accordingly, readers should not place undue reliance on the forward -looking statements. Any
forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as
a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of
future performance and accordingly undue reliance should not be put on such statements due to the inherent
uncertainty therein.