Nevgold Intercepts Highest-Grade Oxide Antimony at Bullet Zone Discovery: 5.51% Antimony over 4.6 Meters Within 4.00 G/T AuEq over 41.1 Meters (0.96% Antimony and 0.29 G/T Au) at Limo Butte, Nevada
NEVGOLD INTERCEPTS HIGHEST-GRADE OXIDE ANTIMONY AT BULLET ZONE
DISCOVERY: 5.51% ANTIMONY OVER 4.6 METERS WITHIN 4.00 G/T AUEQ OVER
41.1 METERS (0.96% ANTIMONY AND 0.29 G/T AU) AT LIMO BUTTE, NEVADA
Vancouver, British Columbia – December 2, 2025 – NevGold Corp. (“NevGold” or the “Company”)
(TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce further positive high-grade
oxide antimony drill results from surface at the newly discovered antimony-gold “Bullet Zone” at its
Limousine Butte Project (the “Project”, “Limo Butte”) in Nevada. The Bullet Zone was discovered in the
2025 drill program with step-out drilling testing NevGold’s new geology model at the Project. The Bullet
Zone discovery significantly expands the gold-antimony mineralization footprint at the Resurrection Ridge
target, which NevGold is advancing to an initial gold-antimony Mineral Resource Estimate (“MRE”).
Aerial Drone Footage of 2025 Drilling & Bullet Zone Discovery (Click Here):
Key Highlights
• Highest-grade antimony (“Antimony”, “Sb”) interval drilled to date with 5.51% Sb over 4.6
meters:
o LB25-009 Upper Zone (from surface): 21.49 g/t AuEq* over 4.6 meters (5.51% Sb and
0.06 g/t Au), within 4.00 g/t AuEq* over 41.1 meters (0.96% Sb and 0.29 g/t Au)
o LB25-009 Lower Zone*: 0.71 g/t AuEq* over 6.1 meters (0.15% Sb and 0.12 g/t Au);
▪ *LB25-009 failed to reach target depth due to drilling difficulties as it was entering
the prospective Lower Zone; the hole terminated in gold-antimony mineralization
o LB25-001 (infill, gap in antimony data): 4.05 g/t AuEq* over 3.0 meters (1.03% Sb and
0.04 g/t Au) within 0.88 g/t AuEq* over 48.8 meters (0.20% Sb and 0.09 g/t Au)
o *Gold equivalents (“AuEq”) are based on assumed metals prices of US$ 3,000/oz of gold
and US$40,000 per tonne of antimony (~30% discount to current spot prices), and assumed
metals recoveries of 80% for gold and 75% for antimony.
• High-grade Bullet Zone discovery significantly expands the antimony -gold mineralization
footprint at Resurrection Ridge ; drilling is focused on advancing the Project to an initial gold -
antimony Mineral Resource Estimate (“MRE”)
o New NevGold geological model is confirmed with Hole LB25 -009 and LB25 -002
intercepting gold-antimony mineralization below the older thrusted dolomite unit
• 18 holes have been completed in the current 2025-2026 drill program with assays pending
• The Company has completed Phase 1 antimony-gold sampling of the Crushed and Run of Mine
(“ROM”) leach pads from the past -producing Golden Butte pit, which produced over 100,000
ounces of gold in 1989-1990
o The historically mined leach pads have material at surface that was previously mined and
crushed with strong antimony-gold potential (see Figure 3); the previous Golden Butte
operation was solely focused on gold with no focus on antimony
• Antimony is one of the highest priority Critical Minerals due to its strategic importance and military
applications; Limo Butte is a brownfield mine site located in the State of Nevada with near -
surface, high-grade antimony mineralization
Limo Butte Planned 2025-2026 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);
• Analyzing historical drilling with focus on gold and antimony (continuous activity);
• Advancing metallurgical testwork (Phase II completed);
• Continuing to drill test gold-antimony targets (ongoing, 18 drillholes completed to date);
• Sampling the Crushed and Run of Mine (“ ROM”) leach pads from the past -producing Golden
Butte pit, which produced over 100,000 ounces of gold in 1989 -1990, to determine the gold -
antimony mineralization (Phase I completed, results pending);
• Completing initial gold-antimony Mineral Resource Estimate (MRE) (in progress).
NevGold CEO, Brandon Bonifacio, comments: “We are extremely excited about the successful drilling
around the high -grade antimony discovery made at the Bullet Zone. The 2nd hole into the target, LB25-
009, has confirmed that we have a substantial area of near-surface, high-grade antimony mineralization.
We will continue to drill the Bullet Zone over the remainder of the 2025 -2026 drill program with the
objective of rapidly advancing the Project to an initial antimony-gold MRE. Another key development has
been the identification of the antimony-gold potential in the historically mined gold leach pads at the
Project, and we have recently completed our Phase I sampling program on the leach pads. As Limo Butte
is a brownfield mine site, one key advantage is having a large amount of historically mined material already
on surface in the leach pads that had a previous focus only on gold mineralization. The historically mined
leach pads are a significant, near-surface antimony opportunity that we are rapidly advancing.”
Bonifacio continues: “We are also well-positioned with Limo Butte to support the United States critical
minerals strategy as the Project has both antimony and gold. There is a clear commitment from the United
States government to advance high-quality, domestic, mineral projects and Limo Butte is well-advanced
with its significant near-surface, oxide antimony-gold mineralization and large geological database. All
of our various work programs in 2025 have demonstrated the quality of the antimony -gold potential at
Limo Butte, and we will continue to systematically advance the Project with the objective of playing a key
part in the mandate to create a vertically integrated, U.S. antimony supply chain.”
Figure 1 – Resurrection Ridge target area with the new Bullet Zone discovery with LB25-002 and LB25-009. Figure
also includes 2025 planned drilling, completed drilling, and identified expansion areas with the thrust faulted Upper
Plate Dolomite. Red outline is current mineralization footprint at Resurrection Ridge, with +200 meter step-out to
the east with Hole 25-002 and Hole 25-009 and discovery of the Bullet Zone. To view image please click here
Figure 2 – Cross section with results from LB25-009 and new Bullet Zone discovery. Blue to Green discs (left) show
Antimony (Sb ppm) in drilling, and yellow to red discs (right) show Gold (Au ppm) in drilling.
To view image please click here
Figure 3 – Resurrection Ridge target area with the historically mined Golden Butte pit gold leach pads. The
historically mined leach pads have material at surface that was previously mined and crushed with strong antimony-
gold potential. The previous Golden Butte operation was solely focused on gold with no focus on antimony. Phase I
sampling is completed on the leach pads. To view image please click here
Figure 4 – Large cross section at the Project outlining the strong expansion potential between Resurrection Ridge
and Crashed Airplane Valley, which spans +2.5 kilometers. To view image please click here
2025 Drill Results
Hole ID Length, m* g/t Au % Sb g/t AuEq** From, m To, m
Resurrection Ridge – “Bullet Zone” Discovery
LB25-009 Upper 41.1 0.29 0.96% 4.00 15.2 56.4
including 21.3 0.08 1.73% 6.79 35.1 56.4
including 4.6 0.06 5.51% 21.49 47.2 51.8
LB25-009 Lower 6.1 0.12 0.15% 0.71 138.7 144.8
LB25-001 48.8 0.09 0.20% 0.88 93.0 141.7
including 3.0 0.04 1.03% 4.05 100.6 103.6
LB25-003 no significant values – post mineral fault
LB25-002 Upper*** 53.3 0.22 0.57% 2.42 3.0 56.4
Including 32.0 0.31 0.84% 3.60 19.8 51.8
Including 4.6 0.29 3.76% 14.90 39.6 44.2
LB25-002 Lower*** 57.9 0.45 0.03% 0.58 150.9 208.8
including 32.0 0.68 0.04% 0.82 164.6 196.6
*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$3,000/oz of gold and US$40,000 per tonne of
antimony (~30% discount to current spot prices), and assumed metals recoveries of 80% for gold and 75% for antimony.
***Selected drillhole released in previous News Release on October 16, 2025.
Limo Butte – Updated Geological Model Summary and Discovery of Bullet Zone
The Devonian Pilot Shale (“Pilot Shale”, “Pilot”) is the principal local host to Carlin-type mineralization
at Limousine Butte. At Limousine Butte, positive gold grades commonly coincide with silicification and
jasperoid breccias within the Pilot Shale, and this alteration style is also host to elevated antimony.
NevGold’s 2021–2025 work included integrating historical drilling, new mapping, and surface sampling
which produced an updated district model and refined property-wide controls on mineralization. At
Resurrection Ridge, Devonian–Silurian dolomite is exposed immediately east of known gold-antimony
mineralization. Earlier explorers inferred that the overlying Pilot Shale had been eroded in this area, and
they did not test eastward, despite shallow high-grade intercepts in the easternmost holes drilled at
Resurrection Ridge. The new model indicates the older dolomite was thrust over the prospective Pilot
Shale unit, creating structural preparation and a fluid trap that preserves the favorable host at depth, the
classic architecture for a Carlin-type system.
Hole LB25-002 and LB25-009 have proven the new NevGold geological model. Both holes collared in
dolomite, passed through the upper thrust plate, and intersected gold and antimony at multiple horizons
within the Pilot Shale. These drillhole results validate the new geological model and materially expand
the potential mineralization footprint at the Project: the preserved Pilot Shale extends more than one
kilometer east of prior drilling at Resurrection Ridge.
Figure 5 – Comparison of historical geological model (left) and new NevGold geological model (right) outlining the
thesis that the older dolomite unit was thrust over the prospective Pilot Shale unit. The preserved Pilot Shale unit
extends more than 1 kilometer east of prior drilling at Resurrection Ridge. To view image please click here
Property-wide, the updated model outlines multiple Au–Sb target corridors that track outcrops and
projected subsurface positions of the Pilot Shale, where repeated faulting and thrusting provided fluid
pathways and focused mineralization. NevGold’s 2025-2026 drill program continues to test these high-
priority targets.
Historical records within the project boundary document two small-scale antimony prospects—the
Nevada Antimony Mine and the Lage Antimony Prospect (Figure 1). The Nevada Antimony Mine
extracted stibnite (Sb₂S₃) from a hydrothermal breccia via shallow pits; the Lage prospect similarly
reports limited antimony production. Complementing these records, rock-chip sampling from the Golden
Butte pit (Brigham Young University thesis) returned numerous assays exceeding 1% Sb in jasperoid
breccias, with several over 5% Sb, including a sample grading 9.6% Sb with visible stibnite and
stibiconite (BYU Thesis Report ).
Together, these datasets support a district-scale interpretation in which thrust repetition preserves the
Pilot Shale at depth east of Resurrection Ridge and focuses Au–Sb mineralization along structurally
prepared horizons, establishing multiple high-priority targets for step-out drilling and follow-up work.
Figure 6 – Limousine Butte Project with historical antimony in rock chips and soils. The total strike length between
Resurrection Ridge and Cadillac Valley is +5km, within an overall +20km strike length at the Project.
To view image please click here
Drillhole Orientation Details
Hole ID Target Zone Easting Northing
Elevation
(m)
Length
(m)
Azimuth Dip
LB25-001 RR (infill) 667127 4417327 2159 225.6 290 -65
LB25-002 Bullet Zone (RR) 667078 4417219 2176 225.6 145 -65
LB25-003 RR (infill) 667223 4417414 2165 220 290 -60
LB25-009 Bullet Zone (RR) 667077 4417217 2176 157 200 -60
US Executive Order – Announced March 20, 2025
The Company is pleased to report the 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 limited domestic mine 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 to 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 technical development and permitting has led to US$75 million in Department of
Defense (“DOD”) awards, 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)), and recent strategic investments of US$180 million from Agnico-Eagle Mines Limited
(“Agnico”) and US$75 million from JPMorganChase’s $1.5 trillion Security and Resiliency Initiative. (see
Perpetua Resources News Release from October 27, 2025)
Figure 7 – 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, 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 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.
Geochemical ICP (5g) analysis for the Wilson, Christianson and Tingey report was completed by
Geochemical Services Inc. and the XRF analyses (glass disk or pellets) by Brigham Young University.
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 (“QP”) 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 ab ility to obtain all
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.