NEVGOLD INTERCEPTS 0.80 G/T AU OVER 51.5 METERS FROM SURFACE INCLUDING 1.40 G/T AU OVER 11.3 METERS FROM 10 METERS DEPTH, AND ANNOUNCES PLANS TO UPDATE THE MINERAL RESOURCE ESTIMATE AT NUTMEG MOUNTAIN

Key Highlights More Gold Intercepted from Surface That Suggests The Project Will Be Amenable To Heap Leach Processing: the Company obstructed 80 g/t Au over 51.5 meters from Surface (oxide), consisting of 1.40 g/t Au over 11.3 meters from 9.8 meters depth (oxide) (Hole NMD0004). Assays are pending for the staying approximate 130 meters of this hole. Metallurgical Testwork Has Commenced: Hole NMD0004 was drilled to begin metallurgical testwork at the Project. The Company has actually engaged McClelland Laboratories out of Sparks, Nevada. The focus of the metallurgical testwork is to assess optimization chances associated with grinding, comminution, and healing techniques. Structure Large, Near Surface, Mineralized Footprint: other drill results launched from the 2023 drill program consist of 72 g/t Au over 79.3 meters from 10.4 meters depth (oxide), consisting of 2.32 g/t Au over 13.4 meters from 25.6 meters depth (oxide) (Hole NMD0003), and 0.56 g/t Au over 23.9 meters from 24.1 meters depth, consisting of 0.89 g/t Au over 11.4 meters from 25.6 meters depth with 4.33 g/t Au obstructed near the bottom of the hole (Hole NMD0001, hole was lost in mineralization) (See press release from April 13, 2023). Present Drill Program Update: the orientated core drilling part of the drill program is now total, and the program will move to Reverse Circulation (“RC”) drilling. Advancing Mineral Resource Estimate: the Company is well-advanced in finishing an existing MRE at the Project, with targeted conclusion in early July. NevGold CEO, Brandon Bonifacio, remarks: “The additional arise from our inaugural drill program at Nutmeg Mountain continue to highlight the at-surface, oxide gold mineralization at the job that we prepare for will be open to load leach processing. Drillhole NMD0004 will likewise be used for the beginning of metallurgical testwork with concentrate on optimization chances in the grinding and comminution location. We are anticipating the staying approximate 130 meters of assays pending from Drillhole NMD0004, which is at the assay laboratory going through additional testwork. We are likewise pleased to reveal that we are advanced in finishing a present Mineral Resource Estimate at Nutmeg Mountain, with targeted conclusion in early July. Nutmeg Mountain is among extremely couple of oxide gold, heap-leach tasks of scale and grade with mineralization beginning at surface area in the Western USA.” Drill Results Hole ID Length, m * g/t Au From, m To, m Comment NMD0001 ** 23.9 0.56 24.1 48.0 hole ended in mineralization consisting of 11.4 0.89 25.6 37.0 NMD0001a ** 53.3 0.20 29.0 82.3 bad core healing NMD0001a ** 24.2 0.28 135.2 159.4 bad core healing NMD0002 ** 10.0 0.16 4.8 14.8 obstructed approximately 0.43 g/t Au to 93.6 m NMD0003 ** 79.3 0.72 10.4 89.6 consisting of 13.4 2.32 25.6 39.0 NMD0004 51.5 0.80 0.0 51.5 consisting of 11.3 1.40 9.8 21.0 128.5 pending 51.5 180.0 Assays pending * Downhole density reported; real width differs depending upon drill hole dip and is roughly 70% to 90% of downhole density. All holes were finished with core drilling. Any obvious mistakes in math are because of rounding. ** Assays launched on April 13, 2023. Figure 1– Cross-section looking east through Nutmeg Mountain with US$ 1500/oz Au pit shell from the 2020 historic resource quote detailed in red (Note 1). Red periods on NMD0004 represent Au intercepts of higher than 0.20 g/t Au. Orange rushed line represents location with expedition advantage. To see image please click on this link Figure 2– Plan view map of Nutmeg Mountain with drill collar places. Yellow line details the task limit, with green shading specifying the unpatented Bureau of Land Management (“BLM”) declares that have actually been allowed through the Exploration Notice. The staying unshaded locations are trademarked claims and personal leases which can be drilled under various standards. Mineralization consisted of within the US$ 1500/oz Au pit shell from the Historical 2020 Resource is described in red (Note 1). To see image please click on this link Figure 3– Core Photos– NMD0004 from 12.2 meters to 13.7 meters (40 to 45 ft.), consisted of in the zone that assayed 11.3 meters of 1.4 g/t Au. To see image please click on this link Updated Mineral Resource Estimate The Company has actually engaged Global Mineral Resource Services from North Vancouver, Canada to finish the MRE at Nutmeg Mountain. Targeted conclusion of the MRE is early July. Geology Summary Hole NMD0004 was a metallurgical drillhole and based upon the core logging finished, the hole reveals strong oxidation in the mineralized zone. The hole was divided into quarters, and part of the hole was sent out to McClelland Laboratories in Sparks, Nevada to begin metallurgical testwork. The focus of the brand-new testwork program is to methodically enhance the historic metallurgical information with concentrate on grinding, comminution, and optimum healing approaches. The rest of assays from Hole NMD0003 were gotten. In addition to the formerly revealed 0.72 g/t Au over 79.3 meters from 10.4 meters depth, the hole consisted of m
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