Cadillac Valley South Discovery With 650 Meter Step-Out And Intercepts Of More Oxide Gold

VANCOUVER - NevGold Corp. reported further assays from the drill program at the Cadillac Valley target area at its Limousine Butte Project, Nevada located on the southern part of the Carlin Trend. Further assays from the Company’s inaugural 10,000 meter drill program at the Project are expected over the coming months.

Cadillac Valley South Discovery Extends Mineralization 650 Meters From CV22-002: CV22-006 intercepted 0.51 g/t oxide Au over 73.1 meters from a drill pad over 650 meters away from CV22-002 (0.83 g/t oxide Au over 126.2 meters) expanding mineralization along strike to the southwest. Cadillac Valley South is an important discovery as it significantly expands the mineralized footprint at Cadillac Valley. The newly discovered area requires follow-up drilling and drillholes have been planned in the current program. Large, Open Mineralized Footprint at Cadillac Valley Continues to Grow: the mineralized area at Cadillac Valley now extends over 1.6 km along strike and over 400 meters laterally. There is also another +1.5 km of untested strike length to the southwest of CV22-006.

More Oxide Gold Mineralization Building the Path to a Near-Term Resource: Hole CV22-004 intercepted 0.63 g/t oxide Au over 73.2 meters, including 1.00 g/t oxide Au over 19.8 meters from the top of the mineralized zone, and was lost in mineralization due to ground conditions. Target depth of the hole extended another 200 meters from terminated depth. CV22-004 was angled to infill the mineralized footprint around CV22-002 (0.83 g/t oxide Au over 126.2 meters). More drilling in this area will be required to understand the extents of mineralization and drillholes have been planned in the current program. Exploration Upside: large areas of the 67 km2 Limousine Butte Project are untested and there are various identified targets based on the current Company geological model. The mineralized system is open and growing as drilling occurs along strike with large step-out holes.

Brandon Bonifacio, said, “We are continuing to build a meaningful, near-surface, high-grade oxide gold story at Limousine Butte. Intercepting another thick, continuous hole with a 650 meter step out (Hole CV22-006) significantly expands the mineralized footprint at Cadillac Valley. It is very encouraging to see new areas of potential mineralization being identified and then confirmed by drilling, and we believe this will continue as we apply the same targeting techniques project wide. The thesis is building that we have a large oxide gold system with higher grade material than many heap-leach projects in production or development in the Western USA. We have remained on budget and on schedule with our 10,000 meter drill program and expect further assays shortly.”