Cadillac Valley South Discovery Expanded By Over 100 Meters To Northwest And Intercepts More Oxide Gold

VANCOUVER - NevGold Corp. reported on 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. The Company has intercepted more oxide gold at the newly discovered Cadillac Valley South area expanding the mineralized footprint by over 100 meters to the northwest. Further assays from the Company’s inaugural 10,000 meter drill program at the Project are expected to be released shortly.

Cadillac Valley South Discovery Has Expanded by Over 100 Meters to the Northwest: CV22-007 intercepted 0.44 g/t oxide Au over 36.6 meters from a drill pad over 650 meters away from CV22-002 (0.83 g/t oxide Au over 126.2 meters) and expands mineralization over 100 meters to the northwest of CV22-006 (0.51 g/t oxide Au over 73.1 meters). The Company has only drilled two holes at the Cadillac Valley South discovery and both holes have shown positive, consistent, oxide gold intercepts with many areas open for infill and delineation drilling. Cadillac Valley South is a high potential resource growth target.

Large, Open, Growing Mineralized Footprint at Cadillac Valley: the mineralized area at Cadillac Valley has further increased and now extends over 1.6 km along strike and over 450 meters laterally. Hole CV22-007 was drilled with reverse circulation (“RC”) to target an area between CV22-002 and CV22-006 to infill the open mineralized footprint. There is also another +1.5 km of untested strike length to the southwest of Cadillac Valley South.

Highly Oxidized Mineralization: oxidized mineralization has been seen in all of the holes drilled to date by the Company at Limousine Butte. The Exploration Upside is 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 continues to grow as drilling occurs along strike with large step-out holes.

CEO, Brandon Bonifacio, said, “We are continuing to build a meaningful, near-surface, high-grade oxide gold story at Limousine Butte. The two holes that we have drilled to date at the newly discovered Cadillac Valley South target area have had consistent oxide gold grades over positive intercepts and have further expanded the mineralized footprint at the larger Cadillac Valley target. The drilling at Limousine Butte over the past 12 months has shown higher grade material than many heap-leach projects in production or development in the Western USA. As previously indicated since the announcement of our option agreement on Nutmeg Mountain which closed on July 5, we will continue to aggressively and systematically advance Limousine Butte to a near-term resource. The remaining assays from our 10,000 meter drill program are expected shortly and will be released over this month.”