Project Development Plan At The Advanced Stage Nutmeg Mountain Gold Project

VANCOUVER - NevGold Corp. announced the planned development activities at the advanced stage Nutmeg Mountain Gold Project following the closing of the transaction with GoldMining Inc. Nutmeg Mountain hosts a 2020 mineral resource estimate of 910,000 Indicated ounces of gold (43.5 Mt @ 0.65 g/t Au), and 160,000 Inferred ounces of gold (9.1 Mt @ 0.56 g/t Au) with significant resource expansion and exploration upside. NevGold has commenced work on Nutmeg Mountain with a core relogging program and geological model update, which will be followed by a drill program.

CEO, Brandon Bonifacio, said, “We are excited to commence work on Nutmeg Mountain and progress into our first active field program at the project, while we also continue to drill our highly prospective Limousine Butte Project in Nevada. Nutmeg Mountain is an extremely promising project with a large resource base that has significant resource expansion potential and exploration upside. We see a similar value extraction roadmap at Nutmeg Mountain like we did when we acquired Limousine Butte last year, and we will apply the same technical rigor and discipline to project advancement over the next 12 months. We have identified a clear set of objectives and milestones, and the de-risking of Nutmeg Mountain will be a key part of our valuation re-rate as we also continue to advance and de-risk Limousine Butte. It is shaping up to be an exciting period for the company.