Nevgold Announces Up To 99% Gold Recovery From Phase II Metallurgical Testwork On Oxide Antimony-Gold Identifies More Antimony Mineralization At Surface In Historical Gold Waste Dump

(MENAFN- GlobeNewsWire - Nasdaq) Vancouver, British Columbia, April 02, 2026 (GLOBE NEWSWIRE) -- NevGold Corp. (“ NevGold” or the“ Company”) ( TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50 ) is pleased to announce further metallurgical testwork results on the residual tailings material from the positive Phase II antimony (“Antimony”,“Sb”) testwork included in the November 5, 2025 News Release. The residual tailings material from the antimony leaching process had remaining gold mineralization, and went through a second sequential stage of leaching testwork focused on gold. The positive sequential antimony and gold leaching results highlight the exceptional geo-metallurgical characteristics of the oxide antimony-gold Limousine Butte Project (the“Project”,“Limo Butte”) in Nevada, one of the world's prolific mining jurisdictions. As the Company has stated in previous News Releases, and has now confirmed with testwork results, the antimony recovery process with conventional leaching methods has minimal to no impact on gold recoveries.

The Company is also pleased to announce the identification of additional antimony mineralization at surface in the historical pre-strip waste dump situated adjacent to the past-producing Golden Butte pit (see Figure 1, 2, 3). Phase I sampling has been completed with assays pending. The identified antimony mineralization in the pre-strip waste dump is another potential source of at-surface antimony material at the Project.

NevGold CEO, Brandon Bonifacio, comments:“The results from our Phase II antimony and gold metallurgical testwork shows that leaching in sequence on antimony and gold works favorably as we have envisioned and guided to over the past 12 months. This is a key step in optimizing the metallurgical flowsheet to recover antimony and gold at Limo Butte. Since we have oxide antimony-gold mineralization, with two distinct, separate mineralizing events that initially deposited gold and then antimony, we are able to achieve high recoveries on both minerals with a simple, sequential leaching flowsheet. Most global antimony projects are sulphide and produce an antimony concentrate, which adds significant complexities to the operation, cost structure, recovery of minerals, and concentrate marketing. We are fortunate that Limo Butte has a large, near-surface footprint of oxide antimony-gold mineralization which is amenable to leaching, and we have the opportunity to produce both antimony and gold metal at the project site. Limo Butte continues to distinguish itself from other antimony projects globally with its unique geo-metallurgical characteristics and simple, leach processing flowsheet.”

Bonifacio continues:“It is also encouraging that we have identified another potential source of at-surface antimony in the historical pre-strip waste dump from the past-producing gold mine which did not have a focus on antimony. This would be additional antimony material at surface further to the historical leach pads. We have also completed the drill program on the historical leach pads, and the Mineral Resource Estimate (“MRE”) is on track for Q2-2026.”

Key Highlights

• Average gold recovery greater than 93% from the Phase II gold cyanide shake leach tests on the residual tailings from the antimony leaching stage (results in Table 2):

• • Sample 102751 B achieved 93% to 97% gold recovery
  • Sample 102750 B achieved 82% to 99% gold recovery
  • Sample 102749 B achieved 94% to 97% gold recovery
  • Sample 102752 B achieved 93% to 98% gold recovery
  • Sample 101178 B achieved 95% to >99% gold recovery
  • Sample 101179 B achieved 82% to 94% gold recovery

• Based on testwork results, leaching is the preferred metallurgical process for both antimony and gold

• • Antimony recovery has minimal to no impact on the gold recovery in a potential combined antimony-gold mine scenario

• Further to the historical gold leach pads, NevGold has identified more visible antimony mineralization at surface (see Figure 1, 2, 3) in the historical pre-strip gold waste dump

• • Phase 1 sampling of historical waste dumps completed with assays pending

• Sonic drill program on historical gold leach pads is completed (~35 holes)

• • MRE on historical leach pads is tracking to early Q2-2026
  • MRE on historical leach pads is key step in the development of near-term antimony production scenario at the Project

Limo Butte Planned 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);

• Advancing metallurgical testwork (ongoing);

• Continuing to drill test gold-antimony targets (5,000 meters (30 drillholes) completed, a further 20,000 meters is planned in 2026 focused on the Bullet Zone and Armory Fault discoveries);

• Advancing the Crushed and Run of Mine (“ROM”) leach pads to near-term antimony production (Drilling March-2026, MRE beginning of Q2-2026, ongoing metallurgical testwork);

• Completing initial gold-antimony Mineral Resource Estimate (MRE) (in progress).

• Advancing state and federal permitting, prioritizing the near-term antimony processing of the historical gold leach pads that do not require mining (in progress).

Summary of Antimony and Gold Metallurgical Testwork Program
The antimony-gold zones at Limousine Butte are typically associated with silicification and the formation of jasperoid breccias within the Pilot Shale unit, which is the primary host rock for Carlin-type gold-antimony mineralization in the area.

Composite samples of 20-kilogram were sent to the Kappes, Cassiday & Associates laboratory (KCA) in Reno, Nevada, for initial antimony recovery metallurgical test work. The core samples were composed of material from the Resurrection Ridge and Cadilac Valley target areas ranging from 64 meters to 377 meters deep. The surface outcrop sample was taken from several outcrops in the historically mined Golden Butte pit, and the nearby Nevada Antimony Mine prospect. Both the surface and core samples contained antimony oxide with minor antimony sulphide minerals. Head assays for the composite samples are summarized in Table 1.

Following the leach testing for antimony, the residual tailings were utilized for cyanide shake tests for gold extraction. Cyanide shake tests were conducted using portions of the pulverized tails material. These test results provide indications of cyanide soluble metal extractions from pulverized material.

KCA Sample #	Description	Average Au g/t	Average Ag g/t	Average Sb %
102751 B	Lower Sb	0.44	1.17	0.20%
102750 B	Mid Sb 2	1.86	3.13	0.41%
102749 B	Mid Sb 1	0.58	0.47	0.75%
102752 B	Surface Sb	0.51	1.54	1.44%
101178 B	Limo Core Sb	0.89	2.64	3.92%
101179 B	Limo Surface Sb	0.27	1.13	7.96%

Table 1 – Head Assay of test material characteristics from Limo Butte.

Metallurgical Testwork Results – Summary

KCA Test #	Description	Test Type (Antimony Leach)	Calc. Head, % Sb	Sb Extracted %	Residual Tails, g/t Au	Au Extracted %
102751 B	Lower Sb	Acid – Lower	0.13	85	1) 0.39 g/t 2) 0.41 g/t 3) 0.43 g/t	1) 97% 2) 93% 3) 94%
102751 B	Lower Sb	Acid – Higher	0.17	71
102750 B	Mid Sb 2	Acid – Lower	0.35	61	1) 1.37 g/t 2) 1.83 g/t 3) 1.91 g/t	1) 82% 2) 99% 3) 97%
102750 B	Mid Sb 2	Acid – Higher	0.43	54
102749 B	Mid Sb 1	Acid – Lower	0.59	66	1) 0.49 g/t 2) 0.60 g/t 3) 0.54 g/t	1) 94% 2) 97% 3) 96%
102749 B	Mid Sb 1	Acid – Higher	0.63	62
102752 B	Surface Sb	Acid – Lower	1.50	69	1) 0.45 g/t 2) 0.50 g/t 3) 0.52 g/t	1) 98% 2) 93% 3) 93%
102752 B	Surface Sb	Acid – Higher	2.09	71
101178 B	Limo Core Sb	Acid – Higher	4.67	92	1) 0.88 g/t 2) 0.98 g/t 3) 1.09 g/t	1) 95% 2) 96% 3) >99%
101179 B	Limo Surface Sb	Acid – Higher	8.41	75	1) 0.28 g/t 2) 0.30 g/t 3) 0.39 g/t 4) 0.25 g/t	1) 94% 2) 93% 3) 83% 4) 82%

Table 2 – Summary of Phase II metallurgical testwork including acid leach tests (addition of H2SO4/HCL) for antimony, and cyanide shake leach tests for gold.

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Figure 1 – Drone picture at Limo Butte looking north with newly defined antimony mineralization at surface in historical pre-strip waste dump, historical Crushed and Run-of-Mine leach pads, Golden Butte pit, and Resurrection Ridge target. To view image please click here
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Figure 2 – Drone picture at Limo Butte looking northeast with newly defined antimony mineralization at surface in historical pre-strip waste dump adjacent to the historically mined Golden Butte pit. To view image please click here
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Figure 3 – Picture looking at the waste dump, with an example of identified antimony mineralization in pre-strip waste dump material. Rock hammer for scale. To view image please click here
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Figure 4 – 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..., call 604-337-4997, or visit our website at .

Sampling Methodology, Chain of Custody, 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 metallurgical work was carried out by Kappes, Cassiday and Associates based in Reno, Nevada. Head assays were ground to 80% passing 0.075mm and analyzed by standard 30g gold fire assay and multi-elemental analysis ICP-OES methods. Antimony leach test samples were milled to 80% passing 0.045mm. The acid leach tests were leached at 80^oC for 8 hours. Gold cyanide shake leach tests were conducted using portions of the pulverized tails material after the antimony leaching.

The Company's Qualified Person (“QP”), Greg French, Vice President, Exploration has completed a review of the historical data in this press release. 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.

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 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 ability 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.

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