Nevada explorer defines major U.S. domestic ammunition metal source

The U.S. Cannot Make Its Own Ammunition Metal; A Nevada Explorer Just Defined One of America's Largest Domestic Sources of It

PR Newswire

Issued on behalf of NevGold Corp. (TSXV: NAU) (OTCQX: NAUFF) (Frankfurt: 5E50)

VANCOUVER, BC , Aug. 3, 2026 /PRNewswire/ -- Equity Insider News Commentary - Antimony is not a metal most investors think about, but the U.S. government thinks about it constantly. It hardens the lead in ammunition, it is essential to flame retardants, night-vision gear, and infrared sensors, and it has no easy substitute in many defense applications. It is also a metal the United States has not mined domestically at scale since the early 1990s, leaving the country roughly 85% import-reliant for a material the Pentagon treats as strategic, at a moment when China, Russia, and Tajikistan control the overwhelming majority of global supply and China has restricted exports. Into that gap steps NevGold Corp. (TSXV: NAU) (OTCQX: NAUFF) (Frankfurt: 5E50), which has just defined one of the largest strategic antimony resources in the country, with gold alongside it.

On July 15, 2026, NevGold announced its maiden gold-antimony Mineral Resource Estimate for the Limousine Butte Project in Nevada, and the numbers are substantial for a first pass. The estimate defined 29,600 tonnes of antimony in the Measured and Indicated categories at 0.26%, plus 48,100 tonnes Inferred at 0.18%, alongside 181,400 ounces of gold Measured and Indicated and 1,203,500 ounces Inferred. CEO Brandon Bonifacio called it a monumental milestone, describing it as one of the largest, most strategic antimony-gold resources in the United States. What makes the resource unusual is not just its size but its setting: Limo Butte is a brownfield, past-producing site with near-surface oxide mineralization amenable to heap leaching, the kind of geology that can shorten the distance between a resource and actual production.

That production angle is the heart of the NevGold thesis, and it is what separates the company from the many explorers chasing critical minerals that remain a decade from any output. NevGold has framed a two-track approach at Limo Butte: a near-term path aimed at producing antimony from historical gold leach pads, which the company has targeted as early as 2027, and a longer-term conventional development path across the broader oxide gold-antimony system. The near-term leach-pad concept matters because it targets material that has already been mined and stacked, potentially allowing the company to generate strategic antimony units on a timeline measured in a couple of years rather than the better part of a decade that greenfield mines typically require.

The strategic backdrop has rarely been more supportive. Antimony was thrust into the headlines when China moved to restrict exports, and prices spiked to record levels above US$59,000 per tonne in mid-2025 before easing as new supply responded. Washington has answered with money and policy: the Defense Logistics Agency has moved to stockpile the metal, the Department of War has funded domestic antimony projects, and antimony sits on every serious U.S. critical-minerals list. Yet despite hundreds of millions of dollars in committed federal support across the sector, analysts note that no new domestic antimony mine is expected to reach production before the late 2020s, which leaves a multi-year window in which the country remains dangerously dependent on adversarial supply. A brownfield project promising near-term units speaks directly to that window.

Gold is the other half of the story, and it is doing NevGold no harm. With gold trading around record levels, the roughly 1.4 million ounces of gold across all categories at Limo Butte are not a byproduct to be ignored, they are a second reason to build. Heap-leachable oxide gold is among the cheapest gold to produce, and in a record price environment it can underwrite the economics of a project whose strategic value lies in antimony. That dual-metal profile, a critical defense mineral plus cash-flow gold, is what gives the Limo Butte story its balance: the antimony supplies the national-security narrative and the potential government tailwind, while the gold supplies the more conventional path to revenue.

None of this makes NevGold a sure thing, and the company's stage demands the usual cautions. A maiden resource estimate is an early milestone, not a mine; it precedes the metallurgical test work, engineering studies, permitting, and financing that stand between a resource and production, and the near-term leach-pad concept still has to be proven at commercial scale. But NevGold has done the thing that matters most for an explorer in this space: it has put a large, strategically relevant resource on the board, in the right jurisdiction, aimed at the exact supply gap the U.S. government is scrambling to close, with a gold credit to help pay for it.

The Field Racing to Rebuild U.S. Critical-Mineral Supply

NevGold is an explorer-developer, but the theme it is chasing, secure domestic supply of defense-critical minerals, is drawing capital across metals and across the size spectrum. The four companies below are referenced solely as market and sector context. They are far larger and further along than NevGold, are not peers, competitors, or financial comparables of NevGold Corp., and their results are not indicative of NevGold's prospects. All figures are approximate and subject to change.

Almonty Industries (NASDAQ: ALM) is the closest thematic sister to NevGold's antimony thesis, a Western tungsten producer whose Sangdong mine in South Korea began processing in 2026, transitioning the company to revenue operations. Tungsten, like antimony, is a China-dominated, defense-critical metal on the same policy track, and Almonty was added to the Russell 1000 and 3000 indexes as it scaled, with expanded offtake agreements and a strategic U.S. positioning. Almonty shows what the market will pay for a Western producer of a strategic, China-dominated metal, which is the category NevGold's antimony would join.

Trilogy Metals (NYSE American: TMQ) is advancing the Upper Kobuk critical-minerals projects in Alaska, and it has become a clear expression of the U.S. government's willingness to back domestic supply, drawing a Department of War investment, FAST-41 permitting status, and a coordinated federal-and-state roadmap for its Ambler district. Trilogy illustrates the policy tailwind now flowing to strategically located North American critical-minerals projects, the same current NevGold is trying to catch with a defense metal in a top-tier U.S. jurisdiction.

Skeena Resources (NYSE: SKE) is a British Columbia gold-silver developer advancing the past-producing Eskay Creek project toward production, fully permitted and funded with a large financing package, with initial output targeted for 2027. Skeena is included as a reference on the gold side of NevGold's story: it demonstrates how a high-grade, past-producing North American gold asset can be de-risked and re-rated, the kind of brownfield-to-production arc NevGold hopes its own oxide gold can help fund.

G Mining Ventures (TSX: GMIN) is a fast-growing gold producer that has moved rapidly from developer to operator in the Americas, and it has been among the stronger performers on Canadian gold-stock watchlists as it scales into the record price environment. G Mining rounds out the picture of where gold capital is flowing, toward credible teams turning defined resources into production, and underscores the value the market ultimately assigns to ounces that make it all the way to a mine, which is the destination NevGold's gold-antimony resource is aimed at.

What to Watch

The near-term markers for NevGold are clear. The company has said it will follow the maiden resource with the metallurgical test work and engineering studies needed to advance both tracks at Limo Butte, and the single most important catalyst is progress on the near-term antimony-from-leach-pads concept, the piece that could turn a strategic resource into strategic units on a differentiated timeline. Watch as well for any federal engagement, given how actively the U.S. government is funding domestic antimony, and for continued drilling to grow and upgrade the resource.

The macro setup is doing much of the work. Antimony remains a genuine national-security vulnerability with no near-term domestic supply, gold is near record highs, and the policy machinery to support domestic critical-mineral production is already running. A large, brownfield, dual-metal resource in Nevada aimed squarely at that gap is exactly the kind of asset this environment is built to reward, provided the company can convert it. That conversion, from a maiden resource to demonstrated production, is the work ahead, and it is neither quick nor guaranteed. But NevGold has given itself a genuinely differentiated starting point, and in a market this focused on secure supply, that is a story worth following.

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Article Source:

NevGold Corp., "NevGold Announces Mineral Resource: Antimony of 29,600 Tonnes Measured & Indicated (0.26%) and 48,100 Tonnes Inferred (0.18%); 100% Oxide Gold of 181,400 ozs Measured & Indicated and 1,203,500 ozs Inferred; Strategic U.S. Antimony Resource," July 15, 2026.

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Qualified Person and Mineral Resource Cautionary Note. The scientific and technical information regarding the Limousine Butte Project is derived from NevGold Corp.'s public disclosure and its July 15, 2026 news release and associated technical disclosure, which should be reviewed in full, including the name and independence status of the Qualified Person and the key assumptions, parameters, and methods underlying the Mineral Resource Estimate. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that any part of a mineral resource will be converted into reserves or that near-term antimony production from historical leach pads will be achieved. The Company has not completed a feasibility study or production decision on the Project. Statements regarding potential production timing, metallurgy, permitting, government support, and future development are forward-looking and subject to exploration, technical, permitting, financing, and commodity-price risks. Commodity prices, market forecasts, and policy developments cited describe the sector generally and are third-party estimates subject to change.

Cautionary Note Regarding Referenced Companies. References to Almonty Industries, Trilogy Metals, Skeena Resources, and G Mining Ventures are provided solely as market and sector context. Those companies are not peers, competitors, or financial comparables of NevGold Corp., and differ substantially in size, stage, capitalization, metals, and business model. Their projects, funding, government support, and share performance describe those companies only, are not indicative of NevGold Corp.'s prospects or results, and must not be relied upon in evaluating the profiled company. No partnership, affiliation, or endorsement is implied.

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August 3, 2026 - 6:15 AM PDT

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