NevGold defines multiple drill targets at Nutmeg Mountain

Vancouver, British Columbia, Sept. 29, 2026 (GLOBE NEWSWIRE) -- NevGold Corp. (“ NevGold ” or the “ Company ”) ( TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50 ) is pleased to announce the results of gravity and CSAMT geophysical surveys completed at its 100% owned, oxide, heap-leachable, resource-stage Nutmeg Mountain Gold Project (the “ Project ”, “ Nutmeg Mountain ”) in Idaho. Nutmeg Mountain represents a highly prospective gold system within NevGold’s strategic Western U.S. portfolio. While the Company’s primary capital and operational focus remains firmly anchored on advancing and de-risking its flagship Limousine Butte Gold-Antimony Project, these results underscore the value and hidden upside within NevGold's broader project pipeline. The geophysical surveys have successfully identified new, high-priority drill targets focused on near-surface Mineral Resource expansion, and potential high-grade feeder structures at depth.

Key Highlights

Updated Geological Model Unlocks District-Scale Potential: Nutmeg Mountain is a low-sulphidation epithermal gold system, a deposit type where high-grade feeder structures commonly underlie disseminated near-surface mineralization (Figure 2). NevGold’s new geological model has identified six near-surface gold targets and three potential feeder structures through new geological mapping, Controlled-Source, Audio-Frequency Magnetotelluric (CSAMT), and gravity surveys (Figure 1, Figure 3, Figure 4, Figure 5).

Near Surface Targets Focused On Mineral Resource Expansion: six near-surface targets have been defined combining favourable gravity and CSAMT response, which has strong correlation to the 2025 Mineral Resource Estimate (“MRE”) of 1.19 Mozs of Indicated Resources at 0.50 g/t Au (74.2 Mt) and 548 kozs of Inferred Resources at 0.34 g/t Au (49.8 Mt) (2025 MRE Disclosure in Section below).

Feeder Targets Focu