NevGold intercepts 0.53 g/t Au oxide over 74.7 meters and extends mineralized footprint over 100 meters at Resurrection Ridge, The Canadian Business Journal

VANCOUVER, British Columbia, November 11, 2022 (GLOBE NEWSWIRE) —

News release video: NevGold has completed a short video explaining the drilling results that can be seen here.

NevGold Corp. (“neb gold” or “Company”) (TSXV: NAU) (OTCQ.X: Nof) (Frankfurt:5E50) is pleased to announce further analysis results from its drilling program at the Resurrection Ridge target area of ​​the Limousine Butte Project (the “Project”), Nevada, located south of the Carlin Trend. Further analysis from our first 10,000 meter drill program on the project is expected soon.

major highlights

• more shallow gold oxide mineralization Build a path to short-term resources: Intercept Hall RR22-001 0.Five3 g/t oxidized Au over 74.7 metersinclude 0.81 g/t oxide Au 1 or more9.9 A few meters from the top of the mineralization zone; Hall makes a crucial step out of intercepted LB22-004 2.19 grams/ton oxide Oh 61.6 meters or more include 8.51 grams/ton oxide Au 11.6m or more. (Published February 8, 2022). Additionally, LB21-005 extended the mineralized footprint to depth in a hole located more than 100 meters northeast of LB21-004.
• big, Open MineralizEd footprint on the ridge of resurrection keep growing: The current mineralized area of ​​Resurrection Ridge is currently 700 meters along the strike over- 350 meters SidewaysThere is also another +1.0 km untested strike length To northeast Drilling at LB21-005 (Figure 1) will be an important focus of drilling at the Resurrection Ridge to further expand the mineralized footprint.
• shortly-S.surface mineralization under shallow cover: Mineralization at Resurrection Ridge begins at a vertical depth of approximately 20 to 60 meters below the surface.
• Highly oxidized mineralization: Oxidized mineralization has been seen in every hole the company has drilled to date at Limousine Butte.

neb gold CEO Brandon Bonifacio commented: “we are excited about further away positive result Received from Resurrection Ridge, along with our recentliberated Drill result From the Cadillac Valley target area.The resuscitation ridge continues to expand to the northeast When currently defined area 700+ meters along strike, 350+ meters laterally, When have all the signatures of Near surface, oxideheap reach Money ore body. With the expansion of mineralization to the northeast, we enthusiastic keep stepping out excavation there are other further away 1.0 kilometer of untested strike length. we have importantrye expanded Mineralized footprints in both Resurrection Ridge and Cadillac Valley with this drill program and these 2 target areas The basis for the evolving limousinealready taken Butte to short-term resources Quote.”

neb gold VP Exploration, Derrick Anger,comment: “eyeNew drilling at Resurrection Ridge expands the mineralized footprint and confirms geological models. mineralization continue northeast. We believe that this field is particularly promising. The outcrop is old dolomites that Blamed for favorable pilot shale host rock. Excavation under the Dolomites has not been completed.you work like of impermeable cap cwas Hides mineralization.test area When Potential for Hidden mineralization is the key to unlock Save even more with Limousine Butte Expanding Mineral system For the purpose of promoting towards multimillion ounces resource base.”
drill result

Hall ID	Length, m*	g/t Au	from, meters	ni, m	material	Target area
LB21-001**	44.4	1.30	23.3	67.7	oxide	Ridge of Resurrection
include	11.1	3.11	26.7	37.8
LB21-002**	78.9	0.65	39.3	118.3	oxide	Ridge of Resurrection
include	25.0	1.45	49.7	74.7
LB21-003**	37.8	1.17	44.8	82.6	oxide	Ridge of Resurrection
include	11.3	2.99	68.6	79.9
LB21-004**	61.6	2.19	81.7	143.3	oxide	Ridge of Resurrection
include	11.6	8.51	116.7	128.3
LB21-005	82.7	0.21	64.5	147.2	oxide	Ridge of Resurrection
include	20.2	0.35	64.5	84.7
RR22-001	74.7	0.53	91.4	166.1	oxide	Ridge of Resurrection
include	19.9	0.81	91.4	111.3

* Downhole thickness reported.The true width is the drill hole dip and teeth about 70～ 90% of downhole thickness.
** drill result from core hole LB21-001 To lb21-00Four wEh release date February 8, 2022. H.Ole LB21-005 was excavated When corehOle RR22-001 was drilling with reverse–circulation (“RC”).

Figure 1 – Top view of drill padAssay released in Ridge of Resurrection outlineis doing mineralized system 700 meters northeast to southwest and above 350 meters Sidewayswith an additional +1.0 km untested strike length to the NE. red Overview represents Au zone of greater than 0.1 defined from g/t present and history excavation.
Click here to view image

Figure 2 – long section Looking northwest finished Ridge of Resurrection. red outline represents the Au zone of greater than 0.1 defined from g/t present and historic excavation. The dashed orange line representss Areas with potential for further mineralization.

Click here to view image

shape 3 – Plan view of Limousine Butte business Overview of major targets area When Other projects in the district owned and operated Freeport – MakmorofCentara Goldand Ridgeline Minerals.
Click here to view image

On behalf of the Board of Directors

“signed”

Brandon Bonifacio, President and CEO
Please contact Brandon Bonifacio for more information. [email protected]604-337-4997 or visit our website at www.nev-gold.com.

Sampling methodology, chain of custody, quality control and quality assurance: All sampling was performed under the supervision of company geologists, with continuous oversight of project management to an independent sample preparation facility, American Assay Labs (Sparks, Nevada). The samples were crushed, ground, and the sample pulp analyzed using industry standard fire analysis methods. Blank certified reference materials were inserted approximately every 20 times.^th Samples, and duplicates of the field were collected and analyzed approximately every 20.^th sample. Data validation of analytical results included statistical analysis of standards and blanks that had to pass certain parameters for acceptance to ensure accurate and verifiable results.

The technical information contained in this news release was prepared by Derick Unger of CPG, our Vice President of Exploration, NevGold qualified under National Instrument 43-101 and responsible for the technical matters of this release. Confirmed and approved.

about Company
NevGold is an exploration and development company for large mineral systems in proven districts of Nevada, Idaho and British Columbia. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada and the Termigan Silver Polymetal project in southeastern British Columbia, and acquired 100% of the Nutmeg Mountain gold project in Idaho have the option to

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Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements that are based on our current expectations and estimates. Forward-looking statements include “plans,” “expects,” “anticipates,” “intends,” “believes,” “anticipates,” “estimates,” “suggests,” “suggests,” etc. It is often characterized by the termor a statement that a particular event or condition “may” or “will occur”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and actual events or results may not be implied or represented in such forward-looking statements. Estimates or anticipated events or results may differ materially. Forward-looking statements speak only as of the date they are made, and the Company disclaims any intention or obligation to update any forward-looking statements, except as required by applicable securities laws. To do. as a result new information, future event or result or other. Forward-looking statements are not guarantees of future performance and due to the inherent uncertainties, undue reliance should not be placed on such statements.

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