NevGold Secures C$6.0M Financing to Propel Growth Initiatives

NevGold Closes Upsized C$6.0 Million Private Placement

In a significant move for the future of the company, NevGold Corp. (“NevGold” or the “Company”) (TSXV: NAU) (OTCQX: NAUFF) (Frankfurt: 5E50) has successfully closed an upsized brokered private placement financing. This financing has generated gross proceeds of C$6 million, setting a robust foundation for the Company's ambitious plans in the mining sector.

Key Components of the Financing

The financing involved the issuance of 20 million Units at an Issue Price of $0.30 per Unit. Each Unit consists of one common share and one-half of a purchase warrant, providing participants the right to purchase additional shares at an exercise price of $0.45 until 2027. The successful arrangement was managed by Clarus Securities Inc. as the Lead Agent, working alongside Research Capital Corp. and Moneta Securities Corp.

CEO’s Insight on Future Prospects

NevGold's CEO, Brandon Bonifacio, expressed enthusiasm regarding the financing's potential. He stated, “We are thrilled to conclude this upsized financing, which positions us well for an active 2025 field season and multiple immediate value catalysts. Our primary focus will be on advancing our flagship Limousine Butte Project in Nevada and the Nutmeg Mountain Project in Idaho, while also identifying drill targets for the Zeus Copper Project in Idaho.”

Utilization of Proceeds

The Company plans to utilize the net proceeds from this Offering to advance its key projects in Nevada and Idaho. The Limousine Butte Project is particularly critical, as it explores a promising gold-antimony system, while the Nutmeg Mountain Project targets robust gold deposits. Additionally, the funds will support the advancement of the Zeus Project as part of a systematic exploration strategy.

Agent Compensation and Fees

In accordance with the terms of the Offering, the Agents received a cash commission totaling $339,669 along with non-transferable compensation options providing further financial incentives for their role in this deal. Another finder’s fee was allocated to achieve broader access to qualified purchasers, reflecting a strategic approach to investor relations.

Regulatory Compliance and Future Approvals

The Offering was conducted under applicable Canadian securities regulations, with the specific noted exemptions. The Company is poised for final approval from the TSX Venture Exchange, which marks an important step in the regulatory pathway for further developments.

About NevGold Corp.

NevGold is dedicated to mineral exploration and development within large-scale systems, notably in established mining districts of Nevada and Idaho. With 100% ownership of its key assets, including the Limousine Butte and Cedar Wash projects in Nevada and the Nutmeg Mountain and Zeus projects in Idaho, the company is well-positioned for growth in the competitive mining landscape.

Contact Information

For more detailed inquiries about NevGold, please reach out to Brandon Bonifacio via email at bbonifacio@nev-gold.com or call 604-337-4997. Comprehensive information can also be found on the company's website at www.nev-gold.com.

Frequently Asked Questions

What is the amount raised in NevGold's recent financing?

NevGold raised C$6 million through an upsized brokered private placement financing.

Who acted as the Lead Agent for the financing?

Clarus Securities Inc. served as the Lead Agent and sole bookrunner for the financing.

What projects will the proceeds from the financing support?

The proceeds will advance the Limousine Butte and Nutmeg Mountain projects as well as the Zeus Copper Project.

What are the terms of the issued Units?

Each Unit includes one common share and one-half of a purchase warrant priced at $0.45, expiring in 2027.

How can investors contact NevGold for more information?

Investors can reach out to Brandon Bonifacio through email or phone, or visit the company's official website for more details.

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