On November 19, 2025, NevGold Corp. (“NevGold”) announced the closing of its brokered private placement financing (the “Private Placement”) of 15,384,614 units (each, a “Unit”) at a purchase price of $0.65 per Unit for aggregate gross proceeds of $10,000,000 to NevGold. Each Unit was comprised of one common share in the capital of NevGold (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one common share of NevGold (a “Warrant Share”) at an exercise price of $0.90 per Warrant Share until November 19, 2027. The Warrants are subject to a restriction on exercise that expires on January 19, 2026. Clarus Securities Inc. was sole agent and bookrunner for the Private Placement.

The Private Placement utilized the listed issuance financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemption and the Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issued to purchasers in reliance on this prospectus exemption are not subject to a hold period pursuant to applicable Canadian securities laws. In connection with this exemption, NevGold filed on SEDAR+ the Form 45-106F19 offering document, which provides a short description of the business of NevGold and the terms of the Private Placement.

NevGold is an exploration and development company targeting large-scale mineral systems in the districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte (gold-antimony) and Cedar Wash (gold) projects in Nevada, and the Nutmeg Mountain (gold) and Zeus (copper) projects in Idaho.

Further details regarding NevGold and the financing can be found on NevGold’s website. NevGold trades under the symbol “NAU” on the TSX Venture Exchange.