Nevgold Corp · TSXV:NAU
Nevgold — Investor Presentation (January 2026)
27 slides from Nevgold's investor presentation, January 2026
Slide 1: Corporate Presentation
Corporate Presentation (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) January 2026 Advanced Gold & Antimony projects in Nevada and Idaho Large scale Copper exploration in Idaho Right Team, Right Place, Right Time, Right Way Brandon Bonifacio, President & CEO: bbonifacio@nev-gold.com, 604-337-4997
Slide 2: Forward Looking Statements & Disclaimers
Forward Looking Statements & Disclaimers This presentation contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not a
Slide 3: Mineral Resource Estimates
Mineral Resource Estimates Nutmeg Mountain’s Mineral Resource Estimate (“MRE”) information is from the News Release dated September 18, 2025. The NI 43-101 Technical Report is filed on SEDAR+. Historical Mineral Resource Estimate – Limousine Butte Limousine Butte’s Historical Mineral Resource Estima
Slide 4: Capital Structure
Capital Structure Capital Structure & Share Ownership Shareholder Registry – January 2026 Total Issued and Outstanding 134,832,768 NevGold Insiders & Current Float Close Associates Options1 13,075,000 30% 20% Warrants 2 23,845,653 McEwen 4% Total Fully Diluted 171,753,421 Market Capitalization (Basi
Slide 5: Executive Team & Board of Directors
Executive Team & Board of Directors Experienced team and board with a proven track record of success and relevant project development experience in the Americas Executive Team Board of Directors Brandon Bonifacio • Mining executive with experience in M&A, project development, and project Giulio Boni
Slide 6: Attractive Locations – Focus on The Americas
Attractive Locations – Focus on The Americas NevGold has four promising district-scale assets in top-tier jurisdictions in the Western USA Limousine Butte (Nevada) ✓ Carlin-style gold-antimony deposit ✓ Positive, near-surface, thick, oxide gold- antimony drill results ✓ Historical 2009 Resource1: 24
Slide 7: 2025-2026 Work Program – Financed After C$10M Financing
2025-2026 Work Program – Financed After C$10M Financing NevGold has significant news flow and milestones over 2025-2026 driving a valuation re-rate Limo Butte Nutmeg Mtn. Zeus - Re-assay 50 holes - Geophysics - Geophysics - Met Testwork - ~2km drilling - 1st Phase - ~10km drilling - Engineering Expl
Slide 8: Project Benchmarking – Heap-Leach Grade & Strip Ratio
Project Benchmarking – Heap-Leach Grade & Strip Ratio • 2025 MRE at Nutmeg Mountain1 compares favorably to many projects in Western USA • Nutmeg Mountain mineralization starts at surface (strip ratio < 1.0x); strong resource continuity with a well-defined high-grade core of 1-2 g/t Au material • Lim
Slide 9: Market Valuation Comparables – THE ROADMAP
Market Valuation Comparables – THE ROADMAP • Market comparable group trades at average EV/Resource multiple of ~C$105/oz Au1 • NevGold completed 2025 MRE Update at Nutmeg Mountain → immediate re-rate potential based on this 2025 MRE ➢ By 1H-2026, the Company is focused on advancing Limo Butte to ini
Slide 10: Limo Butte – District Activity – Surrounded by Majors
Limo Butte – District Activity – Surrounded by Majors Freeport-McMoran US$33M earn-in deal with Falcon Butte Minerals on Butte Valley Porphyry • Freeport-McMoran (NYSE:FCX, US$44B mkt cap) has US$33M earn-in deal on Butte Valley porphyry for up to 80% (executed in October-2022) • Adjacent to our sou
Slide 11: Resurrection Ridge Gold/Antimony Results
Limo Butte – Resurrection Ridge Gold/Antimony Results 2025 gold-antimony results released at Resurrection Ridge; the start to unlocking the antimony value Key Highlights Resurrection Ridge Plan Map • Near-surface, high-grade, oxide gold- antimony deposit with significant 1H-2025 results • Large foot
Slide 12: Q4 2025 Bullet Zone Discovery
Limo Butte – Q4 2025 Bullet Zone Discovery Discovery of high-grade oxide antimony in new gold-antimony Bullet Zone with 2025 step-out drilling • NAU discovered Bullet Zone to the east of Resurrection Resurrection Ridge Plan Map Ridge with +150 meter step-out • Significantly expanded gold-antimony mi
Slide 13: Q4 2025 Bullet Zone Discovery
Limo Butte – Q4 2025 Bullet Zone Discovery Discovery of Bullet Zone below the older dolomite unit opens large untested areas at the Project Key Highlights Resurrection Ridge Cross Section • Two zones of mineralization intercepted (Upper Zone, Lower Zone) • Upper Zone (high-grade antimony) from surfa
Slide 14: New NevGold Geological Model
Limo Butte – New NevGold Geological Model New geological models opens up large areas at the Project for mineralization expansion Resurrection Ridge Cross Section • NevGold spent the last 3-4 years updating the geological model at Limo Butte • Validating new NevGold geological model opens up large ar
Slide 15: Q4-2025 Historical Leach Pads Sampling Program
Limo Butte – Q4-2025 Historical Leach Pads Sampling Program • Completed large sampling program in Q4-2025 on historical leach pads from gold mining operation from 1989-1990 (past production of ~110kzs of Au) • Previous operation had no focus on antimony, and was operating in less than US$400/oz Au p
Slide 16: Historical Leach Pads – January 6, 2026 Results
Limo Butte – Historical Leach Pads – January 6, 2026 Results • Opportunity for near-term antimony production; consistent antimony and gold grades throughout both historical leach pads • Crushed Leach Pad (material size=~3/4 inch): estimated tonnage based on historical records of 1.4 million to 1.7 m
Slide 17: 2025 Metallurgical Testwork Summary
Limo Butte – 2025 Metallurgical Testwork Summary • The focus of the 2025 metallurgical testwork program was to identify viable metallurgical flowsheet scenarios to recover both gold and antimony from the Project Resurrection • Two plus 20-kilogram composite samples of both drill Ridge core and surfa
Slide 18: Summary of 2025 Testwork Results
Limo Butte – Summary of 2025 Testwork Results • NAU has identified multiple viable process flowsheets to recover both the gold and antimony at Limo Butte: • Acid Leaching – preferred option, antimony metal sheets would be produced on site with less reliance on downstream processing / refining • Anti
Slide 19: Metallurgical Testwork Flowsheet Scenarios
Limo Butte – Metallurgical Testwork Flowsheet Scenarios Antimony Rich Primary and Secondary Sb Concentrate Gravity Separation Sulfide/Oxide Ore Crush (Sulfide) Oxide/Sulfide Ore Gold ore- low Sb Sulfurization Hydrometallurgy (add heat/sulfur) (Acid Leaching) Crush Flotation Neutralization ROM Crushe
Slide 20: Nutmeg Mountain
Nutmeg Mountain Asset Summary Project Summary (100% owned) Property Map • 1,724 hectares (17.2 km2): • 210 federal unpatented lode mining claims Property Size • 12 patented claims • 2 leases of private land • 80km NW of Boise on paved state highway (~1.5 hour drive); 20km east of Access town of Weis
Slide 21: Nutmeg Mountain – 2025 Mineral Resource Estimate
Nutmeg Mountain – 2025 Mineral Resource Estimate Significant upside potential to further unlock after completing 2025 MRE update • 2025 Mineral Resource Estimate base case at 0.20 g/t Au cut-off grade contains 1.2 Mozs Au Indicated and 550 kozs Au Inferred • Pit shell was calculated with US$2350/oz
Slide 22: Nutmeg Mountain – 2025 Mineral Resource Estimate
Nutmeg Mountain – 2025 Mineral Resource Estimate Near-surface, heap-leach gold deposit Key Highlights Nutmeg Mountain Sections1 • Near-surface, heap-leach gold deposit • Significant exploration upside potential laterally and at depth • Mineralization identified below $2350/oz pit- shell • High-grade
Slide 23: Nutmeg Mountain – Exploration & Resource Opportunities
Nutmeg Mountain – Exploration & Resource Opportunities Exploration and Resource Opportunities Plan View Claim Boundary • Many exploration opportunities along strike to the north and south that have not been tested by NAU or prior operators • High-grade feeder structure at depth remains key target 20
Slide 24: Zeus Copper Project
Zeus Copper Project Zeus Copper Project is located in the emerging Hercules Copper Trend Key Highlights • NevGold staked the Zeus Copper Project in 2023/2024 on the emerging Hercules Copper Trend • District activity has increased since the October-2023 copper porphyry discovery made by Hercules Meta
Slide 25: Zeus Copper Project – District Geology Map
Zeus Copper Project – District Geology Map Zeus Copper Project has the same geological signatures as the Hercules Project Key Highlights • NevGold has secured some of the most strategic, prospective ground in the emerging Hercules Copper Trend • Zeus offers the same geological signatures as Hercules
Slide 26: Zeus Copper Project – 2025 Soil Survey Results
Zeus Copper Project – 2025 Soil Survey Results Identified large soil survey anomaly with 2 key targets defined at Poseidon and Thorn Springs Key Highlights • +2.4 km copper-gold-molybdenum soil geochemical anomaly identified at the Poseidon Target on Bureau of Land Management (“BLM”) ground • +1.0 k
Slide 27: Zeus Copper Project – Zeus vs. Hercules
Zeus Copper Project – Zeus vs. Hercules Many geological similarities exist between the Zeus Copper Project and Hercules Copper Project in the District… • Zeus has similar grade, mineralization footprint and geological signatures to the discovery made by Hercules Metals at the Hercules Project 27