NevGold Announces 100% Acquisition of Nutmeg Mountain After Final Share Issuance Payment To GoldMining

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Vancouver, British Columbia, Jan. 19, 2024 (GLOBE NEWSWIRE) — NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) announces the issuance (the “Share
Issuance Payment”) of 10,000,000 NevGold common shares to GoldMining Inc. (TSX:GOLD, NYSE:GLDG) (“GoldMining”) pursuant to the Nutmeg Mountain Option Agreement dated June 13, 2022 (see June 14, 2022 News Release). The total Share Issuance Payment of 10,000,000 shares equates to $3.0 million issued at $0.30 per share representing the 30-day VWAP share price as of market close on December 18, 2023.