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NevGold Secures C$10 Million in Private Placement to Advance Critical Minerals Portfolio

NevGold Corp., a North American mineral exploration company, has successfully closed a C$10 million brokered private placement financing on November 19, 2025, providing crucial capital to advance its

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NevGold Secures C$10 Million in Private Placement to Advance Critical Minerals Portfolio

NevGold Corp., a North American mineral exploration company, has successfully closed a C$10 million brokered private placement financing on November 19, 2025, providing crucial capital to advance its portfolio of gold, antimony, and copper projects across Nevada and Idaho. The financing, which was initially announced on November 6, 2025, positions the Vancouver-based company to capitalize on growing government support for domestic critical mineral development.

The offering, conducted through Clarus Securities Inc. as sole agent and bookrunner, saw strong investor demand for the company's exploration strategy. Trading on the TSX Venture Exchange under the symbol NAU, as well as on the OTCQX under NAUFF and Frankfurt's 5E50, NevGold has emerged as a strategic player in the North American critical minerals sector at a time when government policy increasingly favors domestic resource development.

Deal Structure and Terms

The private placement consisted of units priced at C$0.65 per unit, with each unit comprising one common share and one-half of one common share purchase warrant. According to the company's official announcement, each whole warrant entitles the holder to purchase one additional common share at an exercise price of C$0.90 until November 19, 2027, representing a 38% premium to the unit price.

Deal Structure and Terms - neutral

The warrants include a notable restriction on exercise that expires on January 19, 2026, providing a 61-day hold period from the closing date. This structure is typical for listed issuer financing exemptions, which allow companies to raise capital more efficiently while maintaining certain investor protections.

"We are pleased to announce the closing of our C$10 million financing which provides the Company with a strong financial position to continue to advance its portfolio of assets," said Brandon Bonifacio, President and CEO of NevGold.

Clarus Securities received a 7.0% cash commission on the gross proceeds of the offering, along with 7.0% non-transferable broker warrants, a standard fee structure for brokered private placements in the junior mining sector. The units were offered to purchasers resident in Canada, excluding Quebec, and other qualifying jurisdictions.

Strategic Timing: The Antimony Discovery Factor

The financing comes on the heels of a significant antimony discovery at NevGold's Limousine Butte Project in Nevada. On October 16, 2025, the company announced high-grade antimony results from the Bullet Zone, positioning it as what management believes to be "one of the most advanced gold-antimony assets in the United States."

This timing is particularly strategic given antimony's designation as a critical mineral. The element is essential for defense applications, battery technology, and semiconductor manufacturing, with the United States currently importing over 80% of its antimony supply. Recent metallurgical testwork announced on November 5, 2025, demonstrated up to 85% antimony recovery rates at the Limousine Butte Project, further validating the asset's commercial potential.

"We strongly believe that we have one of the most advanced gold-antimony assets in the United States, and the timing is optimal as there is a clear commitment from the government to advance high-quality, domestic, critical mineral projects," Bonifacio stated in the company's announcement.

Capital Allocation Strategy

The C$10 million in proceeds will be deployed across NevGold's multi-asset portfolio, with priority given to three key projects:

  • Limousine Butte Project (Nevada): Advancing the emerging gold-antimony discovery, including further drilling at the Bullet Zone and continued metallurgical testing
  • Nutmeg Mountain Gold Project (Idaho): Progressing the resource-stage asset with additional exploration and evaluation work
  • Zeus Copper Project (Idaho): Advancing exploration at this highly prospective copper target

According to NevGold's corporate website, the company maintains a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, along with development projects in Idaho. This portfolio approach provides diversification across both commodity types and project stages, from grassroots exploration to resource definition.

Market Context and Investor Sentiment

The successful completion of the financing reflects growing investor interest in North American critical mineral projects. Junior mining companies have faced challenging capital markets in recent years, making the full subscription of this offering particularly noteworthy. NevGold's stock has shown significant volatility typical of exploration-stage companies, but the antimony discovery has generated renewed attention.

Strategic Timing: The Antimony Discovery Factor - positive
"The strongly supported financing is a testament to the growing NevGold platform," Bonifacio noted, highlighting increased market recognition of the company's strategic positioning.

The financing structure, utilizing the listed issuer financing exemption, allowed NevGold to access institutional and accredited investors efficiently while maintaining compliance with Canadian securities regulations. The exclusion of Quebec residents is standard practice due to that province's distinct securities regulatory framework.

Government Policy Alignment

NevGold's emphasis on domestic critical mineral development aligns with evolving government priorities in both the United States and Canada. The company's management highlighted "a clear commitment from the government to advance high-quality, domestic, critical mineral projects," referencing initiatives aimed at reducing dependency on foreign mineral supplies, particularly from China, which dominates global antimony production.

This policy tailwind could prove significant for project permitting and potential government support programs. The U.S. Defense Production Act and various critical minerals initiatives have created a more favorable environment for domestic exploration and development companies working on strategic minerals like antimony, copper, and gold.

The Limousine Butte Project's location in Nevada, a mining-friendly jurisdiction with established infrastructure and regulatory frameworks, further enhances its development prospects. Nevada's track record of major gold production and supportive political environment make it an attractive destination for mineral investment.

Industry Implications and What's Next

The successful closing positions NevGold to advance its exploration programs through 2026 and potentially beyond, depending on results and capital efficiency. Industry observers will be watching for drilling results from the Limousine Butte Project, particularly any expansion of the high-grade antimony mineralization at the Bullet Zone.

For the junior mining sector more broadly, NevGold's financing success demonstrates that investors remain willing to back companies with strategic assets in critical minerals, especially those aligned with government policy priorities. The antimony angle, in particular, differentiates NevGold from pure-play gold explorers and provides exposure to a market with strong supply-demand fundamentals.

The warrant structure provides built-in optionality for investors, with the C$0.90 exercise price representing a meaningful upside scenario if exploration success continues. Should the company deliver positive drilling results or advance any of its projects toward preliminary economic assessments, the warrants could provide additional non-dilutive capital through their November 2027 expiry.

With approximately 15.4 million units issued in the financing, NevGold has secured a meaningful financial runway while maintaining reasonable dilution for existing shareholders. The company's next milestones will likely include updated drilling programs, resource expansion work, and continued metallurgical optimization at Limousine Butte.

As critical mineral supply chains continue to evolve and governments prioritize domestic production capabilities, companies like NevGold with advanced-stage North American assets may find themselves increasingly well-positioned for strategic partnerships, joint ventures, or M&A activity from larger mining companies or industrial consumers seeking secure mineral supplies.

Capital Allocation Strategy - positive

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