A Nevada Antimony-Gold Project, A Maiden Mineral Resource Estimate Coming, And C$42M In The Treasury
With drill results, metallurgical breakthroughs, and an institutional-led financing all stacked into the same six-week window, NevGold Corp. (TSXV:NAU, OTCQX:NAUFF, FRA: 5E50)) is heading into its Q2 2026 maiden antimony-gold Mineral Resource Estimate at Limousine Butte fully funded — and on a near-term U.S. critical-mineral production runway.
NEW YORK, May 13, 2026 (GLOBE NEWSWIRE) -- American News Group News Commentary — Junior gold and critical-mineral exploration cycles are usually long, capital-intensive, and uneven. Every once in a while, however, a company stacks a sequence of operational disclosures tightly enough to compress what is normally a multi-quarter narrative into a single window — drilling, metallurgy, financing, and the next catalyst all visible inside the same reporting period. Between March 12 and April 20, 2026, NevGold Corp. (TSXV:NAU, OTCQX:NAUFF, FRA: 5E50)) did exactly that.
The Company is a Vancouver-based exploration and development company with four 100%-owned projects across Nevada and Idaho: Limousine Butte (gold-antimony, White Pine County, Nevada — flagship), Nutmeg Mountain (gold, Idaho — flagship), Cedar Wash (gold, Nevada), and Zeus (copper, Idaho). Limousine Butte sits inside a Bureau of Land Management-approved Exploration Plan of Operations covering the full 68 km² property, with up to 200 acres of permitted disturbance over a 10-year term. Nutmeg Mountain continues to advance with drilling and metallurgical testwork with the objective of advancing toward a Preliminary Economic Assessment on the gold side. [1]
The April 20 Financing Headline
On April 20, 2026, NevGold announced that its previously announced C$25 million brokered private placement had been upsized to C$42 million on strong demand. [1] The upsized offering comprises 22,223,946 common shares at C$1.90, with Clarus Securities Inc. as sole agent and bookrunner. [1] The financing is expected to close on or about May 12, 2026, subject to customary regulatory and TSX Venture Exchange approvals; the common shares will be subject to a four-month-and-one-day hold period from closing. [1] Net proceeds are earmarked for advancing Limousine Butte, Nutmeg Mountain, working capital, and general corporate purposes. [1]
The upsizing represents a roughly 69% increase from the original C$25 million size — without warrants attached — which provides a useful read on institutional appetite for the underlying thesis at the current stage of the catalyst chain.
The Operational Disclosures Behind The Bid
NevGold's six-week catalyst sequence followed a logical project-development order: mobilize, drill, test, confirm, finance.
On March 12, 2026, the Company announced it had received the necessary permits and was mobilizing a drill rig to Limousine Butte to test the historical gold heap leach pads for antimony. [1] The stated objective was to advance the leach pads toward a maiden Mineral Resource Estimate by Q2 2026 and toward a near-term, at-surface antimony production scenario, with potential metal production targeted for 2027.
On March 19, 2026, NevGold disclosed Hole LB25-024 at the Bullet Zone discovery within the Resurrection Ridge target area: 11.42 g/t AuEq over 7.7 meters (2.64% Sb + 1.17 g/t Au), within a broader 4.91 g/t AuEq over 27.4 meters (1.09% Sb + 0.67 g/t Au). [2] AuEq calculations are based on assumed prices of US$3,000/oz gold and US$40,000/tonne antimony, with assumed metal recoveries of 80% gold and 75% antimony. [2]
On April 2, 2026, NevGold disclosed Phase II metallurgical testwork results on oxide antimony-gold material from the Limo Butte historical gold leach pads. Cyanide shake tests on residual leach pad material — after the antimony had already been leached out — returned average gold recoveries above 93%, with individual samples reaching 99%. Acid leach antimony extraction across the tested samples ranged from 54% to 92%, and the Company identified additional antimony mineralization at surface in a historical pre-strip waste dump. [1] The sequential process — antimony leach first, gold leach second — confirms that both metals can be recovered from the same feed stream with minimal interference between processes.
On April 9, 2026, the Company reported drill intercepts at Resurrection Ridge in the Limousine Butte district. The headline interval was 1.93 g/t gold equivalent over 100.6 meters from surface — comprising 1.07 g/t gold and 0.22% antimony — incorporating a higher-grade interval of 1.11% antimony over 6.1 meters within that broader envelope. [1] [2] CEO Brandon Bonifacio described Limo Butte as "one of the highest grade antimony projects in North America that is near-surface and oxide." [2]
On April 14, 2026, NevGold reported positive and consistent sonic drill results from the historical gold leach pads themselves. Results from the first 10 of 17 holes on the Crushed leach pad delivered 0.34% antimony with 0.41 g/t gold over 12.5 meters, 0.33% Sb and 0.55 g/t Au over 11.0 meters, and 0.31% Sb and 0.50 g/t Au over 14.6 meters — all consistent with or higher than the Phase I test pit averages of 0.27% Sb and 0.34 g/t Au. [1]
The April 20 financing capped the run.
Read the entire profile on NevGold here.
The 2026 TSX Venture 50 Recognition
In February 2026, NevGold was named a 2026 Top 50 Company by the TSX Venture Exchange — one of the top 50 performers among more than 1,500 TSXV-listed issuers, ranked using three equally weighted criteria (one-year share price appreciation, market capitalization growth, and Canadian consolidated trading value). The Company reported a 330% share price appreciation and 515% market capitalization growth in 2025, the figures that supported its inclusion. [1]
The Comparable Set: Where Investors Should Be Looking
The U.S. precious-and-critical-minerals universe spans multiple project stages and capital structures. To frame NevGold's positioning for investors, four comparables are worth tracking:
Hycroft Mining Holding Corporation (NASDAQ:HYMC) is a U.S.-based gold and silver company developing the Hycroft Mine in Humboldt County, Nevada — a property described by the company as one of the world's largest precious metals deposits. [3] Hycroft holds a +64,000-acre land package, of which less than 10% has been systematically explored. [3] In 2023, the company announced the discovery of two new high-grade silver systems within the known resource area; the 2025-2026 drill program — the largest under current management at approximately 26,000 meters of core drilling on the two high-grade silver systems plus 8,200 meters of additional work — is designed to expand those systems alongside testing new opportunities. [4] On April 21, 2026, Hycroft confirmed that WSP Global Inc. has completed engineering work on additional lifts on the tailings storage facility, and that Ausenco Engineering South USA can now complete the Initial Assessment Technical Report with economics, anticipated for completion during Q2 2026. [5] Q1 2026 net loss was $48.29 million. [4] HYMC offers a useful read on Nevada-based, district-scale gold-silver assets advancing through technical reporting milestones.
NOVAGOLD Resources Inc. (NYSE:NG, TSX:NG) is advancing the Donlin Gold project in Alaska — owned 60% by NOVAGOLD and 40% by Donlin Gold Holdings (a Paulson Advisers entity). [6] Donlin Gold hosts approximately 40 million ounces of Measured and Indicated mineral resources at 2.22 g/t — better than twice the industry average grade for gold development projects. As of February 28, 2026, NOVAGOLD ended Q1 2026 with approximately $392.5 million in cash and term deposits, after completing an upsized bought-deal private placement for net proceeds of approximately $294 million. [6] During the quarter, NOVAGOLD appointed Fluor Corporation as lead engineering firm and formally launched the Bankable Feasibility Study, which is targeted for completion in 2027. [6] Donlin Gold also signed a non-binding Letter of Intent with Glenfarne Alaska LNG to evaluate natural gas supply from the Alaska LNG pipeline for on-site power generation. [6] NOVAGOLD demonstrates that Tier-1 gold development assets in Alaska are commanding institutional capital at scale, and that BFS-stage projects with permits in good standing remain a top-tier institutional target.
Orla Mining Ltd. (NYSE:ORLA, TSX:OLA) reported Q1 2026 production of 81,206 ounces of gold across two operating mines — Musselwhite (Ontario) and Camino Rojo (Mexico) — and reaffirmed full-year 2026 guidance of 340,000 to 360,000 ounces. [8] Orla ended Q1 2026 with $96.0 million in net cash and declared its inaugural quarterly cash dividend in late 2025. [8] The company is advancing the South Carlin Complex (formerly South Railroad) — a feasibility-stage open-pit heap leach gold project on Nevada's Carlin trend. [9] Orla's relevance for NevGold is jurisdictional and structural: both companies are advancing oxide gold projects in Nevada, and Orla's South Carlin model — established heap leach infrastructure in a Tier-1 jurisdiction — is a useful read on how the market values that asset class as it advances toward construction.
Idaho Strategic Resources, Inc. (NYSE:IDR) is an Idaho-based gold producer operating the Golden Chest Mine in the Murray Gold Belt area of Idaho's Coeur d'Alene Mining District, with continuous production since 2016. [10] FY2025 results were a record: revenue rose 64.6% year-over-year to $42.4 million, net income increased 89.2% to $16.7 million, diluted EPS reached $1.14 (versus $0.67 a year earlier), and the Company ended 2025 with $73.3 million in cash and investments. Operationally, IDR produced 12,538 ounces of gold in 2025, up 5.2% from 2024, processing 41,840 tonnes of ore at an average flotation feed grade of 10.14 g/t Au. IDR also maintains a strategic position as the U.S.'s largest rare earth elements landholder, with over 18,000 acres of mineral claims in central Idaho and western Montana — including the Lemhi Pass project, recognized by the USGS as the largest domestic source of thorium resources. [10] IDR's relevance for NevGold is twofold: jurisdictional (both companies operate in Idaho, where NevGold's Nutmeg Mountain gold project is located), and structural (a production-backed exploration model where cash flow funds critical-mineral resource expansion).
The Path Forward
NevGold enters the back half of Q2 2026 with several features that are not common in its part of the market:
- Fully funded through the next inflection. The upsized C$42.2 million financing removes the near-term treasury overhang through the maiden MRE, continued drilling, and metallurgical testwork completion at Limo Butte, plus continued advancement at Nutmeg Mountain. [1]
- A maiden MRE catalyst in the immediate quarter. The Q2 2026 maiden antimony-gold NI 43-101 Mineral Resource Estimate at Limousine Butte is the next direct catalyst. [1]
- Near-term antimony production optionality, not just exploration. The historical gold leach pads at Limo Butte are already crushed, already stacked, and at surface— a brownfield setup that few peers can match.
- District-scale drill targets. NevGold added approximately 6 km² of outcropping antimony-gold targets at Limo Butte on December 17, 2025, and 2026 drilling at Limo Butte is planned for approximately 20,000 meters. [1]
- Tier-1 jurisdiction across the portfolio. Nevada and Idaho are two of the most established mining jurisdictions in North America.
NevGold has not yet established a current NI 43-101 mineral resource at Limousine Butte; the maiden MRE remains forthcoming. Investors are encouraged to review the Company's filings and qualified persons' technical disclosures via nev-gold.com before drawing conclusions. The technical information disclosed by NevGold in its 2026 news releases has been reviewed and approved by Greg French, CPG, the Company's Vice President, Exploration, who is NevGold's Qualified Person under National Instrument 43-101. [2]
For investors tracking the U.S. critical-mineral and precious-metals universe — names like HYMC, NG, ORLA, and IDR — NevGold (TSXV:NAU, OTCQX:NAUFF, FRA: 5E50)) presents a junior-stage exposure to a project that combines U.S. Critical Mineral relevance (antimony) with safe-haven commodity tailwinds (gold), at a stage where the next catalyst lands in the very next reporting window.
For more information, visit the company website at www.nev-gold.com or the American News Group NevGold profile page.
Frequently Asked Questions
Q: What is NevGold Corp.? A: NevGold (TSXV:NAU, OTCQX:NAUFF, FRA: 5E50)) is a Vancouver-based exploration and development company with four 100%-owned projects across Nevada and Idaho: Limousine Butte (gold-antimony, Nevada — flagship), Nutmeg Mountain (gold, Idaho — flagship), Cedar Wash (gold, Nevada), and Zeus (copper, Idaho). [1]
Q: What was the upsized financing announced on April 20, 2026? A: The previously announced C$25 million brokered private placement was upsized to C$42 million (22,223,946 common shares at C$1.90), with Clarus Securities Inc. as sole agent and bookrunner. The financing is expected to close on or about May 12, 2026, with a four-month-and-one-day hold period. Proceeds will be used to advance Limousine Butte, Nutmeg Mountain, working capital, and general corporate purposes. [1]
Q: What were the headline drill results at Limousine Butte? A: At Resurrection Ridge, NevGold intersected 1.93 g/t gold equivalent over 100.6 meters from surface (1.07 g/t Au + 0.22% Sb), incorporating a higher-grade interval of 1.11% antimony over 6.1 meters within that broader envelope. [1]
Q: What did the Phase II metallurgical testwork show? A: Cyanide shake tests on residual tailings — after the antimony had been leached out — returned average gold recoveries above 93%, with individual samples reaching up to 99%. Acid leach antimony extraction ranged from 54% to 92% across the tested samples. The sequential antimony-then-gold leaching process means both metals can be recovered from the same feed. [1]
Q: When is the next major catalyst? A: The maiden antimony-gold NI 43-101 Mineral Resource Estimate at Limousine Butte is targeted for Q2 2026, with near-term antimony production targeted for 2027. [1]
Q: How can I get more information? A: Visit www.nev-gold.com for corporate updates, investor presentations, and the full set of recent press releases.
Article Sources
[1] https://www.globenewswire.com/news-release/2026/04/20/3277330/0/en/nevgold-announces-upsized-42mm-brokered-private-placement-financing.html
[2] https://nev-gold.com/news/ (Apr 9, 2026 / Mar 19, 2026 NevGold drill releases — Limousine Butte / Resurrection Ridge / Bullet Zone / Hole LB25-024)
[3] https://hycroftmining.com/
[4] https://www.sec.gov/Archives/edgar/data/0001718405/000149315226008631/ex99-1.htm
[5] https://www.sec.gov/Archives/edgar/data/0001718405/000149315226018374/ex99-1.htm
[6] https://www.globenewswire.com/news-release/2026/04/01/3266567/0/en/NOVAGOLD-Files-First-Quarter-2026-Report-Highlighting-Growing-Momentum-on-Key-Donlin-Gold-Workstreams.html
[8] https://www.newswire.ca/news-releases/orla-mining-reports-first-quarter-2026-gold-production-821521800.html
[9] https://www.orlamining.com/projects/south-carlin-complex/default.aspx
[10] https://idahostrategic.com/
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