NevGold Announces Share Issuance Payment To GoldMining For Nutmeg Mountain Project Option

Vancouver, British Columbia, July 13, 2023 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) announces the issuance (the “Share Issuance Payment”) of 4,109,589 NevGold common shares to GoldMining Inc. (TSX:GOLD, NYSE:GLDG) (“GoldMining”) pursuant to the Nutmeg Mountain Option Agreement dated June 14, 2022 (see June 14, 2022 News Release). NevGold has the right to acquire 100% of the Nutmeg Mountain Gold Project in Idaho (“Nutmeg Mountain”). The total Share Issuance Payment of 4,109,589 shares equates to $1.5 million issued at $0.365 per share representing the 30-day VWAP share price as of market close on June 21, 2023. The Company is in the process of updating the Mineral Resource Estimate (“MRE”) at the Nutmeg Mountain project, with a targeted completion in July.

Read more at globenewswire.com