Vancouver, British Columbia--(Newsfile Corp. - October 20, 2026) - NV Gold Corporation (TSXV: NVX) (OTCQB: NVGLF) ("NV Gold" or the "Company") is providing an update to its initial 2026 drill results from its 100%-owned Slumber Gold Project ("Slumber"), located 70 kilometers (45 miles) west-northwest of Winnemucca (see Figure 1). The 2026 reverse circulation ("RC") drilling campaign has now received assays from 10 of 17 drillholes that have been completed to date. Drilling is continuing. At least 15 additional holes are planned for this program. The current drill holes have been sited to test the eastern DeLong Ridge and Awakening Zones nearly 1.4 kilometers northeast of previously reported gold zones at Slumber, drilled from 2019-2025. The Awakening Zone straddles the boundary between the Company's existing north area claims and a portion of the recently leased DeLong Ranch lands. Drilling continues south and southeast of DeLong Ridge.
2026 Program Current Status
This current report of the 2026 drilling campaign tests a wide area of mineralization that stretches from the Awakening Area (previously discussed in the September 23rd press release) southwest and southward from the DeLong Ridge towards the Slumber Area. Holes SL-37, 38, 39, 39A and 40 are all within the Awakening Zone and assay results are reported in this release. Seven additional holes have been completed in the DeLong Ridge area and south and are awaiting assays. The 2026 drilling continues southeast of the DeLong Ridge and in holes SL-48A and SL-48B (now completed). The SL-48A and SL-48B holes have cut visible alteration and are awaiting assays. The results tabulated below are beginning to outline a contiguous body of mineralization that remains open in several dimensions. The gold values are highly encouraging. Importantly, oxidation levels are also observed to considerable depth (up to +225m) supporting the possibility of cyanide heap leach amenability. Grades in the holes reported today are notably stronger than the holes reported from the Slumber Zone to the south.
Following the initially reported results in the Awakening Area (Holes SL-38 and SL-42, reported September 23, 2026) additional holes SL-39 (Az 135, inclination -60 degrees) and 39A (vertical), collared approximately midway between SL-38 and SL-42; both reported good results. These holes encountered highly broken and altered conditions but were terminated short of full target depth due to highly broken rock conditions and difficult groundwater inflow. Holes SL-40 and 41 were collared 150 and 260m east, respectively of Hole SL-39. See Figure 1.
The Awakening Zone is located approximately 2 km northeast of the previously discussed Slumber Zone, drilled by the company from 2019-2025. Surface mapping and sampling supports the potential that the two zones (Slumber and Awakening) may be connected. The 2026 drill program contemplates significant additional drilling to test that potential. See Figure 1.
Figure 1.
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Gold intercepts received as of October 19, 2026.
| DH | From ft | To ft | TD | Azimuth | Inclination | Interval ft | From m | To m | Interval m | Au ppm | Au OPT imperial | Oxide |
| SL-38 | 610 | 765 | 765 | 145 | -60 | 155 | 185.9 | 233.2 | 47.2 | 0.655 | 0.019 | X |
| including | 640 | 665 | 25 | 195.1 | 202.7 | 7.6 | 0.828 | 0.0241 | X | |||
| including | 695 | 715 | 20 | 211.8 | 217.9 | 6.1 | 0.919 | 0.0268 | X | |||
| SL-39 | 40 | 140 | 145 | -55 | 100 | 12.2 | 42.7 | 30.5 | 0.452 | 0.013 | X | |
| including | 60 | 70 | 10 | 18.3 | 21.3 | 3.1 | 0.824 | 0.024 | X | |||
| 170 | 240 | 70 | 51.8 | 73.2 | 21.3 | 0.471 | 0.014 | X | ||||
| 270 | 300 | 30 | 82.3 | 91.4 | 9.1 | 0.348 | 0.010 | X | ||||
| 325 | 335 | 10 | 99.1 | 102.1 | 3.1 | 0.438 | 0.013 | X | ||||
| 350 | 380 | 385 | 30 | 106.7 | 115.8 | 9.1 | 0.307 | 0.009 | X | |||
| SL-39A | 50 | 180 | 0 | -90 | 130 | 15.2 | 54.9 | 39.6 | 0.614 | 0.018 | X | |
| including | 115 | 125 | 10 | 35.1 | 38.1 | 3.1 | 1.475 | 0.043 | X | |||
| including | 150 | 160 | 10 | 45.7 | 48.8 | 3.1 | 0.919 | 0.0268 | X | |||
| 195 | 205 | 10 | 59.4 | 62.5 | 3.1 | 0.561 | 0.016 | X | ||||
| 215 | 225 | 530 | 10 | 65.5 | 68.6 | 3.1 | 0.288 | 0.008 | X | |||
| SL-40 | 5 | 25 | 0 | -90 | 20 | 1.5 | 7.6 | 6.1 | 0.258 | 0.008 | X | |
| 50 | 95 | 300 | 45 | 15.2 | 29.0 | 13.7 | 0.269 | 0.008 | X | |||
| SL-41 | ||||||||||||
| SL-42 | 20 | 185 | 145 | -60 | 165 | 6.1 | 56.4 | 50.3 | 0.420 | 0.012 | X | |
| 330 | 345 | 15 | 100.6 | 105.2 | 4.6 | 0.249 | 0.007 | X | ||||
| 520 | 655 | 735 | 135 | 158.5 | 199.6 | 41.2 | 0.844 | 0.025 | X | |||
| including | 525 | 550 | 25 | 160.0 | 167.6 | 7.6 | 1.054 | 0.0307 | X | |||
| including | 570 | 615 | 45 | 173.7 | 187.5 | 13.7 | 1.201 | 0.035 | X | |||
| including | 625 | 640 | 15 | 190.5 | 195.1 | 4.6 | 0.805 | 0.0235 | X | |||
| SL-43 | Pending Assays | 325 | -60 | |||||||||
| SL-44 | Pending Assays | 0 | -90 | |||||||||
| SL-45 | Pending Assays | 0 | -90 | |||||||||
| SL-46 | 115 | 240 | 325 | -60 | 125 | 35.1 | 73.2 | 38.1 | 0.780 | 0.023 | X | |
| including | 140 | 150 | 10 | 42.7 | 45.7 | 3.1 | 1.714 | 0.05 | X | |||
| including | 165 | 210 | 45 | 50.3 | 64.0 | 13.7 | 1.129 | 0.0329 | X | |||
| 250 | 270 | 20 | 76.2 | 82.3 | 6.1 | 0.267 | 0.008 | X | ||||
| 280 | 290 | 10 | 85.3 | 88.4 | 3.1 | 0.237 | 0.007 | X | ||||
| 330 | 340 | 455 | 10 | 100.6 | 103.6 | 3.1 | 0.411 | 0.012 | X | |||
| SL-46A | 90 | 155 | 0 | -90 | 65 | 27.4 | 47.2 | 19.8 | 0.517 | 0.015 | X | |
| including | 115 | 125 | 325 | 10 | 35.1 | 38.1 | 3.1 | 1.094 | 0.0319 | X | ||
| SL-47 | 105 | 115 | 325 | -60 | 32.0 | 35.1 | 3.1 | 0.236 | 0.0069 | X | ||
| 230 | 240 | 10 | 70.1 | 73.2 | 3.1 | 0.328 | 0.0096 | X | ||||
| 530 | 710 | 180 | 161.5 | 216.4 | 54.9 | 0.894 | 0.0261 | X | ||||
| including | 530 | 550 | 20 | 161.5 | 167.6 | 6.1 | 1.986 | 0.0579 | X | |||
| including | 590 | 645 | 790 | 55 | 179.8 | 196.6 | 16.8 | 1.196 | 0.0349 | X | ||
| SL-47A | 210 | 250 | 700 | 325 | -60 | 40 | 64.0 | 76.2 | 12.2 | 0.266 | 0.0078 | X |
| 295 | 310 | 15 | 89.92 | 94.49 | 4.57 | 0.253 | 0.0074 | X | ||||
| 390 | 605 | 215 | 118.87 | 184.4 | 65.53 | 1.336 | 0.039 | X | ||||
| including | 450 | 535 | 85 | 137.16 | 163.07 | 25.91 | 2.518 | 0.0734 | X | |||
| including high | 505 | 510 | 5 | 153.93 | 155.49 | 1.52 | 8.681 | 0.256 | X | |||
| 650 | 665 | 15 | 198.12 | 202.69 | 4.57 | 0.318 | 0.0093 | X | ||||
| SL-48 | 100 | 160 | 540 | 325 | -60 | 60 | 30.48 | 48.77 | 18.29 | 0.519 | 0.0151 | X |
| 200 | 215 | 15 | 60.96 | 65.53 | 4.57 | 0.209 | 0.0061 | X | ||||
| 275 | 440 | 165 | 83.82 | 134.11 | 50.29 | 0.451 | 0.0132 | X | ||||
| including | 305 | 320 | 15 | 92.96 | 97.54 | 4.57 | 0.751 | 0.0219 | X | |||
| SL-48A | Pending Assays | 600 | 315 | -45 | ||||||||
| SL-48B | Pending Assays | 680 | 0 | -90 | ||||||||
John Watson, NV Gold's CEO commented - "Assay results from this latest group of analyses builds the picture of an emerging significant oxide gold discovery in Nevada. Our drilling to date in 2026 has been highly encouraging with initial strong results in the Awakening Area and now along and south of DeLong Ridge. The mineralization is open to the southeast along strike, with two holes, 48A and 48B testing the extension. To date, this program is considered highly successful and the Company has engaged two diamond core drills for its planned winter drilling campaign."
Slumber Project Highlights:
- The Slumber property comprises 130 lode mining claims and approximately 1,500 acres of private ranch land;
- The project geology consists of volcanic-hosted epithermal gold mineralization found in a structural corridor along the southern Jackson Mountains;
- Four previous drill campaigns have been conducted by NVX since 2019. 34 RC holes (reverse circulation) were completed prior to 2026, totaling 8,588 meters;
- Geophysical surveys, including the CSAMT survey conducted in 2019 and an induced polarization (IP) survey in 2022, identified a continuous north-south to north-northeast-trending resistivity zone correlated with the gold mineralization. The resistivity anomaly indicates hydrothermally brecciated, highly-silicified volcanics with broad thicknesses returning gold values.
- On March 21, 2023, NV Gold announced the results of an "Exploration Target" analysis of the south claim block (Slumber Area). An 'Exploration Target' provides a potential range of tons and grades and is defined as "conceptual in nature, the probability of confirmation is not known". This south area remains open in several dimensions and potentially may connect with the Awakening Area currently being drill-tested over 1.5 km to the northeast.
- Preliminary metallurgical testing is planned to be undertaken on a number of samples from the current program to assess the potential amenability for heap leach processing. Oxidation persists to over 200 meters in most areas observed to date.
- The leasing of the area of intervening private land has added a substantial new dimension to the potential of the project. The first holes in the Awakening Area have intersected thick intervals of intensely-silicified volcanics that have now returned highly encouraging gold values. The remainder of the planned drilling should bring the potential dimensions of the deposit into more complete focus.
- Dimensions of this discovery are significant, with a strike length of over two kilometers from southwest to northeast and widths from 200 to 600 meters. Interval thicknesses range from 30 to over 200 meters. True widths and thickness are unknown at this time.
The 2026 RC Drilling Program is expected to continue into the month of November or later. The Company expects to complete 10-15 additional RC holes, primarily targeting the southern extension of the DeLong Ridge, but may also add several holes in the Slumber Area north of the 2023 Exploration Target boundary. In addition, the Company has engaged Energold Drilling of Billings, MT to initiate a 3,000+meter diamond core program in January 2027.
Analytical Laboratory and QA/QC Procedures
The company used a Shram 450 reverse circulation drill of Premier Drilling of Elko Nevada. All 2026 Slumber drilling is of the 'reverse circulation' type, returning rock samples that range in size from <1mm up to 2 cm, with the majority between 1 and 10 mm in longest dimension. Samples are collected using from the cyclone underflow as a separate split from circulation returns onsite and submitted to MSA Laboratory of Elko Nevada for up to 500 grams non destructive PhotonAssay. Company staff maintain sample custody until laboratory pickup. Samples submitted range in weight from 0.450 kg to 10.4 kg. Laboratory procedures include crushing and unbiased split to achieve as close to 500-gram sample as possible. Samples are taken at 1.52-meter (5 feet) intervals in all holes. Chip samples were collected in trays for all intervals, photographed, and are retained by the company.
The quality assurance-quality control (QA/QC) program of NV Gold Corp. includes the insertion of certified standards of known gold content, blank and duplicate samples. MSAlabs, Elko uses a 500-gram crushed material (Riffle Split), code SPL-430, to conduct a gama ray analysis of sample for gold by photo assay instrument (2 cycle), code CPA-Au2. The samples are not consumed in the analysis and are returned to the company for future reference.
Qualified Person Disclosure
Jesse D. Wellman, C.P.G, an economic geologist and independent consultant for the Company, and Qualified Person as defined by National Instrument 43-101 ("NI-4301 "), has reviewed and approved the scientific and technical information in this news release.
About NV Gold Corporation
NV Gold (TSXV: NVX) (OTCQB: NVGLF) is a well-financed exploration company with ~37 million shares issued, over $1.0 M in its treasury and no debt. The Company is based in Vancouver, British Columbia and is focused on delivering value through mineral discoveries in Nevada, USA, leveraging its highly experienced in-house technical knowledge. 2026-7 will be NV Gold's busiest exploration year in its corporate history.
On behalf of the Board of Directors,
John E. Watson
Chairman & CEO
For further information, visit the Company's website at nvx.gold or contact us at 604-245-0054.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's planned exploration activities. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, the extent to which mineralized structures extend on to the Company's Projects and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
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