8-K: Nevada Canyon Gold Corp. Completes Initial Exploration Programs on Agai-Pah and Swales Properties

Nevada Canyon Gold Corp. announces the completion of Phase I exploration programs on its Agai-Pah and Swales properties, located in Nevada's Walker Lane shear zone and Carlin Trend, respectively.

Summary

• Nevada Canyon Gold Corp. has completed Phase I exploration programs on the Agai-Pah and Swales properties.
• The Agai-Pah Property is located in Mineral County, Nevada, within the Walker Lane shear zone, and consists of 20 unpatented mining claims covering 162 hectares (400 acres).
• Historical sampling at Agai-Pah revealed the presence of silver, copper, gold, lead, zinc, barium, and barite, with one sample yielding over 600 Ag oz (ounces of silver).
• The Swales Property is located in the Carlin Trend in Elko County, Nevada, and consists of 40 unpatented mining claims covering approximately 800 acres.
• The Swales Property is near several producing gold mines within the Carlin Trend, which have collectively produced over 100 million ounces of gold.
• Phase I programs included reconnaissance prospecting, geological mapping, and surface sampling.
• Phase II exploration programs are planned for both properties later in 2025, with the Swales program including a ground-based geophysical surveying program.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the company has completed initial exploration programs and is moving forward with further exploration. The properties are located in promising mining areas, but there are risks associated with exploration and future results.

Positives

• The Agai-Pah Property has historical workings and sampling indicating the presence of multiple valuable minerals.
• The Swales Property is located in the Carlin Trend, a highly productive gold mining area.
• Both properties have excellent year-round access and infrastructure.
• Phase I exploration programs have been completed, paving the way for Phase II exploration.

Negatives

• The Agai-Pah Property has been held by private interests for most of its history and remains underexplored.
• The Swales Property remains very underexplored with minimal recorded modern-day exploration.

Risks

• Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially.
• Delays in completing engineering and exploration programs could impact the company's progress.
• The company's actual results could differ materially from those discussed in the press release due to various factors beyond Nevada Canyon Gold Corp.'s control.

Future Outlook

Phase II exploration programs are planned for both the Agai-Pah and Swales properties later in 2025, with the Swales program including a ground-based geophysical surveying program.

Management Comments

• Nevada Canyon Gold Corp. is pleased to announce its has completed the initial Phase I exploration programs on two of the Company's Accelerator properties, the Agai-Pah Property, located in Mineral County, Nevada, within the Walker Lane shear zone and the Swales Property, located the Swales Mountain Mining District in Elko County, Nevada.

Industry Context

This announcement is relevant to the mining industry, particularly gold and silver exploration in Nevada. The Carlin Trend and Walker Lane shear zone are known for significant mineral deposits, making these properties potentially valuable.

Comparison to Industry Standards

• The Carlin Trend, where the Swales Property is located, is home to some of the largest gold mines in the US, including Nevada Gold Mines Gold Quarry Mine and Goldstrike Mine.
• The mines within the Carlin Trend have collectively produced over 100 million ounces of gold, setting a high benchmark for potential discoveries.
• The Agai-Pah Property's location within the Walker Lane shear zone places it in a region known for historical mining activity and potential for new discoveries, similar to other successful projects in the area.

Stakeholder Impact

• Positive exploration results could increase shareholder value.
• Successful mining operations could create jobs and economic benefits for local communities.

Next Steps

• Release initial results from Phase I of the Agai-Pah and Swales exploration programs as they become available.
• Plan and execute Phase II exploration programs on both properties later in 2025.
• Conduct a ground-based geophysical surveying program on the Swales Property as part of Phase II.

Key Dates