8-K: Nevada Canyon Reports High-Grade Gold Intercepts

Nevada Canyon Gold Corp. announced significant drill results from the Lapon Canyon Gold Project, including 21.8 g/t Au over 4.6 meters, extending mineralization.

Summary

• Nevada Canyon Gold Corp. (NGLD) announced additional drill results from the 2025 reverse circulation (RC) drill program at the Lapon Canyon Gold Project.
• The Lapon Canyon Project is 100% owned by Walker River Resources Corp. (WRR).
• Nevada Canyon has an Exploration Stream Earn-in Agreement for 50% of the Project, committing to $5 million in exploration spending over three years.
• Nevada Canyon also holds a 3% Net Smelter Royalty (NSR) on the Lapon Canyon Project.
• Drilling at the new upper drill road at Hotspot significantly extended gold mineralization to the south and east.
• Key intercepts include 21.8 g/t Au over 4.6 meters within 2.17 g/t Au over 86.9 meters in hole LC-25-156, starting at 126.5 meters.
• Other significant results include 3.35 g/t Au over 64 meters (including 8.01 g/t Au over 19.9 meters) in hole LC-25-150, starting at 149.4 meters.
• Gold mineralization was found to be hosted in multiple bedrock units beyond the originally interpreted iron-oxide-sericite altered granite.
• Multi-element geochemistry will be utilized to test the copper potential of the Lapon Canyon system.
• Ongoing work includes data compilation, interpretation, and resource modeling to complete an initial NI 43-101 compliant mineral resource on the Project.

Sentiment

Score: 8

Explanation: The drill results are highly positive, indicating significant high-grade gold and expanded mineralization, which substantially de-risks the project and enhances the value of Nevada Canyon's earn-in and royalty interests.

Positives

• Significant high-grade gold intercepts were reported, including 21.8 g/t Au over 4.6 meters and 8.01 g/t Au over 19.9 meters.
• Gold mineralization has been significantly extended to the south and east of the Hotspot zone.
• Mineralization is hosted in multiple bedrock units, suggesting a larger and more complex system than previously understood, expanding growth potential.
• The $5 million exploration spend under the earn-in agreement is expected to create value for shareholders.
• Plans are underway for an initial NI 43-101 compliant mineral resource report, which will provide a formal estimate of the project's resources.
• The company will test for copper potential, indicating possible multi-metal opportunities beyond gold.

Risks

• Actual outcomes and results may differ materially from forward-looking statements due to various risks and uncertainties.
• General economic and business conditions could impact operations and financial performance.
• Effects of continued geopolitical unrest and regional conflicts may affect the company's activities.
• Competition within the mining industry could pose challenges.
• Changes in technology and methods of exploration may require adaptation and investment.
• Delays in completing various engineering and exploration programs could impact project timelines and costs.
• The company disclaims any intention or obligation to update or revise any forward-looking statements except as required by applicable securities legislation.

Future Outlook

Ongoing work at Lapon Canyon consists of data compilation, interpretation, and resource modeling. These efforts are expected to enable the completion of an initial NI 43-101 compliant mineral resource on the Project. Further drill results will be released as they become available, with field work and drilling continuing. Multi-element geochemistry will also be utilized to test the copper potential of the Lapon Canyon system.

Management Comments

• Lisa Doddridge, President and Director: "I am so pleased that these results continue to support the significant potential at Lapon Canyon. The occurrence of mineralization in different host rock from the historic gold mineralization and mining could indicate the possibility for a significant resource at the Project."
• Alan Day, Chairman and CEO: "Once again we are impressed with the consistent and significant results from the Lapon Canyon Project, the potential and quality of our Nevada based royalties and streams continue to be impressive. We continue to look forward to additional results from Lapon Canyon and the ongoing interpretation and expansion of its gold mineralization as drilling continues."

Industry Context

The Lapon Canyon Project is located within the prolific Walker Lane gold trend in Nevada, a region renowned for its historical high-grade gold mining and ongoing significant discoveries. The reported high-grade intercepts and extended mineralization align with the region's reputation for substantial gold potential. The focus on resource definition and the planned NI 43-101 compliant resource report are standard practices in the junior exploration sector to de-risk and formally value mineral assets.

Comparison to Industry Standards

• The filing does not provide specific comparable companies, projects, or results for direct comparison.
• The Lapon Canyon Project is situated within Nevada's prolific Walker Lane gold trend, a region historically known for high-grade gold mining and significant discoveries, suggesting the results are consistent with the potential of this established gold province.

Stakeholder Impact

• Shareholders: Potential for increased asset value due to positive exploration results and future resource definition, enhancing the value of Nevada Canyon's earn-in and royalty.
• Walker River Resources Corp. (Project Owner): Positive drill results validate their project and could attract further investment or partnership interest.
• Employees/Contractors: Ongoing drilling and field work suggest continued employment opportunities.

Next Steps

• Continue data compilation, interpretation, and resource modeling for the Lapon Canyon Project.
• Complete an initial NI 43-101 compliant mineral resource on the Project.
• Release further drill results as they become available.
• Continue field work and drilling at the Lapon Canyon Project.
• Utilize multi-element geochemistry to test the copper potential of the Lapon Canyon system.

Key Dates

Recommendation

The reported high-grade gold intercepts and the significant extension of mineralization at the Lapon Canyon Project are highly positive indicators. Nevada Canyon Gold Corp.'s earn-in agreement and 3% NSR position it to benefit directly from these discoveries. The commitment to an NI 43-101 compliant resource further de-risks the project and provides a clear path to valuation. The results suggest a substantial increase in the project's potential, making it an attractive investment for long-term growth in the gold sector.

Keywords

Gold, Exploration, Lapon Canyon, Nevada, Drill Results, RC Drilling, Hotspot, Mineral Resource, Royalty, Earn-in, Walker Lane, Mining