01:38 PM EDT, 09/18/2025 (MT Newswires) -- NevGold ( NAUFF ) on Thursday released an updated mineral resource estimate (MRE) for its Nutmeg Mountain gold project in Idaho that expands both indicated and inferred gold ounces and underscores the project's open-pit, heap-leach potential.

The updated base-case pit-constrained MRE now stands at 1,186,000 ounces of gold in the indicated category at a cutoff of 0.2 grams per tonne, plus 548,000 ounces in the inferred category.

Compared to the 2023 MRE, the current update reflects an 18% increase in indicated tonnage and more than 100% growth in inferred resource tonnage.

NevGold ( NAUFF ) says mineralization is close to surface and the project has a low strip ratio less than 1:1 per conceptual pit shells, which is favorable for an open-pit heap-leach operations.

The estimate was prepared by Global Mineral Resource Services (GMRS) in compliance with NI 43-101 standards.

"After completion of this MRE, we plan to advance to a Preliminary Economic Assessment (PEA) to further advance the Project to the next stage of development. We have an extremely favorable macroeconomic situation with the gold price and momentum in the US to advance high-quality, domestic mineral projects," chief executive Brandon Bonifacio said,

Shares of NevGold ( NAUFF ) were last seen up $0.02 to $0.31 on the TSX Venture Exchange

Price: 0.31, Change: +0.02, Percent Change: +6.90