NV Gold Announces Second Amendment to Triple T Property Lease

Rhea-AI Summary

NV Gold (OTCQB:NVGLF) has announced a second amendment to its Triple T Property lease agreement. The company will issue 456,600 common shares at C$0.12 per share to settle an annual payment of US$40,000 (approximately C$54,800) owed to the Triple T lessees.

The amendment modifies the exploration and mining lease agreement originally dated June 21, 2021, and previously amended on June 7, 2024. The Payment Shares will be subject to TSX Venture Exchange approval and a four-month statutory hold period from issuance.

Positive

• None.

Negative

• Company settling US$40,000 cash obligation with share issuance, potentially indicating cash conservation needs
• Share issuance will result in dilution for existing shareholders

VANCOUVER, BC / ACCESS Newswire / July 18, 2025 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that the Company has amended the terms of its agreement with the owners of the Triple T Property (the "Second Amendment"), as further described in the Company's news release dated July 8, 2025. Pursuant to the Second Amendment, the Company agreed to issue an aggregate of 456,600 common shares (the "Payment Shares") at a price of C$0.12 per Payment Share to settle an annual payment of US$40,000 (approximately C$54,800) payable by the Company to the Triple T lessees pursuant to the exploration and mining lease agreement among the parties dated June 21, 2021, as amended June 7, 2024. The increase in the number of Payment Shares issuable under the Second Amendment is intended to more accurately reflect the market value of the Company's shares.

The issuance of the Payment Shares is subject to TSX Venture Exchange approval. The Payment Shares will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable securities legislation.

For more information on the original amendment and the Triple T Property lease, please refer to the Company's news release dated July 8, 2025.

About NV Gold Corporation
NV Gold Corporation is a well-organized exploration company with 18.7 million shares issued and outstanding. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-owned lode mining claims totaling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and Reno, Nevada, and is focused on delivering value through mineral discoveries in Nevada, USA.

Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2025 promises to be highly productive for NV Gold.

On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director

For further information, visit the Company's website at www.nvgoldcorp.com or contact:

Freeform Communications at 604.245.0054

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: NV Gold Corporation

View the original press release on ACCESS Newswire

FAQ

What is the second amendment to NVGLF's Triple T Property lease agreement?

The second amendment allows NV Gold to issue 456,600 common shares at C$0.12 per share to settle a US$40,000 annual payment to Triple T lessees.

How many shares will NVGLF issue under the Triple T Property lease amendment?

NV Gold will issue 456,600 common shares at a price of C$0.12 per share to settle the US$40,000 payment obligation.

What is the hold period for NVGLF's newly issued Payment Shares?

The Payment Shares will be subject to a statutory hold period of four months from the date of issuance.

When was the original Triple T Property lease agreement signed?

The original exploration and mining lease agreement was signed on June 21, 2021, with a first amendment made on June 7, 2024.