NevGold Corp. announced that at the Annual General and Special Meeting of Shareholders held on June 30, 2023 the disinterested shareholders of the Company approved the creation of GoldMining as a new control person of the Company. A total of 33,045,307 common shares of the Company, representing 46.3% of the Company's outstanding common shares, were represented at the AGSM.

A total of 19,951,224 common shares (99.6%) voted in favour of the creation of a new control person, while a total of 94,639 common shares (0.5%) voted against. The creation of the new control person was required to be approved by over 50% of the votes cast by disinterested shareholders at the Special Meeting, excluding GoldMining. GoldMining, a shareholder owning over 10% of the outstanding common shares, was issued 4,109,589 shares through the Share Issuance Payment.

Prior to the closing of the Share Issuance Payment, GoldMining held, and had control and direction over, 12,560,661 common shares and 1,488,100 warrants of the Company exercisable into 1,488,100 common shares, representing approximately 17.6% of the Company's outstanding Common shares on an undiluted basis and approximately 19.3% on a partially-diluted basis assuming the exercise of the warrants held by GoldMining. On completion of the Share Issuance payment, GoldMining holds, and has control and direction over, 16,670,250 common shares and 1,488.100 warrants, representing approximately 22.1% of the Company's outstandingcommon shares on an undiluted platform and approximately 23.6% on a partially-dILuted basis assuming the exercise of The warrants held by GoldMining".