Nevada Canyon Gold Corp. Reports Net Loss of $882,270 for Q1 2025

Nevada Canyon Gold Corp. reported a net loss of $882,270 for the three months ended March 31, 2025, compared to a net loss of $839,445 for the same period in 2024. The company's total operating expenses decreased by 6% to $949,235, down from $1,010,708 in the prior year. The largest expense was attributed to investor awareness and marketing, which totaled $387,350, a reduction from $418,275 in the previous year. Exploration expenses of $270,684 were incurred during the quarter, marking a significant increase as no such expenses were recorded in the same period last year.

In terms of financial position, Nevada Canyon Gold Corp. reported total assets of $10,092,877 as of March 31, 2025, a decrease from $10,424,775 at the end of 2024. Current assets also fell to $7,215,186 from $7,548,918. The company maintained current liabilities of $1,307,458, slightly down from $1,314,447. Stockholders' equity decreased to $8,785,419 from $9,110,328, primarily due to the accumulated deficit increasing to $9,606,431 from $8,724,161.

Strategically, the company has made significant moves, including entering into an Exploration Stream Earn-in Agreement with Walker River Resources, LLC, to explore and develop the Lapon Canyon Project. This agreement allows Nevada Canyon to earn up to a 50% interest in the project by funding $5 million in exploration expenses over three years. Additionally, the company appointed Lisa Doddridge as President and added her to the Board of Directors, while Alan Day continues as CEO and Chairman.

Operationally, Nevada Canyon Gold Corp. has focused on its mineral properties, including the Agai-Pah and Swales properties, with exploration activities ramping up. The company reported a cash balance of $6,727,137 as of March 31, 2025, which is expected to support its operations and exploration programs for at least the next 12 months. The company plans to continue seeking additional financing through equity or debt to sustain its operations beyond this period.

Looking ahead, Nevada Canyon Gold Corp. remains focused on its exploration initiatives and is optimistic about its ability to generate future cash flows. However, management acknowledges the inherent uncertainties in projecting future financial performance and the need for ongoing capital to fund its operations and exploration activities. The company will continue to monitor market conditions and explore opportunities for additional funding as necessary.