America Can't Make Its Own Ammunition Metal. A Nevada Project Just Defined One of the Largest Domestic Sources

Issued on behalf of NevGold Corp.

NEW YORK, Aug. 14, 2026 (GLOBE NEWSWIRE) -- Energy Metal News News Commentary - There is a metal most people have never heard of that the U.S. military cannot do without and cannot currently produce at home. It hardens the lead in ammunition, it is essential to the primers that make bullets fire, and it goes into flame retardants, night-vision equipment, and hard-tipped ordnance. The United States has designated it a critical mineral, relies on imports for essentially 100% of its supply, and watched that supply become a geopolitical weapon when China restricted exports to the U.S. The metal is antimony, and a company advancing a project in Nevada has just defined one of the largest strategic sources of it on American soil. Companies mentioned in today's commentary include: NevGold Corp. (TSXV: NAU) (OTCQX: NAUFF) (Frankfurt: 5E50), RTX Corporation (NYSE: RTX), GE Aerospace (NYSE: GE), Honeywell International Inc. (Nasdaq: HON), and Axon Enterprise, Inc. (Nasdaq: AXON).

The reason this matters goes well beyond one metal. Antimony sits at the intersection of two of the most powerful forces in markets today: the scramble to rebuild domestic critical-mineral supply chains, and a defense-spending environment shaped by the recognition that the U.S. cannot fight a sustained conflict without secure access to the materials its weapons require. When a single country controls the supply of a metal essential to ammunition, every ounce of domestic production becomes strategically valuable. That is the backdrop against which a Nevada gold-and-antimony project has quietly become one of the more strategically interesting stories in the junior mining sector.

The company is NevGold Corp. (TSXV: NAU) (OTCQX: NAUFF) (Frankfurt: 5E50), a Vancouver-based exploration and development company whose flagship Limousine Butte project in Nevada carries both gold and antimony. Over the past year the story around NevGold has shifted, from a gold-focused explorer into a company defining a strategically significant domestic antimony resource at exactly the moment the United States is racing to secure one. This is a look at that sector, why domestic antimony has become a national priority, and the defense and industrial giants whose demand for the metal underpins the whole story.

The Metal Behind the Ammunition
Antimony is one of those materials that almost no one notices until it is gone. It is used to harden lead alloys in ammunition and to make the primers that ignite a cartridge, which is why it is sometimes called the ammunition metal. It is a key ingredient in flame retardants that protect plastics, textiles, and electronics; it is used in batteries, bearings, and specialized glass; and it has a range of defense applications from night-vision devices to hardened projectiles.

In short, it is woven through both the civilian industrial economy and the machinery of national defense.

What makes antimony strategically fraught is where it comes from. The United States has essentially no domestic mine production and relies on imports for nearly all of its supply, much of it historically routed through China. In late 2024 China moved to restrict antimony exports to the United States, and while those restrictions were partially eased in 2025, licensing controls and end-use scrutiny remained in place, a stark demonstration of how a concentrated supply chain can be turned into leverage. For a metal the Pentagon cannot do without, that concentration is precisely the vulnerability U.S. policy is now urgently trying to fix.

A Domestic Resource Takes Shape
Against that backdrop, NevGold reported a significant milestone: a maiden gold-antimony mineral resource estimate for its Limo Butte project in Nevada, the first modern resource defined there in over 17 years. The estimate outlined antimony in the measured-and-indicated categories along with a larger inferred component, and a substantial gold resource alongside it, positioning Limo Butte among the more strategically notable domestic antimony resources defined in the United States. Full detail is available through the company's disclosures.

The company has emphasized that the project is a brownfield site, previously mined, with near-surface oxide mineralization that lends itself to established leach-based processing. NevGold has described a potential path to near-term antimony production from material already sitting on historic leach pads, while it continues to advance the broader deposits, including areas it has identified for expansion, through additional drilling, metallurgical work, and engineering studies. That combination, a strategic metal, a domestic location, existing infrastructure, and a potential near-term production angle, is what has drawn attention to the story. As with any exploration-stage project, though, these are objectives and estimates, not producing operations, and significant work remains before any production decision.

Gold on the Same Ground
The antimony story would matter less if it sat on barren ground, but Limo Butte carries a meaningful gold resource alongside the antimony, and gold is trading near record highs. That dual-metal character is part of what makes the project distinctive: it offers exposure to a strategic critical mineral and to a precious metal in a strong price environment, on the same near-surface, oxide, leachable material. NevGold has framed the gold as a potential source of near-term cash flow that could help underwrite the broader development of the asset.

Beyond Limo Butte, NevGold holds additional projects, including the Nutmeg Mountain gold project in Idaho and other exploration ground across Nevada and Idaho, giving it a portfolio anchored by the flagship but not dependent on a single deposit. For a junior company, that combination of a strategically significant critical-mineral resource and a record-price precious metal, held across a multi-project portfolio, is an unusually rich setup, though it remains an exploration-and-development story with the capital, permitting, and execution risks that entails.

The Countdown: A Supply Chain Under Pressure
The pressure driving this sector is structural and intensifying. The United States has designated antimony a critical mineral, federal attention on securing domestic supply of defense-critical materials has risen sharply, and the fragility exposed by China's export restrictions has turned a once-obscure metal into a national-security priority. Defense procurement, stockpiling initiatives, and critical-mineral policy are all pushing in the same direction: toward building a domestic supply chain for materials the country cannot afford to import from a strategic rival.

This is not a countdown to a single date; it is a sustained policy and demand tailwind that grows more urgent as geopolitical tensions persist and defense budgets prioritize supply-chain security. Every credible domestic source of antimony becomes more strategically valuable in that environment. NevGold is advancing one such source, and while policy tailwinds do not guarantee any individual project's success, they define a backdrop in which a domestic, strategically located antimony resource carries a significance it would not have had a few years ago.

The Industries That Can't Live Without It
The clearest way to understand why domestic antimony matters is to look at the industries that consume it, because their demand defines its strategic value. The four companies below are major consumers of critical minerals and defense materials, referenced solely as market and sector context. They are vastly larger and more established than NevGold, are not peers, competitors, or financial comparables of NevGold Corp., and their results are not indicative of NevGold's prospects. NevGold is an exploration-and-development company with no revenue; the companies below are large, established, revenue-generating enterprises. All figures are approximate and subject to change.

RTX Corporation (NYSE: RTX)
RTX Corporation is one of the world's largest aerospace and defense companies, producing missiles, munitions, and advanced defense systems that depend on secure supplies of specialty metals and critical minerals, antimony among the materials that flow through the defense industrial base. As a prime contractor at the center of U.S. and allied defense procurement, RTX embodies the demand side of the critical-minerals story: the weapons and munitions programs whose sustained production requires reliable domestic access to strategic materials.

RTX has benefited from elevated global defense spending and a large multi-year backlog, reflecting the durable demand environment for munitions and defense systems. It is referenced to illustrate the scale of the defense-industrial demand that makes domestic critical-mineral supply, including antimony, a strategic priority, a vast, established prime contractor whose materials needs sit at the opposite end of the supply chain from an exploration-stage resource company like NevGold.

GE Aerospace (NYSE: GE)
GE Aerospace is one of the largest producers of jet engines and propulsion systems for both commercial and military aircraft, a business that relies on secure supplies of specialty alloys and critical minerals across its manufacturing base. Advanced aerospace manufacturing sits squarely within the industrial demand for strategic materials, and GE Aerospace's defense and propulsion programs are part of the broader ecosystem whose supply-chain security depends on domestic sources of critical inputs.

GE Aerospace has reported strong results and a record backlog on the strength of resurgent commercial aerospace and defense demand, cementing its position as one of the sector's standout performers. It is included to represent the scale of advanced-manufacturing and defense demand that underpins the strategic importance of secure critical-mineral supply chains, an enormous, established manufacturer whose scale contrasts sharply with NevGold's early development stage.

Honeywell International Inc. (Nasdaq: HON)
Honeywell is a diversified industrial and aerospace company with major defense, advanced-materials, and electronics businesses, all of which draw on specialty minerals and materials. Its advanced-materials segment and defense-and-aerospace operations place it among the large industrial consumers whose demand for critical inputs, including materials like antimony used in flame retardants, electronics, and defense applications, helps define the market NevGold's resource would ultimately serve.

Honeywell operates at enormous scale across aerospace, industrial automation, and advanced materials, with the diversified, established revenue base of a global industrial leader. It is referenced to illustrate the breadth of industrial and defense demand for specialty materials that gives strategic minerals their value, a large, diversified enterprise whose scale and stage bear no resemblance to an exploration-stage junior, but whose materials demand is part of why domestic critical-mineral supply matters.

Axon Enterprise, Inc. (Nasdaq: AXON)
Axon Enterprise has grown from its origins in law-enforcement technology into a broader public-safety and defense-adjacent technology provider, whose devices and systems draw on advanced electronics and specialty materials. It represents the expanding, technology-driven edge of the defense and public-safety market, a reminder that demand for critical minerals extends beyond traditional munitions into the electronics and hardware that increasingly define modern security.

Axon has been one of the strongest performers in the broad defense-and-public-safety technology space, drawing heightened investor attention on its growth across hardware and software. It is included to round out the demand picture, illustrating how the appetite for advanced materials spans traditional defense primes and newer technology-driven security companies alike, all far larger and more established than NevGold and referenced only as sector context, not as comparables.

Why the Market Hasn't Caught Up Yet
For a company defining a strategically significant resource of a metal the U.S. military cannot source domestically, NevGold attracts relatively modest attention, and the reasons are structural. It is a junior exploration-and-development company with a market profile far below the defense and industrial giants whose demand gives its resource meaning, and junior miners draw thin coverage by default. Antimony itself is obscure enough that many investors have never encountered it, which keeps even a strategically important resource out of most conversations.

There is also the nature of the story, which spans two categories at once, a strategic critical mineral and a record-price precious metal, and blends exploration-stage mining with national-security policy, a combination harder to summarize than a single-commodity story. Compress the picture and it reads plainly: a designated critical mineral the U.S. imports almost entirely, a supply chain a strategic rival has already shown it can squeeze, and a Nevada project that has now defined one of the larger domestic resources of that metal, with gold alongside it at record prices. Whether NevGold advances that resource to production is unproven, and this is a description of a company and its sector, not a prediction about its stock. But the gap between the strategic importance of domestic antimony and the attention paid to the companies defining it is what makes the sector worth understanding now.

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Article Sources:
[1] NevGold Corp. company disclosures, including its July 15, 2026 maiden gold-antimony Mineral Resource Estimate for the Limo Butte project and descriptions of the project's antimony and gold mineralization, brownfield status, and near-term production objectives.
[2] Public disclosures and market data of the referenced companies (RTX, GE Aerospace, Honeywell, Axon Enterprise) as cited in the body of this article.
[3] U.S. critical-minerals designations and public reporting on antimony supply, import reliance, and export restrictions.

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Cautionary Note Regarding Mineral Resources and Forward-Looking Statements. NevGold Corp. is an exploration and development company. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The maiden gold-antimony Mineral Resource Estimate referenced, including measured, indicated, and inferred categories, is an estimate; inferred mineral resources in particular are the least certain category and there is no assurance that any part of a resource will be converted into reserves or mined economically. References to near-term production potential from historic leach pads, expansion potential, and future development are objectives and are not producing operations; a production decision would be subject to further studies, permitting, financing, and other conditions. This publication may contain forward-looking statements, including statements regarding NevGold's resource, potential production, project development, and antimony supply-chain and policy dynamics. Forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties, including exploration, metallurgical, permitting, financing, commodity-price, and regulatory risks. Actual results may differ materially. Readers should refer to NevGold Corp.'s continuous disclosure record filed on SEDAR+ at www.sedarplus.ca for a full discussion of risk factors.

Cautionary Note Regarding Referenced Companies. References to RTX Corporation, GE Aerospace, Honeywell International Inc., and Axon Enterprise, Inc. are provided solely as market and sector context. Those companies are not peers, competitors, or financial comparables of NevGold Corp., and differ substantially in size, stage, capitalization, operations, and business model. Any reference to their consumption of critical minerals or specialty materials is general industry context and does not imply any commercial relationship with NevGold. Their results and share performance describe those companies only, are not indicative of NevGold Corp.'s prospects or results, and must not be relied upon in evaluating the profiled company. No partnership, affiliation, or endorsement is implied.

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