Quantum oscillations (QOs) in transport and thermodynamic parameters at high magnetic fields are an unambiguous signature of the Fermi surface, the defining characteristic of a metal. Therefore, recent observations of QOs in insulating SmB 6 [1-4] and YbB 12 , in particular the QOs of the resistivity ρ xx in YbB 12 [5], have been a big surprise, pointing to the formation of a novel state of quantum matter. Despite the large charge gap inferred from the insulating behaviour of ρ xx , these compounds seemingly host a Fermi surface at high magnetic fields. However, the nature of the ground state in zero field has been little explored. Here we report the use of low-temperature heat-transport measurements to discover gapless, itinerant, charge-neutral excitations in the ground state of YbB 12 . At zero field, despite ρ xx being far larger than that of conventional metals, a sizable linear temperature dependent term in the thermal conductivity is clearly resolved in the zero-temperature limit (κ xx /T (T → 0) = κ 0 xx /T = 0), analogous to normal metallic behaviour. Such a residual κ 0 xx /T term at zero field, which is absent in SmB 6 [3, 6, 7], leads to a spectacular violation of the Wiedemann-Franz law: the Lorenz ratio L = κ xx ρ xx /T is 10 4 -10 5 times larger than that expected in conventional metals. These data indicate that YbB 12 is a charge insulator but a thermal metal, suggesting the presence of itinerant neutral fermions. Remarkably, more insulating crystals with larger activation energies exhibit a larger amplitude of the resistive QOs as well as a larger κ 0 xx /T , in stark contrast to conventional metals. Moreover, we find that these fermions couple to magnetic field, despite their charge neutrality. Our findings expose novel gapless and highly itinerant, charge-neutral quasiparticles in this unconventional quantum state.In intermetallic 4f and 5f compounds, strong hybridization between itinerant and predominately localized electrons often opens an insulating gap [8,9]. Among