NexGold Intersects 9.30 g/t Gold Over 11.0 Metres and 2.31 g/t Gold Over 21.5 Metres at the Goldlund Deposit, Ontario

Selected drill intercepts from diamond drill holes at the Goldlund Deposit in this news release are further detailed in Table 1 and include:

• 9.30 g/t gold over 11.0 metres (from 232.0 to 243.0 metres), including 64.10 g/t gold over 0.9 metres and 39.70 g/t gold over 1.0 metres in drill hole GL-25-010;

• 2.31 g/t gold over 21.5 metres (from 238.6 to 260.1 metres), including 30.10 g/t gold over 0.7 metres, 24.5 g/t gold over 0.5 metres and 7.64 g/t gold over 0.9 metres in drill hole GL-25-011;

• 1.18 g/t gold over 33.5 metres (from 183.5 to 217.0 metres), including 18.00 g/t gold over 1.0 metres and 7.99 g/t gold over 1.0 metres; additionally, 62.30 g/t gold was intersected over 1.0 metres (from 226.0 to 227.0 metres), in drill hole GL-25-009;

• 2.34 g/t gold over 10.2 metres (from 199.3 to 209.5 metres), including 15.8 g/t gold over 0.7 metres and 5.08 g/t gold over 0.8 metres in drill hole GL-25-013; and

• 1.03 g/t gold over 16.5 metres (from 350.5 to 367.0 metres), including 5.25 g/t gold over 0.8 metres and 4.34 g/t gold over 2.0 metres in drill hole GL-25-014; additionally 28.9 g/t gold was intersected over 1.5 metres (from 129.5 to 131.0 metres) in the same drill hole.

Kevin Bullock, President and CEO of NexGold, commented: “These additional drill results from the infill drill program at Goldlund demonstrate a strong tenor of gold mineralization at deeper levels of a planned open pit for the Goldlund Deposit and strengthen our belief that mineralization does have strong continuity at depth. The results of the drill program will be used on an ongoing basis to support our efforts to optimize the Goliath Gold Complex, including the Goldlund Deposit. As we continue to drill at the deeper levels of the open pit mineral resource, we are also gathering information to test the continuity of mineralization—especially high-grade mineralization—at depths consistent with underground mining. To date, mineralization remains open along strike and at depth, which provides opportunity for follow up targets and potential expansion of the mineral resource in these areas in the future.”

Mineralization at the Goldlund Deposit is generally characterized by quartz stockwork veining within sub-vertical granodiorite sills. Zone 4 at the Goldlund Deposit is characterized by wide intervals of mineralized intermediate-mafic volcanic rocks with multiple porphyry and granodiorite intrusions. The holes in this news release provide additional support for the grade continuity of Zone 4 and will assist in improving the geological model and upgrade Mineral Resource confidence in future mineral resource estimates.

Figure 1: Plan map showing the location of the Goldlund Zone 4 infill drillholes

Notes:

1. Reported intervals are drilled core lengths and do not indicate true widths. True widths vary from 50 to 70% of the interval length.
2. For duplicate samples, the original sample assays are used to calculate the intersection grade. All grades are uncapped.

Table 2: Locations and orientations of drill holes in the news release

Note: Drill hole locations reported as Universal Transverse Mercator NAD83 Zone 15N coordinates

About NexGold Mining Corp.

NexGold Mining Corp. is a gold-focused company with assets in Canada and Alaska. NexGold’s Goldboro Gold Project is located in Nova Scotia. The Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) is located in Northwestern Ontario. NexGold also owns several other projects throughout Canada, including the Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration property Gold Rock. In addition, NexGold holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska. NexGold is committed to inclusive, informed and meaningful dialogue with regional communities and Indigenous Nations throughout the life of all our Projects and on all aspects, including creating sustainable economic opportunities, providing safe workplaces, enhancing of social value, and promoting community wellbeing.

Further details about NexGold, including a Feasibility Study for the Goldboro Gold Project and a Prefeasibility Study for the Goliath Gold Complex, are available under the Company’s issuer profile on www.sedarplus.ca and on NexGold’s website at www.nexgold.com.

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