NexGold Mining Corp. (TSX-V: NEXG) (OTCQX: NXGCF) is pleased to provide initial results from its detailed Reverse Circulation infill drill program at the Company’s Goldboro Gold Project in Nova Scotia. The RC Infill Drill Program, which comprises up to 30,000 metres in 600 holes, is focused on the Goldboro Deposit and is designed to infill specific areas of the Goldboro Mineral Resource at a nominal drill spacing of 12.5 metres and down to depths of 50 metres (Figures 1 and 2).

Kevin Bullock, President, CEO & Director of NexGold, commented: “The RC Infill Drill Program is progressing very well, with over 65% of the drilling complete. Initial results from the program are confirming the location, tenor of gold grade, and thickness of mineralization at a level of detail not previously drilled at Goldboro, and within the western most areas coincident with the first years of mining.

“The Company continues to advance and strengthen the Goldboro Project as we move toward an investment decision later this year. The aim of the current infill drill program is to further de-risk the Mineral Resources and Reserves for the Project, with a focus on areas of the Mineral Resource that are expected to be mined in the early years of production, coincident with the anticipated pay-back window. These drill results will assist in informing a final investment decision expected later this year and will be incorporated in any future Mineral Resource Estimate beyond the updated Feasibility Study expected to be completed in late Q3 of this year.

“We anticipate the RC Infill Drill Program to continue into Q3 of 2026, and look forward to updating the market as assay results become available, subject to ongoing drilling progress, laboratory turnaround times and other factors.”

This high-density RC Infill Drill Program targets the first few years of planned production at the Goldboro Project where it is currently accessible by the drill rig. The goal of the drill program, and the rationale for using Reverse Circulation drilling, is to obtain a high-density data set that may be used to ultimately upgrade Mineral Resources from the Indicated to Measured category, using a drilling technique that more closely approximates production drilling and associated dilution. This information will be used in concert with more than 180,000 metres of diamond drill data currently available on the deposit to inform the first years of planned mining activity.

Drill results in this press release represent 3,265 m of drilling from 82 RC drill holes (Table 1). Based on QA/QC procedures and data as well as comparisons to previous drilling and recent modelling, the drill results are considered geologically representative of mineralization. Drilling has intersected mineralization at Goldboro typical of the deposit and confirmed mineralization at more detail but in similar tenor of grade and thickness as those intersected in diamond drill holes within the same area but at a broader spacing as shown on vertical cross sections A-H (Figure 3). A full table of significant gold intersections are provided in Table 2 below. Selected highlights from the RC Infill Drill Program include:

• 61.22 g/t gold over 12.0 m (from 18.0 m to 30.0 m), including 685 g/t gold over 1.0 m (from 23.0 m to 24.0 m) and 36.69 g/t gold over 1.0 m (from 24.0 m to 25.0 m) in drill hole RC-26-073;
• 5.85 g/t gold over 13.0 m (from 9.0 m to 22.0 m), including 61.2 g/t gold over 1.0 m (from 13.0 m to 14.0 m) in drill hole RC-26-037;
• 3.72 g/t gold over 13.0 m (from 37.0 m to 50.0 m), including11.83 g/t gold over 1.0 m (from 47.0 m to 48.0 m) in drill hole RC-26-060;
• 2.91 g/t gold over 9.0 m (from 20.0 m to 29.0 m), including 15.11 g/t gold over 1.0 m (from 21.0 m to 22.0 m) and 2.66 g/t gold over 8.0 m (from 42.0 m to 50.0 m) in drill hole RC-26-077;
• 4.02 g/t gold over 11.0 m (from 27.0 m to 38.0 m), including 37.4 g/t gold over 1.0 m (from 28.0 m to 29.0 m) in drill hole RC-26-009;
• 6.39 g/t gold over 4.0 m (from 18.0 m to 22.0 m), including 17.6 g/t gold over 1.0 m (from 21.0 m to 22.0 m) in drill hole RC-26-068;
• 6.10 g/t gold over 4.0 m (from 42.0 m to 46.0 m), including 23.65 g/t gold over 1.0 m (from 43.0 m to 44.0 m) and 1.15 g/t gold over 10.0 m (from 7.0 m to 17.0 m) in drill hole RC-26-036;
• 5.73 g/t gold over 5.0 m (from 39.0 m to 44.0 m), including 13.78 g/t gold over 1.0 m (from 42.0 m to 43.0 m) in drill hole RC-26-028;
• 2.17 g/t gold over 13.0 m (from 33.0 m to 46.0 m) in drill hole RC-26-040; and
• 1.75 g/t gold over 16.0 m (from 13.0 m to 29.0 m), including 16.82 g/t gold over 1.0 m (from 15.0 m to 16.0 m) in drill hole RC-26-032.

Figure 1. Map showing the Goldboro Project location and the planned drill hole location within current drill program relative to planned early-years of mining as reported in the 2021 Feasibility Study.

The Company expects to include the results of the RC Infill Drill Program in a future updated Mineral Resource Estimate that is independent of the ongoing updated Feasibility Study. As the updated Feasibility Study is estimated to be completed in Q3 2026, and this RC Infill Drill Program is still ongoing, the information from this program is not available to inform the current updated Goldboro Mineral Resource Estimate within the Feasibility Study timeframe. The Company previously completed a technical report on the Goldboro Project prepared by Nordmin Engineering Ltd., entitled “NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia” with an effective date of December 16, 2021 and a report date of January 11, 2022. The technical report is available on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.nexgold.com.

Figure 2. A map showing the location of drill holes reported in this press release and the associated cross sections.

Figure 3. Vertical north-south cross sections (A-H) looking east showing drill holes for the RC Infill Drill Program as reported in this press release. The cross sections correlate to those shown in Figure 2.

1. Drill Hole RC-26-001 was completed as a test-holes at the beginning of the drill program in a separate area and will be reported with other drill holes on that cross section at a later date.

1. Drill Holes between RC-26-002 and 083 not listed in Table 2 do not have significant assays.
2. True width of mineralization varies between 50 and 100% depending on the location of the drillhole and orientation of the mineralized zone.

QA / QC

The Company has implemented a quality assurance and quality control program to ensure that sampling and analytical procedures for exploration work are conducted in accordance with CIM Exploration Best Practice Guidelines. The program includes the regular insertion of certified reference materials, blanks, and laboratory prepared sample duplicates into the sample analysis stream. Laboratory QA/QC procedures also include internal standards, blanks, and repeat analyses. QA/QC results are reviewed on an ongoing basis by the Company’s technical team, and any failures or anomalous results are investigated, with re-analysis requested where appropriate.

Reverse circulation drill samples were collected at nominal one-metre intervals using a cyclone and riffle/rotary splitter system. All RC samples were weighed and sample weight variability and recovery checked throughout the drill program to ensure sample quality. A 2.5 kg sample weight was targeted throughout the program with an average recovery of ~85%. A geologist is always present at the rig to monitor drilling and sampling procedures. Representative split samples were placed in labelled sample bags, sealed, and transported under chain-of-custody procedures to ALS Canada Ltd. in Moncton, New Brunswick. ALS is independent of the Company. Samples submitted for gold analysis by PhotonAssay™ were crushed to approximately 70% passing 2 mm, after which a representative 500 g split was collected using a riffle splitter and transferred into jars for analysis at ALS in Thunder Bay, Ontario.

PhotonAssay™ uses high-energy X-rays to determine gold content from a large sample aliquot, typically 500 g of crushed material. The method is non-destructive and is particularly suited to gold systems where larger sample aliquots may improve representativity. For samples returning greater than 350 g/t Gold, an additional PhotonAssay™ analysis is completed using higher-grade standards. Due to the non-destructive nature of the PhotonAssay™ analysis, standard 30 g fire assay check analyses are conducted routinely on the jarred material to compare results with the PhotonAssay™ data and monitor analytical performance.

Selected samples analyzed via PhotonAssay™ will be re-analyzed via total pulp metallics. For the total pulp metallics analysis, the entire sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened to 150mesh. The +150mesh fraction is fire assayed for Au, and a 30 g subsample of the -150mesh fraction analyzed via fire assay. A weighted average gold grade is calculated for the final reportable gold grade. Total pulp metallics assays for drill holes sited within this press release may be updated in a future news release.

Qualified Person

Paul McNeill, P.Geo., VP Exploration of NexGold, is a “Qualified Person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the available data, composites and QAQC information related to the drill program and has approved the scientific and technical disclosure contained in this news release on behalf of NexGold.

About NexGold Mining Corp.

NexGold is a gold-focused company with assets in Canada and Alaska, including the Goldboro Gold Project in Nova Scotia, the Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) in Northwestern Ontario, and additional exploration projects across Canada. NexGold also holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project in southeast Alaska. NexGold is committed to ongoing, meaningful engagement with regional communities and Indigenous Nations to support sustainable development, safe operations, and shared economic and social benefits.

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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