Core Viewpoint - NexGold Mining Corp. has announced additional high-grade gold drill results from its Goldboro Gold Project in Nova Scotia, following a 26,854-metre diamond drill program aimed at improving geological and grade continuity of the mineral resources [1][2][3] Group 1: Drill Program Details - The drill program included 36 infill diamond drill holes totaling 5,874.2 metres, primarily focused on the proposed east pit [1][2] - Approximately 61% of the infill program has been completed, with 86 drill holes released to date [3] - The results indicate consistent mineralization with previous drill results, and additional gold mineralization has been found in previously under-drilled areas [3] Group 2: High-Grade Gold Assays - Significant assay results include: - 77.30 g/t gold over 1.25 metres in drill hole BR-25-516, including 190.50 g/t over 0.50 metres [4] - 19.32 g/t gold over 3.50 metres in drill hole BR-25-549, including 133.50 g/t over 0.50 metres [4] - 70.78 g/t gold over 0.85 metres in drill hole BR-25-492 [4] - Other notable intersections include 56.26 g/t gold over 1.00 metre in BR-25-545 and 19.18 g/t gold over 2.30 metres in BR-25-536 [4] Group 3: Mineral Resource Update and Permitting - Micon International Co Limited has been selected to complete the Mineral Resource update, which is critical for updating the existing Goldboro Feasibility Study [2] - The federal government of Canada has approved an amendment to the Metal and Diamond Mining Effluent Regulations for the Goldboro Gold Project, marking a key permitting milestone [2] Group 4: Company Overview - NexGold Mining Corp. is focused on gold mining with assets in Canada and Alaska, including the Goldboro Gold Project and the Goliath Gold Complex in Ontario [20] - The company is committed to sustainable practices and meaningful dialogue with regional communities and Indigenous Nations [20]

Core Viewpoint - NexGold Mining Corp. is advancing its 25,000-metre diamond drill program at the Goldboro Gold Project in Nova Scotia, aimed at improving geological and grade continuity of the Mineral Resource and potentially upgrading Inferred and Indicated Mineral Resources [1][3]. Drilling Program Update - The drill program is progressing well with two active diamond drills, expected to be completed by the end of Q2 2025, with final assay results anticipated in mid-Q3 2025 [1]. - A total of 42 drill holes have been released, representing approximately 30% of the proposed program, with results indicating consistent mineralization with previous drill results [4]. Assay Results - Recent assay results from 11 infill diamond drill holes totalled 3,063.00 metres, showing significant gold intersections, including: - 1.60 g/t gold over 36.80 metres in drill hole BR-25-504, with a high of 53.57 g/t over 0.60 metres [6]. - 0.83 g/t gold over 32.55 metres in the same hole, with 6.00 g/t over 1.60 metres [6]. - Additional notable intersections include 0.61 g/t over 21.80 metres in BR-25-507 and 2.47 g/t over 4.65 metres in BR-25-484 [6]. Geological Model and Resource Update - The existing geological model broadly predicts gold mineralization locations, with adjustments made for local variations where necessary [4]. - The drill program continues to identify additional gold mineralization in previously under-sampled intervals, which will be incorporated into the forthcoming Mineral Resource estimate planned for H2 2025 [4]. Feasibility Study and Permitting - The data from the drill program will support a planned update to the Feasibility Study, which is ongoing while awaiting the final decision on the Nova Scotia Industrial Approval for the project [3]. - The company has received a Notice of Completion regarding its Industrial Approval application, marking a significant milestone in the permitting process for the Goldboro Gold Project [3].

TORONTO, May 16, 2025 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to provide an update on its ongoing 25,000 metre diamond drill program initially announced on January 22, 2025 at the Company’s Goldboro Project in Nova Scotia (“Goldboro”). The drill program is primarily designed to infill specific areas of the open pit Mineral Resource identified to improve geological and grade continuity and potentially upgrade certain areas of Inferred and In ...