NexGold Intersects 14.07 g/t Gold over 7.0 Metres, 9.76 g/t Gold over 8.0 Metres and 2.84 g/t Gold over 13.0 Metres at the Goldlund Deposit, Ontario

NeXGold Mining Corp. (NEXG) has released assay results from 10 diamond drill holes (GL-26-031 to GL-26-040), totaling 3,603 meters, as part of the Zone 4 infill and extension program at the Goldlund Deposit, which is part of the Goliath Gold Complex near Dryden, Ontario. The company reports that approximately 31,971 meters of the expanded 35,000-meter program are complete, with the balance expected by the end of 2026.

The headline hole, GL-26-034, returned 7.0 meters at 14.07 grams per tonne of gold (g/t Au) from 187.0 to 194.0 meters, including 1.0 meter at 95.70 g/t. It also returned 8.0 meters at 9.76 g/t from 170.0 to 178.0 meters, including 1.0 meter at 74.10 g/t, and 13.0 meters at 2.84 g/t from 205.0 to 218.0 meters, including 1.2 meters at 21.70 g/t. Additional intercepts in GL-26-034 included 1.0 meter at 53.00 g/t from 74.0 to 75.0 meters, and 29.7 meters at 0.55 g/t from 243.5 to 273.2 meters.

Other notable intercepts included GL-26-032, which returned 15.5 meters at 2.23 g/t from 123.5 to 139.0 meters, including 0.5 meters at 40.50 g/t, and 9.1 meters at 1.49 g/t from 433.9 to 443.0 meters. GL-26-033 returned 22.0 meters at 1.25 g/t from 166.0 to 188.0 meters, including 0.5 meters at 40.50 g/t, and 42.8 meters at 0.84 g/t from 245.7 to 288.5 meters, including 1.3 meters at 7.04 g/t. GL-26-039A returned 17.1 meters at 1.51 g/t from 218.9 to 236.0 meters, and 6.2 meters at 2.04 g/t from 196.2 to 202.4 meters.

The remaining holes reported lower-grade intercepts. GL-26-035 returned 17.0 meters at 0.46 g/t, 5.6 meters at 0.57 g/t, and 14.8 meters at 0.43 g/t. GL-26-036 returned 3.0 meters at 1.02 g/t. GL-26-037 returned 5.5 meters at 1.07 g/t and 14.0 meters at 0.62 g/t. GL-26-038 returned 8.0 meters at 0.65 g/t plus 0.5 meters at 26.80 g/t. GL-26-040 returned 11.5 meters at 0.81 g/t.

NeXGold stated that the results indicate grade continuity at depth, within reach of a potential open pit. The company noted that the results will inform geological model refinement and may support future Mineral Resource classification. In separate, prior context, Goldboro commenced early works construction in mid-September 2026.

NeXGold Mining Corp. (NEXG) is a developer rather than a grassroots explorer, holding a fully permitted flagship project at Goldboro, Nova Scotia, with a construction decision pending in Q4 2026. The company has secured a US$175 million project-financing letter of intent with Appian and holds C$101.1 million in cash as of June 30, 2026. Goldlund serves as the secondary asset, with the Goliath feasibility study deliberately paused to prioritize Goldboro.

Recent drilling at Goldlund consisted of infill and extension holes within an already-defined resource, specifically the open-pit Measured and Indicated resource of 911 koz at 0.85 g/t and a Probable Reserve of 621 koz at 1.19 g/t. These holes sit inside or adjacent to the existing geological model. Using the anchor method, the correct comparator for infill drilling is the resource grade rather than previous headline hole gram-metres. This batch confirmed the resource, with several intervals at or well above 1 g/t, including GL-26-034 which was materially above the threshold.

The best prior Zone 4 hole was GL-26-007, reporting 15.21 g/t over 20.1 meters (~306 g.m), released on May 19, 2026. That result was not embedded in the stock price, which fell from approximately C$1.34 on May 19 to ~C$1.15 in July. Consequently, there is no embedded high bar for this batch to clear, and the weaker gram-metres versus GL-26-007 are not considered a negative.

The equity price series shows the stock round-tripped from a C$2.31 peak in February to C$1.15 in June/July, recovering modestly to C$1.63. This recovery has tracked Goldboro development milestones and a firmer gold tape rather than Goldlund drilling. The August 25 Goldlund release moved the stock from C$1.49 to C$1.48, indicating that Goldlund infill results are not what the market is currently discounting.

This release represents an incremental, technical, as-expected infill confirmation on the secondary asset. It does not change the scale, grade tenor at the deposit level, or the odds of the system, nor will it move reserves or net asset value on its own. The data serves as a routine positive point for future resource modelling.

NeXGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) is a Canadian gold-focused developer formed through a 2024 combination that created a multi-asset company, led by CEO Kevin Bullock and Chairman Jim Gowans.

The company’s flagship asset is the 100%-owned, fully permitted Goldboro Gold Project in Nova Scotia. A feasibility study effective in December 2021 outlined a mine life of approximately 10.9 years with production of roughly 100,000 ounces of gold per year. The study indicated initial capital costs of C$271 million, an after-tax net present value at a 5% discount rate of C$328 million, an internal rate of return of 25.5%, and a gold recovery rate of 95.8% at a price of US$1,600 per ounce. Mineral resources include an open-pit measured and indicated resource of 1,422,000 ounces at 2.82 grams per tonne and an underground measured and indicated resource of 1,159,000 ounces at 6.09 grams per tonne.

The Goliath Gold Complex in Ontario, comprising the Goldlund, Goliath, and Miller properties, is the target of the current release. A pre-feasibility study established probable reserves of 1,267,000 ounces of gold at 1.30 grams per tonne and 1,724,000 ounces of silver. The Goldlund open-pit contains a probable reserve of 621,000 ounces at 1.19 grams per tonne and a measured and indicated resource of 1,784,500 ounces at 0.86 grams per tonne.

In Alaska, the Niblack property is a high-grade copper-gold-zinc-silver volcanogenic massive sulfide deposit. A resource estimate from February 2023 identified 5,851,000 tonnes grading 1.83 grams per tonne gold, 0.94% copper, and 1.73% zinc.

As of the second quarter of 2026, the company reported C$101.1 million in cash and total equity of C$230.4 million, with no material third-party debt. The book value stood at approximately C$0.90 per share. For the six months ended June 30, 2026, the company recorded a net loss of C$27.4 million. The capital structure consists of approximately 255 to 258 million shares outstanding, following a C$112.5 million raise in October 2025. The company also holds approximately 98.8 million warrants with exercise prices ranging from C$0.84 to C$1.92, averaging C$1.68.

Regarding financings and royalties, the company sold a 2.9% net smelter return royalty to Appian for US$24 million, retaining buyback rights. An LOI for US$175 million in project financing was also signed with Appian, alongside a streaming royalty agreement with Sprott that includes quarterly share-settled minimum payments.