Nexus Gold Applies For 14,151 Hectares in Colombia's South Bolivar Gold District

Nexus Gold Corp. has submitted eight mineral concession applications covering approximately 14,151 hectares in the South Bolívar gold district of Colombia. The applications are located roughly 8 km northwest of Santa Rosa del Sur within the Serranía de San Lucas region, an area known for structurally controlled mesothermal gold systems and artisanal mining.

The company outlines a staged exploration strategy beginning with geological mapping, structural analysis, and sampling of historical artisanal workings, followed by geochemical and geophysical surveys to prioritize targets for potential diamond drilling. No historical systematic drilling has been identified within the application areas.

The Walter Mine, located roughly 20 km away, serves as a geological analogue with reported high-grade historical sampling, though Nexus clarifies it holds no interest in the mine and results are not indicative of its applications. The move follows a change in Colombia's government, which has signaled support for natural-resource investment and more efficient permitting.

In a secondary announcement, Nexus Gold granted 800,000 incentive stock options to directors and officers at an exercise price of $0.17 per share, vesting over 12 months.

Nexus Gold Corp. (NXS) has filed a concession application with Colombia's National Mining Agency (ANM), an early-stage administrative step subject to review and approval that does not constitute held mineral titles. The move aligns with the company's stated strategic pivot outlined in its latest MD&A, which explicitly notes a shift in focus toward evaluating mineral opportunities in Colombia due to the Burkina Faso asset hiatus and financing constraints.

The announcement is considered incremental and expected, providing no immediate funding, not resolving the going concern status, and carrying no near-term catalyst for revenue or production. Additionally, the stock options grant is minor and routine for management retention. The release serves as a procedural follow-up to management's previously communicated strategy and does not alter the fundamental risk profile or liquidity position.

Nexus Gold Corp. (NXS) is an early-stage gold exploration company that has historically focused on operations in Burkina Faso, West Africa. Its primary historical assets included the 100%-owned Dakouli 2 Gold Concession, covering 9,388 hectares, and the Rakounga Gold Concession, spanning 250 square kilometers. Due to a multi-year exploration hiatus and financing constraints, the Dakouli 2 asset was impaired to a nominal value of $1,000.

The company is now pivoting its exploration focus to Colombia, specifically targeting the South Bolívar district to evaluate underexplored ground and advanced projects. No mineral resources, reserves, or economic studies have been disclosed, as the company remains in the pre-drill, land-acquisition phase.