NexGold Intersects 1.35 g/t Gold over 38.9 Metres, 1.42 g/t Gold over 27.2 Metres, and 54.04 g/t Gold over 1.3 Metres at the Goldlund Deposit, Ontario

NeXGold Mining Corp. (NEXG) has released additional diamond-drill results from the Goldlund Deposit, a component of the Goliath Gold Complex in Ontario. The latest batch encompasses 5,088 meters across 13 holes, designated GL-26-041 through GL-26-053.

The drilling program at Goldlund was initially planned for 25,000 meters, subsequently expanded to 35,000 meters, and is now being increased to 37,000 meters to test the down-dip extension. The company states the program is scheduled for completion by year-end.

The headline wide intervals, reported on core length, include:

• GL-26-042: 38.9 m at 1.35 g/t Au from 222.5 m, including 0.5 m at 52.80 g/t and 1.0 m at 13.50 g/t.
• GL-26-052: 27.2 m at 1.42 g/t Au from 371.8 m, including 1.0 m at 14.60 g/t and 1.2 m at 7.87 g/t.
• GL-26-043: 17.8 m at 1.35 g/t Au from 233.0 m, including 1.0 m at 3.89 g/t and 0.8 m at 7.89 g/t; also 6.4 m at 0.92 g/t from 275.5 m.
• GL-26-048: 9.0 m at 3.13 g/t Au from 234.0 m, including 1.0 m at 23.50 g/t; also 10.4 m at 1.74 g/t from 281.0 m and 3.3 m at 1.08 g/t.
• GL-26-049: 7.0 m at 3.07 g/t Au from 255.0 m, including 1.5 m at 5.14 g/t and 1.0 m at 12.60 g/t; also 2.0 m at 1.54 g/t and 13.5 m at 0.38 g/t.
• GL-26-047: 0.5 m at 60.70 g/t Au from 300.0 m; also 1.0 m at 11.80 g/t, 0.9 m at 9.69 g/t and 19.5 m at 0.44 g/t.
• GL-26-053: 1.3 m at 54.04 g/t Au from 265.2 m, including 0.7 m at 91.70 g/t; also 10.6 m at 0.84 g/t and 12.0 m at 0.71 g/t.
• GL-26-051: 0.7 m at 93.40 g/t Au from 190.2 m in an “Interzone” interval; also 0.6 m at 21.40 g/t in Zone 4.

The release also reports GL-26-041: 8.8 m at 1.65 g/t; GL-26-046: 14.8 m at 0.63 g/t and 3.7 m at 1.53 g/t; GL-26-050: 13.0 m at 1.40 g/t, 12.0 m at 0.57 g/t and 5.3 m at 1.49 g/t.

Reported intervals represent core lengths rather than true widths. The company notes that true widths typically range from 50% to 75% of the interval length. All grades are uncapped, and no cutoff grade is stated.

Quality assurance and quality control procedures involved Activation Laboratories in Dryden, Ontario. The process included lead-collection fire assay with AAS and/or gravimetric finish on 50 g samples. Blanks and certified reference standards were inserted at a rate of one in ten samples, quarter-core duplicates at one in twenty, and check assays were conducted at a secondary ISO-certified laboratory in Mississauga.

Paul McNeill, P.Geo., VP Exploration, is named as the Qualified Person.

NeXGold Mining Corp. (NEXG) is an advanced developer rather than a producer, with an equity value of C$328 million based on a share price of C$1.27 and approximately 258 million basic shares. The company’s primary value driver is the Goldboro project, where an updated feasibility study and a potential construction decision are expected in the fourth quarter of 2026. Goldlund serves as a secondary pipeline asset.

The appropriate expectation anchor for recent drill holes is the Goldlund resource grade, rather than previous high-grade headlines. Intercepts of 1.35-1.42 g/t over 27-39 m are at or above the 1.19 g/t probable reserve grade and exceed the 0.85 g/t measured and indicated open-pit grade.

The stock has round-tripped from C$2.31 in February 2026 to C$1.14 in early November 2026, closing at C$1.27 on November 9. The market is not priced for perfection at Goldlund, and this release does not deliver a new zone, a resource upgrade, a scale step-change, or a material change to Goldboro. The 2,000 m programme increase is incremental.

NeXGold Mining Corp. (TSXV: NEXG, OTCQX: NEXG) is a gold developer with assets in Nova Scotia, Ontario, and Alaska. Its primary asset is the Goldboro Gold Project in Nova Scotia. The company also holds the Goliath Gold Complex in northwestern Ontario, which includes the Goliath, Goldlund, and Miller properties, as well as the Niblack copper-gold-zinc-silver VMS project in southeast Alaska.

Goldboro serves as the near-term value driver. A January 2022 feasibility study outlined an 11-year open-pit operation producing approximately 100,000 ounces of gold per year. The study projected initial capital costs of C$271 million, a life-of-mine all-in sustaining cost of US$849 per ounce, and an after-tax net present value of C$328 million based on a US$1,600 per ounce gold price. The project is permitted, with early works scheduled to begin in September 2026. The board is targeting a construction decision for the fourth quarter of 2026.

Goliath is a secondary development asset. A March 2023 prefeasibility study contemplated a 13-year operation producing approximately 90,000 ounces of gold per year with an 92.8% gold recovery rate. The study projected initial capital costs of C$335 million and an after-tax net present value of C$336 million based on a US$1,750 per ounce gold price.

As of June 30, 2026, NeXGold reported cash of C$101.1 million, a six-month net loss of C$27.4 million, and total equity of C$230.4 million. The company reported no revenue. While the company is pre-revenue and funded for its current programme, it remains dependent on project financing and future equity or debt to fund construction at Goldboro.

According to an October 2026 investor presentation, NeXGold has 258.4 million shares outstanding, 98.1 million warrants, and 364.0 million fully diluted shares. At a price of C$1.27, the basic market capitalization is approximately C$328 million and the fully diluted market capitalization is approximately C$462 million.