NexGold Intersects 5.26 g/t Gold over 7.0 Metres and 7.08 g/t Gold over 5.0 Metres in RC Infill Drill Program at the Goldboro Gold Project, Nova Scotia

NeXGold Mining Corp. (NEXG) has released additional assay results from its 40,000-metre reverse-circulation infill drill program at the Goldboro Gold Project in Nova Scotia. This latest release covers 3,591 metres from 85 RC holes in the west pit area. The program is designed to drill at approximately 12.5-metre spacing down to about 50 metres, targeting shallow mineralization planned for the early years of the mine plan. NeXGold states that more than 76% of the expanded 40,000-metre program is complete.

The objective of the drilling is to increase confidence in the mineral resource and potentially support classification upgrades from Indicated to Measured, using RC drilling that more closely approximates production drilling and dilution. The company says these results may support a future mineral resource estimate separate from the updated feasibility study, and that they are expected to inform a potential final investment decision later in 2026.

Key reported intersections include: * RC-26-226: 5.26 g/t Au over 7.0 metres from 41.0 m to 48.0 m, including 31.29 g/t Au over 1.0 metre from 44.0 m to 45.0 m. * RC-26-195: 7.08 g/t Au over 5.0 metres from 9.0 m to 14.0 m, including 25.11 g/t Au over 1.0 metre from 9.0 m to 10.0 m. * RC-26-163: 14.97 g/t Au over 2.0 metres from 38.0 m to 40.0 m, including 29.62 g/t Au over 1.0 metre, and 0.90 g/t Au over 11.0 metres from 25.0 m to 36.0 m. * RC-26-168: 5.42 g/t Au over 3.0 metres from 36.0 m to 39.0 m, including 15.69 g/t Au over 1.0 metre, plus 1.09 g/t Au over 9.0 metres and 5.10 g/t Au over 1.0 metre. * RC-26-223: 1.10 g/t Au over 10.0 metres and 2.44 g/t Au over 4.0 metres. * RC-26-176: 18.54 g/t Au over 1.0 metre. * RC-26-219: 1.40 g/t Au over 7.0 metres and 7.03 g/t Au over 1.0 metre. * RC-26-227: 1.61 g/t Au over 7.0 metres.

The release states true width is between 50% and 100% of downhole interval length, depending on location and zone orientation. The release also notes that holes not listed in the assay table do not have significant assays, and assays remain pending for other holes in the program.

NeXGold Mining Corp. (NEXG) released drill results rather than earnings data. According to prior-period financial statements, the company held C$101.1 million in cash as of June 30, 2026, reported no revenue, and posted a first-half 2026 net loss of C$27.4 million. NeXGold is a developer moving toward a potential final investment decision on Goldboro, rather than a grassroots explorer making a first discovery.

The release does not announce a new mineral resource estimate, reserve estimate, feasibility study, financing commitment, or final investment decision. It explicitly states that the reverse circulation (RC) results are expected to be incorporated into a future mineral resource estimate separate from the updated feasibility study, which limits the immediate technical-study impact. For a developer at this stage, infill drilling is often incremental unless it materially changes reserves, mine plan, grade profile, or financing economics.

The results show some intervals above the open-pit resource grade and support the company’s narrative of continuity in the west pit. However, the results are not strong enough to be considered materially new on their own because they do not transform the deposit, expand the known system, or change the project economics. The current share price is more likely tied to the feasibility study, financing, and final investment decision than to this specific batch of infill assays.

The prior high-grade RC hole of 61.22 g/t over 12.0 m was reported in June 2026, but price data does not show that hole creating a durable new valuation plateau. The stock later traded down from its February 2026 high and has been basing lower. Therefore, the market does not appear to be fully pricing in a repeat of that exceptional hole. On balance, the release is confirmatory and incrementally supportive, but not valuation-changing.

NeXGold Mining Corp. is a Canadian gold-focused exploration and development company whose flagship asset is the Goldboro Gold Project in Nova Scotia. Goldboro is described as permitted and 100% owned, with an open-pit and underground development profile. The provided investor presentation states Goldboro open-pit measured and indicated resources of about 1.4 million ounces of gold at 2.82 g/t Au. The presentation also states Goldboro underground measured and indicated resources of about 1.2 million ounces of gold at 6.09 g/t Au.

The 2021 Goldboro feasibility study in the presentation shows an after-tax NPV at 5% of C$328 million, IRR of 25.5%, initial capex of C$271 million, and life-of-mine AISC of US$849 per ounce at a US$1,600 gold price and 0.80 FX assumption. The same presentation shows an upside scenario at US$1,920 gold with NPV above C$556 million and IRR of 37.5%. These economic figures are prior study context, not new results from the current release.

NexGold’s second major asset is the Goliath Gold Complex in northwestern Ontario, which includes Goliath, Goldlund, and Miller deposits. The Goliath complex has a prefeasibility study and has been the subject of infill drilling aimed at resource continuity and potential expansion. NexGold also holds the Niblack copper-gold-zinc-silver VMS project in southeast Alaska.

The company’s balance sheet, based on provided Q2 2026 financials, shows C$101.1 million in cash and minimal debt. The provided presentation shows a substantial warrant overhang, with 100.4 million warrants and fully diluted shares of about 363.8 million. The company has financing support in the form of a non-binding US$175 million letter of intent with Appian Capital Advisory for potential Goldboro project financing.