NexGold Intersects 3.08 g/t over 17.0 Metres, 4.80 g/t Gold over 5.6 Metres, 84.30 g/t over 1.0 Metres and Expands Drilling Program at the Goldlund Deposit, Ontario

NeXGold Mining Corp. (NEXG) has released additional diamond drilling results from Zone 4 of the Goldlund Deposit within the Goliath Gold Complex in Ontario. The company reported 4,686 metres of core from 11 drill holes, GL-26-020 through GL-26-030B, which targeted the infill and extension of mineralization near the northeastern portion of the open-pit Mineral Resource.

The initial 25,000-metre program has been completed, and the company has expanded the program by 10,000 metres to approximately 35,000 metres. The release states that the holes confirm continuity and provide geological and grade information at depth.

Selected reported intercepts include: - GL-26-022: 84.30 g/t Au over 1.0 m from 287.0 m, plus 1.14 g/t Au over 6.5 m and 1.04 g/t Au over 7.5 m - GL-26-026: 3.08 g/t Au over 17.0 m from 426.5 m, including 70.20 g/t Au over 0.5 m and 12.60 g/t Au over 0.5 m - GL-26-025: 4.80 g/t Au over 5.6 m from 388.5 m, including 16.30 g/t Au over 0.9 m and 6.09 g/t Au over 1.0 m; plus 1.46 g/t Au over 7.3 m - GL-26-020: 1.85 g/t Au over 12.5 m from 262.5 m, including 9.17 g/t Au over 1.0 m, 7.88 g/t Au over 0.8 m and 4.55 g/t Au over 0.9 m; plus 0.70 g/t Au over 17.1 m from 15.9 m - GL-26-021: 1.44 g/t Au over 15.3 m from 300.7 m, including 7.69 g/t Au over 1.0 m - GL-26-024: 1.24 g/t Au over 16.4 m from 428.1 m, including 5.51 g/t Au over 1.0 m and 3.58 g/t Au over 0.6 m

Additional holes in the full table include GL-26-023, GL-26-027B, GL-26-028, GL-26-029 and GL-26-030B.

NeXGold Mining Corp. (NEXG) released results from an infill and step-out drilling program at its existing open-pit Goldlund resource. The company currently holds Measured and Indicated open-pit resources of 911,000 oz Au at 0.85 g/t, alongside Probable Reserves of 621,000 oz Au at 1.19 g/t. The reported drill intervals are broadly in line with these grades.

The results do not alter the resource estimate, mine plan, or economics. The expansion of drilling from 25,000 m to 35,000 m represents incremental exploration spending rather than a new development decision.

Financial context from the company’s six-month report for Q2 2026 shows a net loss of approximately C$27.4 million and operating cash flow of approximately negative C$22.2 million. Cash remains strong at C$101 million, meaning the expanded 10,000 m of diamond drilling is unlikely to be financially material against that position.

The current share price of C$1.49 is below the 52-week high of C$2.31. The recent recovery from the C$1.15–C$1.20 June lows appears more connected to Goldboro construction progress and RC infill results than to Goldlund's Zone 4 drilling.

For a company with a C$380 million market capitalization and a larger Goldboro catalyst, this Goldlund drill release serves as secondary project confirmation. It is positive but not materially new.

NeXGold Mining Corp. is a Canadian gold development company with key assets including the permitted Goldboro Gold Project in Nova Scotia, where a Feasibility Study has been completed and a construction decision is targeted for 2026. The company also holds the Goliath Gold Complex in Ontario, which includes the Goliath, Goldlund, and Miller deposits, and completed a Prefeasibility Study on the complex in March 2023. Additionally, NeXGold owns the Niblack Project in Alaska, a high-grade copper-gold-zinc-silver VMS project.

Resource and reserve highlights for the Goliath Gold Complex include 1,267,000 oz Au and 1,724,000 oz Ag in Proven and Probable Reserves, and 2,139,000 oz Au in Measured and Indicated resources. At the Goldlund open-pit, Probable Reserves stand at 621,000 oz Au at 1.19 g/t, while Measured and Indicated resources total 911,000 oz Au at 0.85 g/t.

As of Q2 2026, the company held approximately C$101 million in cash with minimal to no material third-party debt. Shares outstanding are approximately 255 million basic, or 363.8 million fully diluted including 100.4 million warrants. The primary near-term catalyst is the Goldboro construction decision and updated Feasibility Study, while Goldlund drilling supports longer-term resource optimization of the Goliath complex.