Announcement • Jul 21

Nexgold Mining Corp Provides Update on Goldboro Gold Project Development Activities

NexGold Mining Corp. provided a monthly update on the advancement of key development activities at its 100%-owned and fully permitted Goldboro Gold Project in Nova Scotia during the month of June 2026. An updated Feasibility Study for Goldboro is expected to support ongoing project development activities, including the Company’s previously announced non-binding USD 175 million letter of intent with Appian Capital Advisory Limited regarding potential project financing, and to provide updated technical and economic information for consideration by the Company’s Board of Directors in evaluating a potential construction decision. The Company currently anticipates completion of the updated Feasibility Study by the end of the third quarter of 2026. The Company and its consultants continued work on the updated Feasibility Study, including: Completed open pit Mineral Resource Estimate, with underground Mineral Resource Estimate ongoing to support the Feasibility Study, including incorporation of approximately 58,008 metres of diamond drill core from 329 drill holes completed since the previous Mineral Resource Estimate; Advanced revised capital and operating cost estimates (with the initial capital cost estimate reviewed during the month), Project execution planning, and overall Project scheduling; Completed Mill Infrastructure Area Geophysical Investigation (Seismic Refraction) Report, Mill Infrastructure Area Soil Resistivity Report, and Tailings Management Facility Electrical Resistivity Tomography Survey Report; Completed Feasibility Study updates to the Process Design Criteria, Process Flow Diagrams and Mass Balance; Completed the Traffic Impact Study; Completed evaluation of electrical equipment and construction contract quotations; Advanced Mine Plan development; Completed Tailings Management Facility (“TMF”) and Potentially Acid Generating Type 1 (“PAG1”) waste rock modelling, while advancing TMF embankment and PAG1 stability assessments, water balance development, and material quantities estimate development; and Advanced preparation of technical report chapters. The Company and its engineering consultants commenced and advanced a number of detailed engineering and technical workstreams related to Goldboro, including: Advanced detailed engineering for the proposed Early Earthworks contract and the proposed Employee Accommodations Facility contract. The Company currently anticipates that early earthworks activities could commence as early as September 2026, subject to receipt of required approvals, financing, contracting, and other customary conditions; Advanced detailed engineering for the Process Plant area and non-process infrastructure areas; Prepared technical documentation to support potential early equipment procurement packages; and Submitted the overall power system model to the Nova Scotia Independent Energy System Operator. Early contracting and procurement activities for Goldboro continued and includes the following: Received proposals for the proposed Early Earthworks contract and two site services contracts; Progressed development of seven additional site services Request for Proposal (“RFP”) packages, which the Company currently expects to issue in the coming months; and Issued RFPs for the Outdoor Substation procurement package and the Power Transformers procurement package to prospective suppliers. NexGold continued its community engagement activities. NexGold personnel hosted a Contractor Information Session in Antigonish, Nova Scotia, for businesses interested in potential contracting and supplier opportunities associated with the Project. Representatives of NexGold attended the 139th Annual Mining Society of Nova Scotia AGM and Conference, providing a Project update to attendees, including +160 industry representatives, regulators, stakeholders and Rightsholders. In consultation with staff from the Municipality of the District of Guysborough, the Company dispersed more than $7,500 through its Community Grant Program to support local initiatives. NexGold presented to a Chief and Council on potential project-related opportunities and prospective contract packages. NexGold’s Vice-President, Sustainability presented at the annual Strait of Canso Superport Days event in Dundee, Nova Scotia, providing a Project update to representatives from a range of sectors attending discussions regarding the current development and future growth potential of the Superport and surrounding areas. NexGold held an important meeting with the Wellness Advisory Group, a council of female Mi’kmaw leaders established to advise NexGold on Indigenous-focused wellness measures that may be relevant during the various stages of project development and operation. The invited group includes all female Mi’kmaw Chief’s, including the Regional Chief and representatives from the Native Women’s Association, Missing Murdered Indigenous Women and Girls, and Native Friendship Centre. NexGold continues to welcome participation from additional interested representatives. The NexGold team advanced work to meet pre-construction permit conditions. The Company commenced construction on two key Fish Habitat Compensation projects for Sutherland’s Brook and the Pomquet River. Completing the construction of these projects prior to the commencement of construction activities at the Project is expected to be a significant step in meeting compensation requirements for the Project. Exploration activities at Goldboro continued to advance, including: In late June and early July 2026, NexGold reported positive initial results from its 30,000-metre reverse circulation infill drill program (“RC Infill Drill Program”), which is focused on the first years of planned production where accessible by drill rig. This drill program is designed to increase data-density within key mining areas with the potential to support upgrades to Mineral Resource classifications; Based on the success of the program to date and the potential to further enhance confidence in near-surface mineralization, the Company has elected to expand the RC Infill Drill Program from approximately 30,000 metres to 40,000 metres; On June 25 and July 9, the Company announced results from a combined total of 154 drill holes, representing 6,685 metres of drilling, and included significant gold intercepts of up to 61.22 g/t Au over 12.0 metres, 5.85 g/t Au over 13.0 metres, 12.06 g/t Gold over 6.0 Metres, and 3.84 g/t Gold over 18.0 Metres; The RC Infill Drill Program has intersected mineralization at Goldboro that is generally consistent with mineralized zones previously identified by diamond drilling in the same area. Preliminary RC drilling results indicate comparable ranges of mineralized thicknesses and grades in certain intervals; however, RC drilling results remain subject to ongoing verification, sampling, analytical review, and interpretation.

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NexGold Mining: 4.7Moz M&I Resources, $100M Cash + Debt-Free, Construction Decision 2026 Undervalued Canadian Gold Developer

A Case For NeXGold Mining Corp, a 20+ bagger by 2030 (C$40-70) or a 10 bagger by Christmas 2026 (C$16), or both?

NexGold Mining: 4.7Moz M&I Resources, $100M Cash + Debt-Free, Construction Decision 2026 Undervalued Canadian Gold Developer

A Case For NeXGold Mining Corp, a 20+ bagger by 2030 (C$40-70) or a 10 bagger by Christmas 2026 (C$16), or both?

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