NexGold Initiates 30,000-Metre Infill Drill Program at the Goldboro Gold Project in Nova Scotia

TORONTO, March 25, 2026 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to announce it has commenced a detailed Reverse Circulation infill drill program (“RC Infill Drill Program”) at the Company’s Goldboro Project in Nova Scotia (“Goldboro Project”). The RC Infill Drill Program, which comprises up to 30,000 metres, is focused on the Goldboro Deposit and is designed to infill specific areas of the Goldboro Mineral Resource at a nominal drill spacing of 12.5 metres and down to depths of 50 metres (Figures 1 and 2).

This high-density drill program targets the first few years of planned production at the Goldboro Project where it is currently accessible by the drill rig. The goal of the drill program, and the rationale for using Reverse Circulation drilling, is to obtain a high-density data set that may be used to upgrade Mineral Resources from the Indicated to Measured category, using a drilling technique that more closely approximates production drilling and associated dilution. This information will be used in concert with more than 180,000 metres of diamond drill data currently available on the deposit, including the data which informs the 2021 Goldboro Mineral Resource and Mineral Reserves as outlined in the Company’s technical report, prepared by Nordmin Engineering Ltd., entitled “NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia” with an effective date of December 16, 2021 and a report date of January 11, 2022 (the “Feasibility Study”). The technical report is available on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.nexgold.com.

Kevin Bullock, President and CEO, commented: “The Company continues to advance and de-risk the Goldboro Project as we move toward an investment decision later this year. The recently launched 30,000-metre infill drill program focuses primarily on areas of the Mineral Resource that are expected to be mined in the early years of production and is intended to support the refinement of the Mineral Resource model following the update to the Feasibility Study, adding greater certainty and confidence in the Mineral Resource.

This drill program is one of several value-adding activities in progress at the Goldboro Project in 2026, which include an update to the Feasibility Study that will incorporate additional drill data collected in 2025 (328 holes and 58,008 metres gathered since September 2021), updated operating and capital cost assumptions, and changes in the gold price since completion of the Feasibility Study in 2021. We are also continuing with technical, environmental, engineering, and permitting activities, as well as ongoing engagement with local communities and the Mi’kmaw of Nova Scotia, with the objective of setting the Goldboro Project up for long-term success.”

The RC Infill Drill Program is expected to continue into Q3 of 2026, with assay results received and disclosed as they become available, subject to ongoing drilling progress, laboratory turnaround times and other factors.

Figure 1. Map showing the Goldboro Project location and the current drill program relative to planned early-years of mining

Figure 2. A vertical north-south cross section looking east showing planned drill holes for the RC Infill Drill Program. The cross section is within the planned west pit of the Feasibility Study (as shown on Figure 1) and targets mineralized belts (red outlines) with the first few years of planned production.

Investor Relations Agreement

NexGold has renewed its engagement with Triomphe Holdings Ltd. (dba Capital Analytica) (“Capital Analytica”) for investor relations and communication services. Under a consulting services agreement dated March 24, 2026, Capital Analytica will provide services for a six-month term for a fee of $60,000, with an option to further renew for an additional six months. The services will include ongoing social media services, capital markets consultation, social engagement and other related investor relations services. The engagement is subject to the approval of the TSX Venture Exchange.

Capital Analytica, a British Columbia-based company owned and operated by Jeff French, is arm’s length to the Company and has no direct or indirect interest in the Company or its securities.

Technical Disclosure and Qualified Persons

Paul McNeill, P.Geo., VP Exploration of NexGold, is considered a “Qualified Person” for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical disclosure contained in this news release on behalf of NexGold.

About NexGold Mining Corp.

NexGold is a gold-focused company with assets in Canada and Alaska, including the Goldboro Gold Project in Nova Scotia, the Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) in Northwestern Ontario, and additional exploration projects across Canada. NexGold also holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project in southeast Alaska. NexGold is committed to ongoing, meaningful engagement with regional communities and Indigenous Nations to support sustainable development, safe operations, and shared economic and social benefits.

Further details about NexGold, including the Feasibility Study for the Goldboro Gold Project and the Prefeasibility Study for the Goliath Gold Complex, are available on SEDAR+ at www.sedarplus.ca and on NexGold’s website at www.nexgold.com.

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Cautionary Note Regarding Forward-Looking Information

This news release contains or incorporates by reference “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of applicable U.S. securities laws. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking information including, but not limited: to information as to the Company’s strategic objectives and plans; timing and results of drilling activities; potential for upgrading mineral resources; expected initiatives to be undertaken by management of the Company in identifying exploration opportunities; and timing of advancement and completion of technical studies. Generally, forward-looking information is characterized by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “is projected”, “anticipates” or “does not anticipate”, “believes”, “targets”, or variations of such words and phrases. Forward-looking information may also be identified in statements where certain actions, events or results “may”, “could”, “should”, “would”, “might”, “will be taken”, “occur” or “be achieved”.

Forward-looking information involve known or unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from those projected by such forward-looking statements. Such factors include, among others: the plan for, and actual results of, current exploration activities; expectations relating to a construction decision, future exploration, development and production activities as well as growth potential for NexGold’s operations; risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; reliance on third-parties, including governmental entities, for mining activities; the ability of NexGold to complete further exploration activities, including drilling at the Goldboro deposit; the ability of the Company to obtain required approvals; the results of exploration activities; risks relating to mining activities; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of mineral resources, production and cost estimates; health, safety and environmental risks; worldwide demand for gold and base metals; gold price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations; and those factors described in the Management’s Discussion and Analysis for the year ended December 31, 2024 of the Company and in the Company’s most recent disclosure documents filed under its SEDAR+ profile at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented to assist shareholders in understanding the Company’s the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/99254673-72ac-4611-ad0a-665a1c64f715

https://www.globenewswire.com/NewsRoom/AttachmentNg/e5d2a462-6383-48ab-a18f-4416d391eb43

Figure 1

Map showing the Goldboro Project location and the current drill program relative to planned early-years of mining

Figure 2

A vertical north-south cross section looking east showing planned drill holes for the RC Infill Drill Program. The cross section is within the planned west pit of the Feasibility Study (as shown on Figure 1) and targets mineralized belts (red outlines) with the first few years of planned production.

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