Mr. Alex Klenman reports

NEXUS GOLD CLOSES INITIAL TRANCHE OF PRIVATE PLACEMENT

Nexus Gold Corp. has closed an initial tranche of its non-brokered private placement of units at a price of 25 cents per unit. Each unit consists of one common share of the company, and one common share purchase warrant. Each warrant is exercisable to acquire one additional common share of the company at a price of 35 cents per share for a period of 12 months.

In connection with completion of this initial tranche, the company issued 2,868,162 units, for gross proceeds of $717,040.50. The private placement follows the successful completion of the company's earlier financing round for gross proceeds of $3,004,068, and the company expects to complete a second and final tranche shortly.

In connection with completion of this initial tranche of the private placement, the company has paid cash commissions of $15,200, and issued 60,800 share purchase warrants to certain persons who have introduced subscribers to the company. Each finders' warrant is exercisable to acquire an additional common share of the company on the same terms as the warrants comprising the units. All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period.

About Nexus Gold Corp.

Nexus Gold is a Vancouver-based gold exploration and development company operating primarily in Burkina Faso, West Africa. The company is currently concentrating its efforts on establishing a compliant resource at one or more of its three current projects. The 38 square km Bouboulou project comprises no less than five established gold zones contained within three separate five km gold trends. The adjacent 250 square km Rakounga gold concession extends the Bouboulou gold trends and currently contains three drill tested zones of mineralization.