Mr. Alex Klenman reports

NEXUS GOLD TO CONDUCT GEOCHEMICAL PROGRAM AT DAKOULI 2 PROJECT, BURKINA FASO, WEST AFRICA

Nexus Gold Corp. has released geochemical results from recent exploration activity at the 100-per-cent-owned, 98-square-kilometre Dakouli 2 gold project, located on the Goren greenstone belt, central Burkina Faso, West Africa.

The company recently completed a termite mound sampling program that tested 100 targets extending about 2,500 metres west, and 350 metres south, from the northeastern boundary of the Dakouli 2 exploration permit.

The survey was designed to follow up on high-grade rock samples reported earlier this year (see company news releases dated Jan. 8, 2019, and Jan. 14, 2019). These samples were collected from surface workings (orpaillages) and at depth, located at the northeast corner of the Dakouli property and the southeast corner of the company's adjacent Niangouela exploration permit.

The termite geochemical data obtained from the survey have outlined an anomalous zone extending about 500 metres west from the current workings. Based on these results, the company is now initiating a 190-line-kilometre soil geochemical survey covering the northern half of the Dakouli 2 property and southern portions of the contiguous Niangouela property.

This survey will generate important geophysical and structural data that will aid the company. Nexus is determining priority drill targets for an upcoming maiden drill program at the Dakouli 2 concession.

"The compilation of exploration data is an important step for Dakouli," said president and chief executive officer, Alex Klenman. "Although we're anxious to drill test several areas, particularly those that have produced visible gold, a methodical approach to prioritizing those drill targets will give us the best opportunity for exploration success," continued Mr. Klenman.

The Dakouli 2 exploration permit is located approximately 100 kilometres due north of the capital city, Ouagadougou. The 98-square-kilometre permit lies immediately south of the company's Niangouela property, which has been explored over the past two years. Drilling at Niangouela has returned significant intercepts, including 26.69 games per tonne gold over 4.85 metres (including one m of 132 grams per tonne Au) and four g/t Au over six m (including 20.5 g/t Au over one m).

In late 2018, the company conducted an initial mapping/sampling program at Dakouli 2, collecting 25 samples at that time. Eleven samples returned values greater than one g/t Au and five samples exhibited various concentrations of coarse, nuggety, visible gold, returning assay values greater than 11 g/t Au. All 25 samples taken to date at Dakouli 2 have tested positive, with several returning significant gold values.

Tranche close

The company is also pleased to announce that it has closed a second tranche of its non-brokered private placement. In connection with closing of the second tranche, the company has issued 3,492,565 non-flow-through units at a price of 11.5 cents per NFT unit, and 1,431,999 flow-through units at a price of 15 cents per FT unit, for gross proceeds of $616,444. When combined with the proceeds from the first tranche of the placement, the company has received gross proceeds of $1,737,109. The company intends to complete a further tranche of the placement, which may consist of both NFT units and FT units, and will provide additional information on this final tranche as soon as it becomes available.

Each NFT unit consists of one common share of the company, and one common share purchase warrant. Each NFT warrant entitles the holder to acquire an additional common share at a price of 18 cents for a period of 24 months. Each FT unit consists of one flow-through common share of the company, and one common share purchase warrant. Each FT warrant entitles the holder to acquire an additional common share at a price of 20 cents for a period of 24 months.

Flow-through funds will be used in upcoming exploration activities at the New Pilot gold project in British Columbia, and the McKenzie gold project in Red Lake, Ont.

In connection with completion of the second tranche of the placement, the company has paid finders' fees of $43,541, and has issued 191,840 NFT warrants and 143,200 FT warrants, to certain parties which assisted the company by introducing subscribers to the placement. The company may pay additional finders' fees on subsequent tranches of the placement.

All securities issued in connection with the closing of the second tranche of the placement, and any subsequent tranches, are subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Completion of any subsequent tranches of the placement remain subject to the approval of the TSX Venture Exchange.

About Nexus Gold Corp.

Nexus Gold is a Vancouver-based gold exploration and development company with active projects in West Africa and Canada. The company is currently concentrating its efforts on establishing a compliant resource at one or more of its four current Burkina Faso-based projects which total over 560 square kilometres of land located on active gold belts and proven mineralized trends.

We seek Safe Harbor.