Mr. Kevin Bullock reports

NEXGOLD ANNOUNCES CLOSING OF C$112.5 MILLION BOUGHT DEAL PRIVATE PLACEMENT OF UNITS AND FLOW-THROUGH SHARES

Nexgold Mining Corp. has closed its previously announced bought deal private placement pursuant to which Nexgold issued 69,445,000 units of the company at a price of $1.44 per unit for aggregate gross proceeds of $100,000,800, and 7,944,000 flow-through shares at a price of $1.58 per FT share for aggregate gross proceeds of $12,551,520. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant is exercisable to acquire one common share of the company until Oct. 31, 2027, at an exercise price of $1.92. At any time following Jan. 31, 2027, if the closing price of the common shares on the TSX Venture Exchange exceeds the exercise price for 20 or more consecutive trading days, the company may, within 10 days following such occurrence, deliver a notice to the holders thereof accelerating the expiry date of the warrants to a date that is 30 days after the date of such notice.

The offering was led by National Bank Financial Inc. and included BMO Capital Markets and Red Cloud Securities Inc. The underwriters were paid a cash commission equal to 5.0 per cent of the gross proceeds of the offering, excluding proceeds from the sale of $10-million worth of units to certain president's list purchasers, on which 2.5-per-cent commission was payable.

The net proceeds from the units will be used to finance expenditures related to the development of the Goldboro open-pit gold project and for general corporate and working capital purposes. An amount equal to the aggregate gross proceeds from the sale of the FT shares will be used to incur, on or before Dec. 31, 2026, "Canadian exploration expenses," that will qualify as "flow-through mining expenditures" (each term within the meaning of the Income Tax Act (Canada).

The securities issued pursuant to the offering will be subject to a four-month-plus-one-day hold period commencing today under applicable Canadian securities laws.

Insiders of the company have subscribed for a total of 287,500 units under the offering for aggregate gross proceeds of $414,000 and a total of 178,000 FT shares under the offering for aggregate gross proceeds of $281,240. The subscription by each "insider" is considered to be a "related party transaction" for the purposes of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company did not file a material change report more than 21 days before the closing date of the offering as the details of the offering and the participation therein by each "related party" of the company were not settled until shortly prior to the closing of the offering and the company wished to close the offering on an expedited basis for sound business reasons.

About Nexgold Mining Corp.

Nexgold is a gold-focused company with assets in Canada and Alaska. Nexgold's Goldboro gold project is located in Nova Scotia, and its Goliath gold complex (which includes the Goliath, Goldlund and Miller deposits) is located in Northwestern Ontario. Nexgold also owns several other projects throughout Canada, including the Weebigee-Sandy Lake gold project joint venture and grassroots gold exploration property Gold Rock. In addition, Nexgold holds a 100-per-cent interest in the high-grade Niblack copper-gold-zinc-silver volcanogenic massive sulphide project, located adjacent to tidewater in southeastern Alaska. Nexgold is committed to inclusive, informed and meaningful dialogue with regional communities and indigenous nations throughout the life of all its projects and on all aspects, including creating sustainable economic opportunities, providing safe workplaces, enhancing of social value and promoting community well-being.

We seek Safe Harbor.