Mr. Kevin Bullock reports

NEXGOLD INITIATES A 25,000-METRE INFILL DIAMOND DRILL PROGRAM AT THE GOLIATH GOLD COMPLEX, ONTARIO

Nexgold Mining Corp. has commenced diamond drilling at the company's Goliath gold complex in Ontario. The drill program, which comprises up to 25,000 metres, is focused on the Goldlund deposit and is designed to infill and potentially expand open-pit mineral resources. This drill program will primarily be focused on the deeper portions of the Goldlund open-pit mineral resource, where the company would like to increase drill density and further drill test high-grade plunging shoots to test their geological continuity. The drill program was initiated late in 2025 and is anticipated to continue throughout 2026.

Kevin Bullock, president and chief executive officer, stated: "We expect 2026 will be a transformational year for Nexgold as we advance towards a final investment decision at the permitted open-pit Goldboro gold project in Nova Scotia. While that work progresses, we will continue our focus on creating value for shareholders, stakeholders and rightsholders, which includes the opportunity to optimize the Goliath complex in Ontario. The current drill program is consistent with project optimization and value creation, which will also include continued engagement with first nations communities, advancement of permitting activities, as well as feasibility and other technical studies. We anticipate regular updates on the drill program throughout the year as drill results are available."

The Goliath complex, comprising the Goliath, Goldlund and Miller deposits, includes proven and probable mineral reserves of 1,267,000 ounces of gold and 1,724,000 ounces of silver (30,319,000 tonnes at a grade of 1.30 grams per tonne gold and 1.77 g/t silver), including probable reserves of 621,000 ounces of gold (16,256,000 tonnes at a grade of 1.19 g/t gold) at Goldlund (Table 1). These mineral reserves are based on a mineral resource estimate that includes 1,784,500 ounces of gold and 2,819,100 ounces of silver in combined measured and indicated open-pit mineral resources (64,769,000 tonnes grading 0.86 g/t gold and 2.99 g/t silver), including the Goldlund deposit hosting 911,000 ounces of gold in measured and indicated open-pit mineral resources (33,353,000 tonnes at 0.85 g/t gold) (Tables 2 to 5). In addition, the Goldlund open pit includes an inferred mineral resource of 680,200 ounces of gold (28,833,000 tonnes grading 0.73 g/t gold) (Table 4).

The Goliath complex mineral reserves and mineral resource estimate were published in a technical report entitled "Goliath Gold Complex -- NI 43-101 Technical Report and Prefeasibility Study," dated March 27, 2023 (with an effective date of Feb. 22, 2023), and was prepared by Ausenco Engineering Canada Inc. The technical report is available under the company's profile on SEDAR+ and on the company's website.

Technical disclosure and qualified persons

Paul McNeill, PGeo, vice-president, 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. Nexgold's Goldboro gold project is located in Nova Scotia. The 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 the Gold Rock grassroots gold exploration property. In addition, Nexgold holds a 100-per-cent interest in the high-grade Niblack copper-gold-zinc-silver VMS (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 the company's projects and on all aspects, including creating sustainable economic opportunities, providing safe workplaces, enhancing social value and promoting community well-being.

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