Mr. Greg DiTomaso reports

NEXGOLD MINING SIGNS MEMORANDUM OF UNDERSTANDING WITH EAGLE LAKE FIRST NATION AND LAC SEUL FIRST NATION ON GOLIATH GOLD COMPLEX

Nexgold Mining Corp., Eagle Lake First Nation and Lac Seul First Nation have entered into a memorandum of understanding (MOU) establishing a framework for continuing collaboration, relationship building and negotiation related to the Goliath gold complex near Dryden, Ont.

The MOU reflects a commitment by all parties to increase collaboration as the project advances through environmental permitting, project planning, development and potential future operations.

The MOU also establishes a process for discussions regarding environmental stewardship, monitoring, community engagement, training and employment, business and contracting opportunities, and the incorporation of traditional knowledge and Anishinaabe laws and perspectives into project planning and development.

Additionally, the MOU creates a framework for potential future negotiations of an impact benefit agreement as well as discussions related to nation-led environmental assessment and independent monitoring initiatives to support community participation in project oversight and long-term stewardship.

Kevin Bullock, president and chief executive officer of Nexgold, stated: "This agreement marks an important step in building a respectful, constructive relationship with Eagle Lake First Nation and Lac Seul First Nation while reinforcing our broader commitment to partnering with first nations. We are dedicated to working collaboratively throughout the project's life cycle, listening, sharing knowledge and learning from one another to strengthen the project and deliver lasting benefits that respect environmental and community priorities."

Chief Wabange of Eagle Lake First Nation said the agreement provides a framework to ensure the nation's laws, perspectives and interests are meaningfully considered as project discussions continue.

"Our nation expects to be equitably involved in projects that take place within our traditional territory. As stewards of the land, we have an obligation to ensure that projects are developed in a way that respects our traditional values and relationship with the land," said Chief Wabange. "This agreement creates a pathway for continued discussions and helps ensure our perspectives, values and priorities are part of the process as the project advances and important decisions are made. Most importantly it ensures our nation's traditional laws and protocols will be respected. This allows us to advance a project together in a way that is mutually beneficial while minimizing impacts to the land."

Chief Bull of Lac Seul First Nation said the MOU reflects a shared commitment to responsible development and lasting benefits for future generations.

"This agreement represents an important step toward building a relationship grounded in opportunity and accountability and the incorporation of Anishinaabe law," said Chief Bull. "We remain committed to protecting our lands, waters and way of life while exploring opportunities that may provide sustainable economic benefits for our community."

Continuing discussions between the parties are expected to continue throughout the next phases of project assessment and development.

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-per-cent interest in the high-grade Niblack copper-gold-zinc-silver VMS (volcanogenic massive sulphide) project in southeastern Alaska. Nexgold is committed to continuing, meaningful engagement with regional communities and indigenous nations to support sustainable development, safe operations, and shared economic and social benefits.

We seek Safe Harbor.