Mr. Milad Zareian reports

NEXUS GOLD ANNOUNCES SHARE CONSOLIDATION

As previously announced on April 14, 2023, Nexus Gold Corp. has confirmed that, effective at the close of business on May 17, 2023, it will consolidate its common share capital on a one-for-10 basis. Effective at the opening of markets on May 18, 2023, the common shares of the company will commence trading on a postconsolidation basis under the existing ticker symbol NXS.

The consolidation is intended to make the capital structure of the company more attractive to potential financing opportunities. The company currently has 318,733,225 common shares outstanding, and, following completion of the consolidation, it is expected that the company will have approximately 31,873,323 shares outstanding.

No fractional shares will be issued in connection with the consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole number of common shares and no cash consideration will be paid in respect of fractional shares. Registered holders of common shares of the company will receive a letter of transmittal from Computershare Trust Company of Canada with instructions on how to exchange existing share certificates for new postconsolidation share certificates.

About Nexus Gold Corp.

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in West Africa. The company will continue development of assets in West Africa in addition to broadening its scope to other jurisdictions.

We seek Safe Harbor.