Mr. Milad Zareian reports

NEXUS GOLD AND BELGRAVIA HARTFORD JOINTLY ANNOUNCE REVISED DEBT SETTLEMENT TRANSACTION

Nexus Gold Corp. and Belgravia Hartford Capital Inc. have entered into a debt settlement agreement (the revised agreement). Under the revised agreement, Nexus Gold will issue a total of 3.6 million common shares at a deemed price of five cents per common share in satisfaction of outstanding indebtedness owing to Belgravia Hartford totalling $180,000. The outstanding indebtedness comprises principal amounts which were previously advanced to Nexus Gold for working capital purposes, along with accrued interest. The common shares issuable pursuant to the revised agreement will be subject to restrictions on resale for a period of four months and one day, in accordance with applicable securities laws. Completion of the debt settlement remains subject to the approval of the TSX Venture Exchange.

The revised agreement replaces in its entirety the debt settlement previously announced by Nexus Gold and Belgravia Hartford on Aug. 28, 2023, and Aug. 29, 2023, respectively, which the parties will not be proceeding with.

About Nexus Gold Corp.

Nexus Gold is a Canadian-based gold development company with an extensive portfolio of exploration projects in West Africa. The company's West African-based portfolio totals over 560 square kilometres (56,000-plus hectares) of land located on active gold belts and proven mineralized trends. The company is focusing on the development of several core assets while seeking joint-venture, earn-in and strategic partnerships for other projects in its growing portfolio.

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