File: '\\swfile\EmailIn\20251103 053006 Attachment Nexus Gold Corp. - News Release - Debt Settlement Transaction V1.docx'

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NEWS RELEASE

NEXUS GOLD ANNOUNCES DEBT SETTLEMENT TRANSACTION

Vancouver, British Columbia - November 3, 2025 - Nexus Gold Corp. (the "Company") (TSX-V: NXS) announces that it has reached agreements with certain creditors (the "Creditors") of the Company to settle (the "Debt Settlement") outstanding indebtedness totaling $996,429 in consideration for the issuance of 9,489,800 units (each, a "Settlement Unit") at a deemed price of $0.105 per Settlement Unit. Each Settlement Unit will consist of one common share of the Company and one-half-of-one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire an additional common share of the Company at a price of $0.20 for a period of twenty-four months.

Completion of the Debt Settlement remains subject to the approval of the TSX Venture Exchange. All securities issued in connection with the Debt Settlement will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws. In addition to restrictions prescribed by applicable securities laws, the Creditors have agreed that the Settlement Units will be subject to a voluntary pooling arrangement during which time they cannot be transferred or assigned. The Settlement Units will be released from the pooling arrangement in three equal tranches on June 30th, September 30th and December 31st, 2026.

ON BEHALF OF THE BOARD OF NEXUS GOLD CORP.

"Edward Kelly"

Edward Kelly, Chief Executive Officer

For further information please contact:

Edward Kelly, Chief Executive Officer

info@nexusgoldcorp.com

Forward-Looking Statements

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

TSX Venture Exchange Disclaimer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.