Mr. Alex Klenman reports

NEXUS GOLD COMPLETES ADDITIONAL PRIVATE PLACEMENT FINANCING

Nexus Gold Corp. has completed an offering of 8.98 million units by way of a non-brokered private placement at a price of five cents per unit for gross proceeds of $449,000. Each unit consists of one common share of the company and one common share purchase warrant, with each warrant exercisable to acquire an additional share at a price of seven cents for a period of 60 months.

No finders' fees or commissions were paid in connection with completion of the offering. All securities issued in connection with the offering are subject to a four-month-and-one-day statutory hold period, in accordance with applicable securities law. The company anticipates utilizing the proceeds of the offering to advance exploration and drilling efforts at the company's McKenzie gold project, located in Red Lake, Ont., and for marketing and general working capital purposes.

The company has reached an agreement with Kruger Gold Corp. to amend the terms of a property option agreement that permits Kruger to acquire an interest in the Rakounga gold project, located in Burkina Faso, West Africa. Under the revised terms, Kruger can acquire a 90-per-cent interest in the project by completing a series of cash payments totalling $1-million and incurring exploration expenditures of at least $1.25-million in the development of the project over a five-year term. Following completion of these payments and expenditures, Kruger can acquire the remaining 10-per-cent interest in the project by completing a one-time cash payment of $1-million.

Kruger continues to oversee operations at the project and will assume responsibility for all existing royalty obligations in the event the right to acquire the project is exercised.

About Nexus Gold Corp.

Nexus Gold is a Canadian-based gold development company with an extensive portfolio of exploration projects in West Africa and Canada.

We seek Safe Harbor.