Mr. Kevin Bullock reports

NEXGOLD INTERSECTS 18.16 G/T GOLD OVER 2.1 METRES AND 6.91 G/T GOLD OVER 2.5 METRES AT THE GOLDBORO OPEN PIT GOLD PROJECT

Nexgold Mining Corp. has provided final drill results from a recently completed 26,854-metre diamond drill program initially announced on Jan. 22, 2025, at the company's Goldboro open pit gold project (Goldboro) in Nova Scotia. The drill program was primarily designed to infill specific areas of the open pit mineral resource identified to improve geological and grade continuity and potentially upgrade certain areas of inferred and indicated mineral resources. The assay results for the final 14 infill diamond drill holes (BR-25-585 and 593 to 603), totalling 2,072.0 metres, were from drilling in the proposed west and east pits of the Goldboro open pit gold project.

Kevin Bullock, president and chief executive officer, stated: "With the final results from this program now in hand, the company continues with its ongoing work on the Goldboro mineral resource and mine planning. We are pleased with the results, which have consistently demonstrated the presence of high-grade zones, near surface, within the planned open pits and has also indicated the potential for new zones of gold mineralization within the proposed open pits. We anticipate completing an updated mineral resource estimate within the next few months which will be used as the basis for an updated feasibility study, which will commence shortly."

Selected drill intersections from the 14 diamond drill holes in this news release are further detailed in Table 2 and include:

• 18.16 grams per tonne gold over 2.1 metres (from 147.0 to 149.1 metres), including 62.00 g/t gold over 0.6 metre in drill hole BR-25-597;
• 6.91 g/t gold over 2.5 metres (from 69.0 to 71.5 metres), including 22.10 g/t gold over 0.6 metre in drill hole BR-25-595;
• 23.20 g/t gold over 0.8 metre (from 126.0 to 126.8 metres) in drill hole BR-25-598;
• 2.19 g/t gold over 7.0 metres (from 110.7 to 117.7 metres), including 26.60 g/t gold over 0.5 metre in drill hole BR-25-585;
• 5.08 g/t gold over 3.0 metres (from 79.3 to 82.3 metres), including 28.40 g/t gold over 0.5 metre in drill hole BR-25-595.

The company has now released assay results for all 142 drill holes completed under the infill program.

Results from the drill program have demonstrated the presence of mineralization that is consistent with previous drill results in the proposed west and east pits. In particular, the existing geological model appears to broadly predict the location of gold mineralization with local adjustments to the model where mineralization is either not in the exact positions predicted by the model or if no mineralization is intersected. Throughout the drill program, additional gold mineralization was intersected in areas where mineralization was previously unknown or predicted. This occurs either in underdrilled areas or near historic drilling areas that were more selectively sampled than the current sampling approach. Mineralized solids within the mineral resource model will be adjusted where necessary to account for local variations in the model, and any impact due to additional assay data gathered during the drill program will be investigated during the forthcoming updated mineral resource estimate planned for H2 2025.

QA/QC

The company has implemented a quality assurance and quality control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the CIM exploration best practices guidelines. The NQ diameter drill core is sawn in half with one-half of the core sample dispatched to either Eastern Analytical Ltd. (Eastern) preparation facility in Springdale, Nfld., or the ALS Canada Ltd. (ALS) prep lab in Moncton, N.B., and then the pulp is sent to North Vancouver, B.C., for fire assay. The other half of the core is retained for future assay verification and/or metallurgical testing. Analysis for gold was completed by fire assay (30 grams) with an AA finish. All assays in this news release are reported as fire assays only.

For samples analyzing greater than 0.5 g/t Au via 30 g fire assay, these samples will be reanalyzed at Eastern via total pulp metallics. For the total pulp metallics analysis, the entire sample is crushed to negative 10 mesh and pulverized to 95 per cent negative 150 mesh. The total sample is then weighed and screened to 150 mesh. The plus-150-mesh fraction is fire assayed for Au, and a 30 g subsample of the negative-150-mesh fraction analyzed via fire assay. A weighted average gold grade is calculated for the final reportable gold grade. Total pulp metallics assays for drill holes sited within this news release may be updated in a future news release. Check assays are conducted at Eastern for assay samples received from ALS and check assays are conducted at ALS for assays received from Eastern following the completion of a program.

Other QA/QC procedures include the regular insertion of blanks and CDN Resource Laboratories certified reference standards. The laboratory also has its own QA/QC protocols running standards and blanks with duplicate samples in each batch stream for all analysis.

Qualified person

Paul McNeill, PGeo, vice-president of exploration of Nexgold, is considered a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical disclosure contained in this news release on behalf of Nexgold.

About Nexgold Mining Corp.

Nexgold Mining is a gold-focused company with assets in Canada and Alaska. Nexgold's Goliath gold complex (which includes the Goliath, Goldlund and Miller deposits) is located in Northwestern Ontario and its Goldboro gold project is located in Nova Scotia. Nexgold also owns several other projects throughout Canada, including the Weebigee-Sandy Lake gold project JV and grassroots gold exploration property Gold Rock. In addition, Nexgold holds a 100-per-cent interest in the high-grade Niblack copper-gold-zinc-silver VMS (volcanogenic massive sulphide) project, located adjacent to tidewater in southeast Alaska. Nexgold is committed to inclusive, informed and meaningful dialogue with regional communities and indigenous nations throughout the life of all the company's projects and on all aspects, including creating sustainable economic opportunities, providing safe workplaces, enhancing of social value and promoting community well-being.

We seek Safe Harbor.