NexGold Continues to Intersect High-Grade Gold Mineralization at the Goldboro Open Pit Gold Project, Including 108.76 g/t Au over 1.40 metres and 67.23 g/t gold over 2.20 metres
NexGold Continues to Intersect High-Grade Gold Mineralization at the
Goldboro Open Pit Gold Project, Including 108.76 g/t Au over 1.40 metres and
67.23 g/t gold over 2.20 metres
TORONTO, July 24, 2025 -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is
pleased to provide additional drill results from a recently-completed 26,854-metre diamond drill program initially announced on
January 22, 2025 at the Company’s Goldboro Open Pit Gold Project (“Goldboro”) in Nova Scotia. The drill program is 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 an additional 11 infill
diamond drill holes (BR-25-566 to 569, BR-25-571 to 573, 577, 578, 582, and 590), totalling 1,944.05 metres, were from drilling
in the proposed west and east pits (Figures 1 and 2; Tables 1 and 2 ).
Kevin Bullock, President and CEO, stated: “ We continue to see high-grade gold assays from both the East and West
Goldbrook open pit domains and the assays continue to be generally consistent with our Mineral Resource model at Goldboro.
The numerous high grade intersections and confirmatory drilling bode well for the Mineral Resource update currently being
prepared.”
Selected drill intersections from the 11 diamond drill holes in this news release are further detailed in Table 2 and include:
• 108.76 g/t gold over 1.40 metres (from 86.60 to 88.00 metres), including 304.00 g/t gold over 0.50 metres in
drill hole BR-25-578;
• 67.23 g/t gold over 2.20 metres (from 86.80 to 89.00 metres), including 286.00 g/t gold over 0.50 metres in drill
hole BR-25-571;
• 1.46 g/t gold over 13.00 metres (from 160.00 to 173.00 metres), including 15.30 g/t gold over 0.50 metres in
drill hole BR-25-567;
• 1.12 g/t gold over 16.50 metres (from 191.50 to 208.00 metres), including 10.25 g/t gold over 1.00 metres in
drill hole BR-25-571; and
• 29.00 g/t gold over 0.50 metres (from 16.00 to 16.50 metres) in drill hole BR-25-577.
The Company has now released assay results for 111 drill holes (approximately 79%) from the infill program. Results from the
drill program, to date, continue to demonstrate 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. Significantly, the drill program continues to intersect additional gold mineralization
in areas where mineralization was previously unknown or predicted. This occurs either in under-drilled areas or near historic
drilling which were more selectively sampled. Mineralized solids 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 Mineral Resource Estimate planned for H2 2025.
Figure 1: Plan map showing the location of diamond drill holes BR-25-566, 568, 569, 571 to 573, 578 and 590
along with highlights’ assays in the proposed East Pit, Goldboro Gold Deposit
Figure 2: Plan map showing the location of diamond drill holes BR-25-567, 577 and 582
along with highlights assays in the proposed West Pit, Goldboro Gold Deposit
Table 1: Locations and orientations for 11 drill holes in this news release
Drill hole Easting Northing Elevation (m) Length (m) Azimuth Inclination Pit Area
BR-25-566 607484 5006031 59.9 242.00 360 -55 East Pit
BR-25-567 606750 5006364 61.6 206.00 337 -90 West Pit
BR-25-568 607417 5006039 46.0 224.00 360 -65 East Pit
BR-25-569 607766 5006067 55.0 140.00 360 -70 East Pit
BR-25-571 607754 5006124 66.9 224.00 360 -80 East Pit
BR-25-572 607415 5006158 57.0 251.00 360 -50 East Pit
BR-25-573 607696 5006070 64.6 245.00 360 -60 East Pit
BR-25-577 606748 5006389 62.7 46.05 277 -90 West Pit
BR-25-578 607479 5006279 63.6 185.00 360 -84 East Pit
BR-25-582 606705 5006392 62.5 32.00 287 -90 West Pit
BR-25-590 607205 5006435 56.0 149.00 180 -84 East Pit
Notes:
1. Drill hole locations reported as Universal Transverse Mercator NAD83 Zone 20 coordinates.
2. Some drill hole numbers are missing from the sequence. These drill holes are not reported in this news release since
they were drilled in another location and will be reported in a separate news release with other contiguous or related
drilling information.
3. Drill holes BR-25-466 to 565 were reported in previous news releases dated May 16, June 5, June 13, June 19, June 26,
July 10 and July 17, 2025.
Table 2: Highlighted drill intersections in this news release
Drill hole From (m) To (m) Interval (m) Gold (g/t) Pit Area
BR-25-566 74.70 76.20 1.50 0.35
East Pit
and 91.00 93.00 2.00 0.80
and 159.20 160.20 1.00 0.41
and 166.40 166.90 0.50 0.70
and 173.10 174.10 1.00 0.83
and 180.80 181.60 0.80 0.30
and 195.30 196.80 1.50 0.64
and 216.50 217.00 0.50 1.55
and 224.00 224.85 0.85 0.42
and 234.40 235.00 0.60 0.38
and 240.00 241.00 1.00 2.76
BR-25-567 60.90 61.45 0.55 0.34
West Pit
and 117.00 118.00 1.00 0.30
and 133.20 134.00 0.80 0.53
and 149.85 155.00 5.15 1.78
including 152.00 152.60 0.60 6.00
and 160.00 173.00 13.00 1.46
including 161.65 162.15 0.50 15.30
and including 168.50 169.26 0.76 4.95
and 180.45 187.50 7.05 1.66
including 186.00 186.50 0.50 7.64
and 198.75 199.40 0.65 2.06
BR-25-568 38.50 39.50 1.00 1.33
East Pit
and 78.40 80.00 1.60 0.42
and 97.25 97.75 0.50 5.53
and 105.30 106.00 0.70 0.64
and 177.00 178.00 1.00 1.55
and 208.50 209.00 0.50 28.60
and 221.00 224.00 3.00 1.32
including 221.00 222.00 1.00 3.12
BR-25-569 71.60 72.60 1.00 0.76 East Pitand 128.15 128.65 0.50 1.46
BR-25-571 51.15 54.80 3.65 0.42
and 86.80 89.00 2.20 67.23
including 86.80 87.30 0.50 286.00
and 98.75 104.00 5.25 0.67
East Pit
including 99.25 100.15 0.90 2.03
and 135.00 141.90 6.90 0.47
including 136.00 136.55 0.55 1.05
and 150.90 154.00 3.10 0.86
including 150.90 151.70 0.80 1.44
and 165.00 169.20 4.20 0.66
including 165.00 166.75 1.75 1.19
and 179.00 186.35 7.35 1.15
including 181.80 182.50 0.70 6.62
and 191.50 208.00 16.50 1.12
including 196.00 197.00 1.00 10.25
and 218.40 219.40 1.00 0.43
BR-25-572 27.00 27.50 0.50 0.61
East Pit
and 47.00 50.00 3.00 0.42
and 56.00 57.00 1.00 1.61
and 68.00 70.00 2.00 0.81
and 96.00 97.00 1.00 1.34
and 107.90 109.40 1.50 2.63
including 108.40 108.90 0.50 6.68
and 113.50 115.00 1.50 0.42
and 118.00 122.20 4.20 0.49
including 121.70 122.20 0.50 1.28
and 151.50 152.00 0.50 0.44
and 163.00 168.00 5.00 0.66
including 164.50 165.00 0.50 3.15
and 209.00 210.00 1.00 1.21
and 231.00 235.00 4.00 0.93
including 231.00 231.50 0.50 4.53
BR-25-573 65.85 66.85 1.00 3.66
East Pit
and 89.15 90.30 1.15 4.10
and 100.35 104.00 3.65 0.87
including 100.35 101.20 0.85 1.89
and 115.85 116.85 1.00 0.67
and 120.55 124.60 4.05 0.77
including 122.50 124.00 1.50 1.44
and 130.30 132.80 2.50 0.97
including 130.30 130.80 0.50 2.39
and 139.80 142.45 2.65 0.66
and 150.00 152.00 2.00 0.33
and 157.35 164.00 6.65 0.89
including 159.50 160.00 0.50 3.78
and 173.00 175.75 2.75 2.48
including 173.00 174.00 1.00 5.26
and 188.85 189.35 0.50 3.76
and 209.30 209.80 0.50 11.20
BR-25-577 10.70 12.00 1.30 2.70
West Pitand 16.00 16.50 0.50 29.00
and 21.40 22.50 1.10 0.63
including 21.40 21.90 0.50 1.02
BR-25-578 28.00 28.85 0.85 8.49
East Pit
and 73.00 73.50 0.50 0.43
and 86.60 88.00 1.40 108.76
including 86.60 87.10 0.50 304.00
and 100.30 102.40 2.10 0.44
and 119.00 120.00 1.00 0.80
and 140.00 140.73 0.73 1.74
and 161.60 162.60 1.00 0.72
BR-25-582 23.00 23.60 0.60 0.82 West Pitand 26.00 26.60 0.60 0.85
BR-25-590 22.00 23.00 1.00 0.55
East Pitand 43.10 45.00 1.90 0.30
and 52.00 52.80 0.80 0.69
and 77.40 78.00 0.60 5.92
Notes:
1. Reported intervals are drilled core lengths and do not indicate true widths. True widths are estimated at between 70-
100% of core length. For duplicate samples, the original sample assays are used to calculate the intersection grade.
All grades are uncapped.
2. Some drill hole numbers are missing from the sequence. These drill holes are not reported in this news release since
they were drilled in another location and will be reported in a separate news release with other contiguous or related
drilling information.
3. Drill holes BR-25-466 to 565 were reported in previous news releases dated May 16, June 5, June 13, June 19, June 26,
July 10 and July 17, 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, Newfoundland and Labrador or the ALS Canada Ltd. (ALS) prep lab in Moncton, NB and then the pulp is sent to
North Vancouver, BC 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 g) with an AA finish. All assays in this press 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 re-analyzed at
Eastern via total pulp metallics. For the total pulp metallics analysis, the entire sample is crushed to -10mesh and pulverized
to 95% -150mesh. The total sample is then weighed and screened to 150mesh. The +150mesh fraction is fire assayed for Au,
and a 30 g subsample of the -150mesh 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, P.Geo., VP 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 Corp. 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% interest in the high-grade
Niblack copper-gold-zinc-silver VMS 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 our
Projects and on all aspects, including creating sustainable economic opportunities, providing safe workplaces, enhancing of
social value, and promoting community wellbeing.
Further details about NexGold, including a Prefeasibility Study for the Goliath Gold Complex and a Feasibility Study for the
Goldboro Gold Project, are available under the Company’s issuer profile on www.sedarplus.ca and on NexGold’s website at
www.nexgold.com.
Contact:
Kevin Bullock Orin Baranowsky
President & CEO Chief Financial Officer
(647) 388-1842 (647) 697-2625
[email protected] [email protected]
Neither 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 news release. No stock exchange, securities
commission or other regulatory authority has approved or disapproved the information contained herein.
Cautionary Note Regarding Forward-Looking Information
This news release contains or incorporates by reference “forward-looking information” within the meaning of applicable
Canadian securities legislation and “forward-looking statements” within the meaning of applicable U.S. securities laws. Except
for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking
information including, but not limited: to information as to the Company’s strategic objectives and plans; timing and results of
drilling activities; potential for upgrading mineral resources; expected initiatives to be undertaken by management of the
Company in identifying exploration opportunities; and timing of advancement and completion of technical studies. Generally,
forward-looking information is characterized by the use of forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “is projected”, “anticipates” or “does not
anticipate”, “believes”, “targets”, or variations of such words and phrases. Forward-looking information may also be identified in
statements where certain actions, events or results “may”, “could”, “should”, “would”, “might”, “will be taken”, “occur” or “be
achieved”.
Forward-looking information involve known or unknown risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of the Company to be materially different from those projected by such forward-looking
statements. Such factors include, among others: the plan for, and actual results of, current exploration activities; expectations
relating to future exploration, development and production activities as well as growth potential for NexGold’s operations; risks
relating to the ability of exploration activities (including drill results) to accurately predict mineralization; reliance on third-
parties, including governmental entities, for mining activities; the ability of NexGold to complete further exploration activities,
including drilling at the Goliath Gold Complex and Goldboro deposits; the ability of the Company to obtain required approvals;
the results of exploration activities; risks relating to mining activities; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of mineral resources, production and cost estimates; health,
safety and environmental risks; worldwide demand for gold and base metals; gold price and other commodity price and
exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to
access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws,
royalties and environmental regulations; and those factors described in the Management’s Discussion and Analysis for the
year ended December 31, 2024 of the Company and in the Company’s most recent disclosure documents filed under its
SEDAR+ profile at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that
could cause actual actions, events or results to differ materially from those described in forward-looking information, there
may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no
assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such information. Accordingly, readers are cautioned not to place undue reliance on forward-looking
information. The forward-looking information contained herein is presented to assist shareholders in understanding the
Company’s the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not
undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/51831478-f9c6-4525-825e-798c99780da2
https://www.globenewswire.com/NewsRoom/AttachmentNg/f1ee6c36-a9cf-4f78-8e13-9ef428f84e91