NexGold Intersects 5.26 g/t Gold over 7.0 Metres and 7.08 g/t Gold over 5.0 Metres in RC Infill Drill Program at the Goldboro Gold Project, Nova Scotia
NexGold Intersects 5.26 g/t Gold over 7.0 Metres and 7.08 g/t Gold over 5.0
Metres in RC Infill Drill Program at the Goldboro Gold Project, Nova Scotia
TORONTO, Aug. 19, 2026 -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is
pleased to provide additional results from its 40,000-metre, detailed Reverse Circulation infill drill program (“ RC Infill Drill
Program”) at the Company’s Goldboro Gold Project in Nova Scotia (“ Goldboro Project ”). The RC Infill Drill Program is
focused on the Goldboro Deposit and is designed to infill specific areas of the Goldboro Mineral Resource within the planned
west and east pits at a nominal drill spacing of 12.5 metres and down to depths of 50 metres ( Figures 1 and 2).
Kevin Bullock, President, CEO & Director of NexGold, commented: “The RC Infill Drill Program is progressing very well, with
over 76% of the expanded drilling program complete. With our recently closed flow-through financing of $10M, we made the
decision to increase the drilling program from 30,000 metres to 40,000 metres in order to further define Mineral Resources at
shallow levels, consistent with the initial years of the mine plan within the west and east pits. We continue to see assay
results that support the location, grade tenor and thickness of mineralization within the west pit at a level of detail not
previously drilled at the Goldboro Project, including within the central area of the west pit that is scheduled for the initial years
of mining.
“The Company continues to advance the Goldboro Project as we move toward a potential investment decision later this year.
The objective of the current infill drill program is to further increase confidence in the Mineral Resources and Mineral Reserves
supporting the Project, with a focus on areas of the Mineral Resource expected to be mined during the early years of
production and within the anticipated payback period. These drill results are expected to support the evaluation of a final
investment decision and may be incorporated into future Mineral Resource estimates beyond the updated Feasibility Study,
which is expected to be completed later this year.
“We anticipate the RC Infill Drill Program will continue throughout Q3 2026 and look forward to providing updates as assay
results become available, subject to drilling progress, laboratory turnaround times and other factors.”
The high-density RC Infill Drill Program targets areas of the Goldboro Project associated with the initial years of the current
mine plan and that are presently accessible for drilling. The objective of the program, and the rationale for using Reverse
Circulation (“RC”) drilling, is to obtain a high-density data set that may support future evaluation of the Mineral Resource for
potential classification upgrades from the Indicated to Measured category, using a drilling technique that more closely
approximates production drilling and associated dilution. The Company expects this information to be used in conjunction with
more than 180,000 metres of existing diamond drill data to support planning and evaluation of the initial years of mining
contemplated in the current mine plan.
Drill results in this news release represent 3,591 metres of drilling from 85 RC drill holes (RC-26-160 to 196, RC-26-199 to 205,
RC-26-209 to 229 and RC26-254 to 258, 261, and RC-26-310 to 323) completed within the west pit area ( Table 1 ). Based on
QA/QC procedures and data, as well as comparisons with historical drilling and ongoing geological interpretation, the drill
results are considered consistent with the Company’s current understanding of the mineralization. The drilling intersected
mineralization consistent with the geological model for the Goldboro Deposit and provided additional definition of the
mineralized zones at a higher drill density. Results show grade tenor and thickness as those intersected in diamond drill
intersections in the same area, which were completed at wider spacing, as illustrated on vertical cross sections T-AD ( Figure
3). A complete table of significant gold intersections is provided in Table 2 below. Selected highlights from the RC Infill Drill
Program include:
• 5.26 g/t Au over 7.0 m (from 41.0 m to 48.0 m), including 31.29 g/t Au over 1.0 m (from 44.0 to 45.0 m) in drill hole RC
-26-226;
• 7.08 g/t Au over 5.0 m (from 9.0 m to 14.0 m), including 25.11 g/t Au over 1.0 m in drill hole RC-26-195;
• 14.97 g/t Au over 2.0 m (from 38.0 m to 40.0 m), including 29.62 g/t Au over 1.0 m and 0.90 g/t Au over 11.0 m (from
25.0 m to 36.0 m) in drill hole RC-26-163;
• 5.42 g/t Au over 3.0 m (from 36.0 m to 39.0 m), including 15.69 g/t Au over 1.0 m, 5.10 g/t Au over 1.0 m (from 7.0 m
to 8.0 m) and 1.09 g/t Au over 9.0 m (from 25.0 m to 34.0 m) in drill hole RC-26-168;
• 1.10 g/t Au over 10.0 m (from 7.0 m to 17.0 m) and 2.44 g/t Au over 4.0 m (from 33.0 m to 37.0 m) in drill hole RC-26
-223;
• 18.54 g/t Au over 1.0 m (from 16.0 m to 17.0 m) in drill hole RC-26-176;
• 1.40 g/t Au over 7.0 m (from 32.0 m to 39.0 m) and 7.03 g/t Au over 1.0 m (from 6.0 m to 7.0 m) in drill hole RC-26-
219; and
• 1.61 g/t Au over 7.0 m (from 16.0 m to 23.0 m) in drill hole RC-26-227.
Figure 1. Map showing the Goldboro Project location and the planned drill hole locations for the current RC Infill Drill Program
relative to the initial years of mining contemplated in the 2021 Feasibility Study.
The Company expects to incorporate the results of the RC Infill Drill Program into a future updated Mineral Resource Estimate
that is expected to be completed separately from the ongoing updated Feasibility Study. As the updated Feasibility Study is
expected to be completed later in 2026, and the RC Infill Drill Program remains ongoing, results from the program will not be
available for incorporation into the Mineral Resource Estimate supporting the updated Feasibility Study. The Company
previously completed a technical report on the Goldboro Project prepared by Nordmin Engineering Ltd., entitled “NI 43-101
Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia”, with an
effective date of December 16, 2021 and a report date of January 11, 2022 (the “2021 Feasibility Study”). The technical report
is available on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.nexgold.com.
Figure 2. A map showing the location of drill holes reported in this news release and the associated cross sections relative to
planned early-years of mining as reported in the 2021 Feasibility Study.
Figure 3. Vertical north-south cross sections (T-AD) looking east showing drill holes for the RC Infill Drill Program reported in
this news release. The cross sections correspond to the section lines shown in Figure 2. Areas along the section lines
without drill holes represent portions of the deposit that are not currently accessible to drilling due to historical workings or
surface access constraints. These areas are expected to be drilled in the future when access becomes accessible.