NexGold Receives Schedule 2 Amendment Approval for Goldboro Gold Project
NexGold Receives Schedule 2 Amendment Approval for Goldboro Gold Project
TORONTO, July 08, 2025 -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is
pleased to announce that the federal government of Canada has approved an amendment to Schedule 2 of the Metal and
Diamond Mining Effluent Regulations (“MDMER”) for the Goldboro Gold Project (“ Goldboro”). This amendment lists one
geographic area encompassing seven water bodies located within the footprint of the Project’s tailings management facility
(TMF) to Schedule 2 of the Regulations, thereby designating them as tailings impoundment areas. The amendment was
published in the Canada Gazette, Part II, on July 2, 2025.
Kevin Bullock, President and CEO, stated: “ The approval of the Schedule 2 amendment for Goldboro is another significant
step towards a construction decision and is the culmination of significant effort by the NexGold team. This is another key
catalyst for Goldboro, and begins the process for the receipt of the Fisheries Act Authorization, which we would expect in the
coming months. The receipt of both the Schedule 2 and Fisheries Act Authorization would then provide Goldboro with all of
the Federal permits required to begin construction.”
The MDMER requires NexGold to develop and implement a fish habitat compensation plan (FHCP) to offset the loss of fish
habitat resulting from the development of the TMF. This plan has been completed previously and is currently under review by
Fisheries and Oceans Canada with approval of this plan expected in the second half of 2025.
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
President & CEO
(647) 388-1842
Orin Baranowsky
Chief Financial Officer
(647) 697-2625
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; and timing and
receipt of government permits. 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 resource, 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.