1. NAME AND ADDRESS OF COMPANY Nexus Gold Corp.
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FORM 51-102F3
MATERIAL CHANGE REPORT
1. NAME AND ADDRESS OF COMPANY
Nexus Gold Corp.
Suite 802, 750 West Pender Street
Vancouver, BC
V6C 2T8
2. DATE OF MATERIAL CHANGE
March 30, 2023
3. PRESS RELEASE
The press release was issued o n March 30, 2023 and was disseminated through the facilities of a
recognized newswire services. A copy of the press release was filed on SEDAR.
4. SUMMARY OF MATERIAL CHANGE
Nexus Gold signs LOI to acquire the Fofora Gold Project, Hounde Greenstone Belt, Burkina Faso.
5. FULL DISCLOSURE OF MATERIAL CHANGE
Full Description of Material Change
Vancouver, Canada – March 30, 2023 Nexus Gold Corp. (“ Nexus” or the “ Company”) (TSX-V:
NXS, OTCQB: NXXGF, FSE: N6E) is pleased to announce it has signed a non-biding letter of intent
to acquire a 90% interest in the 6,200-ha (62km²) Fofora Gold Project exploration permit located
450km to the southwest of Ouagadougou, Burkina Faso, West Africa.
The Fofora permit is located on the eastern side of the Hounde gre enstone belt in the Kampti
department; in the province of Poni, near the border with Cote D’Ivoire. The Hounde Greenstone Belt
is host to several large -scale operating gold mines, including Endeavour’s Mana and Hounde Mines,
Futurna Silver’s Yaramoko Mine as well as multiple other producing mines and large -scale
discoveries.
“We’re pleased to potentially add this highly prospective project to our existing West African
portfolio,” said CEO, Milad Zareian. “The gold endowment in West Africa, and specifically in
Burkina Faso, is well established. The potential for further impactful discoveries, for the delineation
of additional sizeable resources, is as good as any place on the planet. We are eager to move Nexus
forward and begin to develop our projects. We have work to be done, but we’re committed to
increasing our market cap and unlocking the value of our projects,” continued Mr. Zareian.
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Fig 1: Nexus Gold projects, significant deposits/mines, Burkina Faso, West Africa
Historical work on the Fofora property has consisted of soil geochemistry and silt sampling
completed in 2008 by Volta Resources. This early work outlined a two -kilometer northeast -
southwest trending soil anomaly straddling the contract between andesitic rocks and basaltic rocks
within the Hounde greenstone belt.
Historical silt sampling with the permit area was also completed in 2008 with 38 silts samples being
collected from drainage and seeps on the property. Values ranged from 1 ppb gold to 327 ppb gold.
An Initial reconnaissance program was attempted in January but due to flooding in the area the
program was cut short. Despite this delay the Company geologists were able to access one artisanal
operation and collected three samples which returned gold values of 9.8 grams per tonn e (“g/t”) gold
(“Au”), .108 g/t Au, and 0.056 g/t Au respectively.
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Fig 2: Fofora Gold Project, adjacent to Fortuna’s Boussoura project, Burkina Faso, West Africa
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The property is immediately adjacent and contiguous to Fortuna Silver’s Boussoura Project .
Historical drill results reported by Roxgold (now Fortuna Silver) returned the following results:
• 35 metres (“m”) at 4.1 grams per tonne (“g/t Au”) in drill hole BSR-21-RC-FFR-218 from
86m including:
o 9m at 12.1 g/t Au from 96m
• 6m at 11.3 g/t Au in drill hole BSR-21-RC-FFR-167 from 90m including:
o 1m at 65.6 g/t Au from 94m
• 2m at 11.7 g/t Au in drill hole BSR-21-RC-FFR-187 from 37m including:
o 1m at 20.9 g/t Au from 38m
• 3m at 33.6 g/t Au in drill hole BSR-21-RC-FFR-201 from 6m
As part of its due diligence the company will be conducting fu rther ground follow up on the Fofora
permit to identify suitable target areas for drill testing.
Warren Robb P.Geo., Vice President, Exploration, is the designated Qualified Person and has
reviewed and approved the technical information contained in this release. It is the QP’s opinion
that the data as presented is adequate and can be relied upon for use in this press release.
* Management cautions that past results or discoveries on adjacent properties may not necessarily be
indicative to the presence of mineralization on the Company’s properties.
About the Company
Nexus Gold is a Canadian -based gold exploration and development company with an exten sive
portfolio of projects in West Africa. The Company will continue development of assets in West
Africa in addition to potentially broadening its scope to include other jurisdictions.
For more information, please visit nxs.gold
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Milad Zareian
CEO
www.nexusgoldcorp.com
6. RELIANCE ON SUBSECTION 7.1(2) OF NATIONAL INSTRUMENT 51-102
Not applicable.
7. OMITTED INFORMATION
No information has been intentionally omitted from this form.
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8. EXECUTIVE OFFICER
The name and business number of an officer of the Company through whom an executive officer who
is knowledgeable about the material change and this report may be contacted is:
Milad Zareian Chief Executive Officer
Tel: 604-558-1920
9. DATE OF REPORT
DATED this 30h day of March, 2023.