Nexus GOLD Enters LOI to Acquire Multi-Project WEST African GOLD Portfolio
NEXUS GOLD CORP.
Suite 720, 700 West Pender Street
Vancouver, BC V6C 1G8
Telephone: 604.558.1920
NEWS RELEASE
NEXUS GOLD ENTERS LOI TO ACQUIRE MULTI-PROJECT WEST
AFRICAN GOLD PORTFOLIO
Assets covering 4,000-sq km of gold exploration projects in Gabon, West Africa
Historical drill results include 7.6 g/t Au over 9 meters, including 15.7 g/t Au
over 3.85 meters**
Vancouver, Canada – July 22, 2019 - Nexus Gold Corp. (“ Nexus” or the “ Company”) (TSX-V: NXS,
OTCQB: NXXGF, FSE: N6E) is pleased to announce that it has entered into a letter of intent with Aurem
Resources SARL (“Aurem”), an arms’-length party, pursuant to which it will look to acquire the rights
to any or all of three exploration permits (collectively, the “ Permits”), totaling up to 4,102 square
kilometers (over 1,500-sq miles), located in Gabon, West Africa. If completed, the Permits would form
part of the Company’s existing portfolio of exploration stage gold projects in West Africa.
The project portfolio consists of three different concessions, each encompassing between 1,200 and
1,500-sq kms, in Gabon, which is located on the west coast of Africa and is serviced by excellent
infrastructure including a deep-water port at the capital city of Libreville. The projects are ideally
located within 300 km of Libreville. The permits pursuant to this LOI are currently under application
and the Company anticipates they will be issued shortly. Gabon has a proven investor friendly
environment with a large oil and gas industry being present over several decades and is considered
underexplored for precious metal deposits compared to other countries in the region.
Throughout the concession areas gold mineralization appears to have strong structural controls,
concentrating along lithological contacts and structural breaks. Two styles of gold mineralization have
been observed: A pyrite-rich massive sulphide sitting at the contact of a deformed mafic volcano-
sedimentary sequence and a thick black shale unit. The massive sulphide is reported to host a drill
intercept of 9 meters at 7.6 grams-per-tonne (“g/t”) gold (“Au”)** and is gold-arsenopyrite bearing
quartz veins hosted on lithological contacts and within shear zones which assayed between 2 g/t to 7
g/t Au**.
Historical results on the main mineralized trend just north east and on the boundary of one of the
prospects, and strikes into the property with gold anomalism being present, include intercepts of 9 m
at 7.6 g/t Au; including 3.85 m at 15.7 g/t Au, 13.5 m at 1.5 g/t Au; including 1 m at 7.5 g/t Au, 3 m at
3.3 g/t Au; including 1 m at 4.5 g/t Au, 15 m at 37.7 g/t Ag; including 4.5 m at 61.4 g/t Ag.
“The ground under consideration by Nexus in Gabon is a very large area that is highly prospective for
gold,” said Ian Stalker, non-executive Chairman. “Previous work by earlier operators has indicated the
potential for high-grade resources, and indeed the work done previously is an excellent starting
point for us, saving the Company millions of dollars of upfront expenditures. Gabon itself is a very
stable environment in which to work and has had little recent geological work undertaken. We feel it
offers the Company a strong opportunity to be at the forefront of the development of a potentially
new and exciting gold province,” continued Mr. Stalker.
“The historical work and regional data we have examined so far is compelling,” said Alex Klenman,
president & CEO. “We are eager to dive more vigorously into the due diligence process here and
acquire as much data on the concessions as possible. This is very much a district-scale opportunity for
Nexus. Land packages of this size with exploration upside don’t come along every day. With the gold
price showing significant strength recently and the potential to reach even greater levels in the near
future, an acquisition of this type and scale has the ability to add substantial value,” continued Mr.
Klenman.
Approximately 1,000 meters of core drilling was completed in the central gold-in-soil anomaly of one
of the permits* and high-grade gold mineralisation in a 120m wide deformational zone was
encountered. Results included 2 m at 5.3 g/t Au (including 1 m at 9.5 g/t Au) in the first drill line and
2.2 m at 4.5 g/t Au (including 1 m at 9.1 g/t Au) in the second drill line. High-grade intersects occur in
a sheared amphibolite and amphibole-rich dioritic gneiss with related brittle-ductile deformation**.
The Company intends to conduct a due diligence review of the Permits, following which the board of
directors will make a decision as to whether to proceed with the acquisition and will finalize definitive
terms with Aurem. Completion of the acquisition of the Permits remains subject to a number of
conditions, including satisfactory completion of due diligence, negotiation of definitive documentation
and receipt of any required regulatory approvals. The acquisition cannot be completed until these
conditions are satisfied, and there can be no assurance that the acquisition will be completed in a timely
fashion, or at all. The Company will provide further information regarding the acquisition as due
diligence progresses.
Historical data referenced in this news release is public domain information. Readers are cautioned that the
Company's Qualified Person has not yet verified the laboratory reports involved with the analysis of the results
referenced herein.
* Permit applications in process
** Exact location of historical results to be confirmed from public domain information
About the Company
Nexus Gold is a Vancouver-based gold exploration and development company with a portfolio of active
projects in West Africa and Canada. The Company is concentrating its efforts on establishing a
compliant resource at one or more of it's four current West African-based projects which total over
560-sq kms (56,000+ hectares) of land located on active gold belts and proven mineralized trends, while
also conducting developmental phases on its five 100%-owned Canadian projects, namely the
McKenzie Gold Project in Red Lake, Ontario, the New Pilot Project, located in BC's historic Bridge River
Mining Camp, and three prospective gold-copper projects (3,300-ha) in the province of Newfoundland.
For more information please visit www.nexusgoldcorp.com.
Warren Robb P.Geo., Vice-President, Exploration, is the designated Qualified Person as defined by
National Instrument 43-101 and is responsible for the technical information contained in this release.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Alex Klenman
President & CEO
604-558-1920
www.nexusgoldcorp.com
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 release. This news release may
contain forward-looking statements. These statements are based on current expectations and assumptions that
are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the
management discussion and analysis section of our interim and most recent annual financial statement or other
reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not
assume any obligation to update any forward-looking statements, except as required by applicable laws.