From the Team at NexGold Mining Corp.
Dear shareholders, partners, and community members,
August was a month of strong momentum for NexGold, highlighted by continued exploration success at both of our cornerstone projects and meaningful community engagement in Ontario and Nova Scotia. We reported new drill results from Goldboro and Goldlund, expanded the Goldlund drill program following encouraging results, and advanced technical, environmental and project development activities across the portfolio.
Beyond our projects, we were proud to connect with the communities that helped shape our success. From joining the Sioux Lookout Blueberry Festival in Northwestern Ontario to supporting the 2026 Nova Scotia Mi’kmaq Summer Games, our team had the opportunity to celebrate local culture, strengthen relationships, and engage with the communities and Nations across the regions where we operate.
Project Progress
Exploration remained a key focus throughout August, with encouraging results from both Goldboro and Goldlund supporting our ongoing efforts to advance and grow these assets.
At the Goldboro Gold Project in Nova Scotia, we reported additional results from the expanded 40,000-metre reverse circulation (“RC”) infill drill program, including intercepts of 5.26 g/t gold over 7.0 metres and 7.08 g/t gold over 5.0 metres. As of August 19, more than 76% of the program had been completed. The drilling is focused on shallow portions of the Goldboro Mineral Resource within the planned East and West pits and is helping refine areas associated with the early years of the mine plan.
At the Goliath Gold Complex in Ontario, we completed the initial 25,000-metre diamond drill program at Goldlund and expanded the program to approximately 35,000 metres following encouraging results and the identification of additional exploration targets within and adjacent to the current open-pit Mineral Resource. Highlights reported on August 25 included intercepts of 3.08 g/t gold over 17.0 metres, 4.80 g/t gold over 5.6 metres and 84.30 g/t gold over 1.0 metres.
We also continued advancing work to support future exploration and mineral resource evaluation. At Goldlund, core processing and preparations for an infill sampling program progressed, while work continued toward the next Mineral Resource Estimate update. At Goldboro, planning for additional infill and condemnation drilling advanced along with the RC program.
Advancing Our Projects
Alongside exploration success, our technical teams continued advancing key engineering, environmental and project development initiatives at both Goldboro and the Goliath Gold Complex throughout August.
At Goldboro, work remained focused on the updated Feasibility Study and on evaluating mine plan refinements identified through ongoing technical work. Project teams progressed plans for early earthworks requirements, site infrastructure, procurement priorities and other activities supporting future project development. We also continued strengthening our project execution team with additions in health, safety and environmental roles.
At the Goliath Gold Complex, technical work advanced across mine planning, geotechnical studies, tailings and infrastructure alternatives, and financial modelling. The team completed evaluations of mine and mill-feed planning options and further developed conceptual tailings storage facility designs, while continuing to assess opportunities to optimize the project’s development approach.
Environmental Programs Continue Across Both Projects
Environmental field programs remained active throughout August, supporting ongoing project planning and regulatory processes at both Goldboro and the Goliath Gold Complex.
At the Goliath Gold Complex, the team continued summer baseline programs following the completion of wetland surveys in the Goldlund area in July. Activities included groundwater, light and environmental monitoring, as well as preparations for seasonal noise studies. Geochemistry work also advanced, helping further characterize the acid rock drainage potential of waste rock materials.
At Goldboro, environmental teams continued follow-up work related to the Biodiversity Offsetting Plan and Wildlife Management Plan following the completion of in-stream construction activities at Pomquet River and Sutherlands Brook. Private well monitoring and preparations for the Ambient Air Quality Monitoring Program also progressed, alongside ongoing engagement with regulators.
Connecting with Communities Across Canada
Community engagement remained a priority throughout August as our team connected with communities in Ontario and Nova Scotia.
In Northwestern Ontario, members of the NexGold team participated in the Sioux Lookout Blueberry Festival, a 10-day celebration featuring approximately 130 events that showcase the region’s diverse culture and community spirit. We were pleased to connect with residents in a region closely associated with the Goliath Gold Complex.
In Nova Scotia, NexGold was proud to sponsor the 2026 Nova Scotia Mi’kmaq Summer Games, hosted by Sipekne’katik First Nation. The Games brought together thousands of athletes representing the Mi’kmaw Nations in a celebration of sport, culture, community and unity. Team members attended events throughout the Games and had the opportunity to meet athletes, families, organizers and volunteers. We were honoured to support an event that brought communities together from across Mi’kma’ki and congratulate all participants on their achievements.
Corporate Update
On August 13, NexGold reported its financial and operating results for the three and six months ended June 30, 2026. The quarter reflected continued advancement of Goldboro and the Goliath Gold Complex, including ongoing drilling, completion of regional geophysical surveys at Goldboro and continued work toward the updated Goldboro Feasibility Study. Across the organization, we also continued enhancing financial systems and internal processes to support NexGold’s growth and expanding project development activities.
Looking ahead to September, our teams remain focused on advancing exploration, technical studies, environmental initiatives and project planning at Goldboro and the Goliath Gold Complex.
As always, we welcome your questions and feedback. Please contact us at ir@nexgold.com.
Warm regards,
The NexGold Team
TSX-V: NEXG | OTCQX: NXGCF