From the Team at NexGold Mining Corp.
Dear shareholders, partners and community members,
May was a productive month for NexGold, with continued progress across technical, exploration and development programs. Key highlights included additional high-grade drill results from the Goldlund Deposit at the Goliath Gold Complex, continued infill drilling and the launch of airborne geophysical surveys at Goldboro, Q1 2026 financial results, ongoing community, and participation in capital markets events.
Project Progress
At the Goldboro Gold Project in Nova Scotia, the team continued to execute on key development activities in advance of a construction decision, with ongoing work focused on an updated Mineral Resource Estimate in support of an updated Feasibility Study, as well as mine planning, procurement, engineering, early earthworks, key personnel recruitment, continued community engagement, and exploration activities. NexGold is committed to doing everything necessary to ensure it properly sets Goldboro up for continued, long-term success.
NexGold advanced its 30,000-metre Reverse Circulation infill drill program at Goldboro, completing over 14,000 metres across 300+ drillholes by mid-May. Drilling moved from the West Pit to the East Pit, alongside completion of key work, including geotechnical drilling and an airborne gravity survey, while airborne electromagnetic surveying and other geophysical work are ongoing. The Company also launched VTEM™ Plus and FALCON® airborne geophysical surveys across the broader Goldboro property, supporting future exploration targeting and geological interpretation.
At the Goliath Gold Complex in Ontario, drilling continued at the Goldlund Deposit, with NexGold reporting additional broad, high-grade gold intercepts supporting mineral resource continuity and expansion potential within Zone 4. Highlights included 15.21 g/t gold over 20.1 metres, 5.11 g/t gold over 21.8 metres, and 4.51 g/t gold over 21.9 metres. These results continue to support confidence in the geological model and ongoing Mineral Resource and development studies. The Company also progressed mine optimization work and planning for updated mineral resources and technical studies.
Community and Stakeholder Engagement
NexGold maintained a strong focus on community and stakeholder engagement in May, participating in local events and community initiatives, including Red Dress Day to raise awareness of Missing and Murdered Indigenous Women, Girls and Two-Spirit People. These efforts reflect the Company’s commitment to respectful relationships and meaningful participation in the communities where it operates. The Company also hosted several open houses and information sessions in the Goldboro project area in late May.
Looking ahead, NexGold will continue to host community open houses in Goldboro, Guysborough, and Antigonish, along with a contractor information session in June, offering opportunities for residents, local businesses, and contractors to meet with the NexGold team, learn about project activities and upcoming employment, procurement, and contracting opportunities tied to the Goldboro Gold Project.
Capital Market Engagement
NexGold continued active engagement with the investment community in May, participating in events which included the National Bank of Canada Capital Markets 1×1 Mining Developer Summit in New York, Top Shelf Partners Washington DC, and the Top Shelf Partners Commodities Global Expo in Florida. These events provided opportunities to discuss NexGold’s development strategy, project progress, and long-term growth plans with retail and institutional investors and industry participants.
Corporate Updates
During the month, NexGold reported its Q1 2026 financial and operating results, highlighting the Company’s continued progress across its development and exploration portfolio, and a solid financial position. The first quarter saw steady advancement at both Goldboro and the Goliath Gold Complex, alongside investment in technical studies, permitting, and project readiness.
NexGold remains focused on advancing its key projects through disciplined execution, technical work, development planning, and stakeholder engagement, while maintaining its commitment to safety, environmental stewardship, and responsible development.
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