Not for Distribution to U.S. Newswire Services or Dissemination in the United States

TORONTO, Oct. 09, 2026 (GLOBE NEWSWIRE) — NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) reminds holders of its common share purchase warrants issued pursuant to the Company’s flow-through private placement completed on November 6, 2024 (the “Warrants”) that the Warrants will expire at 5:00 p.m. (Toronto time) on Friday, November 6, 2026 (the “Expiry Date”).

Each Warrant entitles the holder to acquire one common share of the Company at an exercise price of $1.05 until the Expiry Date. The original financing terms disclosed by the Company provided for a 24-month exercise period from November 6, 2024.

As of October 8, 2026, 1,211,250 Warrants remain outstanding. Any Warrants not exercised in accordance with their terms by 5:00 p.m. (Toronto time) on the Expiry Date will expire and cease to be exercisable.

Holders wishing to exercise their Warrants should ensure that all required exercise documentation and funds are delivered in accordance with the terms of the Warrants sufficiently in advance of the Expiry Date. Beneficial holders whose Warrants are held through a broker, investment dealer or other intermediary should promptly contact their intermediary regarding the applicable exercise procedures and any deadlines imposed by the intermediary, which may be earlier than the Expiry Date.

The Warrants and the common shares issuable upon exercise thereof have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable U.S. state securities laws, and may not be offered or sold in the United States absent registration under the U.S. Securities Act and applicable U.S. state securities laws or an available exemption therefrom. This news release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities.

The Warrants are governed by the terms of the applicable warrant certificates and related transaction documents. In the event of any inconsistency between this news release and such documents, the terms of the applicable warrant certificates and related transaction documents will govern.

For More Information

Questions regarding the exercise of Warrants should be directed to the holder’s broker or other intermediary, as applicable. General questions may be directed to the Company at ir@nexgold.com.

Sprott Royalty – Shares For Debt Issuance

Pursuant to the terms of a royalty agreement with Sprott Resources Streaming and Royalty Corp. (“Sprott Streaming”) announced on February 14, 2022 and amended on May 1, 2024 (the “Royalty Agreement”), the Company has elected to satisfy an upcoming minimum payment of US$675,000 due under the Royalty Agreement through the issuance of 716,619 common shares of the Company (the “Common Shares”) to Sprott Streaming (“Common Shares”) at a deemed price of $1.3427 per Common Share.

Under the Royalty Agreement, NexGold is required to make minimum payments of US$675,000 on a quarterly basis, payable, at the Company’s election, in cash or Common Shares. The Common Shares are proposed to be issued as shares for debt in accordance with Policy 4.3 of the TSX Venture Exchange (“TSXV”) Corporate Finance Policies. The issuance of the Common Shares has been approved by the Board of Directors of NexGold and remains subject to the acceptance of the TSXV. Subject to receipt of such acceptance, NexGold expects to issue the Common Shares to Sprott Streaming on or about October 13, 2026.

About NexGold Mining Corp.

NexGold is a gold-focused company with assets in Canada and Alaska, including the Goldboro Gold Project in Nova Scotia, the Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) in Northwestern Ontario, and additional exploration projects across Canada. NexGold also holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project in southeast Alaska. NexGold is committed to ongoing, meaningful engagement with regional communities and Indigenous Nations to support sustainable development, safe operations, and shared economic and social benefits.

Further details about NexGold, including a Feasibility Study for the Goldboro Gold Project and a Prefeasibility Study for the Goliath Gold Complex, are available under the Company’s issuer profile on www.sedarplus.ca and on NexGold’s website at www.nexgold.com

Contact:

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including statements regarding the proposed issuance of the Common Shares to Sprott Streaming, the timing of such issuance and the receipt of TSXV acceptance. Forward-looking information is based on management’s reasonable assumptions as of the date such statements are made, including the assumption that the Company will receive the required TSXV acceptance and that the proposed issuance will be completed on the terms and within the timeframe currently anticipated. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information, including the risk that TSXV acceptance may not be obtained, may be delayed or may be subject to conditions, and that the proposed issuance may not be completed on the terms or within the timeframe anticipated. Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information. The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws.

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.