NexGold Announces Commencement of Early Works Construction Activities at the Goldboro Gold Project, Nova Scotia

TORONTO, Sept. 17, 2026 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to announce that it has commenced site preparation and early works construction activities at the Goldboro Gold Project (“Goldboro” or the “Project”) in Nova Scotia.

These activities are intended to de-risk the potential commencement of full-scale construction, which, if approved by the Company’s Board of Directors, is currently targeted to commence in Q1 2027. The Board’s final construction decision is currently anticipated to be considered during Q4 2026.

Site preparation and early works construction activities are primarily focused on establishing environmental controls and ensuring traditional community recreational access to areas during the planned period of construction following the final construction decision.

Activities include:

• Construction of elements of a public-access bypass road such as installation of culverts at water crossings;
• Installation of critical sediment and erosion control infrastructure;
• Tree clearing for the Employee Accommodations Facility pad, till and organics stockpiles, sedimentation ponds and the construction management facilities area; and
• Mobilization of site services contractors to support site construction activities.

NexGold has engaged the Mi’kma’ki-Municipal Limited Partnership in the execution of the site preparation and early works construction activities. The Mi’kma’ki-Municipal Limited Partnership is a majority Indigenous-owned partnership between Municipal Enterprises Limited (a subsidiary within the Municipal Group of Companies, and an affiliate of Dexter Construction Company Limited) and the 13 Mi’kmaw First Nations communities of Nova Scotia, represented by Wskijnu'k Mtmo'taqnuow Agency Limited.

Kevin Bullock, President, CEO & Director of NexGold, commented: “Commencing early works construction activities at Goldboro is a significant milestone for the Project and reflects the culmination of years of planning and development. We are also proud of our work with the Mi’kma’ki-Municipal Limited Partnership, which demonstrates our ongoing commitment to sustainable development, collaboration with the Mi’kmaq people of Nova Scotia, and investment in local communities.

“While key mine planning, engineering, procurement, community engagement, and recruitment activities remain ongoing, we are now prudently deploying capital toward activities designed to further de-risk Goldboro ahead of a potential construction decision.

“In parallel with these early works, we are finalizing the updated Feasibility Study to support a potential construction decision, both of which we are currently anticipating in the fourth quarter of 2026. We are also continuing to advance critical detailed engineering activities to support early construction contracts, procurement of long-lead equipment and various project execution planning initiatives.”

Construction and commissioning of Goldboro are expected to take approximately 26 months, leading to an operation with an 11-year open pit life of mine and average gold production of approximately 100,000 ounces per year. The Project is also expected to generate significant economic benefits for the region, including the creation of more than 300 on-site construction jobs, over 200 full-time on-site operational positions and more than 500 spin-off jobs annually during operations. The foregoing mine life, production and employment estimates are derived from the Company's NI 43-101 Technical Report and Feasibility Study for the Project dated January 11, 2022 and are based on Mineral Reserves disclosed therein. Such estimates may be revised as a result of the updated Feasibility Study currently being finalized by the Company.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed, verified and approved by Brian Jackson, P.Eng., Vice-President, Projects. Mr. Jackson is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 prepared by Nordmin Engineering Ltd., entitled “NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia” with an effective date of December 16, 2021 and a report date of January 11, 2022, and a Prefeasibility Study for the Goliath Gold Complex entitled “Goliath Gold Complex – NI 43–101 Technical Report and Prefeasibility Study” and dated March 27, 2023 with an effective date of February 22, 2023, led by independent consultants Ausenco Engineering Canada Inc.—are available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on NexGold’s website at www.nexgold.com.

Contact:

Kevin Bullock President & CEO +1 (416) 214-4654 kbullock@nexgold.com

Greg DiTomaso Investor Relations +1 (647) 547-5357 gditomaso@nexgold.com

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of applicable U.S. securities laws (collectively, “forward-looking information”). Forward-looking information relates to future events or future performance and reflects management's expectations or beliefs regarding future events and includes, but is not limited to, statements regarding: the timing, scope and completion of early works and site preparation activities at the Goldboro Gold Project ("Goldboro"); the expected benefits of such activities, including the de-risking of future construction activities; the timing and outcome of the Company's updated feasibility study for Goldboro; the timing of a final construction decision by the Company's Board of Directors; the anticipated commencement of full-scale construction activities; the advancement of detailed engineering, procurement activities and the acquisition of long-lead equipment; anticipated construction and commissioning schedules; projected mine life, gold production, employment and economic benefits associated with Goldboro; the Company's development plans and objectives; and the Company's objective of advancing Goldboro toward production.

Forward-looking information is often, but not always, identified by the use of words and phrases such as "anticipates", "expects", "plans", "targets", "budget", "scheduled", "estimates", "intends", "projects", "believes", "potential", "future", "opportunity", "objective", "on track", "continue", "may", "will", "would", "could", "should", or similar expressions and includes statements that certain actions, events or results may, could, would, should or will occur or be achieved.

Forward-looking information is based on a number of assumptions, including, among other things: the timely completion of the updated feasibility study; the accuracy of current engineering, mine planning, cost and economic assumptions; the availability of financing on acceptable terms; the availability of labour, equipment and materials; the timely receipt of required regulatory approvals and permits; the ability to maintain positive relationships with Indigenous communities, local stakeholders, contractors and governmental authorities; the continued advancement of project development activities according to current expectations; and general business, economic and market conditions.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, without limitation: the risk that the Board of Directors does not approve a final construction decision; risks associated with the completion and results of the updated feasibility study; risks relating to project development and construction; cost overruns and schedule delays; risks relating to procurement and the availability of equipment, materials and contractors; the inability to secure financing on acceptable terms or at all; risks relating to permitting and regulatory approvals; risks relating to consultation and engagement with Indigenous communities and the timing or outcome of related agreements and approvals; labour shortages; inflationary pressures; health, safety and environmental risks; fluctuations in gold prices, commodity prices, currency exchange rates and capital markets; adverse economic conditions; and other risks disclosed in the Company's public disclosure documents available under its profile on SEDAR+ at www.sedarplus.ca.

The early works activities described in this news release do not constitute a final construction decision with respect to Goldboro, and there can be no assurance that the Company's Board of Directors will ultimately approve full-scale project construction.

In addition, references in this news release to anticipated mine life, gold production, construction schedule and economic benefits are based on the feasibility study entitled "NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia" with an effective date of December 16, 2021 and a report date of January 11, 2022. Such estimates may change as a result of the updated feasibility study currently being completed by the Company.

Although the Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable, there can be no assurance that such information will prove to be accurate, and readers should not place undue reliance on forward-looking information. Actual results and future events may differ materially from those anticipated in such forward-looking information. Forward-looking information is made as of the date of this news release and, except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

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.