NexGold Intersects 4.16 g/t Gold over 7.0 Metres, 2.84 g/t Gold over 7.0 Metres and 1.94 g/t Gold over 9.0 Metres in RC Infill Drill Program at the Goldboro Gold Project, Nova Scotia

“The RC Infill Drilling Program was designed to increase confidence in the location, continuity, grade, and thickness of mineralization within the planned open-pit mining areas. Drilling within the West Pit focused primarily on areas scheduled for mining during the initial years of operation. The results from this program, together with those from the East Pit, are expected to support the evaluation of a final investment decision and may be incorporated into future Mineral Resource Estimates beyond those included in the updated Feasibility Study, which is anticipated to be completed later this year.

“As we continue to advance the Project across several key development workstreams, our focus remains on completing the Feasibility Study in 2026 and safely executing early works construction activities on site. Current activities on site include construction of the public access bypass road, installation of sediment and erosion control structures, clearing and preparation of the Employee Accommodations Facility site, development of till and organics stockpiles, construction of sedimentation ponds, and establishment of construction management facilities. These activities represent important milestones as we continue to advance the Goldboro Project toward a construction decision.”

Selected highlights from the most recent results from the RC Infill Drill Program within the West Pit include:

• 4.16 g/t Au over 7.0 m (from 13.0 m to 20.0 m) including 20.15 g/t Au over 1.0 m (from 14.0 m to 15.0 m) in drill hole RC-26-271;
• 6.76 g/t Au over 2.0 m (from 14.0 m to 16.0 m) including 12.75 g/t Au over 1.0 m (from 14.0 m to 15.0 m) and 3.11 g/t Au over 4.0 m (from 20.0 m to 24.0 m) in drill hole RC-26-249;
• 6.46 g/t Au over 3.0 m (from 11.0 m to 14.0 m) including 18.88 g/t Au over 1.0 m (from 13.0 m to 14.0 m) and 2.83 g/t Au over 2.0 m (from 31.0 m to 33.0 m) in drill hole RC-26-273;
• 2.84 g/t Au over 7.0 m (from 11.0 m to 18.0 m) and 1.55 g/t Au over 2.0 m (from 26.0 m to 28.0 m) in drill hole RC-26-251;
• 5.11 g/t Au over 3.0 m (from 36.0 m to 39.0 m) and 1.48 g/t Au over 5.0 m (from 11.0 m to 16.0 m) in drill hole RC-26-246;
• 3.11 g/t Au over 6.0 m (from 11.0 m to 17.0 m) including 13.91 g/t Au over 1.0 m (from 15.0 m to 16.0 m) in drill hole RC-26-293;
• 1.94 g/t Au over 9.0 m (from 13.0 m to 22.0 m) in drill hole RC-26-290;
• 1.84 g/t Au over 8.0 m (from 10.0 m to 18.0 m) in drill hole RC-26-279;
• 2.92 g/t Au over 5.0 m (from 14.0 m to 19.0 m) including 11.29 g/t Au over 1.0 m (from 16.0 m to 17.0 m) from drill hole RC-26-274; and
• 4.84 g/t Au over 3.0 m (from 10.0 m to 13.0 m) in drill hole RC-26-252.

In addition, selected assay highlights from the West Pit, as previously reported in the Company’s news releases dated June 25, 2026, July 9, 2026 and August 19, 2026, include:

• 61.22 g/t Au over 12.0 m (from 18.0 m to 30.0 m) including 685.0 g/t over 1.0 m (23.0 to 24.0 m) and including 36.69 g/t over 1.0 m (24.0 to 25.0 m)  in drill hole RC-26-073;
• 12.06 g/t Au over 6.0 m (from 44.0 m to 50.0 m) including 67.41 g/t Au over 1.0 m (47.0 m to 48.0 m) in drill hole RC-26-147;
• 9.31 g/t Au over 7.0 m (from 25.0 m to 32.0 m) including 63.55 g/t Au over 1.0 m (25.0 m to 26.0 m) in drill hole RC-26-144;
• 5.83 g/t Au over 13.0 m (from 9.0 m to 22.0 m) including 61.20 g/t Au over 1.0 m (13.0 m to 14.0 m) and 1.55 g/t Au over 4.0 m (from 27.0 m to 31.0 m) in drill hole RC-26-037;
• 3.72 g/t Au over 13.0 m (from 37.0 m to 50.0 m) including 20.08 g/t Au over 1.0 m (37.0 m to 38.0 m) and 11.83 g/t Au over 1.0 m (from 47.0 m to 48.0 m) in drill hole RC-26-060;
• 3.84 g/t over 18.0 m (from 30.0 m to 48.0 m)  including 28.04 g/t Au over 1.0 m (36.0 m to 37.0 m) and including 15.46 g/t over 1.0 m (43.0 m to 44.0 m) and 1.59 g/t Au over 8.0 m (from 19.0 m to 27.0 m) ;
• 4.13 g/t Au over 10.0 m (from 11.0 m to 21.0 m) including 29.03 g/t Au over 1.0 m (15.0 m to 16.0 m) and 3.04 g/t Au over 9.0 m (from 39.0 m to 48.0 m) including 14.49 g/t Au over 1.0 m (from 44.0 m to 45.0 m) and 1.25 g/t Au over 8.0 m (from 25.0 m to 33.0 m) in drill hole RC-26-129;
• 4.02 g/t Au over 11.0 m (from 27.0 m to 38.0 m), including 33.40 g/t Au over 1.0 m (from 28.0 m to 29.0 m) and 0.98 g/t Au over 5.0 m (from 11.0 m to 16.0 m) in drill hole RC-26-009;
• 2.04 g/t Au over 19.0 m (from 31.0 m to 50.0 m) including 12.19 g/t Au over 1.0 m (from 46.0 m to 47.0 m) in drill hole RC-26-116;
• 5.26 g/t Au over 7.0 m (from 41.0 m to 48.0 m) including 31.29 g/t Au over 1.0 m (from 44.0 m to 45.0 m) in drill hole RC-26-226;
• 3.24 g/t Au over 11.0 m (from 36.0 m to 47.0 m) including 11.64 g/t Au over 1.0 m (from 43.0 m to 44.0 m) and 1.97 g/t Au over 8.0 m (from 24.0 m to 32.0 m) in drill hole RC-26-126;
• 7.08 g/t Au over 5.0 m (from 9.0 m to 14.0 m) including 25.11 g/t Au over 1.0 m (from 9.0 m to 10.0 m) in drill hole RC-26-195;
• 4.70 g/t Au over 7.0 m (from 31.0 m to 38.0 m) including 11.89 g/t Au over 1.0 m (from 35.0 m to 36.0 m) in drill hole RC-26-138;
• 10.78 g/t Au over 3.0 m (from 33.0 m to 36.0 m) including 13.86 g/t Au over 2.0 m (from 34.0 m to 36.0 m) in drill hole RC-26-122;
• 6.34 g/t Au over 5.0 m (from 33.0 m to 38.0 m) including 13.32 g/t Au over 2.0 m (from 34.0 m  to 36.0 m) in drill hole RC-26-120;
• 2.82 g/t Au over 11.0 m (from 26.0 m to 37.0 m) including 17.73 g/t Au over 1.0 m (from 27.0 m to 28.0 m) and 4.95 g/t Au over 6.0 m (from 44.0 m to 50.0 m) including 23.78 g/t Au over 1.0 m (from 48.0 m to 50.0 m) in drill hole RC-26-130;
• 10.23 g/t Au over 3.0 m (from 35.0 m to 38.0 m) including 27.43 g/t Au over 1.0 m (from 35.0 m to 36.0 m) in drill hole RC-26-106;
• 14.97 g/t Au over 2.0 m (from 38.0 m to 40.0 m) including 29.62 g/t Au over 1.0 m (from 39.0 m to 40.0 m) and 0.90 g/t Au over 11.0 m (from 25.0 m to 36.0 m) in drill hole RC-26-163;
• 1.65 g/t Au over 20.0 m (from 28.0 m to 48.0 m) in drill hole RC-26-146; and
• 5.73 g/t Au over 5.0 m (from 39.0 m to 44.0 m) including 13.78 g/t Au over 1.0 m (from 42.0 m to 43.0 m) in drill hole RC-26-028.

The high-density RC Infill Drill Program targets areas of the Goldboro Project associated with the initial years of the current mine plan and that are presently accessible for drilling. The objective of the program, and the rationale for using Reverse Circulation (“RC”) drilling, is to obtain a high-density data set that may support future evaluation of the Mineral Resource for potential classification upgrades from the Indicated to Measured category, using a drilling technique that more closely approximates production drilling and associated dilution. The Company expects this information to be used in conjunction with more than 180,000 metres of existing diamond drill data to support planning and evaluation of the initial years of mining contemplated in the current mine plan.

Drill results reported in this news release comprise 2,885 metres of drilling completed in 76 RC drill holes (RC-26-001, RC-26-230 to RC-26-253, RC-26-259 to RC-26-260, RC-26-262 to RC-26-309, and RC-26-581) within the West Pit area (Table 1). In addition, assay highlights from selected drill holes across the West Pit are presented to summarize key results from the RC Infill Drill Program.

Based on the Company's QA/QC protocols, comparison with historical drilling results, and ongoing geological interpretation, the results are considered consistent with the Company's current understanding of the Goldboro Deposit. The drilling intersected mineralization in accordance with the existing geological model and provided enhanced definition of mineralized zones through increased drill density.

Results demonstrate grade and thickness comparable to those encountered in diamond drill intersections within the same area, which were previously drilled at wider spacing. This relationship is illustrated on vertical cross-sections AE through AL (Figure 3). A complete summary of significant gold intersections is provided below (Table 2).

The results of the RC Infill Drill Program may support a future evaluation of the Mineral Resource for potential classification upgrades from the Indicated to Measured category, subject to future geological modelling, estimation, and classification work. The program utilized a drilling methodology designed to more closely approximate anticipated drilling spacing required for greater confidence and provide additional information relevant to the assessment of mining dilution and mineralization continuity.

Any future Mineral Resource Estimate incorporating the results of the RC Infill Drill Program will be completed separately from the ongoing updated Feasibility Study. As the updated Feasibility Study is anticipated to be completed later in 2026, and analytical results from portions of the RC Infill Drill Program remain outstanding, these results will not be incorporated into the Mineral Resource Estimate supporting the updated Feasibility Study.

The Company previously filed a technical report for the Goldboro 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 (the "2021 Feasibility Study"). The report is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.nexgold.com.

Figure 1. Map showing the Goldboro Project location and the planned drill hole locations for the current RC Infill Drill Program relative to the initial years of mining contemplated in the 2021 Feasibility Study.

Figure 2. A map showing the location of drill holes reported in this news release and the associated cross sections relative to planned early-years of mining as reported in the 2021 Feasibility Study.

Figure 3. Vertical north-south cross sections (AE-AL) looking east showing drill holes for the RC Infill Drill Program reported in this news release. The cross sections correspond to the section lines shown in Figure 2. Areas along the section lines without drill holes represent portions of the deposit that are not currently accessible to drilling due to historical workings or surface access constraints. These areas are expected to be drilled in the future when they become accessible.

Table 1. RC Infill Drill Program collar information table for drill holes reported in this news release.

1. Drill Holes RC-26-002 to -229, -254 to -259, -261, -310 to -323 were presented in news releases dated June 25, 2026, July 7, 2026, and August 19, 2026, respectively. Assays are pending for all remaining drill holes not listed here and will be reported in future news releases.
2. Collar coordinates are Universal Transverse Mercator, North American Datum 1983.

Table 2. Significant drill assay highlights from the RC Infill Drill Program.

1. Drill Holes RC-26-230, 239, 243,250, 253-254, 257-258, 264-266, 268-269, 275-276, 277, 281, 291, 294, 298 and 304 are not listed in Table 2 as they do not have significant assays.
2. True width of mineralization varies between 50 and 100% depending on the location of the drillhole and orientation of the mineralized zone.

QA/QC

The Company has implemented a quality assurance and quality control ("QA/QC") program to ensure that sampling and analytical procedures are conducted in accordance with CIM Exploration Best Practice Guidelines. The QA/QC program includes the regular insertion of certified reference materials, blanks, and laboratory-prepared duplicate samples into the analytical stream. In addition, laboratory QA/QC procedures include the use of internal standards, blanks, and repeat analyses. QA/QC results are reviewed continuously by the Company's technical team, and any failures or anomalous results are investigated, with re-analysis conducted where appropriate.

Reverse circulation ("RC") drill samples were collected at nominal one metre intervals using a cyclone and riffle/rotary splitter system. All RC samples were weighed, and sample weight variability and recovery were monitored throughout the program to assess sample quality and consistency. A target sample weight of approximately 2.5 kg was maintained throughout the program, with average recovery of approximately 85%. A geologist was present at the drill rig during drilling operations to monitor drilling and sampling procedures.

Representative split samples were placed into labelled sample bags, sealed, and transported under chain-of-custody procedures to ALS Canada Ltd. ("ALS") in Moncton, New Brunswick. ALS is independent of the Company. Samples submitted for gold analysis by PhotonAssay™ were crushed to approximately 70% passing 2 mm, after which a representative 500 g split was collected using a riffle splitter and transferred into jars for analysis at ALS's laboratory in Thunder Bay, Ontario.

PhotonAssay™ utilizes high-energy X-rays to determine gold content from a large sample aliquot, typically 500 g of crushed material. The method is non-destructive and is particularly well suited to gold deposits where larger sample aliquots may improve sample representativity. For samples returning grades greater than 350 g/t gold, an additional PhotonAssay™ analysis is completed using higher-grade standards.

Due to the non-destructive nature of PhotonAssay™, routine 30 g fire assay check analyses are conducted on the jarred material to compare results with PhotonAssay™ data and monitor analytical performance.

Selected samples analyzed by PhotonAssay™ will also be subjected to total pulp metallics analysis. Under this procedure, the entire sample is crushed to 100% passing 10 mesh and pulverized to 95% passing 150 mesh. The total pulp is weighed and screened at 150 mesh. The plus-150-mesh fraction is analyzed for gold by fire assay, while a 30 g subsample of the minus-150-mesh fraction is also analyzed by fire assay. A weighted-average gold grade is then calculated and reported as the final gold assay result.

Total pulp metallics assay results for certain drill holes reported in this news release remain pending and may be disclosed in a future news release as they become available.

Qualified Person

Paul McNeill, P.Geo., VP Exploration of NexGold, is a “Qualified Person” as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical information contained in this news release.

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:

Cautionary Note Regarding Forward-Looking Information

This news release contains or incorporates by reference “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”). Except for statements of historical fact, this news release contains forward-looking information including, without limitation: information regarding the Company’s strategic objectives and plans; the timing, advancement and results of the RC Infill Drill Program; the potential reclassification of portions of Mineral Resources from the Indicated category to the Measured category; the incorporation of RC Infill Drill Program results into a future mineral resource estimate; the completion and timing of the updated Feasibility Study; the timing of a potential investment decision; and the potential development and construction of the Goldboro Gold Project. Generally, forward-looking information is characterized by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “is projected”, “anticipates” or “does not anticipate”, “believes”, “targets”, or variations of such words and phrases. Forward-looking information may also be identified in statements where certain actions, events or results “may”, “could”, “should”, “would”, “might”, “will be taken”, “occur” or “be achieved”.

Forward-looking information is based on a number of material assumptions, including, without limitation: the accuracy of exploration and assay results; the ability to complete planned exploration programs; the availability of financing on reasonable terms; the receipt of required permits, approvals and authorizations; the continuation of current commodity price and market conditions; and the Company's ability to execute its business and development plans as currently contemplated.

Forward-looking information involves known or unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those projected by such forward-looking information. Such factors include, among others: that financing will be available; the plan for, and actual results of, current exploration activities; expectations relating to future exploration, development and production activities as well as growth potential for NexGold’s operations; risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; reliance on third-parties, including governmental entities, for mining activities; the ability of NexGold to complete further exploration activities, including drilling at the Goliath Gold Complex and Goldboro deposits; the ability of the Company to obtain required approvals; the results of exploration activities; risks relating to mining activities; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of mineral resources, production and cost estimates; health, safety and environmental risks; worldwide demand for gold and base metals; gold price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; the ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations; and those factors described in the Company’s Management’s Discussion and Analysis for the year ended December 31, 2025 and in the Company’s most recent disclosure documents filed under its issuer profile on SEDAR+ at www.sedarplus.ca. In addition, there can be no assurance that the results of ongoing analytical work, including pending total pulp metallics analyses, will be consistent with preliminary analytical results reported to date.

Although management of the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented to assist shareholders in understanding the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information contained herein, except in accordance with 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.

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