Co. Receives Last Permit Needed to Develop Mining Asset
Research Report

1. NexGold Mining Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexGold Mining Corp.
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Disclosures for Red Cloud Securities, NexGold Mining Corp., November 7, 2025

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Company Name Ticker Disclosures Company Name Ticker Disclosures Abcourt Mines Inc. TSXV:ABI 1,2,3,7 Lake Victoria Gold Ltd. TSXV:LVG 3 Aftermath Silver Ltd. TSXV:AAG Libra Energy Materials Inc. CNSX:LIBR Apollo Silver Corp. TSXV:APGO 3 Luca Mining Corp. TSXV:LUCA 1,2 Ares Strategic Mining Inc. CNSX:ARS 3 Mayfair Gold Corp. TSXV:MFG 3 Arizona Metals Corp. TSX:AMC McFarlane Lake Mining Ltd. CNSX:MLM Bunker Hill Mining Corp. TSXV:BNKR 3 Metallic Minerals Corp. TSXV:MMG 3 Canada Nickel Company Inc. TSXV:CNC 3,8 Midnight Sun Mining Corp. TSXV:MMA 3 CanAlaska Uranium Ltd. TSXV:CVV 1,2,8 Mineros S.A. TSX:MSA Cerrado Gold Inc. TSXV:CERT 7 Neotech Metals Corp. CNSX:NTMC 3 Copper Giant Resources Corp. TSXV:CGNT 3 Nevada King Gold Corp. TSXV:NKG 3 Cosa Resources Corp. TSXV:COSA 3 New Found Gold Corp. TSXV:NFG Critical Elements Lithium Corp. TSXV:CRE NeXGold Mining Corp. TSXV:NEXG 3 Defiance Silver Corp. TSXV:DEF 3,8 NOA Lithium Brines Inc. TSXV:NOAL Denarius Metals Corp. CBOE CA:DMET 3 North Arrow Minerals Inc. TSXV:NAR Denison Mines Corp. TSX:DML North Peak Resources Ltd. TSXV:NPR Electra Battery Materials Corp. TSXV:ELBM 1,2,3,8 Orosur Mining Inc. TSXV:OMI 3 Eloro Resources Ltd. TSX:ELO 3 Pacific Ridge Exploration Ltd. TSXV:PEX 3 Energy Fuels Inc. TSX:EFR 1,2 Pasofino Gold Ltd. TSXV:VEIN 3 ESGold Corp. CNSX:ESAU 3 Premier American Uranium Inc. TSXV:PUR 5 Excellon Resources Inc. TSXV:EXN 3 PTX Metals Inc. TSXV:PTX 3 F3 Uranium Corp. TSXV:FUU 1,2,3 Silver Storm Mining Ltd. TSXV:SVRS 3 Foremost Clean Energy Ltd. CNSX:FAT 3 Silver X Mining Corp. TSXV:AGX 3 Fury Gold Mines Ltd. TSX:FURY Skyharbour Resources Ltd. TSXV:SYH 1,2,3,8 Galleon Gold Corp. TSXV:GGO Southern Silver Exploration Corp. TSXV:SSV 1,2,3 Geiger Energy Corp. TSXV:BEEP 3,5 Stillwater Critical Minerals Corp. TSXV:PGE 1,2,3 Global Atomic Corp. TSX:GLO 1,2,3 Strathmore Plus Uranium Corp. CNSX:SUU 1,2 Globex Mining Enterprises Inc. TSX:GMX Talisker Resources Ltd. TSX:TSK 1,2,3 Golconda Gold Ltd. TSXV:GG Troilus Gold Corp. TSX:TLG 3 Gold Royalty Corp. NYSEAM:GROY TRX Gold Corp. TSX:TRX Gold Terra Resource Corp. TSXV:YGT Ucore Rare Metals Inc. TSXV:UCU 1,2,3 GoldMining Inc. TSX:GOLD Unigold Inc. TSXV:UGD Graphene Manufacturing Group Ltd. TSXV:GMG 3 US Copper Corp. TSXV:USCU Greenheart Gold Inc. TSXV:GHRT U.S. GoldMining Inc. NASDAQCM:USGO Gunnison Copper Corp. TSX:GCU 3 Vizsla Copper Corp. TSXV:VCU 3,8 Independence Gold Corp. TSXV:IGO Wallbridge Mining Company Ltd. TSX:WM IsoEnergy Ltd. TSX:ISO 1,2,3,5 West Coast Silver Ltd. ASX:WCE Jaguar Mining Inc. TSX:JAG 3 West Point Gold Corp. TSXV:WPG 3 Kenorland Minerals Ltd. TSXV:KLD Westhaven Gold Corp. TSXV:WHN 1,2,3 Kootenay Silver Inc. TSXV:KTN 1,2,

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NexGold Mining Corp. (NEXG:TSX.V; NXGCF:OTCQX; TRC1:FSE) Chief Financial Officer (CFO) Orin Baranowsky shared the company's latest developments in a presentation he gave during Red Cloud Securities' 2025 Fall Mining Showcase recently, Analyst Ron Stewart reported in a Nov. 7 conference recap.

Red Cloud has a Buy rating and a CA$4 per share target price on NexGold.

Some of NEXG's Assets

NexGold is a gold-focused explorer-developer whose flagship project, in the development stage, is Goliath in northwestern Ontario. Goliath has 1,300,000 ounces of gold (1.3 Moz) of gold and 1.7 Moz of silver contained in Proven and Probable reserves and the potential for near-term production.

Another of NexGold's projects is the early-stage Niblack copper-gold-silver-zinc volcanogenic massive sulfide project in southeast Alaska. Niblack hosts an Indicated and Inferred resource of 400,000,000 pounds of copper

Previously, NexGold was called Treasury Metals Inc. until it acquired Blackwolf Copper and Gold Ltd. in July 2024.

Goldboro Inches Ahead

According to CFO Baranowsky, the federal approval NexGold just received for its Goldboro project is the last permit needed to proceed with development. As such, the company likely will develop Goldboro before Goliath, and a construction decision should come in the near term. Once Goldboro is up and running, cash flows from it will help fund the subsequent development of Goliath.

NexGold is evaluating options for boosting gold production, noted Baranowsky. Either it could ramp up annual gold production to 150,000 ounces (150 Koz) of gold from 100 Koz or expand mill throughput to eventually produce a total of 200 Koz of gold per year at Goldboro and Goliath.

What to Watch For

Upcoming catalysts for NexGold include an updated mineral resource estimate for Goldboro and a construction decision likely for Goldboro but possibly for Goliath. Completion of a feasibility study of Goliath is expected in Q4/25. Project permitting progress updates are anticipated on an ongoing basis.