New Drill Results Confirm Expanding Gold Mineralization Across Key Deposit Zone

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1. Ownership and Share Structure Information

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NexGold Mining Corp. (NEXG:TSX.V; NXGCF:OTCQX; TRC1:FSE) reported additional results from its ongoing diamond drilling program at the Goliath Gold Complex, specifically at the Goldlund Deposit in Ontario. The program comprises up to 25,000 meters of drilling and is focused on infilling and potentially expanding open-pit Mineral Resources.

The latest results include 777 meters of drilling across three holes, GL-25-015, GL-25-016, and GL-26-009, targeting Zone 4 mineralization at the northeast end of the deposit. Reported intersections included 1.79 g/t gold over 25.6 meters in hole GL-25-015, 3.22 g/t gold over 10.5 meters in hole GL-25-016, and 1.49 g/t gold over 11.0 meters in hole GL-26-009. These results also included higher-grade intervals within the broader intersections.

The company stated that these results confirm previously reported mineralization over an approximate 100-meter dip extent in Zone 4 and are consistent with earlier drill results announced on February 25, 2026. According to the company, the drilling supports continuity of mineralization and provides additional information relevant to the interpretation of grade continuity within the zone.

Kevin Bullock, President and CEO of NexGold, stated in the news release, "The drill results reported today demonstrate continuity of Zone 4 mineralization at deeper levels of open pit Mineral Resources." He added, "I am encouraged by these results, along with those previously reported from this area, which continue to demonstrate a strong tenor of gold mineralization over a 100-meter dip extent, and remain open at depth."

Gold Sector Supported by Strong Prices, Central Bank Demand, and Renewed Interest in Junior Miners

Bloomberg wrote on April 9 that gold was "making a quiet comeback" after earlier weakness, with bullion on pace for a third consecutive weekly gain. The report stated that "central bank demand remains solid," with China increasing purchases and Poland continuing to expand reserves. It also noted that bullion-backed exchange-traded funds began to stabilize after prior outflows, with holdings showing "modest builds so far in April." The publication added that macroeconomic conditions, including government debt pressures, "stand to bolster the precious metal's appeal as an asset that operates as a time-tested, highly liquid and independent store of value."

According to an analysis published by 321 Gold on April 10, Morris Hubbartt wrote that "the junior gold and silver miners look fantastic, and my long-term charts suggest the biggest action lies ahead." He added that "the hunt is on, for ten, twenty, and thirty baggers," highlighting continued attention on smaller-cap mining equities within the sector.

Reuters reported on April 10 that gold prices were "headed for a weekly gain" as the U.S. dollar weakened following geopolitical developments tied to a U.S.-Iran truce. Spot gold was noted at US$4,761.79 per ounce, gaining nearly 2% for the week. Independent metals trader Tai Wong stated that "gold buyers are carefully reclaiming the narrative this week with higher lows every day," while adding that "a break back above could re-ignite the bull run."

David Meger of High Ridge Futures said that as tensions in the Middle East de-escalated, "there has been a little higher expectation of potentially seeing lower interest rates at some point, and the dollar came under pressure," which supported gold prices. The report also noted that bullion continued to be "seen as a hedge against inflation and geopolitical uncertainty," even as high interest rates could weigh on its appeal due to the absence of yield.

2026 Development and Exploration Programs

According to the company's investor presentation, NexGold outlined several development and exploration activities across its projects in 2026.

At the Goldboro Gold Project, the company plans to update the Mineral Resource Estimate based on recently completed infill drilling and update the Feasibility Study, including operating costs, capital expenditures, and gold price assumptions. The company also intends to build organizational capacity, finalize contracting and procurement strategies, and advance detailed engineering. Additional activities include commencing procurement for long-lead equipment, finalizing project financing arrangements, and making a final investment and construction decision. The company also plans to initiate an early works construction program in the second half of 2026 to support a full construction ramp-up. Exploration activities include commencing close-spaced infill drilling to define near-surface Mineral Resources and targeting the discovery of additional deposits and mineral resources.

At the Goliath Gold Complex, NexGold is conducting a 25,000-meter infill drill program at Goldlund to improve mineral resource definition at depth and expand open-pit Mineral Resources. The company is also undertaking additional exploration across the broader property package to discover and grow mineral resources. Environmental baseline and technical studies are being carried out to support permitting, alongside collaboration with First Nations communities and local stakeholders. The company is also evaluating multiple potential project plans and configurations as part of its effort to advance and de-risk the project.