NexGold Announces Closing of US$24 Million Royalty

About this update from Nexgold Mining Corp.

[{"type":"text","content":"NexGold Announces Closing of US$24 Million Royalty\n\n\n\n TORONTO, Sept. 29, 2025 (GLOBE NEWSWIRE) --\n \n NexGold Mining Corp.\n \n (\n \n TSXV: NEXG;\n \n\n OTCQX: NXGCF)\n \n (“\n \n NexGold\n \n ” or the “\n \n Company\n \n ”) is pleased to announce that it has closed its previously announced financing for a 2.9% net smelter returns royalty (the “\n \n Royalty\n \n ”) with Appian Capital Advisory Limited (“\n \n Appian\n \n ”) in relation to the Company’s 100% owned Goldboro Gold Project (the “\n \n Project\n \n ”). Under the terms of the financing transaction, the Company, through its wholly-owned subsidiary Goldboro Gold Mine Inc. (“\n \n GGM\n \n ”), received cash consideration of US$24 million. This transaction secures for the Company a less dilutive source of financing, and helps advance the Project through project development activities towards project financing and a construction decision while maintaining the robust economics of the Project.\n \n\n The Company used a portion of the proceeds from the Royalty to retire the existing US$12 million credit facility held by Nebari and exercised its buyback on the 0.6% net smelter return royalty also held by Nebari. Post this transaction, the Company does not hold any material debt with third parties.\n \n\n\n Royalty Details\n \n\n\n\n\n Royalty\n \n - The Royalty is on all minerals produced from the Project up until 1,250,000 ounces of gold or gold equivalent is achieved, and thereafter only on gold, for the life of the Project.\n \n\n\n Buyback\n \n – GGM will have a right at its sole discretion to repurchase a portion of the Royalty (effectively bringing the Royalty down to 1.0% of net smelter returns), for US$29M within the third anniversary of the closing date and for US$30.5M thereafter until the fourth anniversary of the closing date.\n \n\n\n Minimum Payments\n \n – Prior to commercial production being achieved at the Project, certain minimum payments will be implemented if construction of the Company’s Goliath Gold Complex project in Ontario (the “\n \n Goliath Project\n \n ”) is also started or started in advance of the Project. No minimum payments are payable if the Goliath Project does not begin construction prior to the Project achievin...

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