NexGold Initiates a 25,000-metre Infill Diamond Drill Program at the Goliath Gold Complex, Ontario

About this update from Nexgold Mining Corp.

[{"type":"text","content":"NexGold Initiates a 25,000-metre Infill Diamond Drill Program at the Goliath Gold Complex, Ontario\nTORONTO, Jan. 28, 2026 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to announce it has commenced diamond drilling at the Company’s Goliath Gold Complex in Ontario (“Goliath Complex”) (Figure 1). The drill program, which comprises up to 25,000 metres, is focused on the Goldlund Deposit and is designed to infill and potentially expand open-pit Mineral Resources (Figure 2). This drill program will primarily be focused on the deeper portions of the Goldlund open-pit Mineral Resource where the Company would like to increase drill density and further drill test high-grade plunging shoots to test their geological continuity. The drill program was initiated late in 2025 and is anticipated to continue throughout 2026. Kevin Bullock, President and CEO, stated: “We expect 2026 will be a transformational year for NexGold as we advance towards a final investment decision at the permitted open pit Goldboro Gold Project in Nova Scotia. While that work progresses, we will continue our focus on creating value for shareholders, stakeholders and Rightsholders, which includes the opportunity to optimize the Goliath Complex in Ontario. The current drill program is consistent with project optimization and value creation, which will also include continued engagement with First Nations communities, advancement of permitting activities, as well as feasibility and other technical studies. We anticipate regular updates on the drill program throughout the year as drill results are available.” The Goliath Complex, comprised of the Goliath, Goldlund and Miller Deposits, includes Proven & Probable Mineral Reserves of 1,267,000 ounces of gold and 1,724,000 ounces of silver (30,319,000 tonnes at a grade of 1.30 g/t gold and 1.77 g/t silver), including Probable Reserves of 621,000 ounces of gold (16,256,000 tonnes at a grade of 1.19 g/t gold) at Goldlund (Table 1). These Mineral Reserves are based on a Mineral Resource Estimate that includes 1,784,500 ounces of gold and 2,819,100 ounces of silver in combined Measured and Indicated open-pit Mineral Resources (64,769,000 tonnes grading 0.86 g/t gold and 2.99 g/t silver), includi...

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