Nexgold · TSXV:NEXG

Nexgold — Investor Presentation (January 2026)

47 slides from Nexgold's investor presentation, January 2026

  1. Slide 1: Creating Canada's Newest & Most-Advanced Developer

    Creating Canada’s Newest & Most-Advanced Developer January 2026 TSX.V: NEXG OTCQX: NXGCF

  2. Slide 2: Cautionary Statements

    Cautionary Statements Disclaimer This presentation is not, and in no circumstances is it to be construed as, a prospectus, an advertisement, or a public offering of securities. No securities regulatory authority or similar authority has reviewed or in any way passed upon the document or the merits o

  3. Slide 3: Company Overview

    Company Overview Formed Through Strategic M&A; The Next Canadian Gold Mid-Tier  NexGold is the result of the acquisition of Blackwolf Copper and Gold Ltd. by Treasury Metals Inc. in 2024 to form NexGold, and the subsequent acquisition of Signal Gold Inc.;  Transactions combined multiple Canadian g

  4. Slide 4: Portfolio Overview

    Portfolio Overview Goliath (PFS, 2023) Goldboro (FS, 2022) NPV5% $336M $328M (After-Tax) IRR 25.4% 25.5% (After-Tax) Mine Life 13 years 10.9 years Payback Period 2.1 years 2.9 years Avg. Annual 91Koz AuEq 100Koz Au Production AISC US$1,072/oz US$849/oz Au Price US$1,750 US$1,600 Assumption The trans

  5. Slide 5: Management and Board Members

    Management and Board Members Executive Management Board of Directors Jim Gowans Kevin Bullock Andy Bowering Kevin Bullock Orin Baranowsky Chairman Director Director Mr. Bullock is a registered 25+ years in finance; over $1B Professional Mining Engineer in financing for exploration Morgan Lekstrom Ro

  6. Slide 6: Capital Structure

    Capital Structure 5% Frank Giustra 2% NEXG Mgmt + BOD Capital Market Data 33% Retail and Symbol TSXV: NEXG | OTCQX: NXGCF Other Shares Outstanding 244.5M 60% Institutional Warrants 105.5M ($0.84 - $1.92 exercise price, avg exercise price $1.65) Fully Diluted Shares Outstanding 356.4M Market Capitali

  7. Slide 7: Goliath and Goldboro – Two of the Next Permitted Gold Mines in Canada

    Goliath and Goldboro – Two of the Next Permitted Gold Mines in Canada TSX.V: NEXG 7

  8. Slide 8: Goldboro Gold Project

    Goldboro Gold Project Leading Scale and Grade: The 100%-owned Goldboro project consists of ~285km2 of prospective land within the Goldboro Gold District, representing the largest gold deposit in Nova Scotia. Located 175km east of Halifax, the project has the highest grade undeveloped open pit reserv

  9. Slide 9: Goldboro: A Robust Open Pit Project

    Goldboro: A Robust Open Pit Project C$328 MILLION, ~11 YEARS ~100,000 C$271 IRR 25.5% OUNCES MILLION AFTER-TAX NPV 5% OPEN PIT AVERAGE ANNUAL LOM GOLD INITIAL CAPITAL (US$1,600/oz Gold Price) MINE LIFE PRODUCTION 1.2 NPV TO INITIAL US$773 per US$849 per CAPITAL 95.8% OUNCE OUNCE AFTER-TAX IRR AVERAG

  10. Slide 10: Feasibility Study

    Feasibility Study General LOM Total Avg. FS NPV >C$1B at Spot Prices Gold Price (US$/oz) $1,600 The 2022 Goldboro project FS indicates a ~11-year open pit mine life with average annual gold production of 100Koz Mine Life (Years) 10.9 Au,. C$271M in initial capital costs and 95.8% average gold recove

  11. Slide 11: Goldboro: Exploration Potential

    Goldboro: Exploration Potential Selected composited highlights from the drill program include:  26.09 g/t gold over 8.9 metres (105.5 to 114.4 metres) in hole BR-23- 393 including 79.18 g/t gold over 0.5 metres and 371.59 g/t gold over 0.5 metres;  20.59 g/t gold over 3.0 metres (122.4 to 125.4 me

  12. Slide 12: Scale Potential: Opportunity at Depth, Grade Distribution

    Scale Potential: Opportunity at Depth, Grade Distribution TSX.V: NEXG 12

  13. Slide 13: Goliath Gold Complex

    Goliath Gold Complex District Scale: World Class Infrastructure and Talent: Environmental Approval: Exploration Potential: Resource Classification Tonnes (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Measured 6,393 1.33 273.6 5.17 1,062.7 Indicated 61,318 0.95 1,865.0 2.92 2,459.3 M&I 67,711 0.98 2,138.6

  14. Slide 14: Goliath Infrastructure

    Goliath Infrastructure  World class infrastructure at our doorstep, including:  Trans-Canada Highway  Ontario Provincial Hwy 72  CP Rail  Hydro Trans-Canada Highway  Ready access to experienced and available workforce in Dryden and Sioux Lookout  Environmental Assessment approval received for

  15. Slide 15: Goliath: A Robust Open Pit-Underground Project

    Goliath: A Robust Open Pit-Underground Project C$336 MILLION, 13+ YEARS ~109,000 C$335 IRR 25.4% OUNCES MILLION AFTER-TAX NPV 5% MINE LIFE AVERAGE ANNUAL GOLD INITIAL CAPITAL (US$1,750/oz Gold Price) PRODUCTION YR 1-9 1.0 NPV TO INITIAL US$892 per US$1,037 per CAPITAL 92.8% OUNCE OUNCE AFTER-TAX IRR

  16. Slide 16: Niblack

    Niblack  6 Mt NI 43-101 mineral resource, updated February 2023  Geological reinterpretation confirmed by 2021 drilling now provides significant expansion potential in multiple directions  2020/2021 drill highlights includes grades up to 4.93 g/t Au, 145 g/t Ag and 5.18% Cu  Existing production-

  17. Slide 17: Comparable Peers

    Comparable Peers NexGold is well-positioned, with two near-permitted projects in Canada, to close the valuation gap with its peers in the mining sector, representing significant upside potential for shareholders. Closing the Valuation Gap: Enhancing Market Position Market Cap (C$M) P/NAV Valuations

  18. Slide 18: Key Investment Takeaway

    Key Investment Takeaway  Unified Strengths: Combined market cap of >C$500 million, reflecting the scale and enhanced capabilities of the merged entity, with an experienced mid-development and operating team to execute on strategy.  Enhanced Project Portfolio: Permitted projects with strong First N

  19. Slide 19: Contact

    Contact Call Us Chat with us TSX.V: NEXG 19

  20. Slide 20: Appendix

    Appendix TSX.V: NEXG 20

  21. Slide 21: Goldboro: 2021 Mineral Resource Estimate

    Goldboro: 2021 Mineral Resource Estimate Mineral Resource Type Gold Cut-off (g/t gold) Category Tonnes Grade (g/t gold) Gold Troy Ounces November 2021 Mineral Resource based on: Measured 7,680,000 2.76 681,000  681 surface and underground drill holes Indicated 7,988,000 2.89 741,000  A total of 12

  22. Slide 22: Goldboro: Significant Mineral Resource Growth

    Goldboro: Significant Mineral Resource Growth Probable Mineral Reserves of 3,200,000 1,150,200 ounces of gold (15.8 High Quality Mineral Resource million tonnes @ 2.26g/t Au) 2,700,000 • A total of 121,540m of diamond drilling, including 55,803m conducted by the Company 2,200,000 • 681 surface and u

  23. Slide 23: Goldboro: Infrastructure and Facilities

    Goldboro: Infrastructure and Facilities Infrastructure contained in a single watershed  Fully-lined Tailings Storage Facility designed for 16.4 million tonnes of tailings and 10.8 million tonnes of co- placed Waste Rock  Employee Accommodation Facilities to house up to 175 personnel during operati

  24. Slide 24: Phased-Development Approach for Long Life Mine

    Phased-Development Approach for Long Life Mine The Company is approaching the development of Goldboro in a disciplined, capital efficient, phased approach, with the Phase I Feasibility Study focused on the surface mining component of a longer-term plan that would incorporate underground mining into

  25. Slide 25: Goldboro: Gold Price Leverage

    Goldboro: Gold Price Leverage Description Unit Net Present Value (C$ M)  The Feasibility Study indicates a robust Project with strong % Variation % -20% -10% 0% +10% +20% economics at US$1,600 gold US$/oz US$1,280 US$1,440 US$1,600 US$1,760 US$1,920 (C$2,000), with significant Au Price leverage in

  26. Slide 26: Targeting the Expansion of the Goldboro Gold District

    Targeting the Expansion of the Goldboro Gold District Opportunity for further regional mineral resource growth based on ~4,000-line kilometre airborne magnetic and very low frequency (“VLF”) electromagnetic surveys  Survey indicates numerous geophysical anomalies associated with both the Goldboro a

  27. Slide 27: Scale Upside: Near-Surface Mineral Resource Growth Potential

    Scale Upside: Near-Surface Mineral Resource Growth Potential Opportunity for mineral resource growth to the west, towards the past-producing Dolliver Mountain gold mine  Goldboro has completed a 50-line kilometre Induced Polarization (IP) geophysical survey for 1.1km west of previous Goldboro drill

  28. Slide 28: Near-Surface Gold Discovery – Dolliver Mountain

    Near-Surface Gold Discovery – Dolliver Mountain  Continued multiple intersection around past producing Dolliver Mountain;  Multiple intersections representing stacked argillite units similar to the Goldboro model  Potential up-plunge mineralization from under previous drilling at Goldboro  Exten

  29. Slide 29: Scale Potential of the Goldboro Deposit

    Scale Potential of the Goldboro Deposit  Mineralization now traced for over 3.4km of strike length  Indications of further mineralization along strike and down plunge  Deepest hole drilled to date is 550m vertical and continues to be open TSX.V: NEXG 29

  30. Slide 30: The Fowler Target

    The Fowler Target  The Fowler target is located within the Goldboro Trend, a 28-km-long geological trend defined by an anticlinal fold structure that hosts the Goldboro Deposit  The Goldboro Deposit is hosted within a geological level referred to as the Richardson sequence which plunges eastward 

  31. Slide 31: Permitting: Goldboro

    Permitting: Goldboro • Permitting the Project vs Exploration • Baseline work commenced in 2017; evolved over subsequent years • SW, GW, fish, fish habitat, wetlands, archeology, birds, moose, turtles, bats, etc. • Municipal Permits: rezoning, permit to occupy, reclassification of road • Provincial P

  32. Slide 32: Environmental Assessment (EA)

    Environmental Assessment (EA) • Goldboro Project was a Class 1 EA, in accordance with the Nova Scotia Environment Act; <5000 t/d trigger • EAs ensure that companies identify and mitigate potential environmental impacts of proposed projects prior to projects being constructed • NexGold used the EA pr

  33. Slide 33: Mineral Lease

    Mineral Lease • Submitted July 2023 • Received July 2024, Approved by Cabinet May 2025 • Valid for up to 20 years from the date they are issued and can be renewed for another 20 years • Grants NEXG the right to use the surface of the land to the extent necessary for mineral exploration and productio

  34. Slide 34: Crown Land

    Crown Land • Application submitted to NS DNRR in July 2022 • Received Letter of Offer in July 2024 (major milestone) • Lease is for approximately 779 hectares (1,925 acres) and the licence is for approximately 97 hectares (240 acres) of Crown lands • Lease: “for the purpose of developing and operati

  35. Slide 35: Schedule 2 Amendment (MDMER)

    Schedule 2 Amendment (MDMER) • Application was submitted in December 2022 and accepted for Consultation in November 2023 • Consultation continued throughout 2024 and 2025 • Letter of Support from Chief Corey of Paqtnkek • Letter from ECCC Minister (March 13, 2025) confirmed NexGold had met the neces

  36. Slide 36: Fisheries Act Authorization (FAA)

    Fisheries Act Authorization (FAA) • FAA is required based on known and predicted impacts to fisheries resources • The Project is expected to impact a total of approximately 23.26 ha of fish habitat that currently supports American eel, brook trout, small-bodied forage fish; 0.27 ha will be impacted

  37. Slide 37: Industrial Approval

    Industrial Approval • IA ensures that an activity is environmentally acceptable, and/or the methods and materials used, and wastes generated will not cause adverse environmental effects and is enforceable under the Environment Act • Approval contains terms and conditions that the project must follow

  38. Slide 38: Goliath Gold Complex NI 43-101 Mineral Reserve Estimate

    Goliath Gold Complex NI 43-101 Mineral Reserve Estimate Deposit Quantity (‘000 tonnes) Grade Gold (g/t) Contained Gold (‘000 oz) Grade Silver (g/t) Contained Silver (‘000 oz) Open Pit – Goliath Proven 3,969 1.05 134 3.22 410 Probable 5,580 0.67 119 2.20 395 Proven & Probable 9,549 0.83 254 2.62 805

  39. Slide 39: Goliath Gold Complex NI 43-101 Mineral Resource Estimate

    Goliath Gold Complex NI 43-101 Mineral Resource Estimate Deposit Cut-off Grade (g/t) Quantity (‘000 tonnes) Grade Gold (g/t) Contained Gold (‘000 oz) Measured Resources Goliath Open Pit 0.25 6,223 1.20 240 Goliath Underground 2.2 170 6.24 34 Total Measured 6,393 1.33 274 Indicated Resources Goliath

  40. Slide 40: Goliath Pre-Feasibility Study

    General LOM Total Avg. Gold Price (US$/oz) $1,750 Goliath Pre-Feasibility Study Silver Price Mine Life Production (US$/oz) (Years) $21 13 PFS NPV >C$1B at Spot Prices Head Grade Au (g/t) 1.30 The February 2023 Prefeasibility Study for Goliath considers a 13-year mine life with average production >10

  41. Slide 41: Goliath Gold Deposit Mineral Resource Estimate

    Goliath Gold Deposit Mineral Resource Estimate Goliath Open Pit Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Ag (g/t) Ag koz Measured 0.25 6,223 1.20 239.5 4.70 940.6 Indicated 0.25 23,081 0.75 559.4 2.53 1,878.5 Meas+ Ind 0.25 29,304 0.85 798.9 2.99 2,819.1 Inferred 0.25 3,330 0.66 70.2 0.80

  42. Slide 42: Goldlund Deposit Mineral Resource Estimate

    Goldlund Deposit Mineral Resource Estimate Goldlund Open Pit Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Measured 0.3 0 0.00 0 Indicated 0.3 33,353 0.85 911.0 Meas+ Ind 0.3 33,353 0.85 911.0 Inferred 0.3 28,833 0.73 680.2 1. Refer to the Notes on the Mineral Resource Estimate in slide 20 of t

  43. Slide 43: Miller Deposit Mineral Resource Estimate

    Miller Deposit Mineral Resource Estimate Miller Open Pit Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Measured 0.3 0 0.00 0 Indicated 0.3 2,112 1.10 74.6 Meas+ Ind 0.3 2,112 1.10 74.6 Inferred 0.3 138 1.01 4.5 1. Refer to the Notes on the Mineral Resource Estimate in slide 24 of this Presentat

  44. Slide 44: Goliath Open Pit Cut-Off Grade Sensitivity

    Goliath Open Pit Cut-Off Grade Sensitivity Goliath Open Pit (January 17, 2022) Goldlund Open Pit (January 17, 2022) Miller Open Pit (January 17, 2022) Class Class Class Cut-off Tonnes Au Grade Au Cut-off Tonnes Au Grade Au Cut-off Tonnes Au Grade Au (g/t) (t) (g/t) (Oz) (g/t) (t) (g/t) (Oz) (g/t) (t

  45. Slide 45: Goliath Comparison Between 2022 MRE and 2021 PEA MRE

    Goliath Comparison Between 2022 MRE and 2021 PEA MRE Comparison - Goliath Gold Complex Total Cut-Off Grade Tonnes (kt) Au (g/t) Au (Oz) Deposit Type Class 2021 PEA MRE 2022 MRE 2021 PEA MRE 2022 MRE 2021 PEA MRE 2022 MRE 2021 PEA MRE 2022 MRE Goliath Open Pit Meas 0.25 0.25 1,471 6,223 1.90 1.20 90,

  46. Slide 46: Goliath Input Parameter Comparison – 2022 MRE vs. 2021 PEA MRE

    Goliath Input Parameter Comparison – 2022 MRE vs. 2021 PEA MRE Parameters Units 2021 PEA MRE 2022 MRE Gold Price $/oz Au 1,700 1,700 Silver Price $/oz Ag 23 23 US$ to CAD 0.75 0.75 Recovery / Regression Au Goliath % 95.5 93.873*Au^0.021 Recovery / Regression Au Goldlund % 89 90.344xAu^0.0527 Recover

  47. Slide 47: Goliath PFS Economic Sensitivity Analysis

    Goliath PFS Economic Sensitivity Analysis Significant leverage to gold price $493M NPV5% post-tax at US$1,950 gold price Gold Price Post-tax NPV5% Initial Capex Total OPEX FX US$/Oz Base Case (-20%) (+20%) (-20%) (+20%) (-10%) (+10%) $1,550 $178 $242 $114 $321 $30 $315 $64 $1,650 $257 $321 $193 $400

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