Nexgold · TSXV:NEXG
Nexgold — NexGold Mining — Investor Presentation (August 2025)
60 slides from Nexgold's investor presentation, August 2025
Slide 1: Creating Canada's Newest & Most-Advanced Developer
Creating Canada’s Newest & Most-Advanced Developer August 2025 TSX.V: NEXG OTCQX: NXGCF
Slide 2: Cautionary Statements
Cautionary Statements Disclaimer Forward-looking Statements Cautionary Statement Regarding Mineral Resource and Mineral Reserve Estimates Technical Disclosure TSX.V: NEXG 2
Slide 3: Company Overview
Company Overview Company Overview Strategic Benefits and Synergies Leadership and Governance Financial and Operational Highlights TSX.V: NEXG 3
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
Slide 5: Management and Board Members
Management and Board Members Executive Management Kevin Bullock Jeremy Wyeth Orin Baranowsky Mr. Bullock is a registered Senior leadership roles: 25+ years in finance; over $1B Professional Mining Engineer in DeBeers, Anglo American. in financing for exploration the province of Ontario. Board 35 yea
Slide 6: Corporate Structure
6.9% Frank Giustra Corporate Structure 5.0% Extract 2.9% NEXG Mgmt + BOD 45.2% Capital Market Data Retail and Other Symbol TSXV: NEXG | OTCQX: NXGCF Shares Outstanding 40.0% (after recent financings and based on pro forma adjustments) 158.9M Institutional Warrants 43.1M ($0.84 - $2.31 exercise price
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
Slide 8: Goliath Gold Complex
Goliath Gold Complex District Scale: World Class Infrastructure and Talent: Environmental Approval: Exploration Potential: Active Gold District Surrounded by major gold producers like Kinross, Agnico Eagle, Barrick and more owning nearby multi-million-ounce Au projects TSX.V: NEXG 8
Slide 9: Goliath Gold Complex
Resource Classification Tonnes (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Goliath Gold Measured 6,393 1.33 273.6 5.17 1,062.7 Complex Indicated 61,318 0.95 1,865.0 2.92 2,459.3 M&I 67,711 0.98 2,138.6 3.42 3,522.0 Inferred 32,571 0.75 782.8 0.84 91.5 100% ownership of Goliath located in Northwestern
Slide 10: 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
Slide 11: 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
Slide 12: Production profile
Production profile MARCH 2023 PFS HIGHLIGHTS 116K ounces per year for first 7 years 13-yr mine life with average production >100koz Au in first 9 years 6.5ktpd gravity-CIL plant; average Au recovery 92.8% C$336M Post-tax NPV5% and 25.4% IRR at US$1,750 Au LOM Cash Cost US$935/oz; LOM AISC US
Slide 13: Goldboro Gold Project
Goldboro Gold Project Leading Scale and Grade: Location Advantage: Environmental Approval: Community Engagement: Resource Tonnes Au (g/t) Au (koz) Classification (kt) Measured 9,255 3.56 1,059 Indicated 12,338 3.84 1,523 Exploration Potential: M&I 21,593 3.72 2,583 Inferred 3,181 4.73 484 Prolific &
Slide 14: 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
Slide 15: Feasibility Study Gold Production (OZ)
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 Mine Life (Years) 10.9 100Koz Au,. C$271M in initial capital costs and 95.8% average gold recove
Slide 16: Goldboro: Exploration Potential
Goldboro: Exploration Potential Selected composited highlights from the drill program include: 26.09 g/t gold over 8.9 metres (105.5 to 114.4 metres) in hole BR-23- 393 including 79.18 g/t gold over 0.5 metres and 371.59 g/t gold over 0.5 metres; 20.59 g/t gold over 3.0 metres (122.4 to 125.4 me
Slide 17: Scale Potential: Opportunity at Depth, Grade Distribution
Scale Potential: Opportunity at Depth, Grade Distribution TSX.V: NEXG 17
Slide 18: Niblack
Niblack 6 Mt NI 43-101 mineral resource, updated February 2023 Geological reinterpretation confirmed by 2021 drilling now provides significant expansion potential in multiple directions 2020/2021 drill highlights includes grades up to 4.93 g/t Au, 145 g/t Ag and 5.18% Cu Existing production-
Slide 19: Comparable Peers
Comparable Peers NexGold is well-positioned, with two near-permitted projects in Canada, to close the valuation gap with its peers in the mining sector, representing significant upside potential for shareholders. Closing the Valuation Gap: Enhancing Market Position Market Cap (C$M) P/NAV Valuations
Slide 20: Key Investment Takeaway
Key Investment Takeaway Unified Strengths: Combined market cap of ~C$130 million, reflecting the scale and enhanced capabilities of the merged entity, with an experienced mid-development and operating team to execute on strategy. Enhanced Project Portfolio: Partially-permitted projects with stro
Slide 21: Contact
Contact Call Us Chat with us TSX.V: NEXG 21
Slide 22: Appendix
Appendix TSX.V: NEXG 22
Slide 23: Goliath Gold Complex NI 43-101 Mineral Reserve Estimate
Goliath Gold Complex NI 43-101 Mineral Reserve Estimate Deposit Quantity (‘000 tonnes) Grade Gold (g/t) Contained Gold (‘000 oz) Grade Silver (g/t) Contained Silver (‘000 oz) Open Pit – Goliath Proven 3,969 1.05 134 3.22 410 Probable 5,580 0.67 119 2.20 395 Proven & Probable 9,549 0.83 254 2.62 805
Slide 24: Goliath Gold Complex NI 43-101 Mineral Resource Estimate
Goliath Gold Complex NI 43-101 Mineral Resource Estimate Deposit Cut-off Grade (g/t) Quantity (‘000 tonnes) Grade Gold (g/t) Contained Gold (‘000 oz) Measured Resources Goliath Open Pit 0.25 6,223 1.20 240 Goliath Underground 2.2 170 6.24 34 Total Measured 6,393 1.33 274 Indicated Resources Goliath
Slide 25: Goliath Pre-Feasibility Study
General LOM Total Avg. Gold Price (US$/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
Slide 26: 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
Slide 27: 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
Slide 28: 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
Slide 29: 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
Slide 30: 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,
Slide 31: 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
Slide 32: 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 $400
Slide 33: Goldboro: 2021 Mineral Resource Estimate
Goldboro: 2021 Mineral Resource Estimate Mineral Resource Type Gold Cut-off (g/t gold) Category Tonnes Grade (g/t gold) Gold Troy Ounces November 2021 Mineral Resource based on: Measured 7,680,000 2.76 681,000 681 surface and underground drill holes Indicated 7,988,000 2.89 741,000 A total of 12
Slide 34: Goldboro: Significant Mineral Resource Growth
Goldboro: Significant Mineral Resource Growth Probable Reserves of 1,150,200 3,200,000 ounces of gold (15.8 million tonnes High Quality Mineral Resource @ 2.26g/t Au) 2,700,000 • A total of 121,540m of diamond drilling, including 55,803m conducted by the Company 2,200,000 • 681 surface and undergrou
Slide 35: Goldboro: Infrastructure and Facilities
Goldboro: Infrastructure and Facilities Infrastructure contained in a single watershed Fully-lined Tailings Storage Facility designed for 16.4 million tonnes of tailings and 10.8 million tonnes of co- placed Waste Rock Employee Accommodation Facilities to house up to 175 personnel during operati
Slide 36: Phased-Development Approach for Long Life Mine
Phased-Development Approach for Long Life Mine The Company is approaching the development of Goldboro in a disciplined, capital efficient, phased approach, with the Phase I Feasibility Study focused on the surface mining component of a longer-term plan that would incorporate underground mining into
Slide 37: Goldboro: Gold Price Leverage
Goldboro: Gold Price Leverage Description Unit Net Present Value (C$ 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
Slide 38: 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
Slide 39: 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
Slide 40: 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
Slide 41: 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 41
Slide 42: 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
Slide 43: 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
Slide 44: 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
Slide 45: 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
Slide 46: 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
Slide 47: 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
Slide 48: 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
Slide 49: 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
Slide 50: Letter of Offer
Letter of Offer ads D 35094366 (26dac-) Guysborough County TSX.V: NEXG
Slide 51: Schedule 2 Amendment (MDMER)
Schedule 2 Amendment (MDMER) • Process for listing water bodies frequented by fish and impacted by mine waste to Schedule 2 of the Metal and Diamond Mining Effluent Regulations (MDMER) to designate them as tailings impoundment areas (TIAs) • Tailing Impoundment Areas (TIA/TMF), waste rock and other
Slide 52: Consultation on Schedule 2 and FAA
Consultation on Schedule 2 and FAA • Based on their review of the FAA, Alternatives Assessment (AA), and Fish Habitat Compensation Plan (FHCP), ECCC concluded that our applications met the information requirements set out in applicable Regulations. • Although the application has been identified as c
Slide 53: Consultation
Consultation • NexGold has engaged with many Indigenous communities and organizations specifically relating to fisheries offsetting projects: • Paqtnkek Mi’kmaw Nation • Pictou Landing First Nation • KMK • CMM/MCG • UINR • NexGold worked in collaboration with Paqtnkek Mi’kmaw Nation to select a stre
Slide 54: Rightsholder and Stakeholder Engagement
Rightsholder and Stakeholder Engagement • NexGold has been committed to Rightsholder, stakeholder and public engagement since initiation of the Project in 2017 • Endeavoured to work with the local community, Indigenous groups, non-governmental organizations (NGOs), regulatory agencies, and intereste
Slide 55: Community Liaison Committee (CLC)
Community Liaison Committee (CLC) • Established in 2017 with representation from multiple communities, MODG (Municipality of the District of Guysborough), Indigenous communities, small businesses, the Goldboro Interpretative Centre, and full time, part-time and seasonal residents • Formed using the
Slide 56: Community Groups
Community Groups • Presentations to many organizations, community groups and educational institutions on its exploration and mine development activities and will continue to make these presentations to share information about operations in Goldboro • Actively search for opportunities to speak with c
Slide 57: Community Benefits Agreement (CBA)
Community Benefits Agreement (CBA) • CBA between Municipality of the District of Guysborough (MODG) and NexGold • Effective January 2022 • Conditions: • MODG will provide all approvals, permits, and letters of support • NexGold will use “reasonable commercial efforts” to support local economy throug
Slide 58: Indigenous Engagement
Indigenous Engagement Background information • 13 Mi’kmaw Nations in Nova Scotia and there are 42 reserve locations across Nova Scotia • Mi'kma'ki encompasses Nova Scotia, Prince Edward Island, the island of Newfoundland, and parts of New Brunswick and Quebec; 7 districts. • MOU is with NexGold and
Slide 59: Towards Reconciliation
Towards Reconciliation • Call to Action #92: We call upon the corporate sector in Canada to adopt the United Nations Declaration on the Rights of Indigenous Peoples as a reconciliation framework and to apply its principles, norms, and standards to corporate policy and core operational activities inv
Slide 60: Towards Reconciliation
Towards Reconciliation • Call to Action #13. We call upon the federal government to acknowledge that Aboriginal rights include Aboriginal language rights. • Working to provide Mi’kmaq translations for documents used in Consultation (AA and FHCP). • Call to Action #88. We call upon all levels of gove