NexGold Continues to Intersect High-Grade Gold Mineralization at the Goldboro Open Pit Gold Project, Including 50.73 g/t gold over 6.65 metres and 5.28 g/t gold over 19.20 metres
Press Release
TORONTO, July 17, 2025 — NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to provide additional drill results from a recently-completed 26,854-metre diamond drill program initially announced on January 22, 2025 at the Company’s Goldboro Open Pit Gold Project (“Goldboro”) in Nova Scotia. The drill program is primarily designed to infill specific areas of the open pit Mineral Resource identified to improve geological and grade continuity and potentially upgrade certain areas of Inferred and Indicated Mineral Resources. The assay results for an additional 14 infill diamond drill holes (BR-25-551 to 559 and BR-25-561 to 565), totalling 3,347.0 metres, were from drilling in the proposed west and east pits (Figures 1 and 2; Tables 1 and 2).
Kevin Bullock, President and CEO, stated: “We are very pleased to continue to see high-grade gold assays from both the East and West Goldbrook open pit domains and that the assays continue to be generally consistent with our Mineral Resource model at Goldboro. The additional drill intercepts within the east and west pits will help us further refine the model going forward. We have begun the update to the Mineral Resource for Goldboro, which will form the basis for an updated Goldboro Feasibility Study.”
Selected drill intersections from the 14 diamond drill holes in this news release are further detailed in Table 2 and include:
- 50.73 g/t gold over 6.65 metres (from 138.60 to 145.25 metres), including 253.00 g/t gold over 1.00 metres, and including 115.30 g/t gold over 0.60 metres in drill hole BR-25-559;
- 5.28 g/t gold over 19.20 metres (from 161.00 to 180.20 metres), including 56.00 g/t gold over 1.00 metres in drill hole BR-25-562;
- 59.60 g/t gold over 0.85 metres (from 123.60 to 124.45 metres) in drill hole BR-25-565;
- 22.21 g/t gold over 1.80 metres (from 179.50 to 181.30 metres), including 48.90 g/t gold over 0.80 metres in drill hole BR-25-553;
- 1.36 g/t gold over 25.60 metres (from 154.40 to 180.00 metres), including 9.44 g/t gold over 0.80 metres in drill hole BR-25-559;
- 2.34 g/t gold over 12.85 metres (from 196.15 to 209.00 metres), including 22.70 g/t gold over 0.85 metres in drill hole BR-25-559;
- 9.35 g/t gold over 3.00 metres (from 54.00 to 57.00 metres), including 43.10 g/t gold over 0.60 metres in drill hole BR-25-559; and
- 1.84 g/t gold over 11.10 metres (from 128.20 to 139.30 metres), including 24.00 g/t gold over 0.50 metres in drill hole BR-25-555.
The Company has now released 100 drill holes (approximately 71%) from the infill program. Results from the drill program, to date, demonstrate the presence of mineralization that is consistent with previous drill results in the proposed west and east pits. In particular, the existing geological model appears to broadly predict the location of gold mineralization with local adjustments to the model where mineralization is either not in the exact positions predicted by the model or if no mineralization is intersected. Significantly, the drill program continues to intersect additional gold mineralization in areas where mineralization was previously unknown or predicted. This occurs either in under-drilled areas or near historic drilling which were more selectively sampled. Mineralized solids will be adjusted where necessary to account for local variations in the model, and any impact due to additional assay data gathered during the drill program will be investigated during the forthcoming Mineral Resource Estimate planned during H2 2025.
Figure 1: Plan map showing the location of diamond drill holes BR-25-551 to 558, 561, 563 and 565 along with highlights assays in the proposed East Pit, Goldboro Gold Deposit
Figure 2: Plan map showing the location of diamond drill holes BR-25-559, 562 and 564 along with highlights assays in the proposed West Pit, Goldboro Gold Deposit
IBF4
