NexGold Mining Completes Name Change and Consolidation

Press Release

TORONTO, July 9, 2024 – NexGold Mining Corp. (TSXV: NEXG; OTCQX: TSRMF) (“NexGold” or the “Company”) is pleased to announce that effective as of today, the Company has changed its name from “Treasury Metals Inc.” to “NexGold Mining Corp.” and completed a consolidation of the Company’s issued and outstanding shares (“Shares”) on the basis of one post-consolidation Share for every four pre-consolidation Shares (the “Consolidation”). The Shares will be trading under the symbol “NEXG” on the TSX Venture Exchange (“TSXV”) effective as of market open on July 10, 2024.

Morgan Lekstrom, President of NexGold, commented “We believe the name NexGold Mining Corp. will resonate well with shareholders, current and future, as a growth-oriented gold company focused on near term production projects. The advancement of the Goliath Gold Complex is one step in building the vision of a multi-asset gold producer, along with assembling a team of expert mine builders, financiers and long-term supportive shareholders. Momentum and ability to execute place NexGold in a strong position to create long-term shareholder value.”

As a result of the Consolidation, the number of issued and outstanding Shares will be reduced from 304,410,407 to approximately 76,102,374, subject to adjustment for rounding. The Consolidation was conditionally approved by the TSXV and the Shares are expected to begin trading on a post-Consolidation basis on the TSXV when markets open on or about July 10, 2024.

In addition, the Company announces that in connection with its previously announced transaction with Blackwolf Copper and Gold Ltd., it has paid a success fee in connection with advisory services to Haywood Securities Inc. Part of this fee was satisfied by the issuance of 1,236,400 pre-consolidation Shares at a deemed price of $0.2022 per pre-consolidation Share. The issuance of these Shares remains subject to the approval of the TSXV and the Shares are subject to a four month and one-day hold period in accordance with Canadian securities laws.

About NexGold Mining Corp.

NexGold Mining Corp. is a gold-focused company with assets in Canada. NexGold’s Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) is located in Northwestern Ontario. For information on the Goliath Gold Complex, refer to the technical report, prepared in accordance with NI 43101, entitled “Goliath Gold Complex – NI 43101 Technical Report and Prefeasibility Study” and dated March 27, 2023 with an effective date of February 22, 2023, led by independent consultants Ausenco Engineering Canada Inc. The technical report is available on SEDAR+ at www.sedarplus.ca, on the OTCQX at www.otcmarkets.com and on the Company website at www.nexgold.com.

The Company also owns several other projects throughout Canada, including the Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration property Gold Rock. In addition, NexGold holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska, as well as five Hyder Area gold-silver and base metal properties in southeast Alaska. NexGold is committed to inclusive, informed and meaningful dialogue with regional communities and Indigenous Nations throughout the life of all our Projects and on all aspects, including creating sustainable economic opportunities, providing safe workplaces, enhancing of social value, and promoting community well-being. For further details about NexGold, please visit the Company’s website at www.nexgold.com.

Contact:

Morgan Lekstrom
President

Orin Baranowsky
CFO

NexGold Mining Corp.
T: +1 416-214-4654; Toll-free: +1-855-664-4654
Email: ir@nexgold.com

IBF4