NexGold Reports Additional Broad, High-Grade Gold, Drill Intercepts at Goldlund, Supporting Mineral Resource Continuity and Expansion Potential
Press Release
TORONTO, May 19, 2026 — NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to provide additional positive results from the ongoing diamond drilling program at the Company’s Goliath Gold Complex in northwestern Ontario, which includes the Goliath, Goldlund, and Miller Deposits. The drill program, of which approximately 19,000 metres have been completed of the planned 25,000 metres, is focused on infilling and potentially expanding open pit Mineral Resources at the Goldlund Deposit. The results presented in this news release include 5,816 metres of diamond drilling in 14 drill holes (GL-26-006 to GL-26-008 and GL-26-010 to GL-26-019B). These drill holes infill and expand mineralization in Zone 4 of the Goldlund Deposit from near the centre to the northeastern end of the open pit Mineral Resource (Figures 1, 2 and 3; Tables 1 and 2).
Selected intercepts from diamond drill holes at the Goldlund Deposit in this news release are further detailed in Table 1 and include:
- 15.21 g/t gold over 20.1 metres (from 386.2 to 406.3 metres), including 497.00 g/t gold over 0.5 metres and 50.10 g/t gold over 1.0 metre, in drill hole GL-26-007; additionally, 3.55 g/t gold over 6.0 metres (from 370.0 to 376.0 metres), including 8.98 g/t gold over 1.0 metre, 5.39 g/t gold over 1.0 metre, and 4.50 g/t gold over 1.0 metres was intersected in the same hole;
- 5.11 g/t gold over 21.8 metres (from 351.6 to 373.4 metres), including 159.00 g/t gold over 0.5 metres and 13.40 g/t gold over 0.6 metres in drill hole GL-26-014;
- 4.51 g/t gold over 21.9 metres (from 244.5 to 266.4 metres), including 134.00 g/t gold over 0.6 metres, 10.40 g/t gold over 1.0 metre, and 6.76 g/t gold over 0.5 metres in drill hole GL-26-012;
- 2.12 g/t gold over 16.0 metres (from 379.0 to 395.0 metres), including 27.30 g/t gold over 1.0 metres in drill hole GL-26-016; and
- 1.34 g/t gold over 30.0 metres (from 258.0 to 288.0 metres), including 13.13 g/t gold over 0.7 metres and 7.38 g/t gold over 0.9 metres in drill hole GL-26-011.
These drill results are in the same general area of Zone 4 mineralization where previously reported drill intersections were announced (see NexGold news release dated February 2, 2026) and included:
- 3.31 g/t gold over 20.0 metres (from 279.0 to 299.0 metres), including 71.69 g/t gold over 0.7 metres and 3.89 g/t gold over 1.0 metre in drill hole GL-25-003; and
- 7.59 g/t gold over 9.0 metres (from 345.5 to 354.5 metres), including 104.00 g/t gold over 0.5 metres and 5.64 g/t gold over 1.0 metres in drill hole GL-25-002.
Kevin Bullock, President and CEO of NexGold, commented: Our infill drilling program at the Goliath Gold Complex (Goldlund Deposit) continues to deliver positive results, supporting the interpretation of mineralized continuity within Zone 4, including at depths approaching the base of the current open pit Mineral Resource. The Goliath Gold Complex represents an important pipeline project for NexGold to look to develop following the successful construction of our Goldboro Gold Project in Nova Scotia. The results to date at Goldlund are expected to contribute valuable data to support the potential upgrading of Mineral Resource classifications at the Goldlund Deposit and to inform ongoing mine planning and optimization studies for the Goliath Gold Complex. The drill program is ongoing, with more than 75% of the planned work completed, and we look forward to updating the market with additional results.”
Mineralization at the Goldlund Deposit is generally characterized by quartz stockwork veining within sub-vertical granodiorite sills. Zone 4 at the Goldlund Deposit includes broad intervals of mineralized intermediate-mafic volcanic rocks with multiple porphyry and granodiorite intrusions. The drill results summarized in this news release, together with previously announced drill results, provide additional support and information relevant to the interpretation of grade continuity within Zone 4. These results are expected to contribute to ongoing refinement of the geological model and may support future evaluation of Mineral Resource classification, subject to additional drilling, data verification, and completion of further technical studies.
Drill holes designed throughout this program have been distributed across the strike of Zone 4 with holes highlighted in this release located toward the northeast end of the zone. Mineralization found in these holes show the continuity down dip and along strike to previously reported drill holes GL-25-003 and GL-25-002, which intersected 3.31 g/t gold over 20.0 metres and 7.59 g/t gold over 9.0 metres respectively (see NexGold news release dated February 2, 2026). Gold intersected in these holes further demonstrates the continuity of mineralization and the potential for Mineral Resource expansion in Zone 4 as additional targets are drilled along strike and down dip.
Figure 1: Plan map showing the location of the Goldlund Zone 4 infill drill holes.
Figure 2: Cross-section through the Goldlund Deposit, showing the location of the drill holes (GL-26-006, GL-26-007, GL-26-010, GL-26-012 and GL-26-013) reported in this news release (red cylinders show highlighted intervals).
Figure 3: Cross-section through the Goldlund Deposit, showing the location of the drill holes (GL-26-010, GL-26-011, GL-26-013, GL-26-014, GL-26-016, and GL-26-018) reported in this news release (red cylinders show highlighted intervals).
Table 1: Highlighted drill intercepts from drill holes in this news release.
| Drill Hole ID | Target/Zone | From (m) | To (m) | Interval (m) | Au g/t |
| GL-26-006 | Zone 4 | 318.0 | 321.0 | 3.0 | 3.20 |
| including | 320.0 | 321.0 | 1.0 | 9.25 | |
| and | Zone 4 | 356.9 | 363.6 | 6.7 | 1.19 |
| including | 359.2 | 360.0 | 0.8 | 3.62 | |
| and including | 361.5 | 362.0 | 0.5 | 5.78 | |
| GL-26-007 | Zone 4 | 370.0 | 376.0 | 6.0 | 3.55 |
| including | 371.0 | 372.0 | 1.0 | 4.50 | |
| and including | 372.0 | 373.0 | 1.0 | 8.98 | |
| and including | 375.0 | 376.0 | 1.0 | 5.39 | |
| and | Zone 4 | 386.2 | 406.3 | 20.1 | 15.21 |
| including | 394.0 | 394.5 | 0.5 | 497.00 | |
| and including | 405.3 | 406.3 | 1.0 | 50.10 | |
| GL-26-008 | Zone 4 | 354.0 | 363.0 | 9.0 | 4.67 |
| including | 354.6 | 355.5 | 0.9 | 38.35 | |
| and | Zone 4 | 373.0 | 379.0 | 6.0 | 1.56 |
| including | 377.0 | 378.0 | 1.0 | 6.89 | |
| GL-26-010 | Zone 4 | 181.3 | 199.5 | 18.2 | 1.83 |
| including | 181.3 | 181.9 | 0.6 | 23.30 | |
| and including | 182.5 | 183.5 | 1.0 | 4.86 | |
| and | Zone 4 | 211.2 | 219.0 | 7.8 | 4.67 |
| including | 215.0 | 216.0 | 1.0 | 31.1 | |
| GL-26-011 | Zone 4 | 258.0 | 288.0 | 30.0 | 1.34 |
| including | 272.1 | 272.8 | 0.7 | 13.13 | |
| and including | 283.7 | 284.6 | 0.9 | 7.38 | |
| GL-26-012 | Zone 4 | 228.3 | 231.1 | 2.8 | 3.40 |
| including | 228.3 | 230.0 | 1.7 | 4.84 | |
| and | Zone 4 | 244.5 | 266.4 | 21.9 | 4.51 |
| including | 251.5 | 252.5 | 1.0 | 10.40 | |
| and including | 252.5 | 253.0 | 0.5 | 6.76 | |
| and including | 265.2 | 265.8 | 0.6 | 134.00 | |
| GL-26-013 | Zone 4 | 275.0 | 276.0 | 1.0 | 33.60 |
| and | Zone 4 | 294.0 | 295.0 | 1.0 | 7.87 |
| and | Zone 4 | 300.3 | 315.5 | 15.2 | 1.41 |
| including | 301.3 | 302.1 | 0.8 | 13.05 | |
| and including | 302.1 | 302.6 | 0.5 | 4.73 | |
| and | Zone 4 | 328.5 | 330.0 | 1.5 | 6.53 |
| including | 329.1 | 330.0 | 0.9 | 10.50 | |
| GL-26-014 | Zone 4 | 351.6 | 373.4 | 21.8 | 5.11 |
| including | 351.6 | 352.2 | 0.6 | 13.4 | |
| and including | 373.0 | 373.5 | 0.5 | 159.0 | |
| GL-26-015 | Zone 4 | 328.5 | 339.9 | 11.4 | 2.00 |
| including | 329.5 | 330.5 | 1.0 | 4.25 | |
| and including | 336.5 | 337.1 | 0.6 | 4.35 | |
| and | Zone 4 | 357.0 | 363.0 | 6.0 | 1.75 |
| including | 362.0 | 363.0 | 1.0 | 6.99 | |
| GL-26-016 | Zone 4 | 379.0 | 395.0 | 16.0 | 2.12 |
| including | 385.0 | 386.0 | 1.0 | 27.30 | |
| GL-26-017 | Zone 4 | 331.0 | 335.0 | 4.0 | 1.07 |
| including | 332.0 | 333.0 | 1.0 | 2.18 | |
| GL-26-018 | Zone 20 | 19.0 | 33.0 | 14.0 | 0.63 |
| including | 31.5 | 33.0 | 1.5 | 1.74 | |
| and | Zone 4 | 272.6 | 297.7 | 25.1 | 1.00 |
| including | 288.8 | 289.5 | 0.7 | 3.70 | |
| and | Zone 4 | 310.9 | 311.4 | 0.5 | 31.60 |
| GL-26-019 | Zone 20 | 116.0 | 125.0 | 9.0 | 0.67 |
| including | 116.0 | 116.7 | 0.7 | 3.39 | |
| GL-26-019B | Zone 20 | 112.5 | 123.0 | 10.5 | 0.43 |
| including | 122.0 | 123.0 | 1.0 | 2.46 | |
| and | Zone 4 | 346.6 | 352.8 | 6.2 | 0.95 |
| including | 352.0 | 352.8 | 0.8 | 4.47 |
Notes:
- Reported intervals are drilled core lengths and do not indicate true widths. True widths vary from 50 to 75% of the interval length.
- For duplicate samples, an average was used to calculate the intersection grade. All grades are uncapped.
- Drill holes GL-25-001 to 019, GL-26-001 to 005 and GL-26-009 were reported in previous news releases dated February 2, February 25, April 10 and May 6, 2026.
Table 2: Locations and orientations of drill holes in the news release.
| Drill Hole ID | Easting | Northing | Elevation (m) | Length (m) | Azimuth | Inclination |
| GL-26-006 | 547102 | 5527917 | 412 | 465 | 131 | -45 |
| GL-26-007 | 547102 | 5527917 | 412 | 501 | 129 | -50 |
| GL-26-008 | 547102 | 5527917 | 412 | 501 | 139 | -50 |
| GL-26-010 | 547281 | 5527828 | 422 | 276 | 120 | -45 |
| GL-26-011 | 547265 | 5527869 | 422 | 375 | 118 | -49 |
| GL-26-012 | 547199 | 5527827 | 424 | 375 | 122 | -52 |
| GL-26-013 | 547220 | 5527920 | 417 | 402 | 125 | -48 |
| GL-26-014 | 547220 | 5527920 | 417 | 426 | 121 | -56 |
| GL-26-015 | 547240 | 5527920 | 421 | 450 | 118 | -48 |
| GL-26-016 | 547240 | 5527920 | 421 | 507 | 115 | -54 |
| GL-26-017 | 547300 | 5527900 | 421 | 477 | 116 | -55 |
| GL-26-018 | 547300 | 5527900 | 421 | 402 | 118 | -49 |
| GL-26-019 | 547305 | 5527940 | 421 | 219 | 118 | -49 |
| GL-26-019B | 547305 | 5527940 | 421 | 440 | 118 | -49 |
Note: Drill hole locations reported as Universal Transverse Mercator NAD83 Zone 15N coordinates
The Company has implemented a quality assurance and quality control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the CIM Exploration Best Practices Guidelines. The drill core is sawed in half with one-half of the core sample dispatched to Activation Laboratories Ltd. facility located in Dryden, Ontario. The other half of the core is retained for future assay verification and/or metallurgical testing. Other QA/QC procedures include the insertion of blanks and Canadian Reference Standards for every tenth sample in the sample stream. A quarter core duplicate is assayed every 20th sample. The laboratory has its own QA/QC protocols, running standards and blanks with duplicate samples in each batch stream. Additional checks are routinely run on anomalous values including gravimetric analysis and pulp metallic screen fire assays. Gold analysis is conducted by lead collection, fire assay with atomic absorption, and/or gravimetric finish on a 50-gram sample. Check assays are conducted at a secondary ISO certified laboratory (in this case AGAT Laboratories located in Mississauga, Ontario) following the completion of a program.
Qualified Person
Paul McNeill, P.Geo., VP Exploration of NexGold, is a “Qualified Person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical disclosure contained in this news release on behalf of NexGold.
About NexGold Mining Corp.
NexGold is a gold-focused company with assets in Canada and Alaska, including the Goldboro Gold Project in Nova Scotia, the Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) in Northwestern Ontario, and additional exploration projects across Canada. NexGold also holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project in southeast Alaska. NexGold is committed to ongoing, meaningful engagement with regional communities and Indigenous Nations to support sustainable development, safe operations, and shared economic and social benefits.
Further details about NexGold, including a Feasibility Study for the Goldboro Gold Project and a Prefeasibility Study for the Goliath Gold Complex, are available under the Company’s issuer profile on www.sedarplus.ca and on NexGold’s website at www.nexgold.com.
Contact:
Greg DiTomaso
Investor Relations
+1 (647) 547-5357
gditomaso@nexgold.com
IBF4
