NexGold Mining drills 50.81 g/t gold over 6.3 metres, including 635 g/t gold over 0.5 metres at C Zone East, Goliath Gold Complex, Ontario

NexGold Mining Corp. [TSXV: NEXG; OTCQX: NXGCF] provide high-grade results from the C Zone East, including the results for the previously announced visible gold intersection located below the current mineral resource on the eastern end of the C Zone at the Goliath deposit at the Goliath Gold Complex, Ontario, and is also pleased to provide results from the initial Interlakes drill program.

Highlights: Visible Gold core sample from TL24-678 returned 117.95 g/t gold over 2.70 metres including 635 g/t Au over 0.5 metres at 607 metres depth down hole, which was within a wider interval of 6.30 metres grading 50.81 g/t Au.

TL24-681 intersected 3.43 g/t Au over 2.20 metres including 13.30 g/t Au over 0.5 metres and 1.57 g/t Au over 2.52 metres including 4.64 g/t Au over 0.72 metres approximately 50 metres down dip of TL24-678, showing the continuation of C Zone gold mineralization and alteration.

Interlakes showing results of Orogenic-style gold mineralization hosted in quartz veins in initial drilling campaign, intersecting 2.03 g/t over 1.50 metres in hole IL-24-09 and 2.23 g/t over 1.50 metres in hole IL-24-10.

Morgan Lekstrom, President of NexGold, commented: “Today, we have announced another example that the high-grade, down-dip potential of the Goliath deposit is just being scratched. Having the open pit capability at Goliath, along with additional high-grade hits in the underground, continues our belief that we are seeing a much larger system at play. Combine that with our recent work at Interlakes showing the mineralized trend extending beyond just Goldlund and Goliath, this helps us vector in on the next mineral resource on trend.”

Goliath Mineral Resource Expansion Drilling Program: This drilling is part of the 25,000-metre drill program initiated in August which has focused on opportunities for growth, expansion and discoveries within the project’s 65-km strike and 330-km² property package. A total of 4,090 metres across six drillholes was completed on the Goliath property, which targeted the down-dip extension of the C Zone on the eastern end of the deposit area.

The intersection containing the visible gold found in drillhole TL24-678 and previously announced in company news release dated October 28, 2024 returned 117.95 g/t gold over 2.70 metres (within a wider interval of 6.30 metres grading 50.81 g/t Au) including 635 g/t Au over 0.5 metres, which was encountered approximately 70 metres down dip of previously-released hole TL20-520 which intersected 1.35 g/t Au over 14.7 metres, including 6.00 g/t Au over 2.0 metres and 15 metres further down the hole, 65.2 g/t Au over 3.0 metres including 193 g/t Au over 1.0 metres.

An additional hole, TL24-681, was drilled approximately 50 metres down dip to further investigate the extent of mineralization. While no visible gold was identified in core, significant gold intercepts were found in the C Zone, returning 3.43 g/t over 2.20 metres including 13.30 g/t over 0.50 metres and 1.57 g/t over 2.52 metres including 4.64 g/t over 0.72 metres.

All six holes drilled in this area intersected the C Zone and confirms its continuation down dip. Other notable intercepts include: 1.42 g/t Au over 3.26 metres including 4.04 g/t Au over 1.00 metres in TL24-676A; 7.77 g/t Au over 0.53 metres and 0.86 g/t Au over 10.00 metres including 4.84 g/t Au over 1.00 metres in TL24-677; 0.44 g/t Au over 10.49 metres in TL24-679, and 0.55 g/t Au over 6.55 metres including 1.48 g/t Au over 1.00 metres in TL24-680.

Interlakes Drill Program Update: The company has completed the Interlakes drill program with a total of 4,550 metres in 13 drillholes. These drillholes investigated several potential targets identified in recent desktop studies and reconnaissance traverses. These targets included testing potential Goldlund-style intrusions, significant local and regional structures, and along-strike trends to historical field samples.

Gold was intersected in two drillholes located in the northern area of Interlakes, which was hosted in quartz veins and associated with pyrite mineralization. Hole IL-24-10 intersected 2.23 g/t gold over 1.50 metres and hole IL-24-09 intersected 2.03 g/t Au over 1.50 metres. This data will be integrated into the geological model of the area and analyzed to understand the orientation and controlling features of this mineralization for future targeting.

Next Drill Target – Far East: Following the C Zone East drilling at the Goliath deposit, the drill was mobilized to the Far East target located on the northeastern side of the Goliath claim package. Drillholes have been designed to test the down-dip potential of the Goliath-style target which mineralization has been previously identified over a strike length of 400 metres, and to an approximate depth of 200 metres. These holes will also test the potential for higher-grade shoots within these mineralized zones.

NexGold’s Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) is located in northwestern Ontario and benefit substantially from excellent access to the Trans-Canada Highway, related power and rail infrastructure and close proximity to several communities including Dryden, Ontario.