NexGold intercepts 3.08 g/t over 17.0 m, 4.80 g/t over 5.6 m, 84.30 g/t over 1.0 m at Goldlund

TORONTO, Aug. 25, 2026 (GLOBE NEWSWIRE) -- NexGold Mining Corp. ( TSXV: NEXG; OTCQX: NXGCF) (“ NexGold ” or the “ Company ”) is pleased to provide additional results from the diamond drilling program at the Company’s Goliath Gold Complex, which includes the Goliath, Goldlund and Miller Deposits. The results presented in this news release include 4,686 metres of diamond drilling in 11 drill holes (GL‑26‑020 to GL-26-030B). These drill holes were designed to infill and test the extension of mineralization within Zone 4 of the Goldlund Deposit near the northeastern part of the open pit Mineral Resource ( Figures 1, 2 and 3; Tables 1 and 2 ).

The Company’s initial 25,000-metre drill program has now been completed. Based on the results received to date and the continued exploration potential identified within and adjacent to the current open pit Mineral Resource, the Company has elected to expand the drill program to approximately 35,000 metres. The additional drilling is intended to further evaluate the continuity and distribution of mineralization and may support future Mineral Resource studies.

Selected drill intersections from diamond drill holes at the Goldlund Deposit in this news release are further detailed in Table 1 and include:

84.30 g/t gold over 1.0 metres (from 287.0 to 288.0 metres) in drill hole GL-26-022 ; additionally, 1.14 g/t gold over 6.5 metres (from 334.0 to 340.5 metres), including 3.85 g/t over 1.0 metres, and 1.04 g/t gold over 7.5 metres (from 351.5 to 359.0 metres), including 3.68 g/t gold over 1.0 metres in the same hole;

3.08 g/t gold over 17.0 metres (from 426.5 to 443.5 metres), including 70.20 g/t gold over 0.5 metres, and 12.60 g/t gold over 0.5 metres in drill hole GL-26-026 ;

4.80 g/t gold over 5.6 metres (from 388.5 to 394.1 metres), including 16.30 g/t gold over 0.9 metres and 6.09 g/t gold over 1.0 metre, in drill hole GL-26-025 ; additionally, 1.46 g/t gold over 7.3 metres (from 375.5 to 382.8 metres), including 3.54 g/t gold over 0.7 metres in the same hole;

1.85 g/t gold over 12.5 metres (from 262.5 to 275.0 metres), including 9.17 g/t gold over 1.0 metres, 7.88 g/t gold over 0.8 metres, and 4.55 g/t gold over 0.9 metres in drill hole GL-26-020 ; additionally, 0.70 g/t gold over 17.1 metres (from 15.9 to 33.0 metres), including 9.51 g/t gold over 0.5 metres in the same hole;

1.44 g/t gold over 15.3 metres (from 300.7 to 316.0 metres), including 7.69 g/t gold over 1.0 metres in drill hole GL-26-021 ; and

1.24 g/t gold over 16.4 metres (from 428.1 to 444.5 metres), including 5.51 g/t gold over 1.0 metres and 3.58 g/t gold over 0.6 metres in drill hole GL-26-024 .

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 0.8 metres and 3.89 g/t gold over 1.0 metres 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 g/t gold over 0.50 metres and 5.64 g/t gold over 1.0 metres in drill hole GL-25-002 ; additionally, 1.87 g/t gold over 10.9 metres (from 362.0 to 372.9 metres), including 4.68 g/t gold over 1.0 metres and 9.49 g/t gold over 1.0 metres in the same hole.

Kevin Bullock, President, CEO & Director of NexGold, commented: “The latest results coming from our diamond drilling program at the Goldlund Deposit continue to demonstrate continuity of mineralization within Zone 4 and provide geological and grade information at depth. The objectives of the program are to further evaluate the continuity and distribution of mineralization and to improve our understanding of the deeper portions of the Goldlund Deposit.

“The results received to date provide information that may be considered in future Mineral Resource evaluations and have the potential to support future updates to Mineral Resource classifications at the Goldlund Deposit. Based on the results received to date and the remaining exploration potential within the deposit, we have elected to expand the current program by an additional 10,000 metres of diamond drilling, with work expected to continue through the fall of 2026.

“While we remain focused on advancing the Goldboro Project in Nova Scotia and completing the updated Feasibility Study, we are encouraged by the information generated from the Goldlund drilling program. The results are expected to be incorporated into future Mineral Resource evaluations and support additional technical studies as the Company continues to assess development opportunities across the Goliath Gold Complex.”

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 completed as part of this program have been distributed across the strike extent of Zone 4, with the holes highlighted in this news release located near the northeastern portion of the zone. These new holes are situated near previously reported drill holes GL-25-002 and GL-25-003, which intersected 7.59 g/t gold over 9.0 metres and 3.31 g/t gold over 20.0 metres, respectively (see NexGold news release dated February 2, 2026). The results continue to support the Company’s geological interpretation of mineralization within Zone 4 and provide additional information regarding the continuity of mineralization between drill sections. Additional drilling is planned to further evaluate mineralization along strike and down dip and to inform Mineral Resource assessments.

Figure 1: Plan map showing the location of the Goldlund Zone 4 infill drill holes.

Figure 2: A cross-section through the Goldlund Deposit showing the location of the drill holes (GL-26-022 to GL-26-027B) reported in this news release.

Figure 3: A cross-section through the Goldlund Deposit showing the location of the drill holes (GL-26-020, GL-26-021, GL-26-028, and GL-26-029) -reported in this news release.

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, the average grade was used to calculate the intersection grade. All grades are uncapped.

Note: Drill hole locations reported as Universal Transverse Mercator NAD83 Zone 15N coordinates

QA / QC

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 20 th 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 the available data, composites and QA/QC information related to the drill program 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 .

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Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of applicable U.S. securities laws (collectively, “forward-looking information”). Forward-looking information relates to future events or future performance and reflects management’s expectations and assumptions as of the date of this news release. Forward-looking information contained in this news release includes, but is not limited: the Company’s exploration plans and objectives ns; the timing, scope and results of current and future drilling programs; the potential for future Mineral Resource updates or changes to Mineral Resource classifications; interpretations regarding the continuity, extent and distribution of mineralization; the completion of technical studies, , including the updated Goldboro feasibility study; the advancement of the Company’s projects; and other statements that are not historical facts.

Forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “projects”, “anticipates”, “believes”, “targets”, “potential”, “may”, “could”, “should”, “would”, “will” and similar expressions.

Forward-looking information is based on a number of assumptions and is subject to known or unknown risks, uncertainties and other factors, that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: the risk that exploration activities, including drilling, may not accurately predict the continuity, grade or extent of mineralization; the possibility that future drilling results may not support the conversion of Mineral Resources to higher confidence categories or result in changes to existing Mineral Resource estimates; risks related to the interpretation of exploration results; the ability of the Company to complete planned exploration, development and technical programs; the availability of financing; the receipt of required permits, approvals and authorizations; delays in exploration, development or construction activities; fluctuations in commodity prices, exchange rates and market conditions; environmental, Indigenous, community, permitting and regulatory risks; health and safety risks; and the other risks described in the Company's public disclosure documents, including its Management's Discussion and Analysis for the year ended December 31, 2025, available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Although the Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable, there can be no assurance that such information will prove to be accurate, as actual results and future events may differ materially from those anticipated. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is provided to assist investors in understanding the Company's current expectations, plans and objectives and may not be appropriate for other purposes. The Company undertakes no obligation to update or revise any forward-looking information, except as required by applicable securities laws.

Although management of the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented to assist shareholders in understanding the Company’s the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Figures accompanying this announcement is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/7a06ce7b-56df-4f66-b144-f8f12f40d200

https://www.globenewswire.com/NewsRoom/AttachmentNg/e0e1c301-9912-4202-8064-a314d7732497

https://www.globenewswire.com/NewsRoom/AttachmentNg/d1ea0e72-364d-4c5d-af14-34bee51cdfa3

GlobeNewswire

August 25, 2026 - 4:00 AM PDT

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