NexGold Achieves Critical Permitting Milestone; Receives Final Federal Approval for the Goldboro Gold Project

TORONTO, Nov. 04, 2025 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to announce that the Fisheries Act Authorizations (the “FAAs”) for the construction and operation of the Goldboro Gold Project have been granted by Fisheries and Oceans Canada (“DFO”). The FAAs are the final federal authorizations for the Goldboro Gold Project, as well as the last major permits required prior to the commencement of construction and future operations. NexGold received its Industrial Approval, which was the last key provincial permit, from the government of Nova Scotia, in August 2025.

The FAAs, issued pursuant to Paragraphs 34.4(2)(b) and 35(2)(b) of the Fisheries Act, are an integral step towards the development of the Goldboro Gold Project and outline the stringent terms and conditions which allow the Company to construct and operate the Goldboro Gold Project. The FAAs also reaffirm the Company’s commitment to ongoing engagement with the Mi’kmaq of Nova Scotia, including opportunities to participate in offsetting projects. The Company initially applied for the FAAs in August 2023 and received notice in December 2023 from the DFO that its application for the FAAs was deemed complete. Consultation was initiated in early 2024 and was active and ongoing throughout 2024 and 2025.

Kevin Bullock, President and CEO of NexGold, commented: “We are extremely pleased to have received our FAAs for the Goldboro Gold Project. Having received our Industrial Approval from the government of Nova Scotia in August, the receipt of the FAAs announced today provides NexGold with the last key permits required to advance towards construction and operations. I am very proud of the hard work by the NexGold team in achieving this successful outcome for the advancement of the Goldboro Gold Project.”

About NexGold Mining Corp.

NexGold is a gold-focused company with assets in Canada and Alaska. NexGold’s Goldboro Gold Project is located in Nova Scotia. The Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) is located in Northwestern Ontario. NexGold 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. 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 wellbeing.

Further details about NexGold, including the Feasibility Study for the Goldboro Gold Project and the 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 or incorporates by reference “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of applicable U.S. securities laws. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking information including, but not limited to the Company’s strategic objectives and plans and statements on future prospects for development of the Goldboro Gold Project. Generally, forward-looking information is characterized by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “is projected”, “anticipates” or “does not anticipate”, “believes”, “targets”, or variations of such words and phrases. Forward-looking information may also be identified in statements where certain actions, events or results “may”, “could”, “should”, “would”, “might”, “will be taken”, “occur” or “be achieved”.

Forward-looking information involve known or unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from those projected by such forward-looking statements. Such factors, risks and uncertainties include, among others: ability to timely receive requisite regulatory approvals, reliance on third-parties, including contractors, local communities and governmental entities, for development and mining activities; the ability of the Company to obtain required approvals; and those factors described in the Company’s Management Discussion and Analysis for the year ended December 31, 2024 and in the Company’s most recent disclosure documents filed under the Company’s SEDAR+ profile at www.sedarplus.ca. 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 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.

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