NexGold Announces Closing of C$10 Million Private Placement of Flow-Through Shares

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TORONTO, June 29, 2026 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to announce that it has closed a private placement pursuant to which NexGold issued 6,060,600 flow-through shares (the “FT Shares”) at a price of C$1.65 per FT Share for aggregate gross proceeds of C$10 million (the “Offering”).

An amount equal to the aggregate gross proceeds from the sale of the FT Shares will be used to incur, on or before December 31, 2027, “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” (each term within the meaning of the Income Tax Act (Canada) (the “Tax Act”)).

The securities issued pursuant to the Offering will be subject to a four-month-plus-one-day hold period expiring on October 27, 2026, under applicable Canadian securities laws. No finder’s fees or commissions were paid in connection with the Offering.

Kevin Bullock, President, CEO and Director of NexGold, commented “We are pleased to announce the closing of this flow-through financing to support continued exploration at our Goldboro and Goliath properties. This financing was placed with two of our long-term, long only, institutional shareholders and will focus on mineral resource expansion potential on our significant property packages.”

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 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 statements regarding the Offering, including the intended use of proceeds and future plans at the Goldboro and Goliath properties. 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: the use of proceeds of the Offering being applied differently than anticipated, 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; the ability of the Company to incur in full or at all “Canadian exploration expenses” that qualify as flow-through mining expenditures” and the renunciation thereof to the purchasers of the FT Shares and the timing thereof; the tax treatments of the FT Shares; and those factors described 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.

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.

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