NexGold Reports Q3 2026 Financial and Operating Results

TORONTO, Nov. 13, 2026 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) announced its financial and operating results for the three and nine months ended September 30, 2026. The third quarter of 2026 was highlighted by continued advancement of the Goldboro Gold Project (“Goldboro”) in Nova Scotia and the Goliath Gold Complex (“Goliath Complex”) in Ontario, which included commencement of early works construction activities at Goldboro, ongoing drilling programs at both projects, and progress toward an updated Goldboro Feasibility Study, expected in Q4 2026.

The Company’s condensed consolidated interim financial statements and related management’s discussion and analysis (“MD&A”) for the three and nine months ended September 30, 2026, are available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.nexgold.com. Unless otherwise indicated, all dollar amounts are expressed in Canadian dollars.

Kevin Bullock, President, CEO and Director of NexGold, commented: “NexGold made significant progress in advancing both of its cornerstone development projects in the third quarter of 2026. We continued to work on completing our updated Feasibility Study for Goldboro, which is on track for completion this quarter, while simultaneously advancing several key development workstreams intended to support project evaluation and decision-making. We also commenced early works construction activities at Goldboro, an important milestone as we continue to assess the project in advance of a potential final investment decision by the NexGold Board, expected later this year. On the exploration front, I am pleased to report that we completed our reverse circulation infill drill program shortly after quarter end, with results supporting the program’s objective of improving geological confidence in areas contemplated during the initial years of the current mine plan.

“At the Goliath Complex, ongoing infill and extension drilling at the Goldlund Deposit continued to support the Company’s interpretation of grade continuity at depth and contributed to ongoing evaluation of the deposit as part of future mine planning and technical studies. We are also advancing project optimization initiatives, technical studies, environmental baseline work, permitting activities, and ongoing engagement with local communities and First Nations.

“Following a productive third quarter marked by continued advancement across our development and exploration portfolio, we remain focused on delivering several key milestones before year-end, including completion of the updated Goldboro Feasibility Study, continued evaluation of a potential Goldboro construction decision, and the release of additional drill results from both projects. We believe these activities will provide important information to support the ongoing advancement of our projects and the Company's long-term objective of becoming a Canadian gold producer.”

Third Quarter 2026 and Recent Highlights

Financial

• At September 30, 2026, the Company had cash and short-term investments of $85.4 million, compared to $101.1 million at June 30, 2026. The Company reported a net loss of $17.4 million, or $0.07 per share, for the three months ended September 30, 2026, compared to a net loss of $16.0 million, or $0.06 per share, for the three months ended June 30, 2026. The increase in net loss during the quarter was primarily attributable to exploration expenditures and project development activities, as discussed in the Company’s third quarter financial statements and MD&A.
  

Project Highlights

• The Company continued to advance a range of key development activities at Goldboro during the third quarter of 2026 to support ongoing project evaluation and inform a potential future construction decision including:

• • commencement of early works construction activities intended to de-risk the potential commencement of full-scale construction, if approved by the Company’s Board of Directors;
  • advanced work on the updated Goldboro Feasibility Study, including the completion of work supporting an updated open pit Mineral Resource Estimate to be included in the updated Goldboro Feasibility Study, progression of capital and operating cost estimates, and ongoing technical, engineering, and risk assessment activities;
  • further expanding the Owner’s Project Team through the recruitment and onboarding of additional personnel to support technical evaluation, project planning and oversight;
  • completion of geological modelling activities, including the completion of wireframe and block models, to support an updated Mineral Resource Estimate;
  • advancing mine plan development activities;
  • ongoing engagement with Nova Scotia Power regarding long-term power supply options;
  • completion of the geotechnical investigation drilling program to support geotechnical assessments related to mine infrastructure, pit slopes, foundations and tailings facilities;
  • preparation and issuance of preliminary procurement packages for mechanical and electrical equipment;
  • advancing procurement activities for selected long-lead equipment; and
  • continued development of preliminary project execution materials, including draft schedules, management plans, procedures and contract documentation, to support the evaluation of potential construction and project execution strategies.
    

Exploration Highlights

• The Company continued its infill and expansion drill program at the Goliath Complex, focused on the Goldlund Deposit. During the third quarter of 2026, the Company completed 9,104 metres in 21 drill holes, bringing the total completed since the program commenced to 32,887 metres. Subsequent to the quarter, the Company expanded the program to 37,000 metres;

• Selected drill intercepts from the infill and expansion drill program include: 14.07 g/t gold over 7.0 metres (from 187.0 to 194.0 metres), including 95.70 g/t gold over 1.0 metres in drill hole GL-26-034; 1.35 g/t gold over 38.9 metres (from 222.5 to 261.4 metres), including 52.80 g/t gold over 0.5 metres and 13.5 g/t gold over 1.0 metres in drill hole GL-026-042; 1.42 g/t gold over 27.2 metres (from 371.8 to 399.0 metres), including 14.60 g/t gold over 1.0 metres and 7.87 g/t gold over 1.2 metres in drill hole GL-26-052; 2.23 g/t gold over 15.5 metres (from 123.5 to 139.0 metres), including 40.50 g/t gold over 0.5 metres in drill hole GL-26-032; and 84.30 g/t gold over 1.0 metres (from 287.0 to 288.0 metres) in drill hole GL-26-022;
• The Company also continued its 40,000-metre reverse circulation infill drill program (“RC infill drill program”) at Goldboro during the third quarter of 2026, focused on areas contemplated in the initial years of the current mine plan that are accessible by drill rig. The program is intended to increase data density and improve geological confidence in these areas, which may support future Mineral Resource estimation and classification work. Subsequent to quarter-end, the Company announced that it had completed the RC infill drill program;
•  Based on the Company’s QA/QC protocols, comparison with historical drilling results, and ongoing geological interpretation, the results are considered consistent with the Company’s current understanding of the Goldboro Deposit, demonstrating grades and thickness comparable to those encountered in diamond drill intersections within the same area, which were previously drilled at wider spacing;
• Selected drill intercepts from the RC infill drill program from the third quarter of 2026 include: 5.26 g/t gold over 7.0 metres (from 41.0 to 48.0 metres), including 31.29 g/t gold over 1.0 metres (from 44.0 to 45.0 metres) in drill hole RC-26-226; 7.08 g/t gold over 5.0 metres (from 9.0 to 14.0 metres), including 25.11 g/t gold over 1.0 metres in drill hole RC-26-195; and 14.97 g/t gold over 2.0 metres (from 38.0 to 40.0 metres), including 29.62 g/t gold over 1.0 metres and 0.90 g/t gold over 11.0 metres (from 25.0 to 36.0 metres) in drill hole RC-26-163;
• The Company completed two geophysical surveys at Goldboro during the third quarter of 2026: a 2,496 line-kilometre airborne Versatile Time Domain Electromagnetic survey and a 2,656-line kilometre FALCON® fixed-wing airborne gravity gradiometer survey covering 32,007 hectares (approximately 320 km²) of prospective exploration land. The surveys are intended to assist in the development of additional exploration targets and characterize regional geological controls. Fieldwork has been completed, and the Company is currently interpreting the survey results.

Community Highlights

• At Goldboro, the Company continued to implement both the Mutual Benefits Agreement with the Assembly of Nova Scotia Mi’kmaw Chiefs and the Community Benefits Agreement with the Municipality of the District of Guysborough through a range of community engagement, Indigenous relations, and stakeholder outreach initiatives, including: being a major sponsor of the Nova Scotia Mi’kmaw Games and participating in the opening ceremonies; holding a quarterly Community Liaison Committee meeting in Goldboro; participating in events recognizing the National Day for Truth and Reconciliation; holding a virtual Implementation Committee meeting with Kwilmu’kw Maw-klusuaqn to provide a Project update and discuss shared priorities, including Mi’kmaq First priorities and advancement of the Mining Essentials program in Unama’ki; and hosting community appreciation events;
• At the Goliath Complex, the Company continued its engagement with the Wabigoon Lake Ojibway Nation, Lac Seul First Nation, Eagle Lake First Nation, and Lac des Mille Lacs First Nation, including providing updates on ongoing technical studies at the Goliath Complex and the advancement of activities related to the Goldboro Project.
  

Warrant Exercise Update and Signal Gold Warrant Expiry Reminder

NexGold is pleased to announce that, subsequent to the third quarter, certain holders exercised the remaining outstanding warrants expiring November 6, 2026 that were issued in connection with the Company’s November 6, 2024 flow-through private placement financing. Over the term of the warrants, an aggregate of 5,053,125 warrants were exercised, generating total gross proceeds of $5,305,781.25 for the Company.

NexGold would also like to remind holders of certain common share purchase warrants originally issued by Signal Gold Inc. (“Signal Gold”) that the Warrants will expire at 5:00 p.m. (Toronto time) on Friday, December 11, 2026 (the “Expiry Date”).

On December 13, 2024, NexGold completed its acquisition of Signal Gold pursuant to a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”). As a result of the Arrangement, the Signal Warrants remain exercisable in accordance with their terms; however, upon exercise, holders are entitled to receive common shares of NexGold (“NexGold Shares”) in lieu of Signal Gold common shares, based on the exchange ratio of 0.1244 of a NexGold Share for each Signal Gold common share that would otherwise have been issuable upon exercise of the Signal Warrants.

Accordingly, each Signal Warrant, which was previously exercisable for one Signal Gold common share, is now exercisable, in accordance with its terms and the Arrangement, for 0.1244 NexGold Shares at an adjusted exercise price of $0.95 per NexGold Share until the Expiry Date. Fractional NexGold Shares will be treated in accordance with the terms of the Arrangement and the applicable warrant documentation.

As of November 11, 2026, 33,838,610 Signal Warrants remain outstanding and, if exercised, would entitle the holders to acquire an aggregate of 4,209,523 NexGold Shares. Any Signal Warrants not exercised in accordance with their terms by 5:00 p.m. (Toronto time) on the Expiry Date will expire and cease to be exercisable.

Holders wishing to exercise their Signal Warrants should ensure that all required exercise documentation and funds are delivered in accordance with the terms of the Signal Warrants sufficiently in advance of the Expiry Date. Beneficial holders whose Signal Warrants are held through a broker, investment dealer or other intermediary should promptly contact their intermediary regarding the applicable exercise procedures and any deadlines imposed by the intermediary, which may be earlier than the Expiry Date.

The Signal Warrants and the NexGold Shares issuable upon exercise thereof 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 applicable U.S. state securities laws, and may not be offered or sold in the United States absent registration under the U.S. Securities Act and applicable U.S. state securities laws or an available exemption therefrom. This news release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities.

The Signal Warrants are governed by the terms of the applicable warrant certificates and related transaction documents. In the event of any inconsistency between this news release and such documents, the terms of the applicable warrant certificates and related transaction documents will govern.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Paul McNeill, P.Geo., Vice President, Exploration, with respect to geological information, and by Brian Jackson, P.Eng., Vice-President, Projects, with respect to engineering and metallurgical information. Mr. McNeill and Mr. Jackson are each Qualified Persons as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 prepared by Nordmin Engineering Ltd., entitled “NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia” with an effective date of December 16, 2021 and a report date of January 11, 2022, and a Prefeasibility Study for the Goliath Gold Complex entitled “Goliath Gold Complex – NI 43–101 Technical Report and Prefeasibility Study” and dated March 27, 2023 with an effective date of February 22, 2023, led by independent consultants Ausenco Engineering Canada Inc.—are available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on NexGold’s website at www.nexgold.com.

Contact:

Orin Baranowsky Chief Financial Officer (647) 697-2625 obaranowsky@nexgold.com	Greg DiTomaso Investor Relations +1 (647) 547-5357 gditomaso@nexgold.com

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 (collectively, “forward-looking information”). Except for statements of historical fact, certain information contained herein constitutes forward-looking information including, but not limited: to information regarding the Company’s strategic objectives and growth plans; the timing, scope and results of drilling and exploration activities; the potential upgrading of Mineral Resource classifications; the identification and evaluation of exploration targets; anticipated mine planning development activities; expected milestones and catalysts during the second half of 2026; initiatives expected to be undertaken by management; the timing of a potential construction decision; whether the Company’s board ultimately approves advancement to construction; the Company’s objective of becoming a Canadian gold producer; and the timing, advancement, completion and results of technical studies, including the updated Goldboro Feasibility Study. 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 involves 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 include, among others: the plan for, and actual results of, current exploration activities; expectations relating to future exploration, development and production activities as well as growth potential for NexGold’s operations; risks relating to the interpretation of geophysical survey data; risks relating to Mineral Resource estimation and classification; risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; reliance on third-parties, including governmental entities, for mining activities; the ability of NexGold to complete further exploration activities, including drilling at the Goliath Gold Complex and Goldboro deposits; the ability of the Company to obtain required approvals; the results of exploration activities; risks relating to mining activities; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of mineral resources, production and cost estimates; risks relating to consultation and engagement with Indigenous communities and the timing or outcome of related agreements and approvals; health, safety and environmental risks; worldwide demand for gold and base metals; gold price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations; and those factors described in the Management’s Discussion and Analysis for the year ended December 31, 2025 of the Company and in the Company’s most recent disclosure documents filed under its 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.