Mr. Edward Kelly reports

NEXUS GOLD ANNOUNCES CLOSING OF DEBT SETTLEMENT TRANSACTION

Further to its news release dated Nov. 3, 2025, Nexus Gold Corp. has closed debt settlement transactions with certain creditors of the company to settle outstanding indebtedness totalling $996,429 in consideration for the issuance of 9,489,800 units at a deemed price of 10.5 cents per settlement unit. Each settlement unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire an additional common share in the capital of the company at a price of 20 cents for a period of 24 months.

All settlement units issued in connection with the debt settlement will be subject to restrictions on resale for a period of four months and one day expiring on June 27, 2026, in accordance with applicable securities laws. The settlement units are also subject to a one-year hold period imposed by the TSX Venture Exchange, with 20 per cent of the settlement units released every three months, with the first release on the TSX-V's bulletin date.

The debt settlement is subject to final acceptance of the TSX-V.

We seek Safe Harbor.