Mr. Donald Moore reports

PLAYFAIR AND NOVA SCOTIA'S NEW GOLDEN ERA

Gold was discovered in Nova Scotia in 1860 and has been mined intermittently since then. There have been three gold rushes: 1861 to 1874, 1896 to 1903 and 1932 to 1942. A total of 65 gold districts were discovered and mined to shallow depths.

Recent developments have revitalized gold exploration and development in Nova Scotia.

Playfair Mining Ltd. holds eight past-producing gold mines and is well positioned to take advantage of this new golden era for Nova Scotia. With gold at all-time high prices, the Nova Scotia government has declared gold a provincial strategic mineral and has also significantly improved the regulatory process providing a streamlined path forward for metal mining projects.

Timothy Halman, Minister of Environment and Climate Change, announced the changes on June 13, 2025, saying, "This new process cuts red tape, reduces delays and provides clarity -- all while maintaining the high environmental protections Nova Scotians expect and deserve."

St. Barbara is now investigating a restart at its Touquoy mine in Nova Scotia (closed in 2023) to process low- and medium-grade stockpiles. St. Barbara is also continuing investigation of three additional planned projects nearby at Fifteen Mile Stream, Cochrane Hill and Beaver Dam, all in Nova Scotia.

St. Barbara managing director and chief executive officer Andrew Strelein said: "We are very encouraged by the significant improvement in the permitting environment in Nova Scotia, and, in particular, we have been encouraged by the progress made with the creation of the large industrial file team to pool expertise within the regulator from across its regional offices. The current gold price provides significant enticement to process the stockpiles."

Nexgold is advancing its Goldboro gold project in Nova Scotia and has recently obtained industrial approval from the Nova Scotia government.

Kevin Bullock, president and chief executive officer of Nexgold, commented: "We are extremely pleased to have received our industrial approval for the Goldboro gold project. We are grateful for the diligence shown over the last two years by NS ECC and members of the LIFT team in their review, and the support the project has now received from the Honourable Timothy Halman, Nova Scotia Minister of Environment and Climate Change." Mr. Bullock continued, "With the receipt of the IA, we have received one of the last key permits required to advance towards construction and operations and 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."

Nexgold has recently announced the sale of a $24-million (U.S.) royalty and the signing of a non-binding letter of intent (LOI) for up to $175-million (U.S.) in project financing for the advancement of the Goldboro gold project.

Playfair has an option to earn 100-per-cent interest in the eight past-producing properties of the Golden Circle project from Explore Resources. This golden opportunity has been carefully assembled over many years by Perry MacKinnon, a well-known Nova Scotian geologist with extensive local experience.

Playfair believes that there are great opportunities to discover new gold deposits in Nova Scotia. Virtually all historical production (1.2 million ounces) from the lower Paleozoic Meguma group of southern Nova Scotia came from high-grade quartz vein systems where underground mining never exceeded 300 metres depth and was often less than 100 metres.

St. Barbara and Nexgold have shown what is possible in locations where historical gold production was moderate (less than 100,000 ounces).

Playfair is compiling data on its eight properties. There are 1,394 records of assessment work on file with the Nova Scotia government on these eight properties. The reports are available free of charge on-line.

Playfair made an initial review of the eight properties to assess the opportunities for both high-grade and high-tonnage exploration.

The opportunities at the Mount Uniacke property clearly stood out followed by priority prospects at Wine Harbour and Country Harbour.

Playfair is excited by the opportunities in the new gold era in Nova Scotia. Playfair's chief executive officer, Don Moore, said: "Playfair has been fortunate to option these eight excellent projects strategically acquired by Perry MacKinnon, a true Nova Scotian with extensive knowledge of the hidden golden opportunities hiding in plain sight. Recent progress by St. Barbara and Nexgold are blazing the trail for a robust gold industry in Nova Scotia. Playfair's Mount Uniacke project, a standout for immediate drilling, will be the focal point of our upcoming exploration programs. Financing plans are under way. Be ready."

The technical contents of this release were reviewed and approved by Greg Davison, PGeo, a qualified person as defined by National Instrument 43-101.

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