Mr. Kevin Bullock reports

NEXGOLD PROVIDES SUMMARY OF 2025 ACTIVITIES AND KEY PRIORITIES FOR 2026

Nexgold Mining Corp. has provided its key milestones and achievements from the past year as it looks toward numerous significant catalysts for 2026.

Kevin Bullock, president and chief executive officer, stated: "Two thousand twenty-five was the first year of Nexgold as a multiasset, Canadian gold-focused developer following the acquisition of Signal Gold in December, 2024. The company achieved numerous milestones in 2025, positioning Nexgold for a year of transition in 2026. Throughout 2025, the Nexgold team delivered many accomplishments outlined in this news release, of which I am extremely proud. As a result of these advancements, the company increased its share price by more than 150 per cent, from 70 cents to $1.77, and grew its market capitalization by more than 325 per cent, from $100-million to over $400-million. We look forward to a transformational year ahead as we continue working collaboratively with our employees, rightsholders, stakeholders, communities and shareholders."

Significant highlights from 2025 include:

• The receipt of all major federal and provincial permits (following the August, 2022, environmental assessment approval) to advance the Goldboro gold project toward a construction decision, including:
  • Crown land lease and licence granted by the government of Nova Scotia in May, 2025;
  • Approval of the Schedule 2 amendment by Environment and Climate Change Canada in July, 2025;
  • Receipt of the industrial approval from the government of Nova Scotia in August, 2025; and
  • Fisheries Act authorizations granted by Fisheries and Oceans Canada in October, 2025;
• Implementation of the Dec. 12, 2024, landmark benefits agreement with the Assembly of Nova Scotia Mi'kmaw Chiefs; the benefits agreement covers all phases of Goldboro and outlines the economic, environmental, cultural, employment and other benefits to be provided to the Mi'kmaq of Nova Scotia; it reflects the commitment of the Mi'kmaq to protect and enhance the land- and resource-based economy within its traditional territory and the collective desire of each party to pursue mutually beneficial social and economic opportunities while respecting the principles of environmental stewardship;
• Continued implementation of the 2022 community benefits agreement with the Municipality of the District of Guysborough; the CBA includes annual community grants, bursaries for high school students, commitment to a local office within the municipality and provision of financial incentives for project staff to relocate to the region;
• Deleveraging of the company's balance sheet through the early repayment of the $12-million (U.S.) debt facility and repurchase of the 0.6-per-cent net smelter return royalty with Nebari;
• The sale of a $24-million (U.S.), 2.9-per-cent royalty to Appian Capital Advisory Ltd., as well as a non-binding letter of intent for up to $175-million (U.S.) in project finance debt to finance the development of Goldboro; the company has the option to buy back 1.9 per cent of the royalty under certain terms for a period of four years;
• The completion of a $112.5-million bought deal equity financing (Oct. 31, 2025);
• Completion of a 26,904-metre infill diamond drill program at the Goldboro deposit and a 9,084-metre program at the Goliath deposit, with combined infill and expansion drilling.

2026 priorities

Looking ahead to 2026, the company is focused on creating value for shareholders, stakeholders and rightsholders through continuing safe and responsible advancement of the Goldboro and Goliath gold complex projects, which will include comprehensive drill programs, continued advancement of permitting activities, and feasibility and technical studies. Key priorities for 2026 at Goldboro and Goliath include:

Goldboro gold project:

• Finalization of an updated mineral resource estimate incorporating recent infill drilling results;
• Completion of a feasibility study update that commenced in November, 2025, and includes the development of robust capital and operating cost estimates;
• Advancement of project execution planning, including finalization of the project's contracting and procurement strategies and detailed schedule development;
• Finalization of project financing arrangements as well as a final investment decision;
• Advancement of detailed engineering to support construction requirements and timing;
• Commencement of procurement for long-lead equipment;
• Initiation of an early works construction program in the second half of the year to derisk and enable a full construction ramp-up;
• Building the organizational capacity necessary to execute the project, including both owner team members and project partners;
• Commencement of a detailed, close-spaced infill drilling program at Goldboro to define potential near-surface mineral resources, where the first years of mining are planned to be carried out;
• Discovery of additional deposits and additional resources.

Goliath gold complex

With the targeted commencement of early works at Goldboro in 2026, Nexgold has made a decision to pause the feasibility study at Goliath to assess various alternatives for Goliath to yield the optimum plan and configuration for the project, including:

• Undertake an infill drill program at Goldlund to improve mineral resource definition at depth;
• Additional exploration activities to focus on discovery and mineral resource growth across the entire Goliath property package;
• Further environmental work, including baseline studies and technical studies, will be initiated or advanced to support the permitting process, in collaboration with first nations communities and stakeholders.

Sprott Resources Streaming and Royalty Corp. royalty -- shares-for-debt issuance

Pursuant to the terms of a royalty agreement with Sprott Streaming, announced on Feb. 14, 2022, and amended on May 1, 2024, the company has elected to issue 550,786 common shares to Sprott Streaming at a deemed price of $1.70 per common share in satisfaction of a coming minimum payment of $675,000 (U.S.) due under the royalty agreement. The royalty agreement requires Nexgold to make $675,000 (U.S.) minimum payments every quarter, in cash or common shares (at Nexgold's election). The common shares will be issued as shares for debt in accordance with Policy 4.3 of the TSX Venture Exchange corporate finance policies. Nexgold expects to issue the common shares to Sprott Streaming on or about Jan. 12, 2026. The payment was approved by the board of directors of Nexgold and is subject to approval of the TSX-V.

Investor relations services

The company has entered into an investor relations agreement dated Jan. 12, 2026, with GDT Strategic Communications Inc. to support its communications and investor outreach. The agreement has an initial three-month term at a fee of $8,500 per month, with an option to renew unless terminated earlier. GDT is an arm's-length party with no interest in the company or its securities, nor any intention or right to acquire such an interest. No securities will be issued as compensation, and the company has no other relationship with GDT. The agreement is subject to TSX-V approval.

Qualified person

Kevin Bullock, PEng, president and chief executive officer of Nexgold, is considered a qualified person for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects), and has reviewed and approves of the scientific and technical disclosure contained in this news release on behalf of Nexgold.

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 joint venture and grassroots gold exploration property Gold Rock. In addition, Nexgold holds a 100-per-cent interest in the high-grade Niblack copper-gold-zinc-silver volcanogenic massive sulphide project, located adjacent to tidewater in southeastern Alaska. Nexgold is committed to inclusive, informed and meaningful dialogue with regional communities and indigenous nations throughout the life of all its projects and on all aspects, including creating sustainable economic opportunities, providing safe workplaces, enhancing social value and promoting community well-being.

We seek Safe Harbor.