TORONTO, April 09, 2025 (GLOBE NEWSWIRE) -- NexGold Mining Corp. ( TSXV: NEXG; OTCQX: NXGCF) (“ NexGold ” or the“ Company ”) is pleased to announce that it has closed its previously announced bought deal private placement. Pursuant to the offering, NexGold issued 13,889,000 units of the Company (the“ Units ”) at a price of C$0.72 per Unit for aggregate gross proceeds of C$10,000,080 (the“ Offering ”). Each Unit consists of one common share of the Company (each a“ Common Share ”) and one common share purchase warrant (each a“ Warrant ”). Each Warrant is exercisable to acquire one Common Share of the Company for a period of 36 months at an exercise price of C$1.05 from the closing of the Offering. The Offering was led by National Bank Financial Inc. and included Red Cloud Securities Inc. as a Co-Manager (collectively, the“ Underwriters ”). The Underwriters were paid a cash commission equal to 6.0% of the gross proceeds of the Offering, excluding proceeds from the sale of $500,000 worth of Units to certain president's list purchasers, on which no commission was payable.

The net proceeds of the Offering will be used for the continued advancement of the Company's mineral properties and for general corporate purposes.

The securities issued pursuant to the Offering shall be subject to a four-month plus one day hold period in Canada commencing today under applicable Canadian securities laws.

An insider of the Company has subscribed for 348,000 Units under the Offering for aggregate gross proceeds of $250,560. The subscription by the“insider” is considered to be a“related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company did not file a material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the participation therein by the“related party” of the Company were not settled until shortly prior to the closing of the Offering, and the Company wished to close the Offering on an expedited basis for sound business reasons.

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 Mining Corp. is a gold-focused company with assets in Canada and Alaska. NexGold's Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) is located in Northwestern Ontario and its Goldboro Gold Project is located in Nova Scotia. NexGold also owns several other projects throughout Canada, including the Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration property Gold Rock. In addition, NexGold holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska. NexGold is committed to inclusive, informed and meaningful dialogue with regional communities and Indigenous Nations throughout the life of all our Projects and on all aspects, including creating sustainable economic opportunities, providing safe workplaces, enhancing of social value, and promoting community wellbeing.

Further details about NexGold, including the Prefeasibility Study for the Goliath Gold Complex and a Feasibility Study for the Goldboro Gold Project, are available under the Company's issuer profile on and on NexGold's website at .

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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.

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 . 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, including approval of the TSXV, reliance on third-parties, including contactors, local communities and governmental entities, for development and mining activities; the ability of the Company to obtain required approvals; and those factors described in the Company's Annual Information Form for the year ended December 31, 2023 and in the Company's most recent disclosure documents filed under the Company's SEDAR+ profile at . 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.

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