Nexus Gold Applies For 14,151 Hectares In Colombia's South Bolívar Gold District

(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, Oct. 28, 2026 (GLOBE NEWSWIRE) -- Nexus Gold Corp. (TSXV: NXS; OTC: NXSGF) (“Nexus” or the“Company”) is pleased to announce that it has submitted eight mineral concession applications covering approximately 14,151 hectares (141.5 km2) in the South Bolívar gold district of Colombia (see Figure 1 below). The applications support Nexus' strategy of combining exploration of prospective Colombian ground with evaluation of advanced gold projects offering a potential pathway to production.

Located approximately 8 kilometres northwest of Santa Rosa del Sur, Bolívar, the application areas lie within the historic Serranía de San Lucas gold region, which is characterized by structurally controlled mesothermal gold systems, widespread artisanal and small-scale mining activity and comparatively limited modern systematic exploration. The applications remain subject to review and approval by Colombia's National Mining Agency (“ ANM”) and do not currently constitute mineral titles or concessions held by the Company.

“Our strategy in Colombia is to combine the discovery potential of underexplored ground with opportunities to advance more established gold projects,” said Edward Kelly, President and CEO of Nexus.“At South Bolívar, interpreted structures and historical artisanal workings within the application areas provide a geological rationale and a practical starting point for exploration. Subject to receiving the necessary approvals, our first objective will be to map and sample these areas, understand the controls on mineralization and identify targets that warrant further work. These applications support our broader effort to build a Colombian portfolio through disciplined exploration and project evaluation.”

Highlights

• Eight mineral concession applications covering approximately 14,151 hectares in southern Bolívar, Colombia.
• Interpreted structures within the application area share characteristics with structures associated with known gold mineralization elsewhere in the district.
• No evidence of historical drilling has been identified within the Company's application areas.
• The Walter Mine, approximately 20 kilometres southwest of the nearest application boundary, provides a regional geological analogue for the targeted mesothermal gold systems. Historical sampling at the Walter Mine reportedly returned values including 88.9 grams per tonne (“g/t”) gold (“Au”) over 6.0 metres (“m”). These results have not been independently verified and are not necessarily indicative of mineralization within Nexus's application areas.
• Nexus is establishing its Colombian exploration position at a time when the country's new national government has signalled support for renewed natural-resource investment, exploration, mine development and more efficient permitting.

FIGURE 1 - MAP OF SOUTH BOLÍVAR CONCESSION APPLICATIONS
Click here to view Figure 1:

South Bolívar: Established Gold Production, Limited Modern Exploration

South Bolívar forms part of the Serranía de San Lucas at the northern extent of Colombia's Central Cordillera. The district has a long history of vein and alluvial gold mining, including artisanal and small-scale operations. Modern systematic exploration has been comparatively limited, partly due to difficult access and dense vegetation.

Regional geology consists of Jurassic intrusive, volcanic and sedimentary rocks, including diorites and granodiorites associated with the Norosí Batholith. North- and northeast-trending regional structures represent important controls on shear-zone-related gold mineralization throughout the district.

Current geological interpretation indicates that comparable structural features occur within the Nexus application areas in the broader regional batholithic setting. Historical artisanal workings identified within those areas provide evidence of past gold mining and priority locations for initial fieldwork. Based on historical information reviewed to date, the Company has identified no evidence of systematic historical drilling within the application areas.

Nexus expects to target structurally controlled mesothermal gold mineralization in shear zones and associated veins, initially assessing prospective structures for orientation, continuity and evidence of gold mineralization.

Proposed Exploration Strategy

Subject to the successful granting of the applications and receipt of applicable permits and approvals, Nexus intends to advance its South Bolívar position through a staged exploration program.

Initial work is expected to include:

Compilation and interpretation of regional geological, structural and historical mining information;

Detailed geological and structural mapping;

Mapping and sampling of historical artisanal workings and exposed vein systems;

Systematic rock and soil geochemistry;

Identification and prioritization of structural targets;

Geophysical surveys where appropriate; and

Development of priority targets for potential diamond drilling.

The objective is to identify and prioritize exploration targets across the application areas.

Walter Mine: Regional Exploration Analogue

Historical technical information describes Walter as a shear-zone-hosted mesothermal gold system developed within diorites and granodiorites associated with the Jurassic Norosí Batholith. The principal Walter structure has been described historically as a northeast-trending, steeply southwest-dipping shear and vein system approximately 2.5 metres to more than 5 metres wide.

Mineralization is reported to consist predominantly of pyrite, with lesser chalcopyrite, galena and sphalerite, accompanied by quartz, carbonate, clay and chlorite alteration. Historical underground work reportedly demonstrated continuity of the Walter structure for at least one kilometre along strike and 130 metres vertically; additional mineralized occurrences were reported northeast of Walter.

Historical sampling at the Walter Mine reportedly returned significant gold values from mineralized vein exposures. Available descriptions suggest a combination of grab, chip and channel samples, rather than diamond drill intersections; the sampling method for each reported interval has not been independently established.

Reported historical gold values include:

147.5 g/t Au over 1.0 m	41.4 g/t Au over 1.25 m	55.9 g/t Au over 3.0 m
95.0 g/t Au over 1.6 m	20.8 g/t Au over 2.0 m	73.5 g/t Au over 2.0 m
69.3 g/t Au over 1.5 m	88.9 g/t Au over 6.0 m	17.7 g/t Au over 4.3 m

Although the Nexus applications lie northeast of Walter, the Company is not asserting that the Walter structure extends onto its application areas. Walter is a regional geological analogue only. Walter is a third-party property in which Nexus has no interest. Its historical results are not necessarily indicative of mineralization on the Nexus applications, where comparable grade, width or continuity has not been established.

Colombia's Changing Mining Investment Environment

Nexus's applications follow Colombia's 2026 presidential election and a change in the country's mining investment environment. The new national government has stated objectives to encourage natural-resource exploration, investment and mine development, and to improve permitting efficiency. Implementation and effects on individual projects remain uncertain.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Thomas Kelly, SME Registered Member 1696580, a Qualified Person as defined by National Instrument 43-101. Mr. Kelly is the Company's lead Technical Advisor and Colombian Country Manager.

The Company has not independently verified the reported historical Walter sampling results, the sampling and analytical procedures employed, or the laboratories where the analyses were conducted. Original assay certificates and complete sampling records have not been made available to the Company. The historical results should not be relied upon as representative of mineralization within Nexus's application areas. The Walter Mine is a third-party property in which Nexus holds no interest, and its reported mineralization is not necessarily indicative of mineralization on the Company's application areas.

Stock Option Grant

The Company also announces that it has granted 800,000 incentive stock options to directors and officers pursuant to its stock option plan. The options are exercisable at $0.17 per common share for a period of five years from the date of grant and vest in equal installments of 25% every six months, subject to applicable TSX Venture Exchange policies.

About Nexus Gold Corp.

Nexus Gold Corp. (TSX-V: NXS; OTC: NXSGF) is a Canadian gold company focused on building a portfolio of exploration and development opportunities, with a focus in Colombia. The Company's strategy combines the acquisition and redevelopment of past-producing gold projects with the exploration of prospective mineral properties offering significant discovery potential.

Through its Colombian subsidiary, Nexus Gold SAS, the Company is pursuing opportunities where technical expertise, operational improvements and access to capital markets can support the advancement of projects toward production. Nexus is committed to creating long-term shareholder value through disciplined acquisitions, systematic exploration and responsible development, supported by an experienced team with extensive mining and operational expertise in Latin America.

For further information, please contact:

Edward Kelly
President & CEO
Nexus Gold Corp.
...
+1 (778) 786-0795

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to planned exploration activities in the South Bolívar gold district and the required review and approval of ANM, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

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