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Nexus Gold Announces Board and Management Changes and Debt Settlement Transaction

Fri, 22 Nov 2024 14:55:00 MST

Vancouver, British Columbia – November 22, 2024 – TheNewswire - NEXUS GOLD CORP. (the “Company”) (TSX.V: NXS) is pleased to announce that Edward Kelly has been appointed as Chief Executive Officer of the Company, and Kevin Hart has been appointed as Chief Financial Officer, effective immediately. Both Messrs. Kelly and Hart have also been appointed to the board of directors of the Company.

Messrs. Kelly and Hart fill vacancies created by Milad Zareian, Brian Shin and Kevin Shum, each of which have resigned from their roles with the Company. The board of directors would like to thank Messrs. Zareian, Shin and Shum for their prior service to the Company.

Following these changes, the board of directors of the Company is comprised of Edward Kelly, Kevin Hart, Alex Klenman, Warren Robb and Rodney Stevens.

Debt Settlement Transaction

The Company also announces that it has reached an agreement with Belgravia Hartford Capital Inc. (“Belgravia”) to settle all outstanding indebtedness (the “Indebtedness”) currently owing to Belgravia. The Company is currently indebted to Belgravia in the principal amount of $515,000, plus accrued interest, in connection with previous unsecured loans advanced to the Company for working capital purposes. In settlement of the Indebtedness, the Company proposes to issue 10,300,000 common shares (the “Settlement Shares”) at a deemed price of $0.05 per Settlement Share, and 1,800,000 share purchase warrants (the “Settlement Warrants”). Each Settlement Warrant will entitle the holder to acquire an additional common share at a price of $0.05 for a period of twelve months.

The Company is at arm’s-length from Belgravia. In connection with completion of the settlement, Belgravia has directed the Company to issue 1,000,000 of the Settlement Shares to an arms-length third-party. All securities issued in connection with settlement of the Indebtedness will be subject to restrictions on resale for a period of four months and one day, in accordance with applicable securities laws, and 5,150,000 of the Settlement Shares will be subject to additional restrictions on resale for a total of six months. Belgravia has agreed to provide notice to the Company in connection with any disposition of the Settlement Shares or the Settlement Warrants and to exercise any voting rights associated with the Settlement Shares in favour of management of the Company. Completion of the settlement remains subject to the approval of the TSX Venture Exchange.

About Nexus Gold Corp.

Nexus Gold is a Canadian-based gold development company with an extensive portfolio of exploration projects in West Africa. The Company’s West African-based portfolio totals over 560-sq kms (56,000+ hectares) of land located on active gold belts and proven mineralized trends. The Company is focusing on the development of several core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its portfolio.

ON BEHALF OF THE BOARD OF NEXUS GOLD CORP.

“Edward Kelly”

Edward Kelly, Chief Executive Officer

For further information please contact:

Edward Kelly, Chief Executive Officer

info@nexusgoldcorp.com

Forward-Looking Statements

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 the future operating or financial performance of the Company, 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.

TSX Venture Exchange Disclaimer

Nexus Gold Announces Private Placement

Fri, 12 Apr 2024 14:30:00 MDT

Vancouver B.C., April 12, 2024 – TheNewswire – NEXUS GOLD CORP. (the “Company”) (TSX.V: NXS, OTCQB: NXXGF, FSE: N6E) is pleased to announce that it will offer (the “Offering”) up to 20,0000,000 units (each, a “Unit”) by way of non-brokered private placement at a price of $0.02 per Unit for aggregate gross proceeds of up to $400,000. Each Unit will consist of one common share of the Company and one common share purchase warrant allowing holders to purchase an additional common share at a price of $0.05 for a period of twenty-four months.

The net proceeds from the Offering will be utilized for general working capital purposes. The Company does not anticipate that any proceeds from Offering will be utilized for investor relations activities, or for payments to non-arms length parties to the Company.

In connection with completion of the Offering, the Company may pay finders' fees to eligible third parties who have assisted in introducing subscribers to the Company. All securities issued in connection with the Offering will be subject to a statutory hold period of four-months-and-one-day in accordance with applicable securities laws. Completion of the Offering remains subject to the approval of the TSX Venture Exchange.

About Nexus Gold Corp.

ON BEHALF OF THE BOARD OF NEXUS GOLD CORP.

“Milad Zareian”

Milad Zareian, Chief Executive Officer

For further information please contact:

Milad Zareian, Chief Executive Officer

Tel: 416-846-4599

info@nexusgoldcorp.com

Forward-Looking Statements

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 the future operating or financial performance of the Company, 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. Forward-looking statements in this press release relate to, among other things: statements relating to the successful closing of the Offering and anticipated timing thereof and the intended use of proceeds. 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. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. 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.

TSX Venture Exchange Disclaimer

Nexus Gold Updates Dakouli 2 Gold Concession, Burkina Faso, West Africa

Fri, 12 Apr 2024 07:00:00 MDT

Vancouver, Canada – April 12, 2024 – TheNewswire – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, OTCQB: NXXGF, FSE: N6E) is pleased to provide a corporate update regarding its plans to return to the Dakouli 2 Gold Project, located in Burkina Faso, West Africa.

The Dakouli 2 property is a 9,800-ha gold project with several established zones of mineralization. Gold is situated from near surface to 200m depth, with the majority of the significant drill intercepts in the 100-meter range. The Company recently paid taxes on the property and intends to raise sufficient capital in the near term to begin multiple follow-up work programs during the remainder of the 2024 calendar year.

“Dakouli has proven to be a highly prospective gold target”, said Milad Zareian, CEO. “With gold showing strong gains now is the time for Nexus to get back to developing what is a superb exploration project. West Africa holds some the planet’s most prolific gold endowments, and Dakouli is located on the one of the more prolific greenstone belts. We’re excited about gold’s recent rise and we believe now is the perfect time to ramp up our operations in West Africa,” continued Mr. Zareian.

Drilling to Date at Dakouli

In late 2020 the Company conducted a Reverse Circulation (“RC”) drill program at the 98-sq kms concession consisting of 2,914 meters of exploratory drilling. The first-ever drill program on the property was designed to test several areas that have returned either high gold values from rock samples or coincidental soil geochemical and geophysical anomalies proximal to artisanal workings (“orpaillages”).

Significant results were encountered in several holes, including:

DKL-20-RC-007

4.83 grams-per-tonne (“g/t”) gold (“Au”) over 20 meters
Including 14.51 g/t Au over 6m
And 39.6 g/t over 2m

DKL-20-RC-009

1.61 g/t Au over 10m
Including 4.11 g/t Au over 2m

DKL-20-RC-010

1.89 g/t Au over 8m
Including 6.54 g/t Au over 2

DRILL HOLE	AZ	DIP	FROM (METERS)	TO (METERS	INTERCEPT METERS	GOLD INTERCEPT GRAMS PER TONNE fire assay
DKL-20-RC-007	350	-60	108	138	30	3.31
			108	128	20	4.83
			108	126	18	5.35
			108	124	16	5.92
INCLUDES			108	110	2	1.175
			110	112	2	1.06
			118	120	2	2.28
			120	122	2	39.6
			122	124	2	1.645

DKL-20-RC-009	360	-45	50	60	10	1.61
INCLUDES			54	56	2	1.6
			52	54	2	4.11
			76	84	8	0.26
			96	104	8	0.21
			108	118	10	0.2
			120	126	6	0.31
			128	136	8	0.24
			140	150	10	0.47

DKL-20-RC-010	360	-45	64	66	2	1.46
			74	82	8	1.89
INCLUDES					2	6.54

In addition, several holes returned lengthy intercepts of sub-one gram gold, including DKL-20-RC-006 which returned .59 g/t Au over 18 meters, DKL-20-RC-017, which returned .91 g/t Au over 10m, and DKL-20-RC-002 which returned .64 g/t Au over 16 meters.

In the summer of 2021, the Company returned to Dakouli to conduct a 2000m follow up Diamond Drill program. Results from this program expanded upon the earlier RC drill results with several significant intercepts:

DKL-21-DD-001

0.95 g/t Au over 23m
Including 1.01 g/t Au over 15m
1.46 g/t Au over 7m
Including 4.87 g/t Au over 1m and 6.88 g/t Au over 1m

DKL-21-DD-002

1.90 g/t Au over 28m
Including 10.87 g/t Au over 4m
Including 15.1 g/t Au over 1m, and 17 g/t Au over 1m
1.43 g/t Au over 10m
Including 10.6 g/t Au over 1m

DKL-21-DD-008

0.86 g/t over 17m
Including 1.18 g/t Au over 12m and 2.19 g/t Au over 6m

DRILL HOLE	AZIMUTH	DIP	FROM	TO	LENGTH	Au g/t
DKL-21-DD-001	0	-60	80	81	1	2.87
			103	135	32	0.75
		INCLUDES	112	135	23	0.95
		INCLUDES	120	135	15	1.01
			123	135	12	1.14
		Includes	129	130	1	2.46
			134	135	1	6.88
			187	194	7	1.46
		INCLUDES	188	189	1	2.03
			190	191	1	4.87
DKL-21-DD-002	0	-50	75.5	77	1.5	1.94
			91	119	28	1.90
		INCLUDES	91	95	4	10.87
			91	92	1	15.10
			94	95	1	17.00
			102	103	1	1.78
			106	107	1	1.09
			110	111	1	1.79
			118	119	1	2.38
			144	145	1	2.04
			154	164	10	1.43
		INCLUDES	156	157	1	10.60
DKL-21-DD-008	360	-60	168	180	12	1.18
		INCLUDES	179	180	1	12.7

Drilling has so far primarily been confined to a small section in the upper northeastern portion of the concession ground.

Click Image To View Full Size

Image 1: Location of Dakouli 2 project, Goren Greenstone Belt, Burkina Faso, West Africa

Click Image To View Full Size

Image 2: Bisecting Sabce faults (red) and artisanal zones, Dakouli 2 project, Burkina Faso, West Africa

About the Dakouli 2 Gold Concession

The Dakouli 2 exploration permit is a nearly 100-sq km gold exploration property located approximately 100 kilometers due north of the capital city Ouagadougou. Situated on the Goren greenstone belt, Dakouli is proximal to Nordgold’s Bissa Mine, and is bisected by the gold-bearing Sabce shear zone.

In late 2018 Company geologists conducted a comprehensive ground reconnaissance program to the west and south of the main orpaillage (artisanal zone) and identified new near surface workings being exploited by artisanal miners. Rock samples collected from these new zones contained various concentrations of visible gold, including coarse nuggety samples.

Follow up work outlined an anomalous zone extending some 500 meters west from the sample zones. Based on those results the Company initiated a 150-line kilometer soil geochemical survey covering the northern half of the Dakouli 2 property. This survey identified three prominent gold geochemical trends.

The primary gold trend parallels the Sabce fault zone and extends for approximately 10 kilometers in a northeast-southwest direction and bisects the property from the northeast corner of the property to its western boundary. The Sabce fault hosts multiple deposits including Nordgold’s 3.4M oz Bissa Mine, located approximately 25km east of the Dakouli ground.

Two secondary gold trends which extend for approximately 6.5 kilometers each are oriented in a northwest to southeast direction and bisect the primary trend. All three gold geochemical trends are coincidental to geophysical trends identified from the national regional airborne geophysics.

* Please note that while the Company considers sampling and reporting results from the new portions of the exploration permit to be accurate, readers are cautioned that a Qualified Person has been unable to verify the laboratory involved in the analysis of these samples, and no documentation was available regarding quality control procedures utilized in the analysis.

Warren Robb P.Geo., Vice President, Exploration, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.

About the Company

Nexus Gold is a Canadian-based exploration company with a focus on precious metals in proven global mining jurisdictions. The company’s primary asset is the 98-sq km Dakouli 2 Gold Concession, located in Burkina Faso, West Africa.

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Milad Zareian, Chief Executive Officer

Tel: 416-846-4599

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Neither the 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 release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Nexus Gold Provides Update on Public Listing of Nexus Metals

Tue, 30 Jan 2024 09:55:00 MST

Vancouver B.C. - TheNewswire - January 30, 2024 – NEXUS GOLD CORP. (the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to provide an update on the intended listing of its proposed spinout of Nexus Metals Corp. on the Canadian Securities Exchange (the “CSE”). Nexus Metals previously applied for listing of its common shares on the CSE following completion of a plan of arrangement involving Nexus Gold Corp. The Company is continuing to work with CSE staff to advance the application and address remaining requirements to complete the listing.

Completion of a listing on the CSE remains subject to satisfaction of customary conditions, including completion of a review by CSE staff and the satisfaction of the initial listing requirements for the CSE. While the Company is committed to completing the CSE listing process, there can be no assurance that the listing will be approved in a timely fashion or at all.

The Company will provide further updates regarding the listing as they become available.

About Nexus Metals Corp.

Nexus Metals is a Canadian-based gold development company focused on the development of the McKenzie Gold Project, located in the prolific Red Lake gold camp, Ontario, Canada.

About Nexus Gold Corp.

ON BEHALF OF THE BOARD OF NEXUS GOLD CORP.

“Alex Klenman”

Alex Klenman, Director

For further information please contact:

Alex Klenman, CEO, Nexus Metals

Tel: 604.970.4330

www.nexusmetals.ca

Forward-Looking Statements

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 completion of a listing on the Canadian Securities Exchange by Nexus Metals Corp., 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. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. 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.

Nexus Gold Announces Debt Settlement

Mon, 28 Aug 2023 15:35:00 MDT

Vancouver BC - TheNewswire - August 28, 2023 - Nexus Gold Corp. (the “Company”) (TSX.V:NXS) (OTC:NXXGF) (FSE:N6E) is pleased to announce that it has reached agreements with two arms-length creditors (collectively, “Creditors”) of the Company to settle (the “Settlement”) outstanding indebtedness totaling $735,821 through the issuance of 14,716,422 common shares (the “Settlement Shares”) at a deemed price of $0.05 per Settlement Share. The outstanding indebtedness comprises principal amounts which were previously advanced to the Company for working capital purposes, along with accrued interest.

The Settlement Shares will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws. Issuance of the Settlement Shares is expected to result in the Creditors becoming insiders of the Company, as such term is defined by the policies of the TSX Venture Exchange. Completion of the Settlement remains subject to the approval of the TSX Venture Exchange.

About Nexus Gold Corp.

ON BEHALF OF THE BOARD OF NEXUS GOLD CORP.

“Milad Zareian”

Milad Zareian, Chief Executive Officer

For further information please contact:

Milad Zareian, Chief Executive Officer

Tel: 416-846-4599

info@nexusgoldcorp.com

Forward-Looking Statements

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 the future operating or financial performance of the Company, 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. Forward-looking statements in this press release relate to, among other things: statements relating to the successful closing of the Offering and anticipated timing thereof and the intended use of proceeds. 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. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. 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.

TSX Venture Exchange Disclaimer

Nexus Gold Provides Update on Private Placement

Fri, 30 Jun 2023 14:56:00 MDT

Vancouver, BC - TheNewswire - June 30, 2023 - NEXUS GOLD CORP. (“Nexus” or the “Company”) (TSX.V:NXS) (OTC:NXXGF) (FSE:N6E) announces that the TSX Venture Exchange (the “TSXV”) has approved an extension to close the non-brokered private placement announced on April 14, 2023 involving the issuance of up to 20,000,000 units of the Company (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of up to $1,000,000 (the “Offering”). The extension allows the Offering to remain open through to July 14, 2023.

Each Unit in the Offering will be comprised of one common share and one common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share (each, a “Warrant Share”) at a price of $0.12 per Warrant Share for a period of eighteen (18) months from closing of the Offering, subject to adjustment in certain events. If, at any time prior to the expiry date of the Warrants, the Company’s common shares have a closing price on the TSXV of $0.18 or greater per common share for a period of ten (10) consecutive trading days, the Company shall have the right to accelerate the expiry date of the Warrants to a date that is at least 30 days following the date of such notice to holders of Warrants.

In connection with completion of the Offering, the Company may pay finders’ fees or commissions to eligible third-parties who have assisted in introducing subscribers to the Offering. Completion of the Offering remains subject to the approval of the TSXV and the satisfaction of applicable public distribution requirements.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 Prospectus Exemptions (“NI 45-106”), the Offering is being made to purchasers resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI- 45-106 (the “Listed Issuer Financing Exemption”). The securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an amended and restated offering document related to the Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at: www.nxs.gold. Prospective investors should read this amended and restated offering document before making an investment decision.

The Company intends to use the aggregate proceeds from the Offering to advance its primary business objective of continuing exploration and development of its projects in West Africa and for general working capital purposes.

About Nexus Gold Corp.

ON BEHALF OF THE BOARD OF NEXUS GOLD CORP.

“Milad Zareian”

Milad Zareian, Chief Executive Officer

For further information please contact:

Milad Zareian, Chief Executive Officer

Tel: 416-846-4599

info@nexusgoldcorp.com

Forward-Looking Statements

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 the future operating or financial performance of the Company, 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. Forward-looking statements in this press release relate to, among other things: statements relating to the successful closing of the Offering and anticipated timing thereof and the intended use of proceeds. 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. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. 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.

TSX Venture Exchange Disclaimer

Nexus Gold Options the Fofora Gold Project, Hounde Greenstone Belt, Burkina Faso

Wed, 07 Jun 2023 10:00:00 MDT

Vancouver, Canada – TheNewswire - June 7, 2023 – Nexus Gold Corp. (“Nexus Gold” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to announce it has signed an option agreement to acquire a 90% interest in the 6,200-ha (62km²) Fofora Gold Project exploration permit located 450km to the southwest of Ouagadougou, Burkina Faso, West Africa. The Company can earn up to a 90% interest in the property by making a combination of cash USD $300,000 and 500,000 share payments over 54 months.

The Fofora permit is located on the eastern side of the Hounde greenstone belt in the Kampti department; in the province of Poni, near the border with Cote D’Ivoire. The Hounde Greenstone Belt is host to several large-scale operating gold mines, including Endeavour’s Mana and Hounde Mines, Futurna Silver’s Yaramoko Mine as well as multiple other producing mines and large-scale discoveries.

The property has been explored in the past by Volta Resources and later by Roxgold and Fortuna Silver. Previous work on the property has identified a 2-kilometer gold in soil geochemical trend straddling the geological contact between andesitic and basaltic rocks. This contact zone correlates well with the regional magnetic data. Silt samples collected from adjacent drainages have returned reported values of 327 & 127 ppb gold. A second target area is situated 7000 meters south of the first trend. This is an area of active artisanal mining. A rock sample collected here by the company in February returned a value 9820 ppb (9.8 g/t) gold. See Figure 2 below.

“With the addition of Fofora we now have three top tier gold exploration projects in our West African portfolio,” said CEO, Milad Zareian. “We are eager to get back to work in Burkina and look forward to drilling as soon as possible. We are hopeful that once the rainy season is behind us later this summer that we’ll be able to announce a meaningful work program,” continued Mr. Zareian.

Click Image To View Full Size

Fig 1: Nexus Gold projects, significant deposits/mines, Burkina Faso, West Africa

The property is immediately adjacent and contiguous to Fortuna Silver’s Boussoura Project. Historical drill results* reported by Roxgold (now Fortuna Silver) returned the following results:

35 metres (“m”) at 4.1 grams per tonne (“g/t Au”) in drill hole BSR-21-RC-FFR-218 from 86m including:
- 9m at 12.1 g/t Au from 96m

6m at 11.3 g/t Au in drill hole BSR-21-RC-FFR-167 from 90m including:
- 1m at 65.6 g/t Au from 94m
2m at 11.7 g/t Au in drill hole BSR-21-RC-FFR-187 from 37m including:
- 1m at 20.9 g/t Au from 38m

3m at 33.6 g/t Au in drill hole BSR-21-RC-FFR-201 from 6m

The company intends to conduct a first pass exploration program over the summer to follow up on the areas mentioned above and to test additional areas.

Click Image To View Full Size

Fig 2: Soils, silts & sample locations, Fofora Gold Project, Burkina Faso, West Africa

* Management cautions that past results or discoveries on adjacent properties may not necessarily be indicative of the presence of mineralization on the Company’s properties.

Warren Robb P.Geo., Vice President, Exploration, is the designated Qualified Person and has reviewed and approved the technical information contained in this release. It is the QP’s opinion that the data as presented is adequate and can be relied upon for use in this press release.

About the Company

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in West Africa. The Company will continue development of assets in West Africa in addition to potentially broadening its scope to include other jurisdictions.

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Milad Zareian

CEO

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Nexus Gold Closes First Tranche of $1 Million Private Placement and Files Amended and Restated Offering Document

Tue, 30 May 2023 07:00:00 MDT

Vancouver B.C. - TheNewswire - May 30, 2023 – NEXUS GOLD CORP. (“Nexus” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to announce that it has closed the first tranche of its non-brokered $1 million private placement, as described in its press release of April 14, 2023 (the “Offering”) and has issued 10,000,000 units of the Company (each, a “Unit”) at a price of $0.05 per Unit for aggregate proceeds of $500,000.

In connection with the Offering, each Unit consists of one common share and one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one additional common share (each, a “Warrant Share”) at a price of $0.12 per Warrant Share until November 29, 2024, subject to adjustment in certain events. If, at any time following the closing of the Offering, the Company’s common shares have a closing price on the TSXV Venture Exchange (the “TSXV”) of $0.18 or greater per common share for a period of ten (10) consecutive trading days, the Company shall have the right to accelerate the expiry date of the Warrants that is at least 30 days following the date of such notice to holders of Warrants. Units in the Offering were offered for sale to purchasers resident in Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, and are not be subject to any statutory hold period in accordance with applicable Canadian securities laws. The Company may close additional tranches of the Offering.

In connection with the first tranche of the Offering, the Company paid cash finders’ fees of $20,000 and issued 400,000 finders’ warrants. Each finders’ warrant entitles the holder to purchase one common share of the Company until November 29, 2024 at a price of $0.12 per common share.

There is an amended and restated offering document dated May 29, 2023 (the “Offering Document”) related to the Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at www.nxs.gold. Prospective investors should read this Offering Document before making an investment decision. The Company intends to use the aggregate proceeds from the Offering to advance its primary business objective of continuing exploration and development of its projects in West Africa and for general working capital purposes.

About Nexus Gold Corp.

ON BEHALF OF THE BOARD OF NEXUS GOLD CORP.

“Milad Zareian”

Milad Zareian, Chief Executive Officer

For further information please contact:

Milad Zareian, Chief Executive Officer

Tel: 416-846-4599

info@nexusgoldcorp.com

Forward-Looking Statements

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 the future operating or financial performance of the Company, 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. Forward-looking statements in this press release relate to, among other things: statements relating to the successful closing of the Offering, anticipated completion of further tranches of the Offering and the intended use of proceeds. 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. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. 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.

TSX Venture Exchange Disclaimer

Nexus Gold Announces Share Consolidation

Tue, 16 May 2023 11:59:00 MDT

Vancouver, Canada – TheNewswire - May 16, 2023 – Nexus Gold Corp. (“Nexus Gold” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) as previously announced on April 14, 2023, the Company confirms that effective at the close of business on May 17, 2023, it will consolidate its common share capital on a ten-for-one basis (the “Consolidation”). Effective at the opening of markets on May 18, 2023, the common shares of the Company will commence trading on a post-consolidation basis under the existing ticker symbol “NXS”).

The Consolidation is intended to make the capital structure of the Company more attractive to potential financing opportunities. The Company currently has 318,733,225 common shares outstanding and following completion of the Consolidation it is expected that the Company will have approximately 31,873,323 shares outstanding.

No fractional shares will be issued in connection with the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole number of common shares and no cash consideration will be paid in respect of fractional shares. Registered holders of common shares of the Company will receive a letter of transmittal from Computershare Trust Company of Canada with instructions on how to exchange existing share certificates for new post-Consolidation share certificates.

About the Company

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Milad Zareian

CEO

info@nexusgoldcorp.com

www.nxs.gold

Nexus Gold to Consolidate Share Capital and Conduct Non-Brokered Private Placement

Fri, 14 Apr 2023 11:30:00 MDT

Vancouver B.C. - TheNewswire - April 14, 2023 – NEXUS GOLD CORP. (“Nexus” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to announce that it plans to consolidate its common share capital on a ten-to-one basis (the “Consolidation”). In connection with the Consolidation, the Company intends to undertake a non-brokered private placement of post-Consolidation units (each, a “Unit”) of the Company (the “Offering”) under the Listed Issuer Financing Exemption (as defined below).

Nexus intends to complete the Consolidation before closing of the Offering in order to better position the Company for corporate development opportunities. The Company currently has 318,733,255 common shares outstanding, and following completion of the Consolidation, it is expected that the Company will have approximately 31,873,326 common shares outstanding. The Company will provide further details regarding the Consolidation, along with the effective date, as soon as they become available.

In connection with the completion of the Consolidation, the Company intends to offer up to 20,000,000 Units by way of non-brokered private placement. The Units will be offered at a post-Consolidation price of $0.05 per Unit. Each Unit will be comprised of one post-consolidation common share and one common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one additional post-Consolidation common share (each, a “Warrant Share”) at a price of $0.12 per Warrant Share for a period of eighteen (18) months from closing of the Offering, subject to adjustment in certain events. If, at any time following the date that is four-months-and-one-day following the closing of the Offering, the Company’s common shares have a closing price on the TSXV Venture Exchange (the “TSXV”) of $0.18 or greater per common share for a period of ten (10) consecutive trading days, the Company shall have the right to accelerate the expiry date of the Warrants that is at least 30 days following the date of such notice to holders of Warrants.

The Offering is scheduled to close on or about May 15, 2023, or such later date as the Company may determine. In connection with completion of the Offering, the Company may pay finders’ fees or commissions to eligible third-parties who have assisted in introducing subscribers to the Offering. Completion of the Offering is subject to a number of conditions including, but not limited to, the receipt of the approval of the TSX Venture Exchange, the Company having received commitments for no less than 10,000,000 Units, and the Company having completed the Consolidation. Completion of the Consolidation remains subject to the approval of the TSX Venture Exchange and the satisfaction of applicable public distribution requirements.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 Prospectus Exemptions (“NI 45-106”), the Offering is being made to purchasers resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI- 45-106 (the “Listed Issuer Financing Exemption”). The securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at: www.nxs.gold. Prospective investors should read this offering document before making an investment decision.

About Nexus Gold Corp.

Nexus Gold is a Canadian-based gold development company with a portfolio of exploration projects in West Africa. The Company’s West African-based features three projects located on active gold belts and proven mineralized trends.

ON BEHALF OF THE BOARD OF NEXUS GOLD CORP.

“Milad Zareian”

Milad Zareian, Chief Executive Officer

For further information please contact:

Milad Zareian, Chief Executive Officer

Tel: 416-846-4599

info@nexusgoldcorp.com

Forward-Looking Statements

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 the future operating or financial performance of the Company, 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. Forward-looking statements in this press release relate to, among other things: statements relating to the successful closing of the Offering and anticipated timing thereof and the intended use of proceeds. 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. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. 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.

TSX Venture Exchange Disclaimer

Nexus Gold Signs LOI to Acquire the Fofora Gold Project, Hounde Greenstone Belt, Burkina Faso

Thu, 30 Mar 2023 07:00:00 MDT

Vancouver, BC - TheNewswire - March 30, 2023 - Nexus Gold Corp. (“Nexus Gold” or the “Company”) (TSXV:NXS) (OTC:NXXGF) (FSE:N6E) is pleased to announce it has signed a non-biding letter of intent to acquire a 90% interest in the 6,200-ha (62km²) Fofora Gold Project exploration permit located 450km to the southwest of Ouagadougou, Burkina Faso, West Africa.

“We’re pleased to potentially add this highly prospective project to our existing West African portfolio,” said CEO, Milad Zareian. “The gold endowment in West Africa, and specifically in Burkina Faso, is well established. The potential for further impactful discoveries, for the delineation of additional sizeable resources, is as good as any place on the planet. We are eager to move Nexus forward and begin to develop our projects. We have work to be done, but we’re committed to increasing our market cap and unlocking the value of our projects,” continued Mr. Zareian.

Click Image To View Full Size

Fig 1: Nexus Gold projects, significant deposits/mines, Burkina Faso, West Africa

Historical work on the Fofora property has consisted of soil geochemistry and silt sampling completed in 2008 by Volta Resources. This early work outlined a two-kilometer northeast-southwest trending soil anomaly straddling the contract between andesitic rocks and basaltic rocks within the Hounde greenstone belt.

Historical silt sampling with the permit area was also completed in 2008 with 38 silts samples being collected from drainage and seeps on the property. Values ranged from 1 ppb gold to 327 ppb gold. An Initial reconnaissance program was attempted in January but due to flooding in the area the program was cut short. Despite this delay the Company geologists were able to access one artisanal operation and collected three samples which returned gold values of 9.8 grams per tonne (“g/t”) gold (“Au”), .108 g/t Au, and 0.056 g/t Au respectively.

Click Image To View Full Size

Fig 2: Fofora Gold Project, adjacent to Fortuna’s Boussoura project, Burkina Faso, West Africa

The property is immediately adjacent and contiguous to Fortuna Silver’s Boussoura Project. Historical drill results reported by Roxgold (now Fortuna Silver) returned the following results:

35 metres (“m”) at 4.1 grams per tonne (“g/t Au”) in drill hole BSR-21-RC-FFR-218 from 86m including:
- 9m at 12.1 g/t Au from 96m
6m at 11.3 g/t Au in drill hole BSR-21-RC-FFR-167 from 90m including:
- 1m at 65.6 g/t Au from 94m
2m at 11.7 g/t Au in drill hole BSR-21-RC-FFR-187 from 37m including:
- 1m at 20.9 g/t Au from 38m
3m at 33.6 g/t Au in drill hole BSR-21-RC-FFR-201 from 6m

As part of its due diligence the company will be conducting further ground follow up on the Fofora permit to identify suitable target areas for drill testing.

* Management cautions that past results or discoveries on adjacent properties may not necessarily be indicative to the presence of mineralization on the Company’s properties.

About the Company

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Milad Zareian

CEO

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Nexus Gold Announces Management Changes

Tue, 28 Feb 2023 07:30:00 MST

Vancouver, Canada – February 28, 2023 – Nexus Gold Corp. (“Nexus Gold” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to announce the appointment of Milad Zareian as CEO, replacing Alex Klenman, who will remain as a director. Mr. Zareian, who has been with the Company as Vice President, Operation, since September of 2022, brings over 10 years experience working with both private and public companies in a variety of capacities. He has been directly involved with new public listings and start-ups, having led financing, shareholder communications and business development initiatives for multiple companies.

“I’m pleased that Milad has agreed to step into a lead role with Nexus,” said outgoing CEO, Alex Klenman. “As we continue with the Canadian spin-out transaction of Nexus Metals, we’re eager to get Nexus Gold more active at our West African gold projects, particularly with the drilling and development of the Dakouli project,” continued Mr. Klenman.

The Company would also like to report that current director, Brian Shin, is stepping off the board and has been appointed CFO, replacing Heidi Gutte, who has resigned to pursue other opportunities. The Company would like to thank Ms. Gutte for her service and wishes her the best in her future endeavours.

The Company also announces the appointment of Kevin Shum to the board of directors. Mr. Shum has over 35 years in the capital markets, having spent many years as a retail broker managing a large portfolio of investors at Canaccord, Wolverton, and PI Financial. He brings a wide network of contacts in the small cap space to his role as independent director.

About the Company

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Nexus Gold Announces Completion of the Arrangement

Wed, 12 Oct 2022 11:40:00 MDT

Vancouver, Canada – TheNewswire - October 12, 2022 – Nexus Gold Corp. (“Nexus Gold” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to announce that its previously announced spinout of the Company's Canadian projects (which include the McKenzie Gold Project, located in Red Lake, Ontario, and the 13,000-hectare Cyclone Gold-Nickel-Copper project, located in the James Bay region, Quebec) has been completed. Pursuant to the arrangement, 45,390,460 shares of its subsidiary, Nexus Metals Corp., will be distributed on an approximate 1:7 basis to the shareholders of Nexus Gold.

Further information regarding the arrangement and the spinout is available in the Company’s news release dated October 5, 2022 and in the Company’s management information circular dated June 7, 2022, a copy of which is available under Nexus Gold’s profile at www.sedar.com.

About the Company

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Nexus Gold Targets Completion of the Arrangement to Spin Out its Canadian Projects

Wed, 05 Oct 2022 10:45:00 MDT

Vancouver, Canada – TheNewswire - October 5, 2022 – Nexus Gold Corp. (“Nexus Gold” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to announce the effective date for its previously announced spinout (the “Spinout”) of the Company's Canadian projects (including the McKenzie Gold Project, located in Red Lake, Ontario) by way of the distribution of the shares of its subsidiary Nexus Metals Corp. (“Nexus Metals”) to the shareholders of the Company through a statutory plan of arrangement (the “Arrangement”). The Arrangement is expected to take effect at 12:01 a.m. on October 12, 2022 (the “Effective Date”).

Pursuant to the terms of the Arrangement, holders of common shares of the Company (the “Existing Nexus Gold Shares”) at the Effective Date will receive one new common share of the Company (each, a “New Nexus Gold Share”) in exchange for each Existing Nexus Gold Share they hold (on a one for one basis) and will receive 1/7 of one Nexus Metals share (each, a “Nexus Metals Share”). The New Nexus Gold Shares are expected to commence trading on the TSX Venture Exchange at the market open on October 14, 2022, under the new CUSIP 65345J105.

The registered shareholders of the Company (the “Shareholders”) will receive a letter of transmittal (each a “Letter of Transmittal”) with respect to the Arrangement with information on how to surrender certificates representing the Existing Nexus Gold Shares to the Company’s depositary, Computershare Investor Services Inc. (“Computershare”). All Shareholders who submit a duly completed Letter of Transmittal along with their respective share certificate(s) to Computershare, will receive a certificate or a DRS statement representing the New Nexus Gold Shares and the Nexus Metals Shares to which they are entitled. Shareholders whose Existing Nexus Gold Shares are registered in the name of an intermediary (such as a broker, investment dealer, bank, or trust company) do not have to take any action and will receive their New Nexus Gold Shares and Nexus Metals Shares through such intermediary.

Further information regarding the Arrangement and the Spinout is available in the Company’s management information circular dated June 7, 2022, a copy of which is available under Nexus Gold’s profile on SEDAR at www.sedar.com.

Nexus Metals is in the process of applying to have the Nexus Metals Shares listed on the Canadian Securities Exchange (the “CSE”). Listing approval will be subject to Nexus Metals satisfying all of the listing conditions of the CSE.

The Spinout is intended to allow the Company to segregate its assets for the purpose of more focused marketing and financing opportunities. Following the Spinout, the Company will continue to develop international opportunities, while Nexus Metals will focus on the Canadian exploration projects.

The Company also advises it is continuing with its due diligence process regarding the acquisition of one or more projects for both Nexus Metals and Nexus Gold. The Company is focused on adding Canadian-based energy/battery metals (i.e., lithium, copper, nickel, etc.) projects to Nexus Metals, while continuing to focus on international precious metals projects in Nexus Gold. Project portfolios of Nexus Metals and Nexus Gold will be adjusted over time to reflect the more specific focus of each company.

About the Company

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in Canada and West Africa. Upon completion of the Arrangement, the Company will continue development of assets in West Africa in addition to broadening its scope to other jurisdictions.

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Nexus Gold Receives Final Court Approval For The Spinout Of Nexus Metals

Thu, 08 Sep 2022 07:00:00 MDT

Vancouver, Canada – TheNewswire -- September 8, 2022 – Nexus Gold Corp. (“Nexus Gold” or the “Company”) (TSXV:NXS) (OTCQB:NXXGF) (FSE:N6E) is pleased to announce that it has received court approval by way of a final order granted by the Supreme Court of British Columbia for the completion of its arrangement (the “Arrangement”) involving the spinout of Nexus Metals Corp. (“Nexus Metals”) and its Canadian resource projects to shareholders.

In anticipation of completion of the Arrangement, the Company has transferred all of its rights to the Canadian projects to Nexus Metals. A total of 45,390,465 shares of Nexus Metals will be distributed on a pro rata basis to shareholders of the Company, pursuant to the Arrangement. Based on the current outstanding share capital of the Company, it is anticipated that this will result in Nexus Gold shareholders receiving approximately one Nexus Metals share for every seven shares of the company they hold. Completion of the arrangement remains subject to approval of the TSX Venture Exchange.

The Company shall in due course determine the record date for the purpose of determining the Nexus Gold shareholders entitled to receive Nexus Metals shares under the Arrangement. A letter of transmittal will in due course be mailed to each Nexus Gold shareholder and be made available under Nexus Gold's profile on SEDAR.

Further information regarding the Arrangement is available in the Company's management information circular dated June 7, 2022, a copy of which is available under the Company’s profile on SEDAR (www.sedar.com).

“This was an important step in moving our plan forward,” said CEO, Alex Klenman. “We’ll establish the record date for determining the new shareholders in Nexus Metals over the next week or two, with the intent to have that record date occur here in the month of September. Basically, the amount of shares of Nexus Gold owned on that record date will determine the amount of shares one receives in the new company. We’re more than eager to get this spinout completed and move forward with two viable exploration companies with very specific mandates. We will issue more updates as we progress, including upcoming exploration plans,” continued Mr. Klenman.

The Company also advises it is continuing with its due diligence process in regard to the acquisition of one or more projects for both Nexus Metals and Nexus Gold. The Company is focused on adding energy/battery metals (i.e., lithium, lopper, nickel, etc) projects to Nexus Metals, while continuing to focus on precious metals (gold, silver) projects in Nexus Gold. Project portfolios of Nexus Metals and Nexus Gold will be adjusted over time to reflect the more specific focus of each company.

Nexus Hires Milad Zareian as VP, Operations

The Company is also pleased to announce that Milad Zareian has been appointed Vice President, Operations. Mr. Zareian brings over 10 years experience working with both private and public companies in a variety of capacities. He’s been directly involved with IPO, RTO and start-ups, having led financing, IR and business development initiatives for multiple companies.

“We’re pleased to bring Milad on board,” said CEO, Alex Klenman. “He has energy, drive, and has built an impressive global contact list, all of which will benefit Nexus Gold moving forward. The board looks forward to working with Milad over the coming months as we complete the spinout transaction for Nexus Metals and as we position Nexus Gold for its post-spinout plans,” continued Mr. Klenman.

About the Company

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in Canada and West Africa. The Company’s primary focus is on its 100%-owned, Dakouli 2 Gold Concession in Burkina Faso, West Africa, and the McKenzie Gold Project, located in Red Lake, Ontario. The Company is focusing on the development of its core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its portfolio.

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Nexus Gold Receives Shareholder Approval for the Spinout of its Canadian Projects

Wed, 10 Aug 2022 07:00:00 MDT

Vancouver, Canada – TheNewswire - August 10, 2022 – Nexus Gold Corp. (“Nexus Gold” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to advise that its proposed plan of arrangement (the “Arrangement”), announced June 28, 2022, has received approval of the shareholders of the Company. The Arrangement, which involves the spinout (the “Spinout”) of the Company’s Canadian projects (which include the McKenzie Gold Project, located in Red Lake, Ontario, and the 13,000-hectare Cyclone Gold-Nickel-Copper project, located in the James Bay region, Quebec) was approved at a special shareholders meeting held on August 4, 2022, by 99% of the votes cast at the meeting.

The Arrangement remains subject to approval by the Supreme Court of British Columbia. The court hearing to obtain a final order approving the Arrangement is scheduled to take place on August 10, 2022. Completion of the Arrangement is also subject to approval of the TSX Venture Exchange.

In anticipation of completion of the Spinout, the Company has transferred all of its rights to the Canadian projects to Nexus Metals Corp. (“Nexus Metals”), a newly-established subsidiary of the Company. A total of 45,390,465 shares of Nexus Metals (“Nexus Metals Shares”) will be distributed on a pro rata basis to shareholders of the Company (“Nexus Gold Shareholders”) pursuant to the Arrangement. Based on the current outstanding share capital of the Company, it is anticipated that this will result in Nexus Gold Shareholders receiving approximately 1 Nexus Metals Share for every 7 shares of the Company they hold.

Completion of the Arrangement is expected to occur on or about August 31, 2022.

“With shareholder approval we’re pleased to move forward with the spinout plan,” said CEO, Alex Klenman. “We look forward to listing Nexus Metals and revamping Nexus Gold to create two separate, viable exploration companies with very specific mandates. The board feels this is the most effective way to realize value contained within our project portfolios and we’re excited to move to the next steps in the process,” continued Mr. Klenman.

The Company also advises it is continuing with its due diligence process in regard to the acquisition of one or more projects for both Nexus Metals and Nexus Gold. Updates on this initiative, as well has exploration plans for the months ahead, will be provided for both companies in the next few weeks.

The Company shall in due course determine the record date for the purpose of determining the Nexus Gold Shareholders entitled to receive Nexus Metals Shares under the Arrangement (the “Distribution Record Date”). The payout date for the Nexus Metals Shares to be distributed to Nexus Gold Shareholders pursuant to the Arrangement will be three Business Days following the Distribution Record Date. A letter of transmittal will in due course be mailed to each Nexus Gold Shareholder and be made available under Nexus Gold’s profile on SEDAR at www.sedar.com.

Cancellation of Stock Options

The Company is pleased to announce that it has entered into Stock Option Cancellation Agreements with option holders holding in aggregate 7,000,000 incentive stock options to acquire common shares of the Company at various prices. Pursuant to the agreements, the Company intends to cancel these options without any further consideration.

Debt Settlement

The Company announces that it has completed the settlement of an outstanding payable in the amount of $50,000 owing to an arms-length service provider through the issuance of one million common shares at a deemed price of $0.05 per share. The common shares issued in connection with the settlement will be subject to restrictions on resale until November 12, 2022, in accordance with applicable securities laws.

About the Company

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

NEXUS GOLD Plans to Spinout Canadian Assets

Tue, 28 Jun 2022 17:25:00 MDT

Vancouver, Canada – TheNewswire - June 28, 2022 – Nexus Gold Corp. (“Nexus Gold” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) announces its intent to spinout (the “Spinout”) the Company’s existing Canadian projects (collectively, the “Canadian Projects”), which include the McKenzie Gold Project, located in Red Lake, Ontario, and the 13,000-hectare Cyclone Gold-Nickel-Copper project, located in the James Bay region, Quebec.

In anticipation of the Spinout, the Company is transferring all of its rights to the Canadian Projects to Nexus Metals Corp. (“Nexus Metals”), a newly-established subsidiary of the Company. A total of 45,390,465 shares of Nexus Metals will then be distributed on a pro rata basis to shareholders of the Company pursuant to a plan of arrangement conducted in accordance with the Business Corporations Act (British Columbia). Based on the current outstanding share capital of the Company, it is anticipated that this will result in current shareholders receiving approximately 1 share of Nexus Metals for every 7 shares of the Company they hold as of the record date for the Spinout.

The Spinout is intended to allow the Company to segregate its assets for the purpose of more focused marketing and financing opportunities. Following the Spinout, the Company will continue to develop its West African projects while pursuing additional international opportunities, while Nexus Metals will focus on the Canadian Projects and the pursuit of North American-based opportunities.

“With the emergence of both McKenzie Gold Project in Red Lake, and the Dakouli 2 Gold Concession in Burkina Faso, West Africa, as viable, stand alone development projects, the Board feels the time is right to give both projects a more singular focus, “ said president and CEO, Alex Klenman. “By spinning out the Canadian assets into a new reporting issuer we are able to pursue regionally specific acquisitions and financing opportunities. By keeping the Burkina Faso assets in Nexus, we can follow a similarly dedicated path with an international focus. This plan segregates the assets for both finance and marketing objectives, improves both acquisition and capital opportunities, and creates what we feel is a less restrictive path for project value to emerge. We believe this is the best course of action to pursue the next phase of development with our projects and we look forward to executing the plan in the coming months,” continued Mr. Klenman.

The Company is also currently conducting due diligence on several potential project acquisitions for both companies to coincide with the proposed spinout transaction.

“We’re currently looking at advanced projects for both entities,” said CEO, Alex Klenman. “Nexus Metals will expand its focus to include not only gold, but other high-demand materials including lithium, and potentially copper as well. For Nexus Gold, we’re looking at opportunities to acquire precious metals projects with established resources or that include enough data suggesting one isn’t too far off. We have an opportunity here to change the landscape for Nexus, and the board is fully committed to creating a situation where value can be realized,” continued Mr. Klenman.

Completion of the Spinout is subject to approval of the TSX Venture Exchange and the Supreme Court of British Columbia, as well as approval of the shareholders of the Company at a special meeting to be held on August 4, 2022 (the “Meeting”). Further information regarding the Spinout is available in the management information circular mailed to shareholders in connection with the Meeting, a copy of which will be available under the profile for the Company on SEDAR (www.sedar.com).

The board of directors has not yet determined a record date for the distribution of shares of Nexus Metals upon completion of the Spinout, and further details regarding completion of the Spinout will be provided in a subsequent news release. Following completion of the Spinout, Nexus Metals will become a reporting issuer in accordance with applicable Canadian securities laws. While the Company intends to seek a listing for Nexus Metal on a Canadian stock exchange, completion of any listing will be subject to Nexus Metals fulfilling the listing requirements.

Debt Settlement

The Company also announces that it has reached an agreement with an arms-length service provider to settle an outstanding payable (the “Payable”) in the amount of $50,000 related to the provision of accounting services to the Company. In settlement of the Payable, the Company has agreed to issue 1,000,000 common shares at a deemed price of $0.05. Completion of the settlement remains subject to the approval of the TSX Venture Exchange. The common shares issued in connection with the settlement will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws.

About the Company

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Nexus Gold Begins Exploration at The District Scale, Cyclone Gold-Nickel-Copper Project in Quebec

Wed, 09 Mar 2022 06:30:00 MST

Vancouver, Canada – TheNewswire - March 9, 2022 - Nexus Gold Corp. (“Nexus” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to announce it has commenced exploration at its wholly-owned 13,166-hectare Cyclone Project, a gold-nickel-copper property which covers a 28-kilometre strike length of the Aquilon Greenstone Belt in the James Bay Region of northern Quebec.

The Company has contracted Prospectair Geosurveys Inc of Gatineau, Quebec, to conduct a property-wide, 1,127 line-kilometers (line-spacing of 150 meters) combined magnetic (MAG) and time-domain electromagnetic (TDEM) airborne survey.

The property was acquired based on its high potential for gold, nickel, and copper mineralization, but only limited historical exploration. The magnetic component of the survey will guide the lithological interpretation of the basement rocks, as well as define structural off-sets and potential alteration features. The electromagnetic (EM) of the survey aims to define conductive features which may be related to sulphide accumulations with the potential for nickel and copper mineralization related to the large volumes of ultramafic intrusions on a portion of the Property.

The Cyclone property consists of a large, district-scale, gold-nickel-copper exploration project, located in the James Bay Region of northern Quebec. Within the James Bay Region are several past / producing gold mines including Newmont’s Eleonore Gold Mine, which began production in 2014. Cyclone comprises 260 mineral claims covering a 28-kilometer-long portion of the Aquilon Greenstone Belt. The Aquilon Belt is a relatively newly characterized (2011) series of volcano-sedimentary rocks that hosts potential for gold and nickel/copper mineralization.

Historical exploration at Cyclone consists of regional-scale mapping and prospecting, as well as an airborne magnetic-electromagnetic (EM) survey. The regional-scale mapping confirmed the mafic and ultramafic rocks, felsic volcanics and iron-formation. During the regional-scale mapping, some of the ultramafic rocks were found to contain minor sulphide (pyrhhotite, chalcopyrite and pyrite) with elevated nickel and chromium. The EM conductors remain largely un-tested.

Two types of gold mineralization have been identified within the western part of the belt. High grade vein-type gold mineralization found in auriferous quartz and carbonate veins hosted within felsic rock associated with felsite's and disseminated pyrite halos. Mineralization tends to be found along a strong lineament known as the Wolfe Corridor. And lower grade gold mineralization associated with bands of disseminated sulphides (Py-Po) with some anomalous copper and zinc values. Large volumes of ultramafic rock at the Cyclone Property suggest there is good potential for magmatic sulphide mineralization (Ni +/- PGE’s).

Click Image To View Full Size

Image 1: Cyclone property located on the Aquilon Greenstone Belt, North-Central Quebec, Canada

Sirios Resources has conducted several exploration programs in the same greenstone belt at their Aquilon Property, located immediately to the west of the Cyclone Property. Sirios’ property has thirty (30) high-grade surface gold showings, including some with spectacular gold grades up to 800 grams-per-tonne and more (see Sirios Resources news releases September 22, 2020, and January 19, 2011). Numerous shallow drill holes were completed on the property over the years (205 holes totaling 12,247m), with the majority of the work concentrated on four of the showings.

* Management cautions that past results or discoveries on adjacent properties may not necessarily be indicative to the presence of mineralization on the Company’s properties.

The Cyclone Project has not yet seen any drilling, or a systematic exploration program for gold or base-metals. At the north end of the Property, it is approximately 1.5 kilometres from an all-weather access road to the La Forge hydroelectric facility, and the all-weather Trans-Taiga Highway passes less than 1 kilometer from the south end of the Property.

Neil McCallum P.Geo., of Dahrouge Geological Consulting Ltd., is the designated Qualified Person as defined by National Instrument 43-101 has approved, the technical information contained in this release.

About the Company

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in Canada and West Africa. The Company’s primary focus is on its 100%-owned, 98-sq km Dakouli 2 Gold Concession in Burkina Faso, West Africa, and the approximately 1400-ha McKenzie Gold Project, located in Red Lake, Ontario. The Company is concentrating on the development of its core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its portfolio.

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Nexus Gold Reports Additional Assay Results from the McKenzie Gold Project, Red Lake, Ontario

Tue, 15 Feb 2022 07:00:00 MST

Hole MK-21-025 returns 10.21 g/t Au over 2 meters
Hole MK-21-028 returns 74m of 0.65 g/t Au
Includes 13m of 1.15 g/t Au and 7m of 1.06 g/t Au
Strike length now over 475 meters

Vancouver, Canada - TheNewswire - February 15, 2022 - Nexus Gold Corp. (“Nexus” or the “Company”) (TSXV:NXS) (OTC:NXXGF) (FSE:N6E) is pleased to report additional assay results from its second round of phase two diamond drilling on its 100% owned McKenzie Gold Project located at Red Lake, Ontario.

This second round of drilling, completed in December 2021, was designed to test gold anomalies occurring in and around historic trenches identified earlier in the fall by prospecting teams employed by the Company. The program was also testing the potential strike extension of mineralization identified in the first round of phase two drilling in the spring of 2021. The program consisted of eight drill holes totaling 2000 meters (full summary of the four holes received is tabled below).

Highlights from the final four holes from the December drill program include:

MK-21-025 returned 2 meters (“m”) of 10.21 grams-per-tonne (“g/t”) gold (“Au”), which includes .8m of 23.7 g/t Au
MK-21-028 returned 0.65 g/t Au over 74m, including 7m of 1.16 g/t Au, 6m of 0.94 g/t Au, and 13m of 1.15 g/t Au
MK-21-029 returned multiple intercepts, including 133m of 0.52 g/t Au, which includes 11m of 1.01 g/t Au, 7m of 1.37 g/t Au, 2m of 1.61 g/t Au among others, and 48m of 0.48 g/t Au (see table following)

Seven of the eight holes drilled in December successfully intersected gold mineralization. To date Nexus has drilled 30 holes at McKenzie, with 27 returning gold values of 1 gram-per-tonne gold or better (visit nxs.gold for a complete drill table under the McKenzie Gold Project tab). Data generated shows a mineralized trend that develops south of Perch Lake and continues in a north/north-westerly direction.

All drill holes were collared in the Dome Stock and successfully cored through granitic rock displaying zones of potassic (“K”) alteration with zones of silica and sericitic alteration; sulphide mineralization consisting primarily of pyrite with lesser chalcopyrite; and occasional molybdenite and sphalerite hosted in quartz carbonate stringers and veins, which was reported occurring in both alteration styles but in greater amounts in the siliceous sericitically altered granite.

The following table includes results from the final four holes drilled in December 2021:

DRILL HOLE	UTM_E	UTM_N	ELEV (m)	AZIMUTH	DIP	FROM	TO	LENGTH	Au g/t
MK-21-023	437725	5653016	366	240	-45	107	108	1	1.32

MK-21-025	437608	5652926	362	130	-45	66	68	2	10.21
				Includes		66	67	.8	23.70

MK-21-028	437718	5652729	360	230	-45	203	276	74	0.65
				Includes		207	214	7	1.06
				And		220	226	6	0.94
				And		260	273	13	1.15
				Includes		272	273	1	4.65

MK-21-029	437725	5652342	380	290	-70	40	88	48	0.48
				Includes		47	48	1	3.43
				And		53	54	1	1.36
				And		58	60	2	1.52
				And		80	81	1	1.00
						115	116	1	1.78
						132	265	133	0.52
				Includes		141	142	1	2.57
				And		163	165	2	1.61
				And		168	170	2	1.49
				And		178	180	2	1.47
				And		200	211	11	1.01
				And		227	228	1	1.82
				And		231	232	1	2.67
				And		243	250	7	1.37
				Includes		243	244	1	6.77
				And		264	265	1	1.59

“This round of drilling has shown that the longer gold intercepts hosted in the silicious and sericitic altered granite is trending to the north west, towards the historic Trench 3 found in our recent prospecting program,” said VP Exploration, Warren Robb. “We clipped this zone in hole 27 but clearly intersected it in hole 28 adding an addition 50 meters to this zone’s strike extent. The drilling north of Perch Lake has intersected a higher grading quartz vein which was intersected by holes 24 and 25 and we have traced it now for 50 meters,” continued Mr. Robb.

“The drilling we’ve done so far at McKenzie has resulted in the discovery of a well mineralized gold system, combining higher grade gold in quartz veins with lengthy, near 1-gram intercepts that permeate out into the intrusives,” said President and CEO, Alex Klenman. “The vast majority of the holes we’ve drilled have returned positive results. We’ve established almost 500 meters of strike length. We are now planning a follow up drill program to pursue the mineralization to the north west and extend the known strike,” continued Mr. Klenman.

Click Image To View Full Size

Initial holes from the December drill program, previously reported (NR dated February 9, 2022):

DRILL HOLE	UTM_E	UTM_N	ELEV (m)	AZIMUTH	DIP	FROM	TO	LENGTH	Au g/t
MK-21-024	437725	5652960	360	300	-45	54	76	22	2.19
					includes	65	66	1	21.00
					and	70.5	72	1.5	24.50

MK-21-026	437608	5652980	362	190	-50			NSR

MK-21-027	437718	5652792	360	195	-45	13	14	1	1.64
						234	235	1	2.54
						247	270	23	0.59
					includes	234	265	1	2.76
					and	269	270	1	6.31

MK-21-030	437725	5652342	380	350	-50	75	100	25	0.52
					includes	76	77	1	1.84
						90	91	1	1.14
						97	100	3	1.41
						107	117	10	0.58
					Includes	111	112	1	3.57
						135	136	1	1.75
						153	154	1	1.12
						165	187	22	0.52
					Includes	173	179	6	1.07
						251	263	12	0.63
					Includes	253	259	6	1.17
					Includes	256	258	2	2.41

Drill core is logged and sampled in a secure core storage facility located in Red Lake, Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited independent mineral analysis laboratory, for analysis. All samples are analyzed for gold using standard Fire Assay-AA techniques. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Nexus’s quality control/quality assurance program (QA/QC).

Drilling at McKenzie Gold Project

This 2000-meter drill program commenced with the first hole being drilled to test the northern extent of gold mineralization identified by earlier drilling conducted by the Company in April 2021 which included holes MK-21-018 and MK-21-019, both of which returned significant gold intercepts (see Company news releases dated May 25 and June 1, 2021), and to test gold mineralization recently identified during a fall targeting and prospecting program conducted north of Perch Lake.

Selective grab samples obtained during the fall program returned gold assays of ^13.40 grams-per-tonne (“g/t”) gold (“Au”), 7.70 g/t Au, 6.83 g/t Au, 3.54 g/t Au, and 3.51 g/t Au, respectively, confirming mineralization in this new area.

Three historical trenches and a new showing were also identified during the prospecting program (see image 1). The trenches are comprised of quartz veins containing clots and patches of semi massive chalcopyrite, pyrite and molybdenite. The veins are hosted in granite which displays strong pervasive silica flooding. Local discrete shearing in both trenches trend at approximate attitudes of 330° and dip 70° to 80° to the east, displaying similar trends and lithologies established in the Company’s previous drill campaigns.

This second round of diamond drilling was planned to expand on the results obtained in the Company’s previous drill programs. These programs outlined a broad zone of gold mineralization in the St. Paul’s Bay area, located in the southernmost section of the claim block below Perch Lake.

Significant results from these drill programs include:

MK-20-RC-006: 2.75m of 13.25 grams-per-tonne (“g/t”) gold (“Au”), including 1m of 36.20 g/t Au (68.75m to 70.5m)
MK-20-RC-008: 55.5m of 1 g/t Au (67.5m to 123m), including 16m of 1.42 g/t Au, 6m of 2.37 g/t Au, and 9m of 1.14 g/t Au
MK-21-DD-018: 56m of 1.01 g/t Au (13m to 69m), including 21.5m of 1.84 g/t Au, 10m of 3.30 g/t Au, and 1m of 23.1 g/t Au. Other intercepts included 37.6m of 2.78 g/t Au (77m to 115m), including 24.7m of 4.05 g/t Au, 14m of 7.01 g/t Au, and 1m of 94.2 g/t Au.
The entire length of MK-21-DD-018 averaged .99 g/t Au over 198m
MK-21-DD-019: 136m of 1.25 g/t Au (148m to 285m), including 44.9m of 3.00 g/t Au, 15.5m of 5.25 g/t Au, 29.4m of 1.82 g/t Au, and 6m of 5.45 g/t Au. High-grade intercepts included 1m of 59.8 g/t Au, 1m of 15.5 g/t Au, and 1m of 26.7 g/t Au.
Hole MK-21-DD-19 ended in mineralization at 285 meters, with an average grade of the hole returning .74 g/t Au over 283.4m

See Company news releases, September 3, 2020, May 25, 2021, and June 1, 2021, for more details on previous diamond drill programs.

All reported holes were drilled entirely in a granitic rock of the Dome stock and displayed patchy moderate-to-strong silica alteration. Silica altered intervals are typically associated with high density micro-fracturing and increased molybdenite and chalcopyrite mineralization. Fine-grained fluorescent scheelite was also observed. The granite was strongly magnetic, containing 2-3% fine-grained disseminated magnetite.

Click Image To View Full Size

Figure 2: McKenzie Gold Project, Red Lake, Ontario, with nearby advanced prospects, producers, and past producers

About the McKenzie Gold Project

The 100%-owned McKenzie Gold Project is an approximately 1,400-hectare gold exploration project located in the heart of the historic Red Lake gold camp, in western Ontario, Canada. Areas of high-grade gold mineralization have been established within the northern portion of the claim block (McKenzie Island), with significant gold values having been drilled along a 600-meter strike in the southern portion of the property (St. Paul’s Bay area).

Significant results from the Company’s initial drill program in August 2020 include hole MK-20-006 which returned 2.75 meters of 13.25 g/t Au, including 1m of 36.2 g/t Au; hole MK-20-007 which returned 117.4m of 0.33 g/t Aum including 9.4m of 1.26 g/t Au, and 1.5m of 4.64 g/t Au; and hole MK-20-007, which returned 117.5m of .62 g/t Au, including 55.5m of 1.00 g/t Au, which included 16m of 1.42 g/t Au (including 6m of 2.37 g/t Au and 2m of 4.28 g/t Au), and 9m of 1.14 g/t Au. See the Company website – www.nxs.gold – for the complete McKenzie project drill table.

Results from the Company’s initial summer 2020 drill program returned values similar to historic drilling in the area, which have been typically higher-grade intercepts over narrow widths (i.e., 0.5m to 1m of > 5 g/t Au). In addition, holes 007 and 008 identified a second style of gold mineralization on the McKenzie property. These lengthy (> 100m) disseminated, sub and near one-gram gold intercepts more closely resemble the type of mineralization being explored at the Hasaga Project, located approximately 5kms to the south-east of the McKenzie project ground.

The Hasaga property is host to the past-producing Hasaga and Gold Shore Mines and is strategically located proximal to the Balmer-Confederation regional unconformity, recognized as an important geologic feature at the multi-million ounce past and currently producing Red Lake area mines. The deposits on the Hasaga Project are estimated as hosting an Indicated mineral resource of 42.294 million tonnes at a grade of 0.83 g/t gold representing 1,123,900 ounces of gold (Indicated)*.

Nexus Amends Dorset Option Agreement

Nexus Gold Corp. (the “Company”) is pleased to announce that it has reached an agreement (the “Amended Agreement”) with Leocor Gold Inc. (“Leocor”) (CSE: LECR), dated February 8, 2022, pursuant to which it has agreed to amend the terms by which Leocor can acquire the Dorset Gold Project (the “Project”) located in the Province of Newfoundland. The Amended Agreement replaces the existing property option agreement (the “Option Agreement”) entered into between the Company and Leocor, dated April 22, 2020.

Under the terms of the Amended Agreement, Leocor will continue to hold a right to acquire up to a one-hundred percent interest in the Project. Consideration for the acquisition will now consist of the following:

Deadline	Cash Payment	Common Shares
Initial	$100,000 (Paid)	Nil
Year 1	$50,000 (Paid)	Nil
February 28, 2022	$200,000	333,333
February 28, 2023	$200,000	333,333
February 28, 2024	Nil	333,334
Total	$550,000	1,000,000

Leocor will also assume responsibility for a two percent net smelter returns royalty on the Project, currently held by United Gold Inc. and Margaret Duffitt. All common shares of Leocor issued to the Company will be subject to statutory restrictions on resale for a period of four-months-and-one-day following issuance in accordance with applicable securities laws.

Alex Klenman is a director and senior officer of both the Company and Leocor, however the Amended Agreement and the Option Agreement are not considered related party transactions within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The Company and Leocor are considered to be “non-arms’ length parties” under the policies of the TSX Venture Exchange, and as a result the Amended Agreement is subject to review by the TSX Venture Exchange.

The Amended Agreement and the Option Agreement have been reviewed and approved by the independent directors of each of the Company and Leocor, but the acquisition of any interest in the Project by Leocor, under the terms of the Amended Agreement, remains subject to the approval of the TSX Venture Exchange.

Nexus Appoints Brian Shin to the Board of Directors

The Company is also please to announce the appointment of Mr. Brian Shin as a Director of the Company effective immediately.

Mr. Shin specializes in providing financial reporting, corporate finance, auditing, corporate strategy, risk management and other accounting services to both public and private companies in various industries. He holds the professional designation of Chartered Professional Accountant (CPA) in B.C. and Canada and Certified Management Consultant (CMC). Mr. Shin has had extensive experience as a consultant, controller and auditor for numerous publicly traded and private corporations in several industries in multiple countries such as Canada, Hong Kong and South Korea.

Alex Klenman, President and CEO of Nexus Gold states, "On behalf of Nexus Gold's Board of Directors, I am very pleased to welcome Brian Shin to the Company. We are confident that Brian’s experience and perspective will be of great value to Nexus Gold as the Company grows."

* Reported lengths are intercepts and are not true widths

^ Grab samples are selected samples and are not necessarily representative of mineralization hosted on the property. All samples were sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis.

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analyzed for gold using standard Fire Assay-AA techniques. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Nexus’s quality control/quality assurance program (QA/QC). No QA/QC issues were noted with the results reported herein.

* NI 43-101 Technical Report, Hasaga Project, Red Lake Mining District, Ontario, Canada, NTS Map Sheets 52K/13 and 52N/04 by Vincent Jourdain (Ph.D., P.Eng.), John Langton (M.Sc., P. Geo.) & Abderrazak Ladidi (P.Geo.), February 24th, 2017.

Warren Robb P.Geo., Vice President, Exploration, is the designated Qualified Person and has reviewed and approved the technical information contained in this release. Any historic drill and sample data contained in this release was verified by the QP by comparing reported assay data with Certificates of Analysis documented. The QP has verified mineral showings and areas of select sampling and the collars of reported historic drill hole locations. It is the QP’s opinion that the data as presented is adequate and can be relied upon for use in this press release.

About the Company

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in Canada and West Africa. The Company’s primary focus is on its 100%-owned, 98-sq km Dakouli 2 Gold Concession in Burkina Faso, West Africa, and the approximately 1400-ha McKenzie Gold Project, located in Red Lake, Ontario. The Company is focusing on the development of its core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its portfolio.

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

Nexus Gold Reports Initial Assay Results from December Drilling at the Mckenzie Gold Project, Red Lake, Ontario

Wed, 09 Feb 2022 07:00:00 MST

- Hole MK-21-024 returns 2.19 g/t Au over 22 meters

- Includes high-grade intercepts of 24.5 g/t Au over 1.5m and 21 g/t Au over 1m

- Drilling successfully extends strike length over 400 meters

Vancouver, Canada - TheNewswire - February 9, 2022 - Nexus Gold Corp. (“Nexus” or the “Company”) (TSXV:NXS) (OTC:NXXGF) (FSE:N6E) is pleased to report initial assay results from its second round of phase two diamond drilling on its 100% owned McKenzie Gold Project located at Red Lake, Ontario.

Significant mineralization was encountered in three of the first four holes from the December drill program, which also substantially expanded the strike length of the mineralized zone. Highlights from the first four holes received include:

MK-21-024 which assayed 22 meters (“m”) of 2.19 grams-per-tonne (“g/t”) gold (“Au”), which includes 1m of 21 g/t Au at 65m depth, and 1.5m of 24.5 g/t Au at 70.5m depth.
MK-21-027 returned 23m of .59 g/t Au, including 1m of 2.76 g/t Au and 1m of 6.31 g/t Au.
MK-21-030 returned multiple mineralized intercepts, including 3m of 1.41 g/t Au, 6m of 1.07 g/t Au, 6m of 1.17 g/t Au, and 2m of 2.41 g/t Au. These higher-grade results were contained within lengthier sub-1 gram intercepts, including 25m of .52 g/t Au, 10m of .58 g/t Au, 22m of .52 g/t Au, and 12m of .63 g/t Au.

The following table includes significant results from four of the eight holes drilled in December 2021:

DRILL HOLE	UTM_E	UTM_N	ELEV (m)	AZIMUTH	DIP	FROM	TO	LENGTH	Au g/t
MK-21-024	437725	5652960	360	300	-45	54	76	22	2.19
					includes	65	66	1	21.00
					and	70.5	72	1.5	24.50

MK-21-026	437608	5652980	362	190	-50			NSR

MK-21-027	437718	5652792	360	195	-45	13	14	1	1.64
						234	235	1	2.54
						247	270	23	0.59
					includes	234	265	1	2.76
					and	269	270	1	6.31

MK-21-030	437725	5652342	380	350	-50	75	100	25	0.52
					includes	76	77	1	1.84
						90	91	1	1.14
						97	100	3	1.41
					includes	107	117	10	0.58
						111	112	1	3.57
						135	136	1	1.75
						153	154	1	1.12
						165	187	22	0.52
					Includes	173	179	6	1.07
						251	263	12	0.63
					Includes	253	259	6	1.17
					Includes	256	258	2	2.41

“We’re pleased with these results so far, we were definitely successful in expanding the footprint of the mineralized zone,” said president and CEO, Alex Klenman. “It appears that we have a kink in the mineralized trend towards the northwest, which is an intriguing development. We’ll look to continue to chase the mineralization in that direction as there’s a lot of ground up there to work. We’re also encouraged with the mix of higher grade intervals and extended sub and near 1-gram intercepts. These results, as in previous drilling, continue to indicate similarity to the mineralization style over at the Hasaga project, located several kilometers to the east of us,” continued Mr. Klenman.

“This round of drilling was a little more challenging as the mineralization we encountered in the north of Perch Lake displayed a varying degree of alteration to what we’ve been observing in the holes south of the lake,” said VP Exploration, Warren Robb. “Holes drilled out under Perch Lake, on the other hand, resulted in intersecting similar alteration and mineralization as we encountered in holes 18 and 19 to the south,” continued Mr. Robb.

With the mineralization encountered in holes MK-21-027 and MK-21-030, extension of the strike of the gold bearing zone now extends over 450 meters in length. Additional assays from the remaining four holes are expected sometime in the next two weeks.

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Image 1: New sample locations, new showings (red) and historical trenches, recent drill holes, with 2020-2021 drill locations to the south, McKenzie Gold Project, Red Lake, ON

Remaining assay results will be released once received, reviewed, and verified by the Company’s Qualified Person.

Drilling at McKenzie Gold Project

Significant results from these drill programs include:

MK-20-RC-006: 2.75m of 13.25 grams-per-tonne (“g/t”) gold (“Au”), including 1m of 36.20 g/t Au (68.75m to 70.5m)
MK-20-RC-008: 55.5m of 1 g/t Au (67.5m to 123m), including 16m of 1.42 g/t Au, 6m of 2.37 g/t Au, and 9m of 1.14 g/t Au
MK-21-DD-018: 56m of 1.01 g/t Au (13m to 69m), including 21.5m of 1.84 g/t Au, 10m of 3.30 g/t Au, and 1m of 23.1 g/t Au. Other intercepts included 37.6m of 2.78 g/t Au (77m to 115m), including 24.7m of 4.05 g/t Au, 14m of 7.01 g/t Au, and 1m of 94.2 g/t Au.
The entire length of MK-21-DD-018 averaged .99 g/t Au over 198m
MK-21-DD-019: 136m of 1.25 g/t Au (148m to 285m), including 44.9m of 3.00 g/t Au, 15.5m of 5.25 g/t Au, 29.4m of 1.82 g/t Au, and 6m of 5.45 g/t Au. High-grade intercepts included 1m of 59.8 g/t Au, 1m of 15.5 g/t Au, and 1m of 26.7 g/t Au.
Hole MK-21-DD-19 ended in mineralization at 285 meters, with an average grade of the hole returning .74 g/t Au over 283.4m

See Company news releases, September 3, 2020, May 25, 2021, and June 1, 2021, for more details on previous diamond drill programs.

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Figure 2: McKenzie Gold Project, Red Lake, Ontario, with nearby advanced prospects, producers, and past producers

About the McKenzie Gold Project

Heidi Gutte named Chief Financial Officer

The Company has appointed Heidi Gutte as Chief Financial Officer, replacing Zula Kropivnitski who has accepted a position elsewhere. Ms. Gutte specializes in providing corporate finance, financial reporting, consulting, taxation, and other accounting services to both small businesses as well as public companies in various industries.

Ms. Gutte earned her bachelor's degree of computer engineering from the University of Applied Sciences in Brandenburg, Germany. She holds the professional designation of chartered professional accountant (CPA, CGA) and is a member of Chartered Professional Accountants of British Columbia and Canada. Ms. Gutte has had extensive experience as a controller and chief financial officer of numerous publicly traded and private corporations across a variety of sectors.

The Company would like to extend sincere thanks to Ms. Kropivnitski for her years of service and wish her well in her new endeavors.

* Reported lengths are intercepts and are not true widths

About the Company

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in Canada and West Africa. The Company’s primary focus is on its 100%-owned, 98-sq km Dakouli 2 Gold Concession in Burkina Faso, West Africa, and the approximately 1400-ha McKenzie Gold Project, located in Red Lake, Ontario. The Company is focusing on the development of its core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its portfolio.

For more information, please visit nxs.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com