NexGold Mining Corp. Advances with Industrial Approval for Goldboro Gold Project

TORONTO, June 17, 2025 — NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) has announced a significant milestone in its development of the Goldboro Gold Project, located in eastern Nova Scotia. The Government of Nova Scotia has deemed the company’s application for an Industrial Approval (IA) of a Surface Gold Mine to be complete. This approval is a crucial step forward, following the successful release from the Environmental Assessment process in 2022.

The IA is a key permit required for the operation, construction, or reclamation of industrial projects in Nova Scotia, including surface mines. It is part of the environmental legislation under the Environment Act in Nova Scotia, ensuring that projects adhere to specific terms and conditions to mitigate potential adverse effects.

With the application now complete, NexGold anticipates a final review process, expected to conclude within 60 days. This approval is pivotal for NexGold, as it holds 100% ownership of the Goldboro Gold Project, positioning the company to potentially capitalize on its assets in the metals and mining sector.

Despite recent challenges reflected in its financials, with a close price of 0.79 CAD on June 15, 2025, and a 52-week low of 0.61 CAD, NexGold’s market capitalization stands at 112.66 million CAD. The company’s price-to-earnings ratio of -2.75 indicates ongoing financial adjustments, yet the completion of the IA application marks a promising development for its operational prospects.

As NexGold navigates the final stages of the IA process, stakeholders and industry observers will be closely monitoring the project’s progress. The successful completion of this approval could significantly enhance NexGold’s position in the metals and mining industry, offering a forward-looking perspective for investors and partners alike.