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Creating Canada’s Newest & Most-Advanced Developer October 2025 TSX.V: NEXG OTCQX: NXGCF
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TSX.V: NEXG 2 Cautionary Statements Disclaimer This presentation is not, and in no circumstances is it to be construed as, a prospectus, an advertisement, or a public offering of securities. No securities regulatory authority or similar authority has reviewed or in any way passed upon the document or the merits of either company’s securities and any representation to the contrary is an offence. Except where otherwise indicated, the information contained in this presentation has been prepared by NexGold and there is no representation or warranty by NexGold or any other person as to the accuracy or completeness of the information set forth herein. Except as otherwise stated, information included in this presentation is given as of the date hereof and is subject to change without notice. The delivery of this presentation shall not imply that the information herein is correct as of any date after the date hereof. This presentation does not constitute (and may not be construed to be a solicitation or offer by NexGold or its directors, officers, employees, representatives or agents to buy or sell any securities of any person in any jurisdiction, or a solicitation of a proxy of any securityholder or person in any jurisdiction, in each case, within the meaning of applicable laws. All dollar amounts referenced herein, unless otherwise indicated, are expressed in Canadian dollars (C$). The footnotes, endnotes and appendices to this presentation contain important information. Forward-looking Statements Certain information in this presentation contains “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities legislation and applicable United States securities laws (referred to herein as forward-looking statements. Forward-looking statements include, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Company’s property; success of exploration activities; permitting timelines and requirements; requirements for additional capital; environmental requirements; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. Often, but not always, forward-looking information can be identified by the use of words such as “expects,” “plans,” “estimates,” “intends,” “believes,” “could,” “might,” “will”, “budget”, “scheduled”, “forecasts”, “anticipates”, “potential”, “base case” or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Assumptions and factors include: the successful completion of the NexGold/Signal arrangement transaction (including receipt of all regulatory approvals, shareholder and third- party consents) and the debt restructuring (including if the parties are able to reach definitive agreements); the ability of the combined company to complete its planned exploration programs; the absence of adverse conditions at mineral properties; and the price of gold remaining at levels that render mineral properties economic. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the Company’s corporate strategies, mineral resource estimates, potential mineralization and plans for further exploration, which will require additional funding. These forward-looking statements are based on management’s current expectations and beliefs (including the belief in the accuracy of the mineral resource estimate) but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. Information in this presentation is not intended to be a comprehensive review of all matters and developments concerning the Company and Company does not assume any obligation to update, or to publicly announce, any such statements, events or developments, except as required by law. Cautionary Statement Regarding Mineral Resource and Mineral Reserve Estimates This Presentation uses the terms Measured, Indicated and Inferred mineral resources as a relative measure of the level of confidence in the mineral resource and reserve estimates. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimates disclosed in this Presentation may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. It cannot be assumed that all or any part of an Inferred mineral resource will ever be upgraded to an Indicated or Measured mineral resource category; however, it is reasonably expected that the majority of Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration. Mineral resource estimates are classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum's "CIM Definition Standards on Mineral Resources and Mineral Reserves" incorporated by reference into Canadian National Instrument 43-101 – Standards for Disclosure of Mineral Projects (NI 43-101). Under NI 43-101, estimates of Inferred mineral resources may not form the basis of feasibility or prefeasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated mineral resources will lead to mineral reserves that can be mined economically. Technical Disclosure Unless otherwise indicated, NexGold has prepared the technical information in this presentation, including mineral resource and mineral reserve estimates, based on information contained in (1) the prefeasibility study (“PFS”) for the Goliath Gold Complex entitled “Goliath Gold Complex – NI 43-101 Technical Report and Prefeasibility Study” dated March 27, 2023 with an effective date of February 22, 2023.; (2) the feasibility study for the Goldboro Gold Project entitled “NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia” dated January 11, 2022, with an effective date of December 16, 2021; and (3) the mineral resource estimate prepared for Blackwolf Copper and Gold Ltd. for the Niblack Project entitled “2022 Mineral Resource Update for the Niblack Polymetallic Project, Prince of Wales Island, Alaska, USA” dated March 30, 2023 with an effective date of February 14, 2023. For readers to fully understand the information in this presentation, they should read the Technical Reports in their entirety, including all qualifications, assumptions and exclusions that relate to the studies. The Technical Reports are intended to be read as a whole, and sections should not be read or relied upon out of context. The Technical Reports are available under each Company’s issuer profile on SEDAR+ at www.sedarplus.ca, on the OTCQX at www.otcmarkets.com and on their respective websites. Adam Larsen, P.Geo, is a Qualified Person, as defined by the National Instrument 43-101, has reviewed and approved the scientific and technical information of this presentation for the Goliath Gold Complex and Niblack Project. Paul McNeill, P.Geo., is a Qualified Person, as defined by the National Instrument 43-101, has reviewed and approved the scientific and technical information of this presentation for the Goldboro Gold Project.
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TSX.V: NEXG Company Overview NexGold is the result of the acquisition of Blackwolf Copper and Gold Ltd. by Treasury Metals Inc. in 2024 to form NexGold, and the subsequent acquisition of Signal Gold Inc. Transactions combined multiple, partially-permitted, Canadian gold projects into one portfolio to create the next gold-focused mid-tier; team in place to execute on permitting, financing, construction and operations. Each of Goldboro and Goliath have targeted annual production of ~100,000 oz/yr over 10+ years, with opportunities for growth. Royalty financing with Appian deleverages balance sheet and Project Financing LOI for Goldboro provides financing path forward for Goldboro to become next Canadian gold mine. Significant valuation re-rate potential on final permitting and construction decision. 3 Formed Through Strategic M&A; The Next Canadian Gold Mid-Tier
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TSX.V: NEXG Portfolio Overview Goliath (PFS, 2023) Goldboro (FS, 2022) NPV5% (After-Tax) $336M $328M IRR (After-Tax) 25.4% 25.5% Mine Life 13 years 10.9 years Payback Period 2.1 years 2.9 years Avg. Annual Production 91Koz AuEq 100Koz Au AISC US$1,072/oz US$849/oz Au Price Assumption US$1,750 US$1,600 The transaction combines four Canadian and one U.S. project, including the flagship Goliath and Goldboro assets that respective Prefeasibility and Feasibility Studies indicate result in pro forma production of approximately 2.4 Moz AuEq in total 4
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TSX.V: NEXG Management and Board Members Executive Management CFO Orin Baranowsky CEO Kevin Bullock Mr. Bullock is a registered Professional Mining Engineer in the province of Ontario. Board member of B2Gold 25+ years in finance; over $1B in financing for exploration and development at mining companies 5 Amanda Abballe VP, Human Resources Deidre Puddister VP, Sustainability Clinton Swemmer VP, Projects Paul McNeill VP, Explorations Strategic Advisors CEO of the Fiore Group, a private firm managing a board of private equity investments and companies Over 20 years of experience in the capital markets, mineral exploration and development sectors with a focus on enhancing shareholder value Board of Directors Margot Naudie Paul McRae Rob McLeod Andy Bowering Morgan Lekstrom Mary-Lynn Oke Kevin Bullock Jim Gowans Chairman Director Director Director Director Director Director Director Frank Guistra Shawn Khunkhun
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TSX.V: NEXG Capital Market Data Symbol TSXV: NEXG | OTCQX: NXGCF Shares Outstanding (after recent financings and based on pro forma adjustments) 162.2M Warrants ($0.84 - $2.31 exercise price, avg exercise price $1.17) 40.3M Fully Diluted 209.1M Market Capitalization (as of current share price) $278.9M Share Price (October 1, 2025) $1.72 52 Week High/Low $1.82/$0.61 Cash Position (as of June 30, 2025) $8.5M Average Daily Trading Volume (Trailing 3-month average, consolidated Canadian and US Trading) ~1.8mm shares/day Capital Structure 6.8% Frank Giustra 2.9% NEXG Mgmt + BOD 45.5% Institutional 44.9% Retail and Other Analyst Coverage Cormark Securities Inc. Richard Gray Paradigm Capital Lauren McConnell Red Cloud Ron Stewart 6
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TSX.V: NEXG Goliath and Goldboro – Two of the Next Permitted Gold Mines in Canada 7
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TSX.V: NEXG Leading Scale and Grade: The 100%-owned Goldboro project consists of ~285km2 of prospective land within the Goldboro Gold District, representing the largest gold deposit in Nova Scotia. Located 175km east of Halifax, the project has the highest grade undeveloped open pit reserve on the east coast of Canada. Location Advantage: The property has access to significant infrastructure, services and nearby skilled labor, reducing cost requirements. The project is located near Route 316, accessed via a secondary gravel road that crosses the property. Environmental Approval: Provincial Environmental Assessment Approval for the project was received in August 2022; Mining and Crown Leases approved in May 2025; Schedule 2 Amendment approved July 2025; Industrial Approval approved in August 2025; Fisheries Act Authorization applications filed, and positive initial feedback commenced. Community Engagement: The Company signed an historic Benefits Agreement with the Assembly of Nova Scotia Mi’kmaw Chiefs (ANSMC) in December 2024, representing a significant opportunity to advance the project in a mutually beneficial manner. Exploration Potential: The project has growth potential in all directions, notably to the west and toward the past-producing Dolliver Mountain gold mine where the Company has commenced geophysical surveys that have defined mineralization ~1.7km to the west of current deposits, including near-surface mineralization. In total, mineralization is now traced for over 3.4km of strike length at Goldboro, with the deepest hole drilled at just 550m vertical while remaining open. The Company continues to target exploration potential with analysis of historical data and new geophysical surveys leading to the recent identification of four high-priority growth targets. Resource Classification Tonnes (kt) Au (g/t) Au (koz) Measured 9,255 3.56 1,059 Indicated 12,338 3.84 1,523 M&I 21,593 3.72 2,583 Inferred 3,181 4.73 484 Over 8Moz of known gold mineralization in 11 different deposits within a 150km radius of the Goldboro project Prolific & Stable Gold Jurisdiction Goldboro Gold Project 8
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TSX.V: NEXG Goldboro: A Robust Open Pit Project C$328 MILLION, IRR 25.5% ~11 YEARS ~100,000 OUNCES C$271 MILLION 1.2 NPV TO INITIAL CAPITAL 95.8% US$773 per OUNCE US$849 per OUNCE AFTER-TAX NPV 5% (US$1,600/oz Gold Price) OPEN PIT MINE LIFE AVERAGE ANNUAL LOM GOLD PRODUCTION INITIAL CAPITAL LOM OPERATION CASH COST PER OUNCE LOM AISC PER OUNCE AVERAGE GOLD RECOVERY AFTER-TAX IRR (US$1,600/oz Gold Price) 9
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TSX.V: NEXG Feasibility Study The 2022 Goldboro project FS indicates a ~11-year open pit mine life with average annual gold production of 100Koz Au,. C$271M in initial capital costs and 95.8% average gold recovery. Goldboro’s FS plan outlines a start to production from the open pit, providing lead time to drill, upgrade and grow underground mineral resources with underground development beginning in year 6, a capital efficient phased approach to production. The FS also highlights project infrastructure including a fully-lined tailings storage facility with capacity of 16.4M tonnes of tailings and 10.8M tonnes of co-placed waste rock, employee accommodation for up to 175 personnel during operations and 350 during construction, a CIP process plant, and water management. With all this infrastructure contained in one watershed, environmental impacts and permitting complexity are expected to be reduced significantly. FS cites a US$1,600/oz Au gold price, leaving ample leverage to spot prices. For example, a US$1,920/oz gold price (still below spot prices) would boost NPV (5%) from C$328M to over C$556M for an after-tax IRR of 37.5% and a 2.2-year payback period, indicating significant leverage to higher gold prices. FS NPV >C$1B at Spot Prices General LOM Total Avg. Gold Price (US$/oz) $1,600 Mine Life (Years) 10.9 Production Avg. Mill Feed Grade (g/t) 2.26 Recovery Rate Au (%) 95.8% Overall Strip Ratio Waste:ore 8.0 Avg. Annual Prod. – Au (koz) 100 Operating Costs Open Pit Mining Cost (C$/t milled) $4.99 Processing Cost (C$/t milled) $13.45 Refining & Transport (C$/t milled) $4.23 Total Operating Costs (C$/t milled) $67.05 Cash Costs (US$/oz Au) $773 AISC (US$/oz Au) $849 Capital Costs Initial Capital (C$M) $271.0 Reclamation and Other (C$M) $50.3 Sustaining Capital (C$M) $63.1 NPV After-Tax NPV (5%) (C$M) $328 After-Tax IRR % 25.5% Payback (Years) 2.9 (10,000) 10,000 30,000 50,000 70,000 90,000 110,000 130,000 ($250,000) ($150,000) ($50,000) $50,000 $150,000 $250,000 $350,000 $450,000 YR-2 YR-1 YR1 YR2 YR3 YR4 YR5 YR6 YR7 YR8 YR9 YR10 YR11 Gold Production (OZ) CDN $ Gold Production After-tax Cash Flow Cumulative After-tax Cash Flow @ US $1,600 Au, 0.80 Exchange Rate 10
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TSX.V: NEXG Goldboro: Exploration Potential Selected composited highlights from the drill program include: 26.09 g/t gold over 8.9 metres (105.5 to 114.4 metres) in hole BR-23- 393 including 79.18 g/t gold over 0.5 metres and 371.59 g/t gold over 0.5 metres; 20.59 g/t gold over 3.0 metres (122.4 to 125.4 metres) in hole BR-23- 383 including 113.90 g/t gold over 0.5 metres; 11.79 g/t gold over 4.1 metres (49.9 to 54.0 metres) in hole BR-23- 386 including 47.23 g/t gold over 1.0 metres; 7.29 g/t gold over 2.5 metres (103.0 to 105.5 metres) in hole BR-23- 382; and 4.84 g/t gold over 3.0 metres (54.9 to 57.9 metres) in hole BR-23-385. Significant high grades were also intersected, including: 130.70 g/t gold over 0.5 metres at 79.9 metres in hole BR-22-380; 109.91 g/t gold over 0.5 metres at 92.8 metres in hole BR-23-399; 77.70 g/t gold over 0.5 metres at 123.0 metres in hole BR-22-379; 21.00 g/t gold over 1.0 metres at 210.3 metres in hole BR-22-377; and 28.10 g/t gold over 0.5 metres at 112.1 metres in hole BR-23-381. 11
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TSX.V: NEXG Scale Potential: Opportunity at Depth, Grade Distribution 12
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Goliath Gold Complex District Scale: World Class Infrastructure and Talent: Environmental Approval: Surrounded by major gold producers like Kinross, Agnico Eagle, Barrick and more owning nearby multi-million-ounce Au projects Exploration Potential: Active Gold District TSX.V: NEXG 1 3 Resource Classification Tonnes (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Measured 6,393 1.33 273.6 5.17 1,062.7 Indicated 61,318 0.95 1,865.0 2.92 2,459.3 M&I 67,711 0.98 2,138.6 3.42 3,522.0 Inferred 32,571 0.75 782.8 0.84 91.5
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Goliath Infrastructure World class infrastructure at our doorstep, including: Trans-Canada Highway Ontario Provincial Hwy 72 CP Rail Hydro Ready access to experienced and available workforce in Dryden and Sioux Lookout Environmental Assessment approval received for Goliath Potential co-development opportunity at Goldlund as a past producer TSX.V: NEXG Trans-Canada Highway HWY 72 14
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TSX.V: NEXG Goliath: A Robust Open Pit-Underground Project C$336 MILLION, IRR 25.4% 13+ YEARS ~109,000 OUNCES C$335 MILLION 1.0 NPV TO INITIAL CAPITAL 92.8% US$892 per OUNCE US$1,037 per OUNCE AFTER-TAX NPV 5% (US$1,750/oz Gold Price) MINE LIFE AVERAGE ANNUAL GOLD PRODUCTION YR 1-9 INITIAL CAPITAL LOM OPERATION CASH COST PER OUNCE YR 1-9 LOM AISC PER OUNCE YR 1-9 AVERAGE GOLD RECOVERY AFTER-TAX IRR (US$1,750/oz Gold Price) 15
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Niblack 6 Mt NI 43-101 mineral resource, updated February 2023 Geological reinterpretation confirmed by 2021 drilling now provides significant expansion potential in multiple directions 2020/2021 drill highlights includes grades up to 4.93 g/t Au, 145 g/t Ag and 5.18% Cu Existing production-sized underground portal, allowing for drilling from underground Excellent metallurgy Mineral Resource Classification Zone Tonnes Cu % Au g/t Ag g/t Zn % Cu Mlbs Au oz Ag oz Zn Mlbs Indicated Lookout 5,391,000 0.92 1.88 30.0 1.72 108.9 326,600 5,165,200 204.9 Trio 460,000 1.16 1.30 20.0 1.75 11.8 19,200 293,800 17.7 Total 5,851,000 0.94 1.83 29.0 1.73 120.7 345,800 5,462,000 222.6 Inferred Lookout 159,000 0.93 1.63 18.0 1.31 3.3 8,300 93,300 4.6 Trio 55,000 0.91 1.20 18.0 1.61 1.1 2,100 31,700 1.9 Total 214,000 0.93 1.52 18.0 1.38 4.4 10,400 125,000 6.5 TSX.V: NEXG 16
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TSX.V: NEXG Comparable Peers Closing the Valuation Gap: Enhancing Market Position Market Cap (C$M) 17 $1,131 $744 $612 $525 $425 $344 $331 $279 $174 $129 $69 $0 $250 $500 $750 $1,000 $1,250 $2,945 P/NAV Valuations at US$2,000 Gold 0.00x 0.20x 0.40x 0.60x 0.80x 1.00x 1.20x 1.40x NexGold is well-positioned, with two near-permitted projects in Canada, to close the valuation gap with its peers in the mining sector, representing significant upside potential for shareholders. Source: Company reports, as of October 1, 2025Source: Company reports, as of October 1, 2025 2.30x
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TSX.V: NEXG Key Investment Takeaway Unified Strengths: Combined market cap of >C$250 million, reflecting the scale and enhanced capabilities of the merged entity, with an experienced mid-development and operating team to execute on strategy. Enhanced Project Portfolio: Partially-permitted projects with strong First Nations relationships like Goldboro (completed IBA, Provincial EA received, approved Crown Land Lease and License, Industrial Approval received, Schedule 2 amendment approved) and Goliath (Federal EA) are increasingly rare in Canada. Strong Financial Position: Debt free as a result of recently announced royalty financing – deleveraging balance sheet; project financing LOI with Appian provides clear financing path forward for Goldboro. Growth and Value Creation: Leverages complementary assets and expertise, targeting operational synergies and streamlined management processes. Robust Market Presence: The multi-asset structure increases trading liquidity and enhances investor interest with a more substantial market presence and access to capital. Commitment to Sustainability and Innovation: Continued investment in environmental stewardship and cutting-edge mining technologies to optimize production and reduce environmental impact. Strategic Exploration Initiatives: Commitment to extensive exploration programs, notably the ongoing developments at Goldboro and Goliath, which indicate potential for mineral resource and reserve expansion. 18
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Contact Call Us Chat with us TSX.V: NEXG 19
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Appendix TSX.V: NEXG 20
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Notes on Mineral Reserves: 1. Mineral reserves with an effective date of December 31, 2022 are founded on and included within the mineral resource estimates, with an effective date of January 17, 2022. 2. Mineral reserves were developed in accordance with CIM Definition Standards (2014). 3. Open pit mineral reserves incorporate 10%, 7% and 9% dilution for Goliath, Goldlund and Miller, respectively. Open pit mineral reserves include 1% loss for Goliath and Miller, no losses are included for Goldlund. Goliath underground mineral reserves include 5% dilution and 0% loss for development. For stopes at Goliath underground, the mineral reserves include 15% dilution (both downhole and uphole stopes) and 90% (downhole) and 80% (uphole) recovery. 4. Open pit mineral reserves are reported based on open pit mining within designed pits above cut-off values of C$15.22/t, C$16.00/t and C$23.63/t for Goliath, Goldlund and Miller, respectively. Goliath underground mineral reserves are reported based on underground mining within designed underground stopes above a mill feed cut-off value of C$107.66/t (inclusive of 15% mining dilution). The cut-off values are based on a gold price of US$1,550/oz Au, a silver price of US$22, transportation costs of C$5/oz Au, payabilities of 99% Au and 97% Ag, LOM average gold recoveries of 94.2% for Goliath, 94.3% for Goldlund and 94.0% for Miller, and a silver recovery of 60% for Goliath. 5. Underground mineral reserves following Year 13 have been removed from the LOM plan and thus are excluded in the mineral reserve table above. Some low grade Goldlund material above cut-off is not fed to the plant and therefore not included in the mineral reserves. 6. The Qualified Person for the open pit mineral reserve estimate is Colleen MacDougall, Peng; and the Qualified Person for the underground mineral reserve estimate is Sean Kautzman, Peng, both are SRK Consulting (Canada) Inc. employees. 7. Rounding may result in apparent summation differences between tonnes, grade and contained metal. Deposit Quantity (‘000 tonnes) Grade Gold (g/t) Contained Gold (‘000 oz) Grade Silver (g/t) Contained Silver (‘000 oz) Open Pit – Goliath Proven 3,969 1.05 134 3.22 410 Probable 5,580 0.67 119 2.20 395 Proven & Probable 9,549 0.83 254 2.62 805 Open Pit – Goldlund Proven - - - - - Probable 16,256 1.19 621 - - Proven & Probable 16,256 1.19 621 - - Open Pit – Miller Proven - - - - - Probable 738 1.03 24 - - Proven & Probable 738 1.03 24 - - Underground – Goliath Proven 596 3.96 76 16.73 321 Probable 3,180 2.85 292 5.85 598 Proven & Probable 3,776 3.03 368 7.56 918 Total Proven 4,565 1.43 210 4.98 731 Probable 25,754 1.28 1,057 1.20 993 Total Proven & Probable 30,319 1.30 1,267 1.77 1,724 TSX.V: NEXG OTCQX: NXGCF Goliath Gold Complex NI 43-101 Mineral Reserve Estimate 21
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Goliath Gold Complex NI 43-101 Mineral Resource Estimate Notes on Mineral Resources : 1. Mineral Resources were estimated by ordinary kriging by Dr. Gilles Arseneau, associate consultant of SRK Consulting (Canada) Inc., Mineral Resources were prepared in accordance with NI 43-101 and the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014) and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (2019). This estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. Mineral Resources that are not mineral reserves do not have demonstrated economic viability. 2. Mineral Resource effective date January 17, 2022. 3. Goliath Open Pit Mineral Resources are reported within an optimized constraining shell at a cut-off grade of 0.25g/t gold that is based on a gold price of US$1,700/oz, a silver price of US$23/oz, and a gold and silver processing recovery of 93.873*Au(g/t)^0.021 and 60% respectively. 4. Goldlund Open Pit Mineral Resources are reported within an optimized constraining shell at a cut-off grade of 0.3g/t gold that is based on a gold price of US$1,700/oz and a gold processing recovery of 90.344xAu(g/t)^0.0527. 5. Miller Open Pit Mineral Resources are reported within an optimized constraining shell at a cut-off grade of 0.3 g/t gold that is based on a gold price of US$1,700/oz and a gold processing recovery of 93.873*Au(g/t)^0.021. 6. Goliath Underground Mineral Resources are reported inside shapes generated from Deswick Mining Stope Optimiser (DSO) at a cut-off grade of 2.2g/t gold that is based on a gold price of US$1,700/oz, a silver price of US$23/oz, and a gold and silver processing recovery of 93.873*Au(g/t)^0.021 and 60% respectively. 7. Goldlund Underground Mineral Resources are reported inside DSO shapes at a cut-off grade of 2.2g/t gold that is based on a gold price of US$1,700/oz and a gold processing recovery of 90.344xAu(g/t)^0.0527. 8. Gold and Silver assays were capped prior to compositing based on probability plot analysis for each individual zones. Assays were composited to 1.5 m for Goliath, 2.0 m for Goldlund and 1.0 m for Miller. 9. Excludes unclassified mineralization located within mined out areas. 10. Silver grade and ounces are derived from the Goliath tonnage only. 11. Goliath Open Pit and Goldlund/Miller cut-off grades are 0.25g/t and 0.30g/t, respectively. 12. All figures are rounded to reflect the estimates’ relative accuracy, and totals may not add correctly. 13. Mineral resources are inclusive of mineral reserves. Deposit Cut-off Grade (g/t) Quantity (‘000 tonnes) Grade Gold (g/t) Contained Gold (‘000 oz) Measured Resources Goliath Open Pit 0.25 6,223 1.20 240 Goliath Underground 2.2 170 6.24 34 Total Measured 6,393 1.33 274 Indicated Resources Goliath Open Pit 0.3 23,081 0.75 559 Goliath Underground 2.2 2,550 3.55 291 Goldlund Open Pit 0.3 33,353 0.85 911 Goldlund Underground 2.2 222 4.06 29 Miller Open Pit 0.3 2,112 1.10 75 Total Indicated 61,318 0.95 1,865 Total Measured and Indicated 67,711 0.98 2,139 Inferred Resources Goliath Open Pit 0.3 3,330 0.66 70 Goliath Underground 2.2 48 2.95 5 Goldlund Open Pit 0.3 28,833 0.73 680 Goldlund Underground 2.2 222 3.26 23 Miller Open Pit 0.3 138 1.01 5 Total Inferred 32,571 0.75 783 TSX.V: NEXG OTCQX: NXGCF 22
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TSX.V: NEXG Goliath Pre-Feasibility Study The February 2023 Prefeasibility Study for Goliath considers a 13-year mine life with average production >100Koz Au in the first nine years. The PFS outlines a 6.5Ktpd gravity-CIL plant with gold recoveries of 92.8%. The PFS represents significant increases to production and other operational metrics compared to the project’s 2021 PEA, with the project now expected to recover a total of 1.2Moz of gold over its life. The PFS uses a gold price of US$1,750/oz, a silver price of US$21/oz and FX rates of $0.75, offering significant upside on spot prices. At US$1,950 Au, the PFS represents a post-tax NPV(5%) of C$493mm, a 33.5% IRR and a 2.3-year payback period, indicating a significant leverage to higher gold prices. The PFS characterizes the project as technically simple, enhancing Goliath’s feasibility and efficiency. Of note is that the PFS does not account for prospective exploration upside that the Company is currently executing on via a drill campaign that has already yielded results at the Fold Nose area, among others, including high-grade mineralization such as 10.98 g/t Au over 10.5m and 6.97 g/t Au over 7.1m. PFS NPV >C$1B at Spot Prices General LOM Total Avg. Gold Price (US$/oz) $1,750 Silver Price (US$/oz) $21 Mine Life (Years) 13 Production Head Grade Au (g/t) 1.30 Head Grade Ag (g/t) 1.77 Recovery Rate Au (%) 92.8% Recovery Rate Ag (%) 60.0% Avg. Annual Prod. - Au (koz) 90 Avg. Annual Prod. – Ag (koz) 80 Avg. Annual Prod. – AuEq (koz) 91 Operating Costs Mining Cost (C$/t milled) $32.83 Processing Cost (C$/t milled) $11.34 G&A Cost (C$/t milled) $3.54 Total Operating Costs (C$/t milled) $47.71 Cash Costs (US$/oz Au) $935 AISC (US$/oz Au) $1,072 Capital Costs Initial Capital (C$M) $335 Closure Capital (C$M) $29 Sustaining Capital (C$M) $198 NPV After-Tax NPV (5%) (C$M) $336 After-Tax IRR % 25.4% Payback (Years) 2.8 Source: Company Disclosures, S&P CapIQ 1. PFS equivalent metal pricing include US$1,750/oz Au, and US$21.0/oz Ag Goliath LOM Au + Ag Production 23
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Goliath Gold Deposit Mineral Resource Estimate 1. Refer to the Notes on the Mineral Resource Estimate in slide 20 of this Presentation Goliath Open Pit Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Ag (g/t) Ag koz Measured 0.25 6,223 1.20 239.5 4.70 940.6 Indicated 0.25 23,081 0.75 559.4 2.53 1,878.5 Meas+ Ind 0.25 29,304 0.85 798.9 2.99 2,819.1 Inferred 0.25 3,330 0.66 70.2 0.80 85.2 Goliath Underground Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Ag (g/t) Ag koz Measured 2.2 170 6.24 34.1 22.34 122.1 Indicated 2.2 2,550 3.55 291.0 7.08 580.8 Meas+ Ind 2.2 2,720 3.72 325.1 8.04 702.9 Inferred 2.2 48 2.95 4.6 4.06 6.3 1. Refer to the Notes on the Mineral Resource Estimate in slide 24 of this Presentation TSX.V: NEXG OTCQX: NXGCF 24
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Goldlund Deposit Mineral Resource Estimate 1. Refer to the Notes on the Mineral Resource Estimate in slide 20 of this Presentation Goldlund Open Pit Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Measured 0.3 0 0.00 0 Indicated 0.3 33,353 0.85 911.0 Meas+ Ind 0.3 33,353 0.85 911.0 Inferred 0.3 28,833 0.73 680.2 Goldlund Underground Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Measured 2.2 0 0.00 0 Indicated 2.2 222 4.06 29.0 Meas+ Ind 2.2 222 4.06 29.0 Inferred 2.2 222 3.26 23.3 1. Refer to the Notes on the Mineral Resource Estimate in slide 24 of this Presentation TSX.V: NEXG OTCQX: NXGCF 25
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Miller Deposit Mineral Resource Estimate 1. Refer to the Notes on the Mineral Resource Estimate in slide 24 of this Presentation SUCCESSFUL CONVERSION of more than 90% of Inferred material to Indicated category Miller Open Pit Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Measured 0.3 0 0.00 0 Indicated 0.3 2,112 1.10 74.6 Meas+ Ind 0.3 2,112 1.10 74.6 Inferred 0.3 138 1.01 4.5 TSX.V: NEXG 26
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Goliath Open Pit Cut-Off Grade Sensitivity 1. Refer to the Notes on the Mineral Resource Estimate in slide 24 of this Presentation Class Goliath Open Pit (January 17, 2022) Cut-off Tonnes Au Grade Au (g/t) (t) (g/t) (Oz) Measured >0.6 2,824,000 2.18 197,800 >0.5 3,321,000 1.93 206,600 >0.4 4,122,000 1.65 218,100 >0.3 5,397,000 1.34 232,200 >0.25 6,223,000 1.20 239,500 >0.2 7,092,000 1.08 245,800 Indicated >0.6 8,441,000 1.41 384,000 >0.5 10,369,000 1.25 417,800 >0.4 13,452,000 1.07 462,000 >0.3 18,966,000 0.86 523,200 >0.25 23,081,000 0.75 559,400 >0.2 28,168,000 0.66 596,100 Inferred >0.6 1,185,000 1.16 44,000 >0.5 1,477,000 1.04 49,200 >0.4 2,003,000 0.88 56,700 >0.3 2,785,000 0.73 65,500 >0.25 3,330,000 0.66 70,300 >0.2 4,095,000 0.58 75,700 Class Goldlund Open Pit (January 17, 2022) Cut-off Tonnes Au Grade Au (g/t) (t) (g/t) (Oz) Measured >0.6 0 0.00 0 >0.5 0 0.00 0 >0.4 0 0.00 0 >0.3 0 0.00 0 >0.25 0 0.00 0 >0.2 0 0.00 0 Indicated >0.6 15,489,000 1.34 667,400 >0.5 19,594,000 1.17 739,500 >0.4 25,261,000 1.01 820,900 >0.3 33,353,000 0.85 911,000 >0.25 38,706,000 0.77 958,100 >0.2 45,218,000 0.69 1,005,000 Inferred >0.6 13,903,000 1.06 471,800 >0.5 17,956,000 0.94 542,800 >0.4 22,850,000 0.83 613,300 >0.3 28,833,000 0.73 680,200 >0.25 32,137,000 0.69 709,300 >0.2 35,569,000 0.64 734,100 Class Miller Open Pit (January 17, 2022) Cut-off Tonnes Au Grade Au (g/t) (t) (g/t) (Oz) Measured >0.6 0 0.00 0 >0.5 0 0.00 0 >0.4 0 0.00 0 >0.3 0 0.00 0 >0.25 0 0.00 0 >0.2 0 0.00 0 Indicated >0.6 1,286,000 1.52 63,000 >0.5 1,510,000 1.38 66,900 >0.4 1,794,000 1.23 71,100 >0.3 2,112,000 1.10 74,600 >0.25 2,302,000 1.03 76,300 >0.2 2,503,000 0.97 77,800 Inferred >0.6 80,000 1.43 3,700 >0.5 94,000 1.30 3,900 >0.4 112,000 1.17 4,200 >0.3 138,000 1.01 4,500 >0.25 151,000 0.95 4,600 >0.2 163,000 0.89 4,700 TSX.V: NEXG OTCQX: NXGCF 27
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Goliath Comparison Between 2022 MRE and 2021 PEA MRE 1. The reader is cautioned not to misconstrue this tabulation as a Mineral Resource estimate. Listed Gold ounces, grades and tonnes are shown for comparison purposes only 2. Mineral Resource statement, including a breakdown of contained metal ounces and grades by gold and silver, can be found in slide 28 of this Presentation 3. Mineral Resources are reported above a cut-off grade in which cut-off grade accounts for metallurgical recoveries of Au, and Ag as well as underlying cost and metal price assumptions 4. The gold (US$1,700/oz) and silver (US$23/oz) price assumptions used in the MRE are consistent with the metal price assumptions employed within the PEA MRE 5. Additional information on the 2021 PEA MRE is set out in the PEA, available under the Company profile at www.sedarplus.ca. Comparison - Goliath Gold Complex Total Deposit Type Class Cut-Off Grade Tonnes (kt) Au (g/t) Au (Oz) 2021 PEA MRE 2022 MRE 2021 PEA MRE 2022 MRE 2021 PEA MRE 2022 MRE 2021 PEA MRE 2022 MRE Goliath Open Pit Meas 0.25 0.25 1,471 6,223 1.90 1.20 90,000 239,500 Goliath Underground Meas 1.60 2.20 98 170 4.94 6.24 16,000 34,100 Total Measured 1,569 6,393 2.09 1.33 105,000 273,600 Goliath Open Pit Ind 0.25 0.25 26,956 23,081 0.87 0.75 757,000 559,400 Goliath Underground Ind 1.60 2.20 2,592 2,550 3.16 3.55 263,000 291,000 Goldlund Open Pit Ind 0.26 0.30 24,300 33,353 1.07 0.85 840,000 911,000 Goldlund Underground Ind ND 2.20 0 222 ND 4.06 0 29,000 Miller Open Pit Ind ND 0.30 0 2,112 ND 1.10 0 74,600 Total Indicated 53,848 61,318 1.07 0.95 1,860,000 1,865,000 Total Measured & Indicated 55,417 67,711 1.10 0.98 1,965,000 2,138,600 Goliath Open Pit Inf 0.25 0.25 3,644 3,330 0.65 0.66 76,000 70,200 Goliath Underground Inf 1.60 2.20 704 48 2.75 2.98 62,000 4,600 Goldlund Open Pit Inf 0.26 0.30 14,400 28,833 0.56 0.73 260,000 680,200 Goldlund Underground Inf 1.60 2.20 233 222 6.80 3.26 51,000 23,300 Miller Open Pit Inf 0.26 0.30 1,981 138 1.24 1.01 79,000 4,500 Total Inferred 20,962 32,571 0.78 0.75 528,000 782,800 TSX.V: NEXG OTCQX: NXGCF 28
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Goliath Input Parameter Comparison – 2022 MRE vs. 2021 PEA MRE 1. Additional information on the 2021 PEA MRE is set out in the PEA, available under the Company profile at www.sedarplus.ca. See Slide 24 of this Presentation for additional information on the 2022 MRE. Parameters Units 2021 PEA MRE 2022 MRE Gold Price $/oz Au 1,700 1,700 Silver Price $/oz Ag 23 23 US$ to CAD 0.75 0.75 Recovery / Regression Au Goliath % 95.5 93.873*Au^0.021 Recovery / Regression Au Goldlund % 89 90.344xAu^0.0527 Recovery / Regression Au Miller % 89 93.873*Au^0.021 Recovery Ag Goliath % 62.6 60 Goliath Open Pit Cut-off Grade g/t 0.25 0.25 Goldlund Open Pit Cut-off Grade g/t 0.26 0.30 Miller Open Pit Cut-off Grade g/t 0.26 0.30 Goliath Underground Cut-off Grade g/t 1.60 2.20 Goldlund Underground Cut-off Grade g/t 1.60 2.20 TSX.V: NEXG OTCQX: NXGCF 29
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Goliath PFS Economic Sensitivity Analysis Significant leverage to gold price $493M NPV5% post-tax at US$1,950 gold price Gold Price US$/Oz Post-tax NPV5% Base Case Initial Capex Total OPEX FX (-20%) (+20%) (-20%) (+20%) (-10%) (+10%) $1,550 $178 $242 $114 $321 $30 $315 $64 $1,650 $257 $321 $193 $400 $113 $402 $137 $1,750 $336 $400 $271 $479 $192 $490 $209 $1,850 $414 $478 $350 $557 $271 $577 $281 $1,950 $493 $557 $428 $635 $349 $664 $352 Gold Price US$/OZ Post-tax IRR Base Case Initial CAPEX Total OPEX FX (-20%) (+20%) (-20%) (+20%) (-10%) (+10%) $1,550 16.6% 23.8% 11.4% 24.0% 7.2% 24.3% 9.4% $1,650 21.1% 29.1% 15.4% 28.1% 13.0% 29.0% 14.1% $1,750 25.4% 34.2% 19.3% 32.1% 17.9% 33.4% 18.4% $1,850 29.6% 39.0% 22.9% 35.9% 22.5% 37.6% 22.4% $1,950 33.5% 43.7% 26.3% 39.9% 26.9% 41.7% 26.2% TSX.V: NEXG OTCQX: NXGCF 30
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TSX.V: NEXG Goldboro: 2021 Mineral Resource Estimate Mineral Resource Type Gold Cut-off (g/t gold) Category Tonnes Grade (g/t gold) Gold Troy Ounces Open Pit 0.45 Measured 7,680,000 2.76 681,000 Indicated 7,988,000 2.89 741,000 Measured + Indicated 15,668,000 2.82 1,422,000 Inferred 975,000 2.11 66,000 Underground 2.40 Measured 1,576,000 7.45 377,000 Indicated 4,350,000 5.59 782,000 Measured + Indicated 5,925,000 6.09 1,159,000 Inferred 2,206,000 5.89 418,000 Combined Open Pit and Underground* 0.45 and 2.40 Measured 9,255,000 3.56 1,058,000 Indicated 12,338,000 3.84 1,523,000 Measured + Indicated 21,593,000 3.72 2,581,000 Inferred 3,181,000 4.73 484,000 * Combined Open Pit and Underground Mineral Resources; The Open Pit Mineral Resource is based on a 0.45 g/t gold cut-off grade, and the Underground Mineral Resource is based on 2.40 g/t gold cut-off grade. Mineral Resource Estimate Notes 1. Mineral Resources were prepared in accordance with NI 43-101 and the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014) and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (2019). Mineral Resources that are not mineral reserves do not have demonstrated economic viability. This estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. 2. Mineral Resources are inclusive of Mineral Reserves. 3. Open Pit Mineral Resources are reported at a cut-off grade of 0.45 g/t gold that is based on a gold price of C$2,000/oz (~US$1,600/oz) and a metallurgical recovery factor of 89% around cut-off as calculated from ((GRADE-(0.0262*LN(GRADE)+0.0712))/GRADE*100)-0.083. 4. Underground Mineral Resource is reported at a cut-off grade of 2.60 g/t gold that is based on a gold price of C$2,000/oz (~US$1,600/oz) and a gold processing recovery factor of 97%. 5. Assays were variably capped on a wireframe-by-wireframe basis. 6. Specific gravity was applied using weighted averages to each individual wireframe. 7. Effective date of the Mineral Resource Estimate is November 15, 2021. 8. All figures are rounded to reflect the relative accuracy of the estimates and totals may not add correctly. 9. Excludes unclassified mineralization located within mined out areas. 10. Reported from within a mineralization envelope accounting for mineral continuity. November 2021 Mineral Resource based on: 681 surface and underground drill holes A total of 121,540m of diamond drilling, including 55,803m have been conducted by the Company High quality Mineral Resource with Significant Growth Potential Immediate surface mineralization potential to the west demonstrated by recent drilling and geophysical IP Surveys Recently completed 12,000m diamond drill program 27,200ha (272 km2) including a 28km strike length along the Upper Seal Harbour trend and 23km in the Lower Seal Harbour trend 31
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TSX.V: NEXG Goldboro: Significant Mineral Resource Growth Note: 2021 FS Data – To be updated High Quality Mineral Resource • A total of 121,540m of diamond drilling, including 55,803m conducted by the Company • 681 surface and underground drill holes • Use of Bulk Sample Data and historical workings to determine plunge • Recognition of significance of disseminated mineralization • Use of Dynamic Anisotropy • Constrained open pits were designed using only Measured and Indicated Resources Continued Potential for Further Resource Growth • Infill Drilling from March 2022 targeted in-pit Inferred Mineral Resources to upgrade categorization and potentially increase revenue and reduce stripping ratio • Completed 50 Line Km IP Geophysical survey to target extension of the deposit along strike to the west of the existing Mineral Resource • Largest ever growth exploration programs of 12,000m recently drilled to the west of the current mineral resource showing growth extension -300,000 200,000 700,000 1,200,000 1,700,000 2,200,000 2,700,000 3,200,000 2017 2018 2019 Mar-21 Dec-21 UG M+I UG Inferred OP M+I OP Inferred Probable Mineral Reserves of 1,150,200 ounces of gold (15.8 million tonnes @ 2.26g/t Au) 0 1.5 3 4.5 6 7.5 2017 2018 2019 Mar-21 Dec-21 UG Average Grade OP Average Grade g/t 32
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TSX.V: NEXG Goldboro: Infrastructure and Facilities Infrastructure contained in a single watershed Fully-lined Tailings Storage Facility designed for 16.4 million tonnes of tailings and 10.8 million tonnes of co- placed Waste Rock Employee Accommodation Facilities to house up to 175 personnel during operations, 350 personnel during construction. CIP Process Plant (including gravity circuit) Diversion of public road access Waste Rock Storage areas designed for 122 million tonnes of waste Organic stockpile areas Water Management Limiting infrastructure to one watershed is expected to reduce environmental impacts and simplify permitting 33
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TSX.V: NEXG Phased-Development Approach for Long Life Mine The Company is approaching the development of Goldboro in a disciplined, capital efficient, phased approach, with the Phase I Feasibility Study focused on the surface mining component of a longer-term plan that would incorporate underground mining into the Project Starting with open pit mining provides lead time to drill off, upgrade and grow underground mineral resources Based on the June 2021 Preliminary Economic Assessment, UG development would start in Year 6 The Phase II development is expected to take 18-24 months for underground production to start up Based on the PEA, the potential feed split would then be 2,200 t/d from the pit, 1,800 t/d from underground 34
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TSX.V: NEXG Goldboro: Gold Price Leverage The Feasibility Study indicates a robust Project with strong economics at US$1,600 gold (C$2,000), with significant leverage in an increasing gold price environment At a US$1,920 gold price (C$2,400), the after-tax NPV 5% of Goldboro increases to over $556 million, with an after-tax IRR of 37.5% and a payback period of only 2.2 years At a CAD$3,000 per ounce gold price, lower than the current market price, the project would generate incremental revenue of over C$880 million Description Unit Net Present Value (C$ M) % Variation % -20% -10% 0% +10% +20% Au Price US$/oz US$1,280 US$1,440 US$1,600 US$1,760 US$1,920 C$/oz C$1,600 C$1,800 C$2,000 C$2,200 C$2,400 Discount Rate 0% C$M 219 274 529 684 839 3% C$M 140 269 398 526 654 5% C$M 98 214 328 442 556 8% C$M 47 146 243 340 437 10% C$M 20 110 197 285 372 IRR % 11.7% 18.9% 25.5% 31.7% 37.5% Payback Period years 6.1 4.7 2.9 2.5 2.2 35
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TSX.V: NEXG Targeting the Expansion of the Goldboro Gold District Opportunity for further regional mineral resource growth based on ~4,000-line kilometre airborne magnetic and very low frequency (“VLF”) electromagnetic surveys Survey indicates numerous geophysical anomalies associated with both the Goldboro and Lower Seal Harbour Trends, a combined 51km of strike potential The preliminary analysis of the historical data along with recently completed airborne and ground geophysical surveys has led to the identification of an initial four high-priority growth targets: the Stewart, Fowler, Armstrong and Hurricane targets The Company has initiated a geological mapping and prospecting program to further refine and test new targets and develop detailed exploration plans to ultimately drill test the highest priority targets 36
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TSX.V: NEXG Scale Upside: Near-Surface Mineral Resource Growth Potential Opportunity for mineral resource growth to the west, towards the past-producing Dolliver Mountain gold mine Goldboro has completed a 50-line kilometre Induced Polarization (IP) geophysical survey for 1.1km west of previous Goldboro drilling, towards and through the historic Dolliver Mountain Gold Mine The IP survey has defined mineralization to the west of the current deposit and has identified parallel signatures These anticline /saddle reef are analogous to the Victorian Goldfields, which are known to continue at depth for multiple kilometres 37
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TSX.V: NEXG Near-Surface Gold Discovery – Dolliver Mountain Continued multiple intersection around past producing Dolliver Mountain; Multiple intersections representing stacked argillite units similar to the Goldboro model Potential up-plunge mineralization from under previous drilling at Goldboro Extends mineralization ~1.7km west of current mineral resource 38
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TSX.V: NEXG Scale Potential of the Goldboro Deposit Mineralization now traced for over 3.4km of strike length Indications of further mineralization along strike and down plunge Deepest hole drilled to date is 550m vertical and continues to be open 39
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TSX.V: NEXG The Fowler Target The Fowler target is located within the Goldboro Trend, a 28-km-long geological trend defined by an anticlinal fold structure that hosts the Goldboro Deposit The Goldboro Deposit is hosted within a geological level referred to as the Richardson sequence which plunges eastward Geological mapping and geophysics indicate that in the Fowler area, the structure changes its plunge to westward such that the Richardson sequence that hosts the Goldboro Deposit may resurface 8km east of the existing Mineral Resource The Company has collected 335 soil samples at Fowler to complement existing historical sampling and surveys, which assayed up to 144 ppb gold with 51 samples assaying 10 ppb gold and above 40
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TSX.V: NEXG Permitting: Goldboro • Permitting the Project vs Exploration • Baseline work commenced in 2017; evolved over subsequent years • SW, GW, fish, fish habitat, wetlands, archeology, birds, moose, turtles, bats, etc. • Municipal Permits: rezoning, permit to occupy, reclassification of road • Provincial Permits: • Major permits: Environmental Assessment, Industrial Approval, Crown Land Lease, Mineral Lease. • Others: Watercourse Crossings, Wetland Alteration, Wetland Compensation, Biodiversity Compensation, etc • Federal Permits: • Fisheries Act Authorization (FAA) – Fisheries and Oceans Canada (DFO) for impacts to fish and fish habitat related to general site infrastructure • Schedule 2 Amendment (MDMER) – Environment and Climate Change Canda (ECCC) for impacts to fish and fish habitat related to the tailings management facility (TMF) ONLY • Both require compensation – Fish Habitat Compensation Plan (FHCP) 41
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TSX.V: NEXG Environmental Assessment (EA) • Goldboro Project was a Class 1 EA, in accordance with theNova Scotia Environment Act; <5000 t/d trigger • EAs ensure that companies identify and mitigate potential environmental impacts of proposed projects prior to projects being constructed • NexGold used the EA process as a planning tool. We relied on advice from regulators as well as the extensive experience of its senior management team and consultants tocontinually improve the Project • Based on baseline studies and engagement efforts, we developed and assessed several iterations of the Project layout to avoid and/or reduce potential effects on the environment, community, and First Nations • EA was submitted on June 10, 2022 • EA was approved on Aug 2, 2022, with conditions, by the Minister of Environment and Climate Change 42
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TSX.V: NEXG Mineral Lease • Submitted July 2023 • Received July 2024, Approved by Cabinet May 2025 • Valid for up to 20 years from the date they are issued and can be renewed for another 20 years • Grants NEXG the right to use the surface of the land to the extent necessary for mineral exploration and production 43
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TSX.V: NEXG Crown Land • Application submitted to NS DNRR in July 2022 • Received Letter of Offer in July 2024 (major milestone) • Lease is for approximately 779 hectares (1,925 acres) and the licence is for approximately 97 hectares (240 acres) of Crown lands • Lease: “for the purpose of developing and operating an open pit gold mine” • Licence: “for the purpose of authorizing access and utilities across a portion of the Property that overlaps with Mineral Exploration Licence 56452 (regrouping of 10621 and 51496) issued to Atlantic Mining NS Inc. The Licence does not authorize any mining activity”. • Conditions include: • 30 days to accept; can be extended to allow for Q&A (COMPLETE) • Term of 20 years; renewable • Appraisal within 3 months of signing (COMPLETE) • Survey within 6 months of signing; offer will terminate if the survey is not completed(IN PROGRESS) • Rent for the Lease is the greater of 10% of the appraised market value or a minimum annual charge of $373.78; costs and fees for the Licence shall be determined by the Province, at its sole discretion, which shall be provided to the Company on or before the issuance of the Licence. • Approved by Cabinet May 2025. 44
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TSX.V: NEXG Schedule 2 Amendment (MDMER) • Application was submitted in December 2022 and accepted for Consultation in November 2023 • Consultation continued throughout 2024 and 2025 • Letter of Support from Chief Corey of Paqtnkek • Letter from ECCC Minister (March 13, 2025) confirmed NexGold had met the necessary requirements and efforts were being made to expedite the Sched 2 process (now on hold due to the election) • Federal Government approval received July 2025. 45
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TSX.V: NEXG Fisheries Act Authorization (FAA) • FAA is required based on known and predicted impacts to fisheries resources • The Project is expected to impact a total of approximately 23.26 ha of fish habitat that currently supports American eel, brook trout, small-bodied forage fish; 0.27 ha will be impacted by the TMF. • Application submitted August 2023 and accepted for Consultation in November 2023 • Key components: • Avoidance and Mitigation Measures • Quantification of Impacts • Monitoring and Contingency Measures • Financial Guarantee • Offsetting Plan • Consultation occurred throughout 2024 and continues in 2025 • DFO issues FAA within 90 days of Sched 2, which was received July 2, 2025. 46
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TSX.V: NEXG Industrial Approval • IA ensures that an activity is environmentally acceptable, and/or the methods and materials used, and wastes generated will not cause adverse environmental effects and is enforceable under the Environment Act • Approval contains terms and conditions that the project must follow to prevent adverse effects to the environment • IA application was submitted in August 2023 • Initial comments received Oct 2023 • Priority: Groundwater and Surface Water Monitoring Plans and collection of additional baseline data (1 yr required). • Other: GW Contamination/Mitigation, Private Land Ownership, Crown Land Lease and Mineral Lease, etc. • Multiple subsequent meetings with NSECC and consultants • Application deemed complete in June 2025; Approval received in August 2025 • The IA typically one of the last permits to be issued by Government of NS • Renewed interest in resource extraction sector by Premier Houston ("Take the NO out of Nova Scotia") 47