Nexus Gold Drills 12m of 1.18 g/t Au, Including 12.7 g/t Au over 1m, at the Dakouli 2 Gold Concession, Burkina Faso, West Africa

(TheNewswire)

Vancouver, Canada – TheNewswire August 24, 2021 – Nexus Gold Corp. (“ Nexus ” or the “ Company ”) (TSXV:NXS ) ( OTC:NXXGF ) ( FSE:N6E) is pleased to report it has received additional assay results from the diamond drill program conducted at its 100% owned, 9,800-ha, Dakouli 2 Gold Project, located in Burkina Faso, West Africa.

Drill hole DKL-21-DD-008 returned 12 meters of 1.18 grams-per-tonne (“g/t”) gold (“Au”), within a broader intercept of 30 meters of .52 g/t Au, which also includes .86 g/t Au over 17 meters,  2.19 g/t Au over 6 meters, 6.51 g/t Au over 2 meters, and 12.7 g/t Au over 1 meter.   Drill hole DKL-21-DD-009 returned 18 meters of .37 g/t Au, including 2.22 g/t Au over 2 meters.

A total of 2500 meters of exploratory drilling was completed over 11 holes.  This drill program was designed to confirm and further test zones of mineralization discovered during the Company’s Reverse Circulation (“RC”) drill program conducted at the end of 2020.

Drilling has so far outlined a mineralized zone enveloping meta-volcanic/meta-sediment contact.  The contact has been traced over 800 meters in an east-west orientation and remains open at depth.  In addition to abundant artisanal activity, the geochemical footprint (see Company news release, June 11, 2019) on the property indicates there are potentially mineralized sub zones or corridors that parallel the main trend and that appear to also extend in a southwesterly direction.  Planning is now underway for follow up drilling in an effort to establish continuity along the main trend prior to testing a series of SW oriented targets.

“We are extremely encouraged with the results from this first diamond drill program,” said VP of Exploration, Warren Robb.  “We encountered visible gold in 7 of the  9 holes drilled testing the Dakouli East Zone and have traced this gold bearing structure for over 500 meters in strike and to vertical depths of 130 meters.  This diamond drilling will go a long way in helping us unravel the structural complexities in this gold trend and to formulate a suitable follow up program to trace this mineralization,” continued Mr. Robb.

“The combination of higher grade intercepts dispersed among and together with lengthier, sub-one gram intervals indicate a very favorable trend developing here at Dakouli,” said president and CEO, Alex Klenman.  “We are going to spend some time now to track the results of both the RC and diamond drill programs in an effort to best understand the structure and controls along this east-west trend, and to generate the next set of drill targets.  It’s a big property with a lot of ground to cover, we’re eager to keep building drill data and move towards a potential resource estimate,” continued Mr. Klenman.

Table of significant results from the 2021 diamond drill program at Dakouli:

Drill core is logged and sampled in a secure core storage facility located in the village of Bokin.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ouagadougou, 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 .

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

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 m

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.

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Image 1: Bisecting Sabce faults (red) and artisanal zones, Dakouli 2 project, Burkina Faso, West Africa

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

About the Dakouli 2 Gold Concession

The Dakouli 2 exploration permit is a 98-sq km (9,800 hectares) 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.

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 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

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.

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