Nexus Gold Drills 4m of 10.87 g/t Au, Within 28m of 1.90 g/t Au, at the Dakouli 2 Gold Concession, Burkina Faso, West Africa

(TheNewswire)

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

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 in November and December 2020.  Significant results in these first five diamond drill holes include:

DKL-21-DD-002

• — 10.87 grams-per-tonne (“g/t”) gold (“Au”) over 4 meters

• — Within a broader intercept of 1.90 g/t Au over 28m (from 91 to 119 meters depth)

• — 1.43 g/t Au over 10m (from 154m to 164m)

• — Including 10.60 g/t Au over 1m

This hole also returned high-grade intervals of 15.10 g/t Au over 1m, and 17.00 g/t Au over 1m.

DKL-21-DD-001

• — 1.01 g/t Au over 15m

• — Including 6.88 g/t Au over 1m

• — Within a broader intercept of 23m of 0.95 g/t Au

• — 1.46 g/t Au over 7m

• — Including 4.87 g/t Au over 1m

“This is a great start to the diamond program.  It’s looking like we have an impressive zone enveloping  the meta-volcanic/meta-sediment contact,” said Warren Robb, VP Exploration.  “We have traced this contact now for over 800 meters, and it still remains open to depth,” added Mr. Robb.

“We are gaining valuable insight into how the gold deposition is occurring at Dakouli,” said President & CEO, Alex Klenman.  “We’re getting a better understanding of continuity along this main trend that appears to extend several kilometers to the west. The large geochemical footprint at Dakouli, in addition to artisanal activity, indicates there are potentially sub zones or corridors that parallel the main trend that appear to extend in a southwesterly direction.  Once all results are received and released, we’ll begin a follow up program to further delineate the mineralization at Dakouli,” continued Mr. Klenman.

Table of significant results:

Note: reported intervals are intercept lengths and not true widths

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 . Assays are pending from holes 6 through 11, and results will be reported once received, reviewed, and verified.

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

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