NeXGold Mining (NEXG) Corporate presentation summary

Strategic formation and corporate overview

• Formed through the acquisition of Blackwolf Copper and Gold Ltd. by Treasury Metals Inc. and subsequent acquisition of Signal Gold Inc., consolidating multiple Canadian gold projects into a single portfolio targeting mid-tier status.

• Goldboro and Goliath projects each target annual production of ~100,000 oz/year over 10+ years, with significant growth opportunities.

• Royalty financing with Appian and a project financing LOI provide a clear path for Goldboro’s development.

• Significant valuation re-rate potential is anticipated upon final permitting and construction decisions.

Project portfolio and economics

• Goliath (PFS 2023): After-tax NPV5% of $336M, IRR 25.4%, 13-year mine life, 91Koz AuEq avg. annual production, AISC US$1,072/oz at US$1,750 gold price.

• Goldboro (FS 2022): After-tax NPV5% of $328M, IRR 25.5%, 10.9-year mine life, 100Koz Au avg. annual production, AISC US$849/oz at US$1,600 gold price.

• Combined pro forma production of approximately 2.4 Moz AuEq across flagship assets.

Goldboro project highlights

• 100%-owned, largest undeveloped gold deposit in Nova Scotia, with 285km² of prospective land and highest grade undeveloped open pit reserve on Canada’s east coast.

• Received key provincial and federal permits, including Environmental Assessment, Mining and Crown Leases, Schedule 2 Amendment, and Industrial Approval by August 2025.

• Signed a Benefits Agreement with the Assembly of Nova Scotia Mi'kmaw Chiefs in December 2024.

• Exploration has traced mineralization over 3.4km of strike length, with significant near-surface and at-depth growth potential.

• Feasibility Study shows robust economics: C$328M after-tax NPV5%, 25.5% IRR, 2.9-year payback, 95.8% gold recovery, and strong leverage to higher gold prices.