2017-03-16 10:58 ET – News Release

Mr. Peter Berdusco reports


Nexus Gold Corp. will increase its diamond drilling program at the 178-square-kilometre Niangouela exploration permit located approximately 85 kilometres north of Ouagadougou, Burkina Faso, West Africa.

The company recently completed 1,470 metres of the scheduled 2,000-metre phase 1 program (see news release dated March 7, 2017) and will be completing the initial phase and releasing assays from the remaining holes in the coming weeks. The company will immediately thereafter commence a phase 2 diamond drill program on the property that will target additional areas of interest along strike. In addition, the program will test a newly identified zone of artisanal workings occurring along strike of the shear zone another 800 metres to the east of the current drill area.

“As has been stated, we are extremely encouraged with the initial results at Niangouela. Once this first program is complete, we will immediately initiate the next phase,” said president and chief executive officer, Peter Berdusco. “This second phase will continue to effectively define the shear zone structure and the quartz vein within it. We will also investigate any potential higher-grade shoots and preferred mineralization trends occurring along strike.”

The first-phase diamond drill program was designed to test anomalous rock samples collected from underground artisanal workings and anomalous rotary air blast (RAB) drilling completed by the company in December, 2016. This initial program successfully intersected gold mineralization in eight of the first nine holes drilled on the concession. The mineralization was contained in a silicified shear zone occurring in the host granite; associated with the shear was primary quartz veins.

Significant gold mineralization was encountered in four of the eight holes reporting gold intercepts. NGL-17-DD-008 returned 26.69 grams per tonne (g/t) gold over 4.85 metres (including 8.5 g/t gold over 0.62 metre and 120 g/t gold over 1.03 metres). Hole NGL-17-DD-006 returned four g/t gold over 6.2 metres (including 20.5 g/t gold over one metre).

The assay results from the first nine holes of the phase 1 program are shown in the attached table.

Hole ID                      From                To      Intercept               Au 
                               (m)               (m)            (m)            (g/t)
NGL-17-DD-00110             76.00             87.00          11.00             0.32         
Includes                    83.00             84.00           1.00             1.21         
NGL-17-DD-002190            84.50             85.50           2.00             1.05         
                           104.50            105.50           1.00             1.32         
NGL-17-DD-003185            86.40             91.50           5.10             1.80         
Includes                    86.40             87.50           1.10             6.14         
NGL-17-DD-004185           121.00            124.00           3.00             0.75         
Includes                   122.00            123.00           1.00             1.23         
NGL-17-DD-005185                             No significant results                                                  
NGL-17-DD-006180            65.00             71.20           6.20             4.00         
Includes                    70.20             71.20           1.00            20.50      
NGL-17-DD-007180           102.00            109.20           7.20             1.01         
Includes                   104.00            105.00           1.00             2.34         
And                        106.20            107.20           1.00             1.92         
NGL-17-DD-008180            57.00             61.85           4.85            26.69        
Includes                    58.35             58.97           0.62             8.50         
And                         58.97             60.00           1.03           120.00      
NGL-17-DD-009180            74.50             78.50           4.00             2.61         
Includes                    76.50             77.50           1.00             5.92

Note: All assay results represent intercept lengths and are not true widths.

The phase 1 diamond drill program tested the shear zone for over 200 metres along strike and intercepted the zone to depths of 105 metres below surface. The shear zone remains opens along strike and to depth.

About the Niangouela gold concession

The 178-square-kilometre Niangouela gold concession is located on the Boromo greenstone belt (as is the company’s Bouboulou gold concession), and is proximal to the Kalsaka deposit and the Sabce shear zone. It is accessible by road and has one major orpaillage (artisanal workings).

In December, 2016, the company conducted an 802-metre RAB drill program that delineated an approximately 1,000-metre quartz vein and a 500-metre secondary strike, running oblique to the main vein. This vein has now been identified in trenches, artisanal workings and through RAB drilling. It remains open in all directions.

A total of 11 rock chip and grab samples were taken during the initial exploration phase. Eight of the 11 samples returned values of one g/t gold or better. Best results of the 11 include sample NG005, taken directly from the primary quartz vein at 46-metre depth (accessed via an artisanal mining shaft), which returned a value of 2,950 g/t gold. Sample NG006 was collected from the artisanal dumps of the sheared intrusive and returned a value of 23.9 g/t gold. Sample NG007 contained coarse visible gold, and was taken from material extracted from the eastern shaft from a depth of approximately 60 metres, returned values of 403 g/t gold. Sample NG008 was taken from the western shaft, 10 to 12 metres west of the eastern shaft, and consisted of a single large piece of primary quartz vein containing host rock inclusions and a cluster of visible gold. NG008 returned values of 49.8 g/t gold.

About Burkina Faso

Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest-growing gold producer in Africa and was the fourth-largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The greenstone belts that host all of the major deposits in Ghana and Ivory Coast continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining underexplored in comparison with the neighbouring Ghana and Mali, both of which host world-class gold mines in the same belts of Birimian rocks.

About Nexus Gold Corp.

The company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold concession is a 38-square-kilometre advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-square-kilometre project featuring high-grade gold occurring in and around a primary quartz vein one kilometre in length and associated shear zone.

Warren Robb, PGeo, senior geologist, is the designated qualified person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

We seek Safe Harbor.

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