DAKOULI 2 GOLD CONCESSION

98-SQ KM 100%-OWNED CONCESSION WITH ABUNDANT SHOWINGS OF VISIBLE GOLD & EXTENSIVE ARTISANAL WORKINGS ADJACENT TO THE NIANGOUELA CONCESSION

• 98-sq km (9,800 hectares) concession adjacent to the Niangouela concession, bisected by the Sabce shear zone

SABCE SHEAR

• The Sabce fault starts east of the open pits at Nordgold’s Bissa Mine (3.4M oz +) and continues through the new orpaillage at the northeast corner of the permit. It proceeds to the Boken Vein Orpaillage on the western boundary, extending approximately 12 kms across the property.
• A secondary trend, Sabce Sud, appears to span approximately 4 kms across the southern section of the property, and includes the Black Vein Orpaillage, a series of deep shafts that trend sub parallel to the Sabce fault. Black Vein features black quartz vein similar to what is found at Nordgold’s satellite pit located approximately 20 kms to the east

SAMPLE RESULTS

• Of the first 40 samples collected to date, 20 returned assay values greater than 1 g/t Au, with multiple samples showing various concentrations of visible gold, with values between 10.8 g/t Au and 98.9 g/t Au
• Company geologists have viewed the panned concentrates of these near surface materials being processed by the artisanal miners and noted that the gold being recovered was also coarse and nuggety in nature

MAIDEN DRILL PROGRAM

• In late 2020 Nexus conducted a maiden drill program at the Dakouli project resulting in significant discovery
• A total of 22 Reverse Circulation (RC) holes were drilled, totaling 2,914 meters in five target zones
• Several holes returned significant mineralization, including hole 7 which returned 4.83 g/t Au over 20m, including 14.51 g/t Au over 6m
• The location of the mineralization corresponds well with the interpretation of the location of the Sabce shear zone
• Ground geochemistry and termite sampling suggest that this mineralization may extend for at least a kilometer to the south west and longer to the south

DRILL RESULTS

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. 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 and southern portions of the contiguous Niangouela 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 north east 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. To date, 40 samples have been collected at the Dakouli concession, with 20 returning assay values greater than 1 g/t Au, and 11 assaying greater than 10 g/t Au, with significant values as high as 98.9 g/t Au (see Company news release dated September 10, 2020). The Dakouli 2 permit lies immediately south of, and contiguous to, the Company’s Niangouela Gold Concession, which has been explored over the past three years. Drilling at Niangouela has returned significant intercepts, including 26.69 g/t Au over 4.85m, including 132 g/t Au over 1m, and 4 g/t Au over 6m, including 20.5 g/t Au over 1m (see Company news releases dated March 7, 2017 and April 5, 2017). *Grab samples are selective by nature and may not represent the true grade or style of mineralization across the property