MACKENZIE PROJECT

1,398.5 HECTARE HIGH-GRADE GOLD EXPLORATION PROJECT LOCATED IN THE WORLD-CLASS RED LAKE MINING CAMP

• The McKenzie gold project is located in the prolific Red Lake gold camp. The highly prospective geological setting is analogous to several past producers. McKenzie hosts nine documented historical gold occurrences with limited exploration.
• In 2017 a ground reconnaissance program resulted in a prospecting discovery, with high-grade samples returning up to 313 g/t Au.
• A new showing on the southwest corner of McKenzie Island, located in the northern portion of the project area, was also discovered during this program and returned multiple high-grade samples ranging from 9.37 g/t Au to 331 g/t Au.
• This new discovery is located approximately 100 meters west of a historical showing where gold values of up to 212.8 g/t Au have been reported in provincial government files.
• In 2019 Nexus began a comprehensive first phase work program consisting of sampling, mapping, geochemical and geophysical surveys.
• Results from the first seven samples collected include a high-grade 135 g/t Ausample from a quartz vein.

OVERVIEW

• Historic drilling in 2005 returned several significant intercepts on an east-west trending corridor along the southern contact of the Dome Stock occurring within volcanic rocks of the Balmer Assemblage
• Highlights include:
  • 7.49 g/t Au over 8.2m
  • 15.54 g/t Au over 0.8m (includes 13.08 g/t over 0.3m and 17.02 g/t over 0.5m
  • 4.47 g/t Au over 1.4m
  • 2.15 g/t Au over 5.5m

• In June 2020, Nexus initiated a 2000 meter diamond drill program in the St. Paul’s Bay region of the property

331 g/t Au historical sample

DRILL HIGHLIGHTS

• Initial drilling successfully replicated historical drill results. i.e. narrow, higher-grade intercepts, in several holes.
• The lengthier, disseminated, near one-gram gold intercepts in holes #7 & #8 more closely resembles the type of mineralization being explored by Premier Gold at the Hasaga Project, located 5km to the south-east.
• The deposits at Hasaga are estimated to host over one million ounces at just under a one-gram gold average*.
• This, coupled with the narrower high-grade intercepts, suggests that there is a strong potential for economic mineralization occurring in the St. Paul’s Bay region of the McKenzie project.

* 1.124 Moz @ 0.83 g/t, M&I, Premier Gold Mines Ltd, Hasaga Mineral Resource Estimate (Dec 30, 1026) Abderrazak Ladidi P.Geo, and Vincent Jourdain. Eng., Ph.D., from MRB & Associates