GBLT Corp. — Capital/Financing Update 2020

Jun 13, 2020

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NEXUS GOLD CORP.

Suite 802, 750 West Pender Street Vancouver, BC, V6C 2T8 604-558-1919

NEWS RELEASE

NEXUS GOLD ANNOUNCES FLOW-THROUGH PRIVATE PLACEMENT

Vancouver, Canada – June 12, 2020 – Nexus Gold Corp. (“ Nexus ” or the “ Company ”) (TSX-V: NXS, OTCQB: NXXGF, FSE: N6E) is pleased to announce that it will offer up to 4,545,455 flow-through units (each, an “ FT Unit ”) at a price of $0.055 per FT Unit for gross proceeds of up to $250,000. Each “FT Unit” will be comprised of one common share, and one common share purchase warrant exercisable to acquire an additional common share at a price of $0.07 for a period of thirty-six months.

The gross proceeds from the placement will be used to fund Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) which shall qualify as “flow-through mining expenditures”, for the purposes of the Income Tax Act (Canada).

In connection with the placement, the Company may pay finders’ fees to eligible third parties who have assisted in introduction subscribers to the Company. All securities to be issued in connection with the placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Completion of the placement remains subject to the approval of the TSX Venture Exchange.

About the Company

Nexus Gold is a Canadian-based gold development company with an extensive portfolio of eleven exploration projects in West Africa and Canada. The Company’s West African-based portfolio totals five projects encompassing over 750-sq kms (75,000+ hectares) of land located on active gold belts and proven mineralized trends, while it’s 100%-owned Canadian projects include the McKenzie Gold Project in Red Lake, Ontario, the New Pilot Project, located in British Columbia's historic Bridge River Mining Camp, and four additional prospective gold-copper projects in the Province of Newfoundland. The Company is focusing on the development of several core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its growing portfolio.

For more information please visit nexus.gold .

For more information please visit www.nexusgoldcorp.com .

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO 604-558-1920 info@nexusgoldcorp.com www.nexusgoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.