NxGold announces $5M private placement

News Release

NxGold Announces Private Placement of up to C$5,000,000

Not for distribution to United States Newswire Services or for dissemination in the United States

VANCOUVER, BC, February 13, 2018 – NxGold Ltd. (the “Company”) (TSX‐V:NXN) is pleased to announce that it has appointed a syndicate of agents led by Red Cloud Klondike Strike Inc. (the “Agent”), to sell by way of private placement, units (the “Units”) of the Company for gross proceeds of up to C$5,000,000 (the “Offering”).

Each Unit is offered at a price of C$0.25 and will be comprised of one common share of the Company and one common share purchase warrant (a “Warrant”), each Warrant entitling the holder thereof to acquire one common share of the Company at a price of C$0.37 for a period of 24 months from the date of closing of the Offering.

The Company has granted the Agent an option exercisable, in whole or in part, at any time up to 48 hours before the closing of the Offering, to place up to an additional C$2,000,000 of Units. The net proceeds from the Units shall be primarily used for exploration at the Company’s Mt. Roe and Chicobi Projects and general working capital purposes.

The closing of the Offering is expected to occur on or about March 13, 2018 and is subject to receipt of all necessary regulatory approvals. The Units, including all underlying securities thereof, and any broker warrants issued with respect to the Offering will be subject to a four month hold period in accordance with applicable securities laws.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About NxGold

NxGold is a Vancouver‐based exploration company. The Company owns 80% of the Mt. Roe gold project located in the Pilbara region of Western Australia. The Company has also entered into an earn‐in agreement with Meliadine Gold Ltd. to earn up to a 70% interest in the Kuulu Project (formerly known as the Peter Lake Gold Project) in Nunavut and an earn‐in agreement to earn up to a 100% interest in the Chicobi Project located within the prolific Abitibi Greenstone Belt in Québec.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Suite 3150, 1021 West Hastings Street Vancouver BC Canada V6E 0C3
Phone: 604-428-4112
Travis McPherson
Vice‐President Corporate Development
NxGold Ltd.
+1 604 428 4112
tmcpherson@nxgold.ca

photo credit: NxGold

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