19 October 2017
Vancouver, B.C. October 19, 2017 – NXGOLD LTD. (“NxGold” or the “Company”), (NXN:TSXV) is pleased to advise that a Type B Water Licence (2BE-KUU1721) has been issued by the Nunavut Water Board in respect of the Kuulu Project in Nunavut. This licence authorizes water use and waste management associated with camp and drilling activities for the Kuulu Project. Upon renewal of the existing Land Use Licences, KVL311B01 and KVRW12E01, all licenses and permits will have been issued to permit the Company to drill test high priority gold targets at the Kuulu Project. As previously announced on June 19, 2017, the Company has also obtained a positive decision from the Nunavut Impact Review Board for the Kuulu Project.
The Company continues its dialogue with the Kivalliq Inuit Association and remains optimistic that it will secure renewal of the Land Use Licences in due course.
Condor North Consulting ULC., has been retained to perform a detailed interpretation of the results of the Kuulu VTEM Plus survey that was undertaken in June to refine geophysical targeting on the Kuulu Project and their final report is pending.