19 February 2019
NxGold Ltd. is pleased to provide exploration activity guidance for the first half of 2019. Meeting requests, applications and notices required for the execution of exploration activities throughout 2019 have been submitted to the appropriate regulatory bodies and organisations. The expectation is that in 2019 NxGold will be able to resolve the current inability to explore at its Kuulu project in Nunavut and at the same time will advance select targets at the Mt. Roe Gold Project to the drill evaluation stage of exploration.
Kuulu Project:
The Kuulu Project has received a positive Nunavut Planning Commission (NPC) conformity decision, a positive Nunavut Impact Review Board (NIRB) decision and a Type B Water License from the Nunavut Water Board (NWB) for water use for camp and drilling purposes. In addition, a land use license from the Lands Department of the Kivalliq Inuit Association (KIA) is required for NxGold to undertake exploration activities on the Kuulu project area. This licence has not yet been obtained but the Company continues to work with the KIA and the local community in an effort to obtain the necessary licence which has been granted the previous seven years on the same tenements. The underlying Earn-in Agreement with Meliadine Gold Ltd. (private) is in good standing and remains under force majeure until the Company can access the ground under the Land Use License terms. The underlying Mineral Exploration Agreement with Nunavut Tunngavik Inc. also remains in good standing with rents paid up to date with expenditure requirements under force majeure due to the inability to undertake work.