Nexus Gold partner completes initial Rakounga budget

May 8, 2020

2020-05-07 15:10 ET – News Release

Mr. Alex Klenman reports

NEXUS GOLD OPTION PARTNER KRUGER GOLD SETS BUDGET FOR INITIAL WORK PROGRAM AT THE RAKOUNGA GOLD CONCESSION, BURKINA FASO

Nexus Gold Corp.’s option partner, Kruger Gold Corp., has completed an initial budget for upcoming exportation programs to be conducted at the Rakounga Gold Concession located in Burkina Faso, West Africa.

Kruger is currently working to finalize the details of the initial program, which is intended to expand on the existing historical data on the project, with work anticipated to commence in the summer of 2020. Additional information regarding the intended work programs will be provided as it becomes available. The Rakounga Gold Concession consists of an exploration permit totaling a 250 square kilometer area, adjacent to the Company’s Bouboulou gold concession, and has been the subject of prior exploration work by the Company.

Kruger can acquire a 90% interest in the Rakounga project by completing a series of cash payments totaling CDN$1,000,000 and incurring expenditures of at least CDN$1,250,000 over a five-year term. Following completion of these payments and expenditures, Kruger can acquire the remaining 10% interest in the project by completing a one-time cash payment of CDN$1,000,000.

About the Company

Nexus Gold is a Canadian-based gold development company with an extensive portfolio of ten 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 prospective gold and gold-copper projects (3,700-ha) 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.

We seek Safe Harbor.

https://nxs.gold/