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Nexus Gold Raises Capital Announces Drill Program at Rakounga

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Plans 3000 Meter Drilling at Rakounga Gold Concession at Burkina Faso West Africa

VANCOUVER, BRITISH COLUMBIA, CANADA, October 25, 2017 /EINPresswire.com/ — Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, FSE: N6E) is pleased to report its upcoming fall work program will include a 3000-metre reverse circulation (“RC”) drill program at the newly optioned Rakounga property, located adjacent to the Company’s Bouboulou gold concession in Burkina Faso, West Africa.

The exploration program at Rakounga has been designed to test the nature of the mineralization occurring at each of the three orpaillages that we have identified and sampled. Initially, the Koaltenga and Gounga orpaillages displayed shear hosted gold mineralization. The initial program will test this style of mineralization to depth by drilling under the exposed surface workings and then along strike as the work progresses. The Porphyry orpaillage displays more of a quartz vein-style mineralization. The goal of the program will be to gain as many intersections in the vein and attempt to determine grade and orientation (strike and dip).

To date, four rock samples were collected from the Porphyry orpaillage returning elevated gold values of 19.95 gram per tonne (“g/t”) gold (“Au”), 2.57 g/t Au, and 1.175 g/t Au, respectively.

A total of eight samples were collected from workings from the Gounga orpaillage, located approximately 1000 metres south of the Porphyry orpaillage. Samples GGA-05 and GGA-07 returned gold values of 14.90 g/t Au, and 5.30 g/t Au, respectively.

Initial rock samples from dumps of the artisanal workings at the Koaltenga orpaillage returned values of 17.30 g/t Au, 2.33 g/t Au, and 1.45 g/t Au, respectively.

“We have been successful in identifying gold mineralization from three different areas at Rakounga. Now we are looking to establish structural relationships between them, and with the known trends on our contiguous Bouboulou property,” said Peter Berdusco, President and CEO of Nexus Gold Corp. “This puts Nexus Gold in an advantageous position of having multiple premium exploration properties in Burkina Faso in which to advance our goal of establishing a significant resource in West Africa,” continued Mr. Berdusco.

The Company is also pleased to announce that it has completed an initial tranche of a private placement through the issuance of 5,333,168 units at a price of $0.075 for gross proceeds of $399,988. Each “unit” consists of one common share and one-half-of-one common share purchase warrant exercisable to acquire an additional common share at a price of $0.12 for a period of twenty-four months. In connection with completion of this tranche, the Company paid cash finders’ fees of $2,799 and issued 37,320 warrants exercisable on the same terms as the unit warrants.

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