NexGold attains final federal stamp of approval for Nova Scotia gold mine

All that remains before construction is a final investment decision

Rowan Dunne

Published

November 5, 2025

NeXGold Mining Corp (CVE: NEXG) (OTCMKTS: NXGCF) (FRA: TRC) has secured the final federal approval needed for its Goldboro gold mine.

NexGold revealed that it received the necessary Fisheries Act Authorizations from Fisheries and Oceans Canada on Nov. 4. A final investment decision from the company is all that remains before construction begins in 2026.

“Shout out to the fantastic team at NexGold!” said President and CEO, Kevin Bullock. “This is the final key permit, federally and provincially, for the Goldboro Gold Project. A fully permitted mine in Canada. What an achievement.”

Goldboro will become the first new gold mine in the province in over a decade and the only one in Nova Scotia on track to enter the commercial production phase.

The other most significant operation, St Barbara Ltd‘s (OTCMKTS: STBMF) (FRA: BM1) Touquoy Gold Mine, concluded extraction in 2023 and was placed on care and maintenance in October that year. Company officials are currently considering processing ore stockpiles at the site as reclamation work continues.

NexGold’s permitting success builds on the mining company receiving industrial approval for the project from the Government of Nova Scotia in late August. The mine is expected to contribute C$2.1 billion to the provincial economy during its 10.9-year lifespan.

It holds 2.58 million ounces of measured and indicated resources and is projected to produce an average of 100,000 gold ounces per annum. Mineralization has been traced for over 3.4 kilometres of strike length.

Goldboro is the highest-grade undeveloped gold deposit on the east coast of Canada. Equinox Gold Corp‘s (TSE: EQX) (NYSEAMERICAN: EQX) (FRA: 1LRC) Valentine project in Newfoundland is second.

NexGold closed a C$112.5-million-dollar bought deal financing led by National Bank Financial Inc. on Oct. 31. Proceeds will support construction and development of Goldboro next year.

“Extremely happy to see the interest in this company with this offering,” said Bullock. “This sets the stage for the next step in our journey.”

Woo-woo. NexGold's Goldboro project headed to construction in Nova Scotia. High-grade open pit. Juicy project. Surprisingly still cheap.🧐 https://t.co/earWvwzBka

— Don Durrett – goldstockdata.com (@DonDurrett) November 5, 2025