NexGen Mining Inc (NXGM)

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NXGM~~The Projects Gold and Silver Projects
Our gold and silver property portfolio is comprised of six projects in Nevada and one in Idaho.

Friday Mine


During July 2018, the Company entered into the Friday Open Pit Mine Lease with Premium Exploration
(USA) and Clearwater Gold Mining Company for the surface mining rights of the Friday Mine which is
located within the Orogrande Mining District of Idaho County, Idaho, approximately 10 miles southsouthwest of Elk City, Idaho. The project consists of 5 patented claims and 103 contiguous unpatented
federal mining claims covering approximately 3,307 acres of U.S. Forest Service land surface.
The project mineralization is encountered within a 300 to 600-foot-wide shear zone, and is sharply
defined on the east by the Friday Fault and on the west by the Monday Fault. Gold mineralization along
the Friday Fault occurs almost exclusively in the hanging wall in broad seriticized zones within which
discontinuous potassic alteration is present, as is weak to strong silicification. Gold mineralization in the
vicinity of the Monday Fault occurs in local zones of intense ductile shearing and is largely concentrated
at the margins of associated dacite-rhyolite dikes. Mineralization is hosted in the sheared and altered
NexGen Mining Incorporated
Management’s Discussion and Analysis
For the nine months ended September 30, 2019 and 2018
10
granodiorite/quartz monzonite breccias and muscovite/sericite schists. Both phyllic and sericite
alteration with disseminated pyrite have been identified within the mineralized zone. Other secondary
minerals include arsenopyrite, lollingite (iron arsenide), galena, and chalcopyrite. Gold is finely
disseminated and also occurs as native in networks of small quartz-carbonate veinlets. The deposit is
predominately sulfide with a shallow oxide cap up to 20 meters in depth from surface. Exploration
expenses for the Friday mine were nil and nil for the nine months ended September 30, 2019 and 2018.
See Note 4 of the Quarterly Financial Statements.

Paradise and Old Dominion

During August 2018, the Company entered into the Exploration and Mining Lease with Lucky Irish Silver,
Inc. for 19 unpatented mining claims (380 acres) situated in Washoe and Nye County, Nevada. During
June 2019, the Company purchased the 19 unpatented mining claims from Lucky Irish Silver, Inc.

Paradise

The Paradise project consists of 9 unpatented mining claims encompassing 180 acres located in Nye
County, Nevada which are 100% owned by the Company. The claims cover areas of historic drilling
conducted in the late 1980’s and early 90’s by FMC (operator of the Paradise Peak mine). Past
production adjacent to our project is 1.6 million ounces of gold and 22 million ounces of silver (20.6
million tons @ 0.069 opt gold and 1.9 opt silver).
The Paradise Peak Mine model was previously explored as a caldera with deposits clustered around the
margins of the ring faults. Recent work in the district suggests a more complex system with overlapping
alteration and mineralization systems from nearby intrusives such as the Sullivan porphyry.
The company’s claims host mineralization reportedly similar to the Paradise Peak Mine. Outcrop is
limited with shallow alluvial cover reported to be from 10 to 100 feet thick. The company was able to
review historic summary drill reports from FMC and believes that many additional targets exist on the
company’s claims and throughout this highly prolific, precious metals district.
Surrounding areas of resources (non 43-101 compliant) include the Sullivan mine at ~20 million tons
grading 0.3% copper and 0.03 opt (1 g/t) gold and several peripheral pits that may contain up to 350,000
ounces of gold with additional silver credits. Other nearby past producers include the Santa Fe/Cal
Neva operated by Homestake (~350,000 ounces gold, 700,000 silver) and Rawhide operated by
Kennecott (~1.3 million ounces gold, 15 million ounces silver). Exploration expenses for the Paradise
project were nil for the nine months ended September 30, 2019 and 2018
.
Old Dominion

The Old Dominion project consists of 10 unpatented mining claims encompassing 200 acres located in
Washoe County, Nevada which are 100% owned by the Company. The claims cover multiple veins along
a structural corridor hosted in Tertiary volcanic rocks. Historic drilling conducted by Battle Mountain
Gold, Goldfields and Lac Minerals intersected up to 0.50 opt gold; but thus far, the company’s claim
block has not been drill tested. Surface sampling by previous claim owners have obtained multiple
+0.03 opt gold and +1 opt silver values in surface samples throughout the claim block with values of up
to 0.17 opt gold and 22.9 opt silver.

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