GOLDBORO — NexGold Mining Corp. says it is just one step away from greenlighting construction of its long-awaited Goldboro mine – one of the most closely watched proposed industrial builds in Guysborough County in recent memory.
With final federal permits now in hand, President and CEO Kevin Bullock told The Journal last week that the company expects to complete the feasibility study in the second quarter of 2026, “based on an updated resource that we are carrying out now.”
He added: “We plan to start building following that. The build will be approximately two years. Production would be mid 2028.”
The project cleared its last major federal regulatory milestone on Nov. 4, when Fisheries and Oceans Canada granted Fisheries Act Authorizations (FAAs) for the construction and operation of the mine. NexGold received its industrial approval – the final key provincial permit – in August.
“The receipt of the FAAs announced today provides NexGold with the last key permits required to advance towards construction and operations,” Bullock said in a news release. “I am very proud of the hard work by the NexGold team in achieving this successful outcome for the advancement of the Goldboro Gold Project.”
Asked if any barriers remain before construction begins, Bullock told The Journal that “the project finance package LOI [letter of intent] needs to be papered into a final binding document. The feasibility update needs to be completed. We plan to have this done in the projected time period.”
Last week’s federal approvals follow a flurry of activity in 2025 for the Toronto-based junior mining company, which has been exploring for gold in this part of Guysborough County since 2017 – first as Anaconda Mining, then as Signal Gold, before merging with Treasury Metals and becoming NexGold in 2024.
In a March keynote speech at the Prospectors & Developers Association of Canada (PDAC) conference, Premier Tim Houston declared Nova Scotia “open for business” and pledged faster mine approvals. Since then, his government has repealed bans on uranium mining and onshore gas fracking, launched a critical minerals strategy, and introduced new rules to streamline the regulatory process for metal mining.
In May, NexGold secured a 779-hectare Crown land lease covering both the deposit and the infrastructure footprint – including planned processing and tailings facilities, waste rock storage, and on-site buildings. The lease spans both Crown and private land, including areas previously mined for gold. “The lease is required in order to place the infrastructure for the mine on the land,” Bullock said at the time.
To date, NexGold, has raised $10 million to accelerate development and signed community benefits agreements with both the Assembly of Nova Scotia Mi’kmaw Chiefs and the Municipality of the District of Guysborough (MODG).
According to provincial estimates, the $250-million project could generate more than 700 jobs and contribute $2.1 billion to Nova Scotia’s economy over its 15-year lifespan – including 11 years of operation and a multi-year remediation phase. Between 200 and 350 full-time workers are expected to be employed during construction and operations.
