NexGen Financial Corporation V.NFX

Nooooooz

[richajer]

NEWS RELEASE TRANSMITTED BY CCNMATTHEWS NFX Gold Inc. January 5, 2006 - 15:40:01 ET NFX Announces Financing TORONTO, ONTARIO--(CCNMatthews - Jan. 5, 2006) - (Not for dissemination in the United States of America.) NFX GOLD INC. (TSX VENTURE:NFX) ("NFX" or the "Company") wishes to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 2,000,000 Units of NFX at a price of $0.30 per unit for total proceeds of up to $600,000. Each Unit will consist of one common share (the "Common Shares") and one-half of one non-transferable share purchase warrant of the Company (the "Warrants"). Each whole Warrant will entitle the holder to purchase one Common Share at a price of $0.40 per share for a period of 18 months. The Private Placement is subject to regulatory approval. All securities issued pursuant to the Private Placement will be subject to the applicable statutory, exchange and regulatory hold period. The net proceeds of the Private Placement will be used for working capital and to finance continued exploration at NFX's Larder Lake project, located in northeastern Ontario. FOR FURTHER INFORMATION PLEASE CONTACT: NFX Gold Inc. Thomas G. Larsen President and Chief Executive Officer [phone] [phone] NFX Gold Inc. Jorge Estepa Vice President [phone] [phone] www.nfxgold.com The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.