Nice, drilling Dakouli + two more NXS drill programsNovember 18, 2020 Twitter...
Exploration at our Manzour-Dayere Gold Project to follow the ongoing maiden drill program at Dakouli 2.
Grab samples of Dakouli... 11 of 40 grab samples taken from our Dakouli Project, Burkina Faso, have assayed in excess of 10 g/t #gold, including 98.9, 49.7, 27.5, 29.5 & 17.6 g/t. All recovered at depths between 8-50m, from artisanal mining areas. A minimum of 3000 meters RC drilling up next. November 13, 2020 Twitter... Manzour is on the Boromo belt, in the vicinity of some well known deposits and mines. We plan on ramping up exploration work here in the coming months, after we drill test Dakouli 2 and get a second round of drilling completed the McKenzie project in Red Lake.
LECR/Leocor our JV trading north of 50 cents, you know they are going to raise cash and drill in 2021... Vancouver, Canada – TheNewswire – April 23, 2020 – Nexus Gold Corp. (“Nexus” or the “Company“) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to announce that it has entered into a definitive property option agreement (the “Option Agreement“) with Leocor Ventures Inc. (“Leocor“) (CSE:LECR), dated April 22, 2020, pursuant to which the parties intend to cooperate in the development of the recently acquired Dorset Gold Project (the “Project“), located in the Province of Newfoundland, south of the Pine Cove Gold Mine.
Under the terms of the Option Agreement, Leocor will be granted the right to acquire up to a one-hundred percent interest in the Project in consideration for completing a series of cash payments totaling $1,250,000 over a four year term, of which $100,000 is due and payable to the Company upon TSX approval, and incurring expenditures on the Project of at least $1,500,000 over a five year term. Leocor is required to make the cash payments, and incur the expenditures, in accordance with the following schedule in order to maintain the Option Agreement in good standing:
| Deadline | Cash Payments | Expenditures |
| Initial | $100,000 | Nil |
| Year 1 | *$50,000 | Nil |
| Year 2 | *$100,000 | $150,000 |
| Year 3 | $400,000 | $200,000 |
| Year 4 | $600,000 | $400,000 |
| Year 5 | Nil | $750,000 |
| Total | $1,250,000 | $1,500,000 |
*Payable in common shares of Leocor, at the election of Leocor, based on the market price of the common shares of Leocor on the Canadian Securities Exchange at the time of issuance.
Leocor will also assume responsibility for a two percent net smelter returns royalty on the Project, currently held by United Gold Inc. and Margaret Duffitt.
Alex Klenman is a director and senior officer of both the Company and Leocor, however the Option Agreement is not considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The Company and Leocor are considered to be “non-arms’ length parties” under the policies of the TSX Venture Exchange, and as a result the Option Agreement is subject to review by the TSX Venture Exchange.
The Option Agreement has been reviewed and approved by the independent directors of each of the Company and Leocor, but the acquisition of any interest in the Project by Leocor remains subject to the approval of the TSX Venture Exchange.
I'm in, who is along for the ride...???