08:35 AM EDT, 05/22/2025 (MT Newswires) -- NexGold Mining ( NXGCF ) said Thursday that the Nova Scotia Government granted the Crown land lease and license for the Goldboro gold project following cabinet approval.

The land lease and license give NexGold the ability to build and operate an open pit mine, with the associated processing, tailings management and other associate infrastructure, the company said.

The lease covers an area of 779 hectares and the license covers an additional 97 hectares of Crown land, NexGold said.

"The lease includes a land package that covers both the deposit and critical infrastructure for mine development, allowing final permitting to progress," said Kevin Bullock, NexGold's president and CEO. "This is a significant project milestone, and a reflection of NexGold's positive working relationship with the Government of Nova Scotia."

The project is expected to create more than 700 jobs and add $2.1 billion to Nova Scotia's economy over its lifetime, according to Tory Rushton, Nova Scotia's minister of natural resources.