NV Gold Announces Exploration Target at its SW Pipe Gold Project of up to ~70,000 Near Surface Oxide Gold Ounces - Seite 2

Qualified Person: The technical information in this document was compiled, reviewed, and approved by Jesse D. Wellman, CPG, an American Institute of Professional Geologists certified Professional Geologist, and is a Qualified Person as defined in the NI 43-101. Jesse D. Wellman, CPG is a consulting Economic Geologist, and Qualified Person with over 20 years' experience in precious metals exploration, discovery, and development.

Thomas Klein, VP Exploration stated, "I am excited by the outcome of this new technical update ("Exploration Target") and the potential ounces modeled by Mr. Jesse D. Wellman. NV Gold has successfully delineated a substantial near surface, oxide gold system at its SW Pipe property in Lander County, Nevada. This area of gold mineralization can be interpreted as possible "leakage" from a larger target at depth, emplaced through structural conduits. Given the favorable setting proximal to several large gold deposits, the modest deposit is further support for deeper exploration. "

Foto: Accesswire

Figure 1: SW Pipe Property Location.

SW Pipe Exploration Update

On May 10, 2023, the Company commenced drilling its initial drill hole at SW Pipe. Due to challenging ground conditions and in an effort to preserve capital, the Company has terminated the existing hole and relocated the drill rig to its Triple T Gold Project ("Triple T").

John Seaberg, NV Gold CEO stated "SW Pipe remains a high priority target for the Company but the encountered ground conditions and expected depth of the drill holes requires a larger budget to adequately test the target at depth. In an effort to allocate our capital in a disciplined manner, we have elected to move the drill rig to the Triple T Gold Project where the holes are shallower and much less expensive. As such, crews have been mobilized to begin a ~1,000 - 1,500 meter RC Drill Campaign that will entail 10 - 15 drill holes designed to exploit the properties near surface, high-grade oxide gold potential. Triple T is 100% owned by NV Gold and is fully permitted".

The Triple T Project comprises of 41 claims and is located in the Humboldt Range 9 kilometers (5.6 miles) east of the Rochester silver-gold operation and 42 kilometers (26.1 miles) southeast of the Florida Canyon gold mine (see Figure 2).

Foto: Accesswire

Figure 2: Triple T Location

About NV Gold Corporation

NV Gold Corporation is a well-organized exploration company with ~89 million shares issued and no debt. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-owned lode mining claims totaling 53.4 square kilometers (20.6 square miles) The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2023 is expected to be highly productive for NV Gold.