NV Gold Corporation Outlines Its Planned 2023 Drill Priorities and Exploration Activities

VANCOUVER, BC / ACCESSWIRE / January 25, 2023 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to provide an exploration activity update for 2023, outlining its highest drill priorities and early-stage project evaluation. Of the Company's seven active projects in Nevada, NV Gold intends to prioritize three projects: (1) SW Pipe Gold Project ("SW Pipe"); (2) Slumber Gold Project ("Slumber"); and (3) Triple T Gold Project ("Triple T"), subject to capital availability. In addition, the Company plans an intensive "boots on the ground" exploration campaign to evaluate over 30 new potentially prospective areas generated through its Data Library Project, a collaborative exercise conducted with GoldSpot Discoveries Corp. ("GoldSpot"), and recent land acquisitions, such as the Gold Bell and Teton projects in the Bell Mining District in Nevada.

Drilling Priorities:

1. SW Pipe Gold Project:

SW Pipe is located in Lander County, approximately 6 km (3.7 miles) southwest of the world-class Pipeline gold mine in the central Cortez gold belt of north-central Nevada. SW Pipe is comprised of 84 unpatented mining claims and is 100%-owned by NV Gold. Historical drilling established a near-surface, oxide-gold zone characterized by multiple intercepts of 15 m+ @ 0.5-1.0 g/t Au (see Company's press releases dated releases October 26, 2022, and December 14, 2022). After the evaluation and analyses of two extensive geochemical surveys (see Company's press releases October 26, 2022, and December 14, 2022), the Company recently submitted a notice of intent to drill-test a potentially multi-million-ounce Carlin-type gold deposit on the SW Pipe project in Q1 of 2023 (see Figures 2 & 3)¹.

2. Slumber Gold Project:

Slumber is located approximately 80.5 kilometers (50 miles) northwest of Winnemucca, and 36 kilometers (22.4 miles) west of the Sleeper Gold Deposit in Humboldt County, Nevada. The property, comprising 82 unpatented mining claims, is 100%-owned by NV Gold. In Q1 2022, the Company conducted a Phase 3 drilling campaign and completed 12 reverse circulation ("RC") holes totaling 2,350 meters (7,710 feet). The current target is an untested, wide-open zone of resistivity in the northern extent of the property. The 2023 drill program is scheduled to commence in Q2, subject to capital availability, and consists of 3-6 RC holes to test for a potentially a "sleeper-type" gold deposit.