NV Gold Completes Property-Wide Geophysics Survey and Technical Team Arrives at the High-Grade Exodus Gold Project

VANCOUVER, July 27, 2020 - NV Gold Corp. (TSXV:NVX)(OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce that, further to its news release dated July 21, 2020, the Company has now completed both the property-wide helicopter-borne high resolution aeromagnetic ("High-Res Mag") and radiometric surveys. In addition, the exploration team has arrived on site today at the high-grade Exodus Gold Project, located in the Cariboo Mining Division, 40 km NNW of Prince George, British Columbia.

"We are pleased to have completed the property-wide geophysics ahead of the arrival of the exploration team, led by our new project manager Max Keogh, P. Geo. The information to be provided by the High-Res Mag and radiometrics survey will greatly assist our technical team to be highly effective in our aggressive exploration program aimed to further understand and identify additional key features and sub-surface structures for first priority drill targets," commented Peter A. Ball, President & CEO. "The large mineralized central core of the project, where grades have previously returned samples up to 23.2 g/t Au, will be prioritized to further assess the current high-grade targets for additional sampling, trenching, and structural review for a planned fall drill program. Raw data obtained over the weekend from the geophysical survey has identified new areas of interest throughout the project. Reconnaissance explorations teams will be immediately directed to review these new zones and structures. The data from the geophysical program is currently being fully processed, and the final interpretation is to be completed by the end of the week. This will further assist in identifying other additional areas of interest across the large 11,000+ hectare land package."

NV Gold has commenced an aggressive exploration program at its new high-grade Exodus Gold Project, with the aim of identifying multiple high-grade targets to be tested by a focused diamond drill program in the fall of this year. Field programs operating this summer and fall will include mapping, rock and soil sampling, trenching, and structural modelling to help finalize drill targeting, as well as the collection of environmental data necessary for drill permitting. Results of the field programs are anticipated for timely release as the company continues to advance the Exodus Gold Project.

COVID-19 Response:

During the COVID-19 pandemic, NV Gold is committed to advancing exploration in a socially responsible manner, respecting good health and safety guidelines to protect its own employees, consultants and contractors, as well as the citizens of the communities in which it is working. NV Gold would like to thank all of its stakeholders for their patience and support.

Highlights of Aeromagnetic Geophysical Survey:

The final high resolution aeromagnetic ("High-Res Mag") and radiometric survey grid (below) was comprised of:

Note: Preliminary raw data was received on July 24^th, and full interpretation is expected to be completed in the upcoming week.

About the Exodus Gold Project

Please refer to the press release dated July 6, 2020, which highlights detailed information on the high-grade Exodus Gold Project, and the terms of NV Gold's option to acquire up to an 85% interest in the project. The link to the property page on the Company's website is located at www.nvgoldcorp.com/properties/british-columbia/exodus-gold-project/, and also includes detail on the Option Agreement Terms. Please visit the Company's Media section for the most recent interviews with NV Gold's CEO at the following link: www.nvgoldcorp.com/investors/media/.

The scientific and technical information contained in this news release as it relates to the Exodus Gold Project has been reviewed and approved by Max Keogh, P.Geo, Exodus Gold Project Manager and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About NV Gold Corporation

NV Gold (TSXV:NVX, OTC PINK:NVGLF) is a junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries in North America, leveraging its highly experienced in-house technical knowledge, and identifying and drilling 2-3 priority projects per year. NV Gold controls multiple drill-ready projects in Nevada, and has entered into an Option Agreement on the high-grade Exodus Gold Project in British Columbia, Canada.

On behalf of the Board of Directors,

Peter A. Ball

President & CEO

For further information, visit the Company's website at www.nvgoldcorp.com or contact:

Peter A. Ball, President & CEO
Phone: 1-888-363-9883
Email: peter@nvgoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

All statements other than statements of historical fact included in this release, including, without limitation, the details and timing for completion of exploration or development of the Project, that the geophysical surveys have identified new structures, and other future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

SOURCE: NV Gold Corp.