NV Gold Corporation Announces Updates on Five Active Projects in Nevada, USA

VANCOUVER, October 7, 2021 - NV Gold Corp. (TSXV:NVX)(OTCQB:NVGLF) ("NV Gold" or the "Company") is pleased to announce that the Company has completed 3 Notices of Intent (NOI) to commence drilling at its 100% owned Slumber, Discovery Bay and Pickhandle projects in north-central Nevada, USA. The Company also reports that a 2D seismic survey has been completed at its optioned SW Pipe Project located along the Cortez Gold Belt approximately 6 km southwest of the Pipeline Gold Complex operated by Nevada Gold Mines.

Upcoming Plans:

• The upcoming Slumber drill program is designed to determine the extent of additional near-surface oxide-mineralization at its north-central Nevada (see Figure 1) project. The 6-8 drill program is expected to commence later this month.
• The Discovery Bay Project is located approximately 15 km southeast of the Cove-McCoy gold deposits in Lander County, Nevada (see Figure 1) controlled by i-80 Gold Corp. This North-South structural zone, also known as the "Rabbit Suture", hosts other significant gold deposits such as Turquoise Ridge, Twin Creeks as well as the Fortitude, Phoenix and Lone Tree Mines. Drilling of a four-hole recon program is expected to commence in November.
• The Pickhandle Project is located at the structural intersection of the Rabbit Suture (Hwy 305) and the Crescent Valley Fault Zone (see Figure 1). Pickhandle is located 25 kilometers south of the Discovery Bay Project. The 3-4-hole drilling program is anticipated to begin in December.
• The recently announced IP/Resistivity program at the Sandy Project has added a highly compelling target that will likely be drilled in Q1 2022. See news release on 9/28/2021.
• At the SW Pipe, a 2D Seismic survey was recently completed by the optionee to determine depth to Carlin-type host lithologies and structural drill targets (see Figure 2). Drilling at SW Pipe is scheduled for mid-2022 depending on core rig availability.

Our projects are pushing forward, and I am more than pleased to have our drill contract in place, equipment committed and permits in-hand. NV Gold has high-quality projects with excellent discovery potential that can now be drill-tested. Besides Slumber, Discovery Bay and Pickhandle, there are several more projects entering the project pipeline. These projects are moving toward permitting, fulfilling our goal of drill-testing multiple, high-potential projects within the next 18 months to deliver value to our shareholders," commented Thomas Klein, VP Exploration of NV Gold.

Figure 1: NV Gold's projects with NOIs in place and location of SW Pipe with 2D Seismic completed.

Figure 2: 2D Seismic equipment at SW Pipe with Cortez mines in the background.

On behalf of the Board of Directors,

John E. Watson
President & CEO

For further information, visit the Company's website at www.nvgoldcorp.com or contact: Freeform Communications Inc. at 604.245.0054

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

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the extent and timing of the Company's planned exploration activities, 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, The Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

SOURCE: NV Gold Corp.