NV Gold Commences Phase One Drill Program at SW Pipe Gold Project

VANCOUVER, May 10, 2023 - NV Gold Corp. (TSXV:NVX) (OTCQB:NVGLF) (FSE:8NV) ("NV Gold" or the "Company") is pleased to announce that it has commenced the phase one Reverse Circulation ("RC") drilling program at the Company's 100% owned SW Pipe Gold Project located in Lander County, approximately 6 km (3.7 miles) southwest of the Pipeline gold mine in the central Cortez gold belt of north-central Nevada (see Figure 1). During this first phase of drilling, a total of 700 - 800 meters will be drilled by Nevada based Envirotech Drilling, LLC ("Envirotech") and is expected to take approximately 8-16 days to complete.

Drilling will be following up on results from the geochemical study carried out in 2022, which identified a large and comprehensive zone of overlapping Carlin-type anomalies including gold, arsenic, antimony, mercury, thallium and selenium.

V.P. Exploration Thomas Klein commented, "I am excited to see the start of drilling at SW Pipe. Based on the work carried out in 2022, this first phase of drilling has the potential to identify a Carlin-type gold discovery at SW Pipe".

About NV Gold Corporation

NV Gold Corp. is a well-organized exploration company with ~80 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 promises to be highly productive for NV Gold.

On Behalf of the Board of Directors,

John Seaberg, Director, and CEO

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

Freeform Communications at 604.245.0054

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

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and statements that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company and include, without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the potential quantity and grade of mineral resources identified in the Exploration Target and the Company's current expectations regarding future exploration and development plans. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.

SOURCE: NV Gold Corp.