Nv GOLD Corporation Outlines Its Planned 2023 Drill Priorities and Exploration Activities

580 Hornby Street, Suite 588

Vancouver, British Columbia, V6C 3B6

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www.nvgoldcorp.com

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 202 3,

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 Distr ict 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 nea r-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 geochemi cal

surveys (see Company’s press releases Oct ober 26, 2022, and December 1 4,

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 Figure s 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, t he 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

1 The potential quantity and grade of the resources in the SW Pipe project is conceptual in nature and there

has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result

in the target being delineated as a mineral resource.

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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.

3. Triple T Gold Project:

Triple T 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. The Triple T p roperty, comprising 41 unpatented

mining claims, is 100% -owned by NV Gold. The Company has received

approval of the Triple T Notice of Intent (NOI) for 10 additional RC holes and

commencement of drilling is projected for Q2 2023, subject to capital

availability.

Additionally, the Company hopes to add 5 -7 new greenfield exploration projects

into its project pipeline in 2023 through a detailed analysis of over 30 targets

identified by its Data Library Project conducted in collaboration with GoldSpot

in 2022. The Com pany will also evaluate several of its most prospective early -

stage properties that are already in its portfolio.

About the Data Library Project :

NV Gold’s Data Library consists of multiple data compilations, covering Nevada

and elsewhere, including extensive proprietary exploration files created by

AngloGold, USMX, Canyon Resources and others. Multiple significant regional

geological, geochemical, and geophysical exploration programs generated this

data, compris ing over 40 years of effort, and at a historical cost of more than

US$20 million (refer to press release August 11 , 2022). GoldSpot handled the

legacy data inventory and identified 31 targets using its proprietary AI

technology, which will be field-evaluated in Q1 and Q2 of 2023.

About the Gold Bell and Teton Projects:

NV Gold’s previously-acquired Gold Bell and Teton projects are located in the Bell

Mining District (Walker Lane), in the immediate neighborhood to Fortitude Gold

Corp.’s Golden Mile property in Mineral County, Nevada (see Figure 4). The

Golden Mile District is characterized by intrusion-related gold-copper exo- and

endoskarn associated with massive replacements of carbonate rocks and shear

hosted gold. Historical drill intercepts were reported in the mul tiple grams up to

ounces per ton gold range s. The Teton project , with potential for near -surface,

oxide-gold mineralization, underwent some limited drilling in the 1980s (assays are

unknown); while the Gold Bell property, a potential extension of the known Golden

Mile high-grade gold mineralization, has never been drill-tested. Evaluation of the

Gold Bell and Teton properties will go hand in hand with evaluating the GoldSpot

targets in Q1 and Q2 of 2023.

Thomas Klein, VP Exploration stated, “I am excited to enter the new year

seeing the gold price rising again and to get started with a new drilling

campaign , beginning with our SW Pipe project in Q1, which will be followed by

drilling our Slumber and Triple T projects after its successful completion. SW

Pipe has prominently -defined geochemistry anomalies suggesting it has the

potential to host a Carlin -type gold system at de pth. In addition, the Company

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did its homework by generating multiple new discovery -opportunities through

the data Library Project and through continuous land acquisitions. The

Company holds strategic land positions throughout the state and is well

positioned to kick -off 2023 by making the next multi -million -ounce gold

discovery in Nevada”.

Figure 1: NV Gold Landholding Map .

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Figure 2: SW Pipe Location in Proximity to the Cortez and Pipeline Gold

Mines.

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Figure 3: SW Pipe Soil Geochemistry and Mercury Vapor Target , and

proposed Drill Hole Location .

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Figure 4: Gold Bell and Teto n Project Location s.

About NV Gold Corporation

NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-organized

and well-financed exploration company with ~80 million shares issued and no debt.

The Company is based in Vancouver, British Columbia, and Reno, Nevada and is

focused on delivering value thro ugh mineral discoveries in Nevada, USA.

Leveraging its expansive property portfolio, its highly experienced in -house

technical team, and its extensive geological data library, 202 3 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 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.

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Forward Looking Statements

This press release contains “forward -looking information” within the meaning

of applicable securiti es laws that is intended to be covered by the safe harbors

created by those laws. “Forward -looking information” includes statements that

use forward -looking terminology such as “may”, “plans to”, “will”, “expect”,

“anticipate”, “believe”, “continue”, “potential” or the negative thereof or other

variations thereof or comparable terminology. Such forward -looking

information includes, without limitation, information with respect to the

Company’s expectations regarding the prioritization of certain projects, capital

availability, exploration campaigns, anticipated sch edule of drilling plans and

potential results, the ability of the Company to take on new exploration projects,

the ability of the Company to evaluate its properties, and the anticipated

sequence of events with respect to drilling events and/or priorities.

Forward -looking information is not a guarantee of future performance and is

based upon a number of estimates and assumptions of management at the

date the statements are made. Furthermore, such forward -looking information

involves a variety of known and u nknown risks, uncertainties and other factors

which may cause the actual plans, intentions, activities, results, performance

or achievements of the Company to be materially different from any future

plans, intentions, activities, results, performance or ac hievements expressed

or implied by such forward -looking information.

The Company cautions that there can be no assurance that forward -looking

information will prove to be accurate, as actual results and future events could

differ materially from those an ticipated in such information. Accordingly,

investors should not place undue reliance on forward -looking information.

Except as required by law, the Company does not assume any obligation to

release publicly any revisions to forward -looking information contained in this

press release to reflect events or circumstances after the date hereof.

SOURCE: NV Gold Corporation