Nv GOLD Enters into Strategic Data Relationship IN Nevada with Goldspot Discoveries Corp.
580 Hornby Street, Suite 588
Vancouver, British Columbia, V6C 3B6
Tel: +1 888 363 9883
www.nvgoldcorp.com
NV GOLD ENTERS INTO STRATEGIC DATA RELATIONSHIP IN NEVADA
WITH GOLDSPOT DISCOVERIES CORP.
June 2, 2020 - Vancouver, British Columbia – NV Gold Corporation (TSX.V: NVX;
US: NVGLF) (“NV Gold” or the “ Company”) is pleased to announce the Company has
entered into a strategic data relationship with GoldSpot Discoveries Corp. (“GoldSpot”)
(TSXV: SPOT).
“I am excited to build a technical relationship with GoldSpot to fully explore, for the
first time, our extensive geological databases in Nevada utilizing their advanced,
proprietary technolog y in combination with our industry recognized technical team ,”
commented Peter A. Ball, President and CEO of NV Gold. “GoldSpot’s team is clearly
recognized as the leader in the industry to assist companies fully evaluate and analyze their
projects and/or data available, highlighting prospective targets, and yielding opportunities
for new discoveries. With a robust gold market, a tight share structure, no debt, and the
recently oversubscribed private placement closed on May 26 th, 2020, we are excited for a
busy 2020 exploration season ahead of us.”
Denis Laviolette, Executive Chairman and President of GoldSpot, said, “GoldSpot
Discoveries is excited to bring our big data solution to Nevada. It is the ideal data -rich
environment for our team to leverage our technology and skills to unlock significant value.
Unlike other jurisdictions, Nevada explorers are not obligated to release their exploration
data through state assessment requirements, and due to the robust amount of gold the State
has, billions of dollars in exploration have been spent and the data essentially hoarded.
We believe we will extract a substantial number of historical datasets, which were
originally collected in the 1970s through to the 2000s and inter rogate them with modern
techniques and technology. The data is in various states of either digital integration and/or
paper file format and will require immediate digitization, homogenization and analysis.
The final database developed together by GoldSpot and NV Gold, including their technical
team consisting of exploration legends, Dr. Quinton Hennigh and Dr. Odin Christensen ,
will have a cutting-edge advantage over other explorers in Nevada. GoldSpot and NV Gold
will look to acquire highly prospective projects, which in turn GoldSpot will be rewarded
royalties.”
In connection with the strategic relationship, GoldSpot and NV Gold have entered into a
services agreement, pursuant to which, among other things: (i) NV Gold will grant
GoldSpot a 0.5% net smelte r return royalty (“NSR”) on prospects/projects identified,
staked or acquired using its mineral databases; (ii) GoldSpot will have the option to
purchase a further 0.5% NSR on such identified assets derived from the mineral databases
for a purchase price o f CDN$1,000,000; and (iii) for a term of 18 months GoldSpot will
provide technical services at market rates related to the evaluation and identification of
mineral prospects within NV Golds mineral geological databases and provide technical
services for exploration activities in Nevada.
About GoldSpot Discoveries Corp.
GoldSpot Discoveries Corp. (TSXV:SPOT) is a technology and investment company that
leverages machine learning to reduce capital risk while working to increase efficiency and
success rates in resource exploration and investment. GoldSpot Discoveries combines
proprietary technology with traditional domain expertise, offering a front -to-back service
solution to its partners, and in some cases, capital to kickstart exploration programs.
GoldSpot's solutions target big data problems, making full use of historically unutilized
data to better comprehend resource property potential.
About NV Gold Corporation
NV Gold is a junior exploration company based in Vancouver, British Columbia that is
focused on delivering value through mineral discoveries and project advancement.
Leveraging its highly experienced in -house technical knowledge, NV Gold’s geological
team intends to utilize its geological databases, which contain a vast treasury of field
knowledge spanning decades of research and exploration, combined with a portfolio of
mineral properties in Nevada, to prioritize key projects for focused exploration programs.
On behalf of the Board of Directors,
Peter A. Ball
President and 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: [email protected]
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 th e
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
future plans and objectives of the Compa ny, including exploration plans, success from technology used by
GoldSpot Discoveries 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 a nd 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 ca pital 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.