NV Gold Identifies Large Epithermal Gold System at the Sandy Gold Project in Nevada

580 Hornby Street, Suite 588

Vancouver, British Columbia, V6C 3B6

Tel: +1 888 363 9883

www.nvgoldcorp.com

NV Gold Identifies Large Epithermal Gold System at

the Sandy Gold Project in Nevada

June 23, 202 1 - NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV)

(“NV Gold” or the “Company”) is pleased to announce that the Company has received

all assays from its expanded reverse circulation (“RC”) drill program at its 100%

owned Sandy Gold Project (“Sandy”), located within the Walker Lane, Lyon County,

Nevada, USA. The expanded program was co mprised of 17 RC drill holes totaling

3,811 m (12,505 ft). This project was generated through a historical data review in

2020. A Phase 1 Maiden Drill Program was undertaken in early 2021 to test near

surface targets with rock chip assays of better than 1 gram gold and to broadly evaluate

the property for a potentially economic gold system.

“2021 will be one of NV Gold’s busiest exploration seasons in our corporate history, with

multiple drill-ready gold projects being planned for potential drill programs, including the

Sandy Gold Project. I look forward to the next Phase of the Sandy explora tion program

later this year after we review data gathered from the upcoming IP survey and additional

mapping,” commented Peter A. Ball, President and CEO of NV Gold. “With over

$4.5M in our treasury, we are well funded for 2021 and beyond.”

Key Highlight s from Phase 1 Drill Program at Sandy Gold Project

• RC drilling encountered a large epithermal gold system defined by extensive

argillic to propylitic alteration with intervals of moderate to intense quartz and

pyrite veining (refer to Figure 1 and 2). The mineralized vein system is hosted

by a thick andesite volcanic package. Some underlying shaly basement rocks

also showed visual evidence of veining and hydrothermal fluid flow. The

alteration footprint at the surface has a strike length of 2.4 k ms and a width of

approximately 500 meters .

• The best intercept from this program returned 22.9 meters @ 0.65 g/t Au from

29 meters to 51.9 meters (including 6.1 meters of 1.58 g/t Au at 38.1 meters)

in hole SD-4. All 17 RC holes intercepted anomalous gold and st rong trace

element geochemistry (refer to Figure 3 and 4). Twelve holes displayed grades

above a threshold of >3 meters @ >0.1 g/t Au. These gold results and associated

trace element geochemistry confirm the presence of a large epithermal gold

system.

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• Much of the property remains undrilled . T he system stays open at depth and

under late volcanic cover. With multiple targets remaining including in the

mineralized volcanics underlying shaly basement rocks, a potential Phase 2

Drilling Campaign is under review and will be guided by future Leapfrog

modelling and the results of IP survey.

• NV Gold plans to conduct an IP (Induced Polarization) survey and conduct

additional soil sampling to identify new prospective targets . Detailed mapping

of the pro perty is currently underway.

Results:

Hole

No.

From

(m)

To

(m)

Interval

(m) Au (g//t)

SD-1 13.7 24.4 10.7 0.27

SD-2 99.1 112.8 13.7 0.29

176.9 193.7 16.8 0.14

225.7 233.3 7.6 0.15

SD-3 228.8 230.3 1.5 1.73

SD-4 29.0 51.9 22.9 0.65

incl. 38.1 44.2 6.1 1.58

86.9 90.0 3.1 0.35

SD-5 79.3 85.4 6.1 0.29

SD-6 48.8 79.3 30.5 0.15

SD-7 204.3 207.4 3.1 0.13

SD-8 65.6 93 27.4 0.22

106.8 123.5 16.7 0.20

SD-9 anomalous gold values

SD-10 anomalous gold values

SD-11 61.0 65.8 4.8 0.34

102.2 109.8 7.6 0.14

135.7 141.8 6.1 0.15

167.8 175.4 7.6 0.12

SD-12 anomalous gold values

SD-13 anomalous gold values

SD-14 47.3 70.1 22.8 0.13

152.5 158.6 6.1 0.20

228.8 233.3 4.5 0.27

SD-15 4.6 10.7 6.1 0.34

50.3 54.9 4.6 0.15

SD-16 anomalous gold values

SD-17 129.6 132.7 3.1 0.49

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“During my first field review of Sandy in early 2021, I was impressed by the two kilometer

plus strike-length of alteration and the presence of high -grade gold within the area at up

18.1 g/t Au from rock chips. Our Phase 1 Drilling Program was designed to initially collect

data and to test as much of the property as possible. Expectations went high after drilling

into numerous quartz veins and also when two RC holes encountered the underlying and

mineralized shaly basement rocks. In conclusion, even though we did not hit any

economic grades immediately, these are encouraging results, and better gold g rades

are anticipated with zones of silicification/quartz veining yet to be determined . I look

forward to seeing the results of the proposed IP survey and additional mapping to

guide a potentia l Phase 2 Drilling Campaign in the early fall of 2021 ,” stated

Thomas Klein, VP Exploration, NV Gold.

Figure 1: Sandy Gold Project - Drill Sites and subcropping quartz vein material

Figure 2: Sandy quartz and pyrite veining

4

Figure 3: Gold -in-drill holes and multi -elements distribution in plan view

Figure 4: Gold -in-drill holes from Main Gold Zone in cross sections (note

potentially open mineralization at depth)

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Quinton Hennigh (Ph.D., P.Geo.) is a Qualified Person pursuant to National

Instrument 43 -101 and has reviewed and approved the technical information contained

in this news release. Dr. Hennigh is a director of NV Gold and is not independent and

is also the President, Cha irman and a Director of Novo Resources Corp.

About NV Gold Corporation

NV Gold ( TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-financed exploration

company 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, 2021 will be NV Gold’s busiest exploration y ear in its corporate

history.

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: [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 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 th is release, including, without limitation, statements regarding the Company’s planned

exploration activities, the Phase 2 exploration program at Sandy and locating the feeder structures at depth, the potential

for a discovery at its properties 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 extent to which

mineralized structures extend on to the Company’s Projects 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 even ts or otherwise , except as

otherwise required by applicable securities legislation.