NV Gold Initiates First Stage Drilling Program at the Discovery Bay Project

580 Hornby Street, Suite 588

Vancouver, British Columbia, V6C 3B6

Tel: +1 888 363 9883

www.nvgoldcorp.com

NV Gold Initiates First Stage Drilling Program at the

Discovery Bay Project

VANCOUVER, BC / ACCESSWIRE / April 7 2022 / NV Gold Corporation

(TSXV:NVX)(OTCQB:NVGLF), (Frankfurt: 8NV) (“NV Gold” or the “Company”)

is pleased to announce that the Company has initiated a first-stage four- hole drilling

program at the Discovery Bay Gold Project in Nevada.

The Discovery Bay Project is located approximately 14 km southeast of the McCoy- Cove

gold deposits in Lander County, Nevada (see figure 1).

The Discovery Bay target is focused on an almost unexplored window of Triassic

Osobb Mountain Quartzite and Cane Springs Limestone (host rocks at McCoy), along with

additional underlying promising host lithologies. Most of the target is covered by thin

layers of Tertiary volcanics (Basal Tuffs), Quaternary gravels and sediments with little

outcrop. Historical drilling in 2018 did encounter a promising layer of sulfidized intrusive

rocks in contact with decalcified and Au-anomalous silty limestones.

This initia l progra m will consi st of approxima tely 1500 – 1800 mete rs of reverse-

circulation drilling in fo ur holes. The Company expec ts the drilling to be completed in

approximately six weeks.

Discovery Bay is in alignment with major multi-million-ounce gold districts, starting

in the north with Turquoise Ridge and Phoenix, and in close proximity to the McCoy- Cove

Mines. This mineralized NS structural trend is also referred to as the “Rabbit Suture

Corridor”. To have potentially mineralized McCoy-Cove host lithologies exposed at

the surface, and mostly being covered by Tertiary volcanics and Quaternary gravels,

makes this a prime target for a potential exciting discovery! NV Gold has conducted

ground gravity and IP (Induced Polarization) surveys to capture the full extent of this

narrow Triassic window (see figures 1 & 2). This first pass of drilling will be very wide-

spaced (a kilometer plus!). It was designed to calibrate our geophysical models and to

confirm the presence of host lithologies. NV Gold is aiming for a Carlin-type gold system

and any type of intercepted alteration or gold mineralization can be considered a success

and opens a path to a possible new discovery,” stated Thomas Klein, VP Exploration,

NV Gold.

John Watson, President, and CEO of NV Gold added “The Discovery Bay program is

the latest step in our stated plan to investigate and drill multiple projects each year to

advance our Nevada portfolio. Although Discovery Bay will be a somewhat modest

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initial program, our near-term project goal is the development of a three-dimensional

model of this promising geologic setting.

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 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 Company’s planned exploration activities,

the size and timing for completion of the drill program and the potential for a Carlin-

type gold system or another type of discovery at Discovery Bay 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

lack of continuity of mineralization, 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

because of new information, future events or otherwise, except as otherwise required by

applicable securities legislation.

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Figure 1: Project Location Map

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Figure 2: The Discovery Bay target with almost unexplored window of Triassic

Osobb Mountain Quartzite and Cane Springs Limestone (host rocks at McCoy), and drill

hole locations.

Figure 3 : Drill rig on site TOF-2.

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