NV Gold Provides Update of Exploration at its ATV Gold Project, Nevada

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NV GOLD CORPORATION

Suite 588 – 580 Hornby Street

Vancouver, B.C. Canada V6C 3B6

May 24, 2018 Trading Symbol: NVX

NV Gold Provides Update of Exploration at its ATV Gold Project,

Nevada

Vancouver, British Columbia – NV Gold Corporation (TSX:V: NVX) (“NV Gold” or

the “Company) has recently completed follow up dril ling and received analyses from its

second diamond core hole ARC-6C at its 100 % controlled Across-the-Valley (“ATV”)

Gold Project in north-central Nevada.

As reported by the Company in news re leases dated March 1, 2018, hole ARC-6C

intercepted a sequence of laminated muddy to silty carbonate-bearing rocks interpreted to

belong to the lower plate of the Roberts Mount ain thrust fault. NV Gold chose to extend

this hole to provide a more thorough test of stratigraphy in this area (please refer to the

news release dated March 2, 2018 for further de tails). This hole was terminated at 859.5

m (2,820 ft) as discussed in a news release dated April 5, 2018.

After penetrating 239.4 m of Tertiary volcanic rocks, hole ARC-6C intercepted Paleozoic

siliciclastic sedimentary rocks thought to belong to the upper plate of the Roberts

Mountain thrust fault. Between 346-358 m, a z one of intense sheari ng, interpreted to

represent the Roberts Mountain thrust fault was encountered. Below this and continuing

to a depth of approximately 488 m, a seque nce of laminated muddy to silty carbonate-

bearing rocks interpreted to be part of the lower plate of the Roberts Mountain thrust fault

was intercepted. Siliciclastic rocks, some moderately calcareous, and including short

intervals of igneous rocks, possibly mafic lava flows of dikes, persisted to the end of the

hole at 859.5 m. This lower sequence of siliciclastic rocks is believed to possibly be a

fault repetition of the upper plate assemblage.

Anomalous gold (10-34 ppb) and trace elements (2-5 ppm silver, up to 77 ppm arsenic,

up to 85 ppm molybdenum, up to 18 ppm antimony, and up to 25 ppm selenium)

accompany a zone of clay alteration, decalci fication and fine-grained pyrite from 359.8-

399.4 m. Additional altered zones with simila rly elevated pathfinder elements were

encountered from 425.8-430.8 m, 533.2-549.1 m, 589.8-597.0 m, 617.6-619.6 m

(includes 19.5 ppm Ag), 818.9-826.4 m, and 842.2-859.5 (end of hole). No potentially

economic gold grade mineralization was encountered.

A persistent presence of elevated selenium and molybdenum is notable in the pathfinder

elemental suite as are silver values commonly over 1 ppm. NV Gold interprets this to

possibly reflect the signature of a mid-Miocene epithermal system rather than an older

Carlin-type system where these elements w ould be expected to be relatively low and

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arsenic, antimony and mercury much higher. Notable selenium, molybdenum and silver

are present at the nearby mid-Miocene Ken Snyder and Mule Canyon epithermal gold

deposits.

Recent field reconnaissance by NV Gold geol ogists in an area approximately 2.5 km

southeast of hole ARC-6C has identified an area approximately one km across

encompassing high-level epithermal silica and clay alteration in Miocene volcanic rocks

(see Figures 1&2 ). Although distal, NV Gold believes it is possible that the altered and

trace element anomalous zones encountered in hole ARC-6C may be connected to this

hydrothermal center. Detailed mapping of this newly discovered zone is currently being

undertaken and a soil sampling program has just been completed over the core of this

area.

Additional Drilling

In addition to hole ARC-6C, NV Gold has recently completed three additional holes at

ATV, diamond drill hole ARC-14C and reverse circulation drill holes ARC-15 and ARC-

16 (see Figure 3).

Hole ARC-14C, situated approximately 0.8 km north of ARC-6C, wa s pre-collared to a

depth of 256 m utilizing a reverse circulation drill, then extended by diamond core to a

depth of 467.6 m. Paleozoic silic iclastic rocks thought to bel ong to the upper plate of the

Roberts Mountain thrust fault were enc ountered from 182.9-467.6 m. Hydrothermal

alteration was not observed in these rocks.

Hole ARC-15, situated approximately 1.85 km southeast of ARC-6C, was drilled to a

depth of 323.1 m encountering Miocene vo lcanic rocks to a depth of 192.0 m and

Paleozoic siliciclastic rocks to the end of the hole. Hole ARC-16, situated approximately

2.5 km southeast of ARC-6C, encountered Mioc ene volcanic rocks to the end of the hole

at 301.8 m. Hydrothermal alteration including clay alteration and silicification were noted

from 18.3-182.9 m in hole ARC-15 and from 234.7-301.8 m in hole ARC-16 and may be

related to the newly discovered zone of epithermal alteration discussed above.

Analyses from holes ARC-14C, ARC-15 and ARC-16 are expected back in the next 3-5

weeks.

NV Gold’s CEO, John Watson commented “Although results from ARC-6C are

disappointing, we feel we adequa tely tested the potential for buried Carlin mineralization

in the central part of the ATV property. We now recognize that the alteration and

anomalous trace elements observed in this hole likely reflect an overprinting from a mid-

Miocene epithermal system mapped to th e east. Recent fiel d reconnaissance has

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identified a one km wide zone of high-level ep ithermal alteration in the southeastern part

of the project area approximately 2.5 km away from hole ARC-6C . We have already

completed a soil sampling program over this new zone and will evaluate it further

through detailed mapping. Further drilling will be considered once this data is in hand.”

Quality Control and Quality Assurance

NV Gold staff, under the supervision of Dr . Quinton Hennigh, a director of NV Gold

oversaw drilling and drill sampling discussed in this news release. RC samples were

submitted to ALS Global, Reno, Nevada (“ALS”) where they were crushed, pulverized

and analyzed. Gold was determined by fire assa y of a 30 gram charge with an ICP finish.

Trace element analyses were performed on pulps subjected to 3-acid digestion followed

by mass spectrometric analysis. Diamond co re was marked for sampling by NV Gold

staff then submitted to ALS for sawing and sa mpling. Half splits of core were crushed,

pulverized and analyzed under the same proced ure as RC samples. Standard and blanks

were systematically introduced into the sample stream.

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

43-101 and has reviewed and approved the tech nical information contained in this news

release. Dr. Hennigh is a direct or of NV Gold and is not independent and is also the

President, Chairman and a Director of Novo Resources Corp.

About NV Gold Corporation

NV Gold is a junior exploration company base d in Vancouver, British Columbia that is

focused on delivering value through mineral discoveries utilizing the prospector

generator model. Leveraging its highly e xperienced in-house technical knowledge, NV

Gold’s geological team intends to use its geological database, which contains a vast

treasury of field knowledge spanning decades of research and exploration, combined with

a portfolio of mineral properties in Nevada , to create opportunities for lease or joint

venture. NV Gold plans to aggressively acquire additional land positions for the growth

of its business.

On behalf of the Board of Directors,

John E. Watson

President and CEO

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

John E. Watson,

Phone: 303.674.9400

Email: [email protected]

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Neither the TSX Venture Exchange nor its Regu lation Service Provider (as that term is

defined in the policies of the TSX Ventur e 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 incl uded in this release, including, without limitation, statements regarding

interpretations of rock formations, including that any rock belongs to one of the plates of the Roberts

Mountain thrust fault or a fault repetition thereof, or may reflect the signature of a mid-Miocene epithermal

system rather than an older Carlin-type system, a connection, possibly an overprinting, between the mid-

Miocene epithermal system mapped to the east and the altered and trace element anomalous zones

encountered in hole ARC-6C and the potential to sell, lease or joint venture any of the Company’s

properties, and other future plans and objectives of the Company, including exploration plans, 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 and other risks detailed herein and from time to time in the filings made by the Company with

securities regulators. The Company disclaims any inten tion 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.

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(Figure 1: Outcrop of silicified and clay altered tuffaceous volcanic rocks from a newly

discovered one km wide zone of hydrothermal alteration discovered at the ATV project.

These rocks are mid-Miocene in age. Alteration such as this is considered high-level and

may be an indication of precious metal-bearing zone at depth.)

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(Figure 2: Silicified tuffaceous volcanic rocks from a newly discovered one km wide zone

of hydrothermal alteration discovered at the ATV project. Note the heavily silicified

fractures extending from the foreground into the distance. Such silicification may be an

indication of precious metal-bearing veining at depth.)

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(Figure 3: Map showing the location of drill holes in the eastern part of the ATV project

area and the newly discovered zone of epithermal alteration.)