NV Gold Receives Permits for its Phase II Drill Program at its Slumber Gold Project In Nevada

580 Hornby Street, Suite 588

Vancouver, British Columbia, V6C 3B6

Tel: +1 888 363 9883

www.nvgoldcorp.com

NV Gold Receives Permits for its Phase II Drill Program at its

Slumber Gold Project In Nevada

October 27, 20 20 - Vancouver, British Columbia – NV Gold Corporation (TSX.V:

NVX; OTCQB: NVGLF) (“NV Gold” or the “Company”) is pleased to announce it has

received all necessary drill approvals for its 2020 reverse circulation drill campaign at its

100% controlled Slumber Gold Project (“Slumber”) located approximately 50 miles

northwest of Winnemucca, Humboldt County , Nevada, USA. NV Gold’s 2020 drill

program, anticipated to commence in early November, will encompass up to 2,500 meters

in up to 10 reverse circulation (“RC”) drill holes.

"Targets generated at Slumber by recent CSAMT geophysical surveys are exceptional. Our

technical team, which includes Dr. Quinton Hennigh and Dr. Odin Christensen, believe s

the Slumber Gold Project may potentially host a buried high grade gold system at depth

beneath shallowly drilled areas tested last year ," commented Peter A. Ball , President

and CEO of NV Gold. "In addition to planned drilling at Slumber, NV Gold’s Sandy Gold

Project drill campaign is now underway in western Nevada, and work at the Exodus Gold

Project in British Columbia continu es to advance the project to drill readiness. T his fall

season is quickly shaping up to be NV Gold’s busiest and most exciting exploration period

in many years."

For additional information on the Slumber Gold Project, which was leased in 2019, please

refer to NV Gold’s press release, dated September 25th, 2020. In addition, see below for a

recap of the drill targets generated from the recent controlled source audio -

magnetotelluric (“CSAMT”) geophysical survey.

Interpretation of the recent CSAMT data highlight ed several high -angle high -

resistivity zones within a north -northeast -oriented focus area generally coincident with

the area of reduced magnetic response. Such high -resistivity zones, surrounded by

zones of greater conductivity, are a key feature characteristic of epithermal veins.

These relationships are illustrated on one representative geophysical cross -section in

Figure 1. Similar features are present on five of the six CSAMT lines.

Figure 1. Slumber Project Area CSAMT Line 4 viewed looking northeast. Cooler colors image rock

masses with grea ter resistivity. The image has been interpreted to show several high -angle resistive

zones, surrounded by more conductive rock. The blue resistive cap corresponds to silicified outcrops.

When compared to past drilling, the new model suggests that the drilling, primarily

targeted by surface geologic features, and did not test deep enough as illustrated

in Figure 2.

Figure 2: Slumber Project Area CSAMT Line 4 viewed looking northeast. Cooler colors image rock

masses with grea ter resistivity. The traces of several historic drill holes are shown and indicates that

the holes were not drilled deep enough to intersect possible zones of high -angle veining and

mineralization.

Quinton Hennigh (Ph.D., P.Geo.) is a Qualified Person pur suant 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, Chairman and a Director of Novo Resources Cor p.

About NV Gold Corporation

NV Gold ( TSXV: NVX, OTCQB: NVGLF) is a well-financed junior exploration

company based in Vancouver, British Columbia that is focused on delivering value through

mineral discoveries in North America, leveraging its highly experienced in-house technical

knowledge, and identifying and drilling 2 -3 priority projects per year. NV Gold controls

multiple drill-ready projects in Nevada, and has entered into an Option Agreement on the

high-grade Exodus Gold Project in British Columbia, Canada.

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 this release, including, without limitation, statements regarding the

Company’s planned exploration activities , including executing a drill program at the Sandy , Slumber and

Exodus Gold Projects in the Fall of 2020, 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 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.