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NV GOLD CORPORATION GRANTED EXPLORATION PERMIT FOR SWISS PROPERTY

Vancouver, British Columbia – NV Gold Corporation (TSX-V: NVX) (the "Company" or “NVX”) announced today that it’s wholly-owned Swiss subsidiary, SwissGold Exploration AG, has been granted a five-year exploration permit (the “Permit”) for gold and precious metals that covers an area of 115 square kilometers within the Communes of Disentis/Mustér, Sumvitg and Trun in Canton Graubunden, southeastern Switzerland.

John E. Watson, the President and CEO of the Company, commented that:  “I am very pleased by the support and encouragement the mayors of the Communes of Disentis/Mustér, Trun and Sumvitg have given to the Company in its pursuit of the Permit.  These mayors recognize the economic benefits that mining could offer their Communes, provided it can be undertaken responsibly, and we look forward to advancing exploration work on this promising project.”

The Permit is for a 5-year term, but is renewable for two additional 5-year terms.  Under the terms of the Permit, the Company must pay an initial fee for the permit, pay an annual fee of CHF 4,500 (4,500 Swiss Francs) and incur exploration expenditures of CHF 100,000 per year on the Surselva Property to maintain the Permit in good-standing.  Excess expenditures may be carried forward to meet expenditure requirements in future years.  The Permit was granted under the mining laws in place in Disentis/Mustér and Sumvitg.  Trun currently does not have its own mining law.  The three Communes have agreed to work to settle a harmonized mining law that will apply in all three Communes. The existing mining laws in Disentis/Mustér and Sumvitg provide that the Permit holder is entitled to a mining concession subject to completing a satisfactory feasibility study and environmental impact study, amongst other things.

The Company anticipates an aggressive field exploration program in 2013.  This program will expand upon exploration completed by SwissGold Exploration geologists in 2011 on the current property and on adjacent areas in the Commune of Medel.  Alluvial placer gold is present in streams draining the entire Surselva permit area, and previous exploration has defined a number of gold occurrences, including native gold, within crystalline basement rocks of the Tavetsch and Gotthard massifs of the Central Swiss Alps.  The Gotthard massif consists of granite, granitoid and polymetamorphic basement rocks.  The adjacent Tavetsch zone consists primarily of sericite schist with lesser volumes of pegmatite and lenses of ultramafic rocks and is interpreted as a major shear zone.  Most of the known gold occurrences are hosted within sericite-quartz-pyrite schist of the Tavetsch zone.  Sulfide minerals, dominated by pyrite and locally arsenopyrite, are usually associated with gold mineralization and occur as disseminations, veinlets with associated quartz, and often wispy layers or laminations of semi-massive sulfides with thicknesses of up to a few centimeters.   The gold mineralization at Surselva may be classified as orogenic gold-type mineralization, with considerable similarities to numerous gold deposits in Ontario, Canada. 

The Surselva project area was drill-tested by the Narex-Micham joint venture in 1986 and 1987.  A total of 17 diamond drill holes for 3865.45 meters tested three identified mineralized horizons.  Of these, 10 drill holes for 2766.15 meters were within the area of the current exploration permit.  Significant drill intersections are presented in the following table.  The Company is in possession of all known data from previous work, including all of the previously-drilled core.  The structural setting and the mineralized gold system is of substantial dimensions and is open laterally and at depth.

Hole Number

From, meters

To, meters

Intercept, meters

Gold, g/t

DH-86-02

50.8

63.5

12.7

0.51

including

61.6

61.9

0.3

4.95

74.5

101.7

27.2

0.97

including

77.8

79.95

2.15

7.95

249.75

252.8

3.05

3.50

including

249.75

250.4

0.65

3.09

and including

251.9

252.4

0.5

16.46

265.3

271.8

6.5

2.59

including

269.35

270.9

1.55

9.19

DH-86-03

84.8

109.55

24.75

0.6

including

92.9

93.95

1.05

3.01

DH-86-05

5.8

6.3

0.5

5.35

160.8

164.5

3.7

0.98

including

162.7

163.4

0.7

4.67

256.6

263.3

6.7

0.44

DH-86-06

76.4

91.4

15

0.66

98.4

109.2

10.8

2.15

including

104.2

105.2

1

5.91

including

107.2

108.2

1

3.49

250

287

37

0.94

DH-86-07

135.8

146.6

10.8

0.45

151.4

181

29.6

0.6

196.8

212.5

15.7

0.38

221.2

226.15

4.95

0.89

DH-86-08

178.35

216.1

37.75

0.6

245.9

262.65

16.75

1.07

DH-86-09

89.4

128.3

38.9

0.75

DH-86-10

136.3

148.25

11.95

0.45


Drill intersections reported are down-hole distances; true thicknesses of mineralization are not known. 

SwissGold Exploration geologists completed a program of reconnaissance prospecting and rock-chip geochemistry in 2011.  Of the 215 rock-chip geochemical samples collected across the permit area, 37 contained more than 1 g/t gold, 16 of these contained more than 2 g/t gold, and 7 of these contained more than 3 g/t gold, with a high value of 10.2 g/t gold in one sample. 

Dr. Michael Gustin of Mine Development Associates, an independent Qualified Person under NI 43-101, has reviewed and approved the technical information disclosed in this release.

On behalf of the Board of Directors,
(sgd.) "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: jewats@aol.com

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 geological potential of the properties and other future plans and objectives of the Company 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.