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NV GOLD ANNOUNCES EQUITY FINANCING AND SHARES FOR DEBT

Vancouver, British Columbia – NV Gold Corporation (TSX-V: NVX) (the "Company") announced today that it is undertaking a non-brokered
private placement financing (the "Private Placement") of up to 4,500,000 units (the "Units") at $0.055 per Unit, for gross proceeds of up 
to $247,500. Each Unit will consist of one common share of the Company and one-half of one non-transferable common share purchase
warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at $0.10 for a period of two
years. The expiry date of each Warrant is subject to acceleration such that, should the volume weighted average price of the common shares
of the Company exceed CDN$0.20 for twenty consecutive trading days, the Company may notify the holder in writing that the Warrants will
expire 20 trading days from receipt of such notice unless exercised by the holder before such date.

The Company has also agreed to complete a shares for debt transaction with its President and CEO under which he will acquire 1,125,670
common shares of the Company at a deemed price of US$0.075 per share in settlement of US$84,425 in debts of the Company payable to him.

Closing of the Private Placement and the shares for debt transaction are subject to approval of the TSX Venture Exchange and completion of
final documentation. The securities to be issued under the Private Placement and the shares for debt transaction will be subject to a four-
month hold period.

Proceeds of the Private Placement will be used for property maintenance expenditures and for general corporate purposes.

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 plans for the completion of a private placement financing 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 market prices, availability of capital and financing, general economic, market or business conditions, regulatory changes, 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.