NV Gold Corporation (“NV Gold” or the “Company”) (TSX.V - NVX) is pleased to announce it has signed a contract with Drift Exploration Drilling of High River Alberta to carry out a reverse-circulation drill program on its 100% owned Afgan-Kobeh gold project located in Eureka County, Nevada. The 20-25 hole 2,500 m drill program is expected to commence in mid October.
The drill program will focus on expansion of the NI 43-101 compliant gold resource of 50,000 ounces (1.85 million tons @ 0.027 oz Au/ton (0.926 g Au/t)) Indicated and 34,000 ounces (1.29 million tons @ 0.026 oz Au /ton (0.891 g Au/t)) Inferred. (Source: Midway Gold Corp., 2007 using a cut-off of 0.010 oz Au/ton (0.343 g Au/t)). The Afgan-Kobeh Carlin – type deposit remains open in several areas and these areas will be the focus of the upcoming drill program.
The Afgan-Kobeh property, located in northeastern Nevada approximately 28 miles northwest of the town of Eureka, covers 2,180 acres and consists of 109 unpatented claims The project’s potential is enhanced by it’s location along the Cortez Trend between the previously-mined Gold Bar Deposit (Atlas, US Gold) and the producing Archimedes Mine (Barrick Gold).
NV Gold is a newly listed TSX Venture company with a focus on developing goldcopper resources in politically stable, mining friendly jurisdictions. The Company has a proven management team and extensive connections to projects and financing.
ON BEHALF OF THE BOARD OF DIRECTORS OF
NV Gold Corporation
“John E. Watson”, President, CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, regarding the anticipated completion of acquisition of a property and a technical report in respect thereof, the existence of a resource on the property and the securing of drilling permits and undertaking drilling on the property. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include not receiving approval of the TSX Venture Exchange to the acquisition, not receiving approval of a drilling permit and uncertainties associated with mineral resources including unsuccessful exploration results, the availability of funding for mineral exploration and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release. NR 2010 - 8