NV Gold Mobilizes Drill Rig to Its Slumber Gold Project in Nevada and Provides Corporate Update

Rhea-AI Summary

NV Gold Corporation (OTCQB: NVGLF) has mobilized a reverse circulation drill rig to commence drilling at its wholly owned Slumber Gold Project in Nevada, with plans for up to 2,500 meters across 10 drill holes. This follows delays caused by limited availability of drilling rigs in a busy exploration season. Additionally, upcoming drilling at the Sandy Gold Project will begin post-Slumber drill completion. In contrast, the Exodus Gold Project in British Columbia faces permitting delays, affecting exploration timelines. Financial and operational updates are anticipated in the weeks ahead.

Positive

• Commencement of drilling at Slumber Gold Project with up to 2,500 meters planned.
• Sandy Gold Project is fully permitted and prepared for its maiden drill program.

Negative

• Delays in the Exodus Gold Project due to permitting issues and COVID-19.
• Expected drilling at Exodus postponed to early 2021.

VANCOUVER, BC / ACCESSWIRE / November 25, 2020 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF) ("NV Gold" or the "Company") is pleased to announce that its contracted reverse circulation ("RC") drill rig has arrived on site at the 100% controlled and fully permitted Slumber Gold Project ("Slumber") located approximately 50 miles northwest of Winnemucca, Humboldt County, Nevada, USA. Drilling at Slumber is anticipated to commence at the end of the week and will encompass up to 2,500 meters in up to 10 RC drill holes. In addition to the drill program at Slumber, RC drilling will soon commence at the Company's 100% controlled Sandy Gold Project, located in Lyon County, Nevada.

"We are excited to commence the RC drill program at our Slumber Gold Project. Nevada is experiencing one of its busiest exploration seasons in years, and therefore, drilling at the Slumber and Sandy Gold Projects has been slightly delayed due to the lack of available drill rigs. Targets identified by our technical team at both Slumber and Sandy are exceptional and may potentially host buried high-grade gold vein systems," commented Peter A. Ball, President and CEO of NV Gold.

For additional information on the Slumber Gold Project, please refer to NV Gold's press releases, dated September 25^th and October 27^th, 2020.

Sandy Gold Project Update

The Sandy Gold Project ("Sandy") is fully permitted, and drill pads are now prepared for the upcoming maiden drill program comprised of up to 1,500 m in up to 10 RC drill holes designed to test for buried high-grade gold veins. The RC drill program at Sandy will commence immediately after completion of the Slumber drill program. Please refer to the Company's press release dated October 19^th, 2020 for additional information on the Sandy Gold Project.

Exodus Gold Project Update

The fall exploration program at the Exodus Gold Project ("Exodus"), located in central British Columbia, Canada, is now complete and the Company will provide an update with final exploration results in the next few weeks after an internal review. A drill permit has not yet been received and an early engagement agreement with the Lheidli T'enneh First Nation has not yet been finalized. Exploration drill permits in British Columbia are currently taking longer than anticipated to receive due to COVID-19 and other related issues.

Since acquiring the project in August 2020, NV Gold has completed a two-kilometer square soil geochemistry grid, excavated multiple surface trenches and conducted property wide geophysical surveys and follow-up reconnaissance exploration. Once all data has returned, NV Gold's technical team will undertake a review of the project. Due to permit delays, any proposed drilling will be delayed to early 2021. Please refer to previous press releases on the Company's website www.nvgoldcorp.com for additional information on the Exodus Gold Project.

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: peter@nvgoldcorp.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 Company's planned exploration activities, including executing a drill program at the Sandy, Slumber and Exodus Gold Projects, the timing of undertaking its work and disclosure of results, 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.

SOURCE: NV Gold Corporation

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https://www.accesswire.com/618309/NV-Gold-Mobilizes-Drill-Rig-to-Its-Slumber-Gold-Project-in-Nevada-and-Provides-Corporate-Update

FAQ

What is NV Gold Corporation's recent drilling activity at the Slumber Gold Project?

NV Gold has mobilized a drill rig to the Slumber Gold Project, planning to drill up to 2,500 meters in 10 drill holes.

What is the status of the Sandy Gold Project's drilling program?

The Sandy Gold Project is fully permitted and will start drilling immediately after the Slumber project is completed.

What are the challenges faced by the Exodus Gold Project?

The Exodus Gold Project is experiencing permitting delays, which have postponed any exploration drilling to early 2021.

How is NV Gold Corporation addressing delays in drilling operations?

NV Gold attributed drilling delays to the high demand for rigs in Nevada's busy exploration season.