NV Gold Arranges Private Placement of Up to CDN$3,000,000

"Not for Distribution to the U.S. News Wire Services or for Dissemination in the U.S."

VANCOUVER, BC / ACCESSWIRE / August 4, 2020 / NV Gold Corporation (TSXV:NVX)(OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce that the Company has arranged subscriptions for a non-brokered private placement of units of the Company for gross proceeds in excess of CDN$2,500,000 and may accept subscriptions for up to CDN$3,000,000 (the "Placement").

"We are excited about our upcoming fall exploration programs, both in Nevada at our Sandy and Slumber Gold Projects, and at the optioned high-grade Exodus Gold Project in British Columbia," commented Peter A. Ball, President and CEO of NV Gold. "NV Gold continues to receive significant interest from multiple new investors related to the upcoming exploration program at the Exodus Gold Project, and also our plans for a busy fall season in Nevada. With our existing cash balance, and the funds from this financing, NV Gold will be funded for our planned activities well into 2021. In addition, NV Gold has outstanding in-the-money share purchase warrants, that could yield proceeds if exercised of approximately CDN$1.8 million. NV Gold, being armed with a strong treasury and very prospective and drill-ready gold projects, is well positioned to benefit from the strong gold market as it continues to move towards USD$2,000/oz, or beyond."

The Placement is an offering of up to 9,375,000 units (the "Units") at CDN$0.32 per Unit. Each Unit consists of one share and one-half of one share purchase warrant exercisable at CDN$0.40 per share for 24 months from issue of the Units. A finder's fee is payable on subscriptions by certain subscribers of 7% of the cash proceeds paid by such subscribers and warrants to purchase 7% of the number shares issuable to such subscribers in respect of their subscriptions for Units.

Closing of the Placement is conditional on acceptance of the TSX Venture Exchange. The proceeds of the Placement will be used by the Company for the advancement of existing properties, potential acquisition of new properties, and for general working capital. All securities issued under the placements will be subject to a four month hold period from the date of issue in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units in the United States. The Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About NV Gold Corporation

NV Gold (TSXV:NVX)(OTC PINK:NVGLF) is a 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 proposed raising of up to CDN$3,000,000, the Company's planned exploration activities and the other proposed uses of such funds 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.

SOURCE: NV Gold Corporation