Van Hoof Industrial Holdings Ltd. Acquires Additional Shares of NSGold Corporation

BEDFORD, NS / ACCESSWIRE / August 26, 2020 / Van Hoof Industrial Holdings Ltd. ("VHIH") of Tortola, British Virgin Islands has acquired 150,000 common shares of NSGold Corporation (TSXV:NSX) ("NSGold") at a price of $0.10 per share, for total proceeds of $15,000, upon the exercise by VHIH of common share purchase warrants. The foregoing common shares represent 1.8% of the issued and outstanding common shares of NSGold.

Immediately following the acquisition of these common shares, VHIH directly and indirectly owns or controls the following NSGold securities: (i) 8,554,827 common shares, representing 49.4% of the issued and outstanding common shares of NSGold, and (ii) common share purchase warrants in respect of 475,000 common shares. Assuming the exercise of all warrants held by VHIH, it would own 9,029,827 common shares, representing 50.7% of the NSGold common shares that would then be issued and outstanding.

VHIH is a private company controlled by Johannes H.C. van Hoof, Chief Executive Officer, Chairman and a director of NSGold. VHIH acquired the 150,000 common shares upon the exercise of common share purchase warrants for investment purposes, and in accordance with applicable securities laws VHIH may, from time to time and at any time, acquire additional securities of NSGold (the "Securities") in the open market or otherwise, and VHIH reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of NSGold and other relevant factors.

This news release is being issued under the early warning provisions of Canadian provincial securities legislation. VHIH has filed an early warning report in respect of the acquisition of the shares on SEDAR under NSGold's company profile.

For further information, please contact either:

Johannes H. C. van Hoof
Chairman, Van Hoof Industrial Holdings Ltd.
Trident Chambers
Wickhams Cay
P.O. Box 146
Road Town, Tortola
British Virgin Islands
hans.vanhoof@nsgoldcorp.com

Glenn Holmes
Chief Financial Officer, NSGold Corporation
902-483-2308
glenn.holmes@nsgoldcorp.com

Neither 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 or accuracy of this release.

SOURCE: NSGold Corporation