NV Gold Arranges CDN$3 Million Private Placement and Prepares for its Most Active Exploration Year on Record

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

VANCOUVER, May 5, 2021 - NV Gold Corp. (TSXV:NVX)(OTCQB: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 of CDN$3,000,000 (the "Placement").

"I would like to welcome the large strategic lead orders from both new European and North American investors alongside the continued strong support from our existing investors, including Crescat Capital. With a commodities supercycle underway, including positive sentiment in the gold sector, NV Gold is positioned extremely well to participate with a very busy exploration year planned in Nevada in 2021. We appreciate the patience of our long term shareholders who are supportive in our systematic and focused exploration strategy to make Nevada's next big gold discovery," commented Peter A. Ball, President and CEO of NV Gold.

The Placement arranged is up to 12,000,000 units (the "Units") at CDN$0.25 per Unit. Each Unit will consist of one Share and one Warrant exercisable at CDN$0.40 per share for 36 months from issue of the 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. To minimize dilution, the Placement will not exceed CDN$3 Million.

NV Gold's President and CEO added, "The combination of our recent US$10 million option exploration agreement with Hochschild Mining (US) Inc. on our SW Pipe Gold Project, our follow-up exploration programs at our Sandy and Slumber Gold Projects after all assays are received and modelled, and key potential accretive acquisitions of new drill ready gold projects currently under review provide opportunities for a new discovery in Nevada. In addition, we continue to review other projects within our extensive Nevada gold portfolio with strategic groups for additional option agreements. With a strong treasury, a robust gold market, 100% ownership of an extensive gold property portfolio in Nevada, a new strategic partner, a globally recognized technical team, a focused high impact exploration plan for 2021, and supportive shareholders, I couldn't be more excited for the year ahead."

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities 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)(OTCQB:NVGLF) is a well-financed exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries in Nevada, USA, leveraging its highly experienced in-house technical knowledge.

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, and the potential for a discovery at its properties 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, the extent to which mineralized structures extend on to the Company's Projects 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 Corp.