NV Gold Completes Initial Drilling Program at Sandy; Initiates First Stage Drilling Program at the Pickhandle Gold Project

VANCOUVER, September 26, 2022 - NV Gold Corp. (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to announce that the Company has completed four Reverse Circulation ("RC") holes totaling 1,600 feet (487.7m) at the Sandy Project and has initiated a first-stage two to four-hole drilling program at the Pickhandle Gold Project in Lander County, Nevada ("Pickhandle").

About the Pickhandle Gold Property

• The Project is located at a structural intersection of the "Turquoise Ridge-Battle Mountain-McCoy Cove Structural Trend" (Hwy 305) and the Crescent Valley Fault Zone (see Figure 1), approximately 45 kilometers southwest of Nevada Gold Mine's Cortez and Pipeline multi-million ounce gold deposits.
• The Pickhandle gold target comprises a small window of Permian Edna Mountain Limestone cut by mineralized dikes. The surface geology, alteration, structural complexity, and geochemical environment are strongly indicative of a "Carlin-type" gold environment. Particularly the pervasive silicification (Jasperoids) and silica-flooded brecciation (see Figure 2), superimposed on ferroan dolomite, are especially encouraging. Gold values from rock chip sampling reached up to 1.5 g/t Au.
• It is particularly significant that the Pickhandle prospect area has never been drilled and shows no evidence of having been prospected in recent times.

Thomas Klein, VP Exploration commented, "I am pleased that NV Gold's drilling campaign is continuing with drill-testing the Pickhandle Gold Project at Carico Valley, Nevada. It is of special importance that Pickhandle has never been drilled. Pickhandle has the right structural complexity, "Carlin-type" ingredients, and is in an excellent neighborhood to the Cortez and Pipeline gold deposits. Our other active projects are standing in line to be drilled after Pickhandle and I am excited to continue with NV Gold's aggressive multi-project drilling campaign in Nevada (see Figure 3)"

Figure 1 - Location of Pickhandle
To view the full sized image, please click here

Figure 2 - Pickhandle Jasperoids and Pediment Target
To view the full sized image, please click here

Figure 3 - Project Landholding Page
To view the full sized image, please click here

About NV Gold Corporation

NV Gold (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-financed exploration company with ~80 million shares issued, a solid treasury and no debt. The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2022 promises to be highly productive for NV Gold.

On behalf of the Board of Directors,

John Seaberg, Director and CEO

For further information, visit the Company's website at www.nvgoldcorp.com or contact:

Freeform Communications at 604.245.0054

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. 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 Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

SOURCE: NV Gold Corp.