VANCOUVER, BC / July 29, 2020 / NV Gold Corporation (TSXV:NVX)(OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce that the Company, further to the completion of its property-wide helicopter-borne high resolution aeromagnetic ("High-Res Mag") and radiometric surveys, has increased the mineral claim holdings by 8.1% or 9.10 sq. km (910.13 ha) at the high-grade Exodus Gold Project ("Exodus") in the Cariboo Mining Division, 40 km NNW of Prince George, British Columbia. NV Gold holds an option to acquire up to an 85% interest in the Exodus Gold Project, including these additional claims. NV Gold's geological team recently commenced the Company's focused 2020 exploration program, designed to quickly identify and prepare drill targets to be tested by phase one diamond drilling later this year.
"After preliminary review of freshly collected geophysical data at the high-grade Exodus Gold Project, our technical team quickly identified additional key structures interpreted to be part of the extensive mineralizing system," commented Peter A. Ball, President & CEO. "We quickly increased our land position through staking to approximately 121.51 sq. km or 12,151 hectares. Final processing of the newly collected High-Res Mag and radiometrics data is nearly complete, and will be invaluable to guide our fieldwork. The central core zone will be the priority focus followed by the northern and southern zones, where previous key mineralized structures were identified in 2019, but not yet sampled. Aggressive mapping, rock and soil sampling and trenching planned over the coming weeks will help us evaluate this extensive gold system and prepare for drilling. Outcrops uncovered from recent property-wide logging, and associated road access development, is aiding our ability to quickly assess the potential of this exciting gold project."
NV Gold has commenced its aggressive 2020 exploration program at its newly optioned high-grade Exodus Gold Project, with the aim of identifying multiple high-grade targets to be tested by a focused diamond drill program in October of this year. Field programs operating this summer and fall will include mapping, rock and soil sampling, trenching, and structural modelling to help finalize drill targeting, as well as the collection of environmental data necessary for drill permitting. Ongoing results of the field programs are anticipated for timely release as the Company continues to advance the Exodus Gold Project.
COVID-19 Response:
During the COVID-19 pandemic, NV Gold is committed to advancing exploration in a socially responsible manner, respecting good health and safety guidelines to protect its own employees, consultants and contractors, as well as the citizens of the communities in which it is working. NV Gold would like to thank all of its stakeholders for their patience and support.
About the Exodus Gold Project:
Please refer to the press release dated July 6, 2020, which highlights detailed information on the high-grade Exodus Gold Project, and the terms of NV Gold's option to acquire up to an 85% interest in the project. The link to the property page on the Company's website is located at www.nvgoldcorp.com/properties/british-columbia/exodus-gold-project/, and also includes detail on the Option Agreement Terms. Please visit the Company's Media section for the most recent interviews with NV Gold's CEO at the following link: www.nvgoldcorp.com/investors/media/.
The scientific and technical information contained in this news release as it relates to the Exodus Gold Project has been reviewed and approved by Max Keogh, P.Geo, Exodus Gold Project Manager and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
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 two to three 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
All statements other than statements of historical fact included in this release, including, without limitation, the details and timing for completion of exploration or development of the Project, that the geophysical surveys have identified new structures, 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
