NVX NV Gold Corporation

NV Gold Corporation (TSX VENTURE:NVX) (the "Company") announced today that it
has entered into an agreement to acquire an exploration permit for gold and
precious metals (the "Medel Permit") covering a total area of approximately 136
square kilometers in the Commune of Medel/Lucmagn in the Canton of Graubunden in
southeastern Switzerland. The property is located in the Alps in a sparsely
populated area. The community in which the property is located has been very
supportive of the Company's initiative and welcomes the potential economic
benefits that could be realized if the Company's exploration efforts are
successful.


The Medel Permit encompasses a large portion of the Gotthard Massif, made up of
pre-Variscan basement rocks of the Central Swiss Alps. Dr. Quinton Hennigh, a
director of the Company, stated: "Gold mineralization is associated with a unit
of quartz-sericite-pyrite schist occurring along an east-west-trending belt over
six kilometers long. Thicknesses of this schist horizon ranges from a few meters
to approximately 200 meters thick."


The area has been explored by previous owners. Records of drilling undertaken by
International Micham Resources Inc. in 1991 include intercepts of 75 meters
averaging 1.13 grams per tonne gold and 94 meters averaging 0.96 grams per tonne
gold in two holes drilled from the same pad. Recent spot outcrop and float
samples of this gold-bearing unit taken by the Company returned grades ranging
from 0.15-1.57 grams per tonne gold. The Company has plans to conduct much more
extensive sampling of this gold-bearing horizon over the next two months to
further evaluate its grade and continuity. Gold assays for the sample results
were completed by ALS Scandinavia AB in Pitea, Sweden using a 30 gram charge,
fire assay, with an ICP finish. The drilling results have not been verified at
this time since the Company has not had access to the drill core and QA/QC
procedures are unknown. Accordingly, the Company cautions that they may not be
reliable. The Company expects to be able to access the drill core and it will
undertake verification procedures after it secures access.


The Company has agreed to acquire the Medel Property for 250,000 units (the
"Units") of the Company. Each Unit will consist of one common share of the
Company and one-half of one common share purchase warrant. Each whole warrant
will entitle the holder to purchase one additional common share of the Company
at $1.00 for a period of three years. The expiry of the warrants will be subject
to acceleration such that, should the volume weighted average price of the
common shares in the capital of NV Gold exceed CDN $2.00 for twenty consecutive
trading days, NV Gold may notify the holder that the Warrants will expire 30
trading days from receipt of such notice unless exercised before such date.


The Company has also agreed to appoint Mr. Paul N. Zyla, the vendor of the Medel
Permit, to its Board of Directors on completion of the acquisition of the Medel
Permit. Mr. Zyla, B.Sc., University of Toronto, serves as President, Chief
Executive Officer and Director of Xtra-Gold Resources Corp. (Symbol XTG-T) Mr.
Zyla has more than 25 years' experience as CEO and/or President of
resource-based public companies.


Completion of the acquisition of the Medel Permit is subject to approval of the
transfer of the Medel Permit to the Company, confirmation of an extension of the
expiry date of the Medel Permit and the grant of rights to renew the permit at
the end of its term for two additional five year periods by the relevant
authority in the Commune of Medel/Lucmagn. Completion of the acquisition of the
property is also subject to approval of the TSX Venture Exchange.


The Company has agreed to pay a finder's fee of 35,000 common shares in respect
of the acquisition of the Medel Permit and to acquire information and data in
respect of the area of the Medel Permit for SFR 40,000 (40,000 Swiss Francs) and
265,000 common shares of the Company.


The exploration information in this news release was prepared by Dr. Quinton
Hennigh, P. Geo., a director of the Company and a Qualified Person under
National Instrument 43-101.


On behalf of the Board of Directors,

John E. Watson, President and CEO

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

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 acquisition of
the permits, the geological potential of the properties 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.

NV Gold (TSXV:NVX)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

NV Gold (TSXV:NVX)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024