NV Gold Corporation to provide an update on its 2022 exploration activity. The SW Pipe Gold Project is in Lander County approximately 6 km southwest of the world-class Pipeline gold mine in the central Cortez gold belt of north-central Nevada. The Property, comprising 84 unpatented mining claims, is 100%-owned by NV Gold.

Historical drilling established a near-surface, oxide-gold zone characterized by multiple intercepts of 15 m+ @ 0.5-1.0 g/t Au. The Company has recently conducted an extensive soils sampling program and completed a mercury vapor survey on the Property. The target has disseminated high-grade Carlin-type gold mineralization.

Results: Modeling of 567 new soils samples shows a large and comprehensive zone of overlapping Carlin-type geochemical anomalies highlighting a new target area in a previously untested central-western portion of the Property. The New Target is an interpreted Dilational zone, a perfect fluid pathway for gold mineralization, and therefore a prime target location to discover the next multi-million-ounce gold deposit. Next Steps: Waiting for completion of mercury vapor analyses and planning to drill-test established soil target(s).

The Triple T Gold Project is located in the Humboldt Range 9 kilometers east of the Rochester silver-gold operation and 42 kilometers southeast of the Florida Canyon gold mine. The Property, comprising 41 unpatented mining claims, is 100%-owned by NV Gold. The Company has recently received the approval of the Triple T "Notice of Intent" for 10 additional reverse circulation holes and commencement of drilling is projected for First Quarter 2023.

Results (historical): Three principal zones of gold mineralization have been identified by earlier exploration and drilling campaigns in 2007 and 2009. Triple T gives the Company the opportunity to delineate additional near-surface, oxide-gold ounces by evaluating and following up on gold grades up to 11.7 g/t Au from rock chip sampling and open drill intercepts of 32 meters @ 0.73 g/t Au (Evolving Gold in 2007) and 16.8 meters @ 1.345 g/t Au Next Steps: Preparation of new drill sites and commence drilling in First Quarter 2023. The Slumber Gold Project is located approximately 80.5 kilometers (50 miles) northwest of Winnemucca, and 36 kilometers (22.4 miles) west of the Sleeper Gold Deposit in Humboldt County, Nevada.

The Property, comprising of 82 unpatented mining claims, is 100%-owned by NV Gold. The Company has conducted a Phase 3 drilling campaign and completed 12 RC holes totaling 2,350 meters (7,710 feet) by the end of First Quarter 2022. The target is an untested, wide-open zone of resistivity in the northern extent of the property.

Results: Q4/Q1-2021/22 RC drill program encountered a new zone of alteration and gold mineralization which has not been drill-evaluated in the past. The mineralized zone seems to correlate well with an overlapping resistivity-chargeability anomaly identified by the 2021 IP survey. The zone of silicified, oxide-gold mineralization is now distributed over an area more than 800 meters long by 350+ meters wide with remarkable thicknesses of 100-150 meters or more of mineralized material.

The Company reported that Slumber has now been proven to host a low-grade bulk-tonnage, oxide-gold system, which remains open in multiple directions. A recently conducted mercury vapor survey has identified five new zones (A-E) with potential for concealed gold mineralization under gravel cover. Next Steps: The Company will follow up on increasing gold grades of 1.5 g/t intercepted in one of last RC holes (SL-27) and drill-evaluate some of the higher mercury vapor anomalies in the northern and northeastern extent of the Property.

The Sandy Gold Project ("Sandy") is located in the Walker Lane, Lyon County, approximately 22 kilometers (13.7 miles) southeast of the historical Comstock Lode Deposit. The Property, comprising 20 unpatented mining claims, is 100%-owned by NV Gold. The Company has conducted a Phase 2 drilling campaign and completed 4 RC holes totaling 487.7 meters (1,600 feet) by the end of Third Quarter 2022.

The target was an untested structure interpreted by the 2021 IP survey. Results: All four RC holes encountered a new zone of alteration and gold mineralization and confirmed the predicted IP target, which has not been drill-evaluated in the past. The mineralized zone seems to correlate well with an overlapping resistivity-chargeability anomaly which widens and stays open to the northeast.

Gold Intercepts 2022: SD-18: 39.62m @ 0.128 g/t Au from30.48m, SD-19: 36.58m @ 0.293 g/t Au from 30.48m(incl. 6.1m @ 0.89 g/t at 30.48m), SD-20: 60.96m @ 0.071 from 60.96m, SD-21: 35.05m @ 0.171 g/t Au from 41.15m (incl. 6.10m @ 0.491 g/t Au at 44.20m), This new zone of gold mineralization is more of disseminated-type nature with potential to grow much larger.

(Note that some assays are still pending and expected to be received within the next 6-8 weeks). Next Steps: The IP survey conducted in 2021 was limited in budget and therefore incomplete. Based on the successful encounter of a new, open gold zone, the Company is intending to extend the IP survey in 2023.

Sandy's northeastern part of a square kilometer-sized, higher-level alteration exposure remains untested and will be further evaluated in 2023. Having most of Sandy's surface covered with gravel, a mercury vapor test will be used to test the remaining unknown potential. The Discovery Bay Project is located 14.5 kilometers (9 miles) southeast of the McCoy-Cove Gold Deposits in Lander County, Nevada.

The Company has expanded its position to 107 unpatented mining claims and has performed several geophysical and geochemical surveys since the land was acquired in June 2021. The target is McCoy-Cove-style/Carlin-type gold mineralization. Results: The conducted ground gravity and ground magnetic surveys identified a 6 kilometers (3.7 miles) long zone of a structurally controlled, north-south-oriented gravity high, which is interpreted to reflect Triassic McCoy-Cove host lithologies.

In addition, a 2021 IP survey has detected a zone of elevated chargeability suggesting that the anomaly in correlation with other interpreted structures could be sourced by hydrothermal activity on the property. A mercury vapor survey study in early-2022 has identified two more potential targets.