NV Gold Corporation Announces Intended Plans for its 2022-2023 Exploration Program and the Commencement of Drilling at its Sandy Project

NV Gold Corporation Announces Intended Plans for its 2022-2023 Exploration Program and the Commencement of Drilling at its Sandy Project

NV Gold Corporation (TSXV:NVX) (OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce its intended plans for the 2022-2023 exploration and drilling program for its six highest priority projects in Nevada. The Company has secured a drill rig and has initiated drilling at its Sandy Project

Additionally the Company is in the process of completing a detailed strategic analysis and field investigation of the 31 targets identified by Goldspot Discoveries Corp's ("Goldspot") review of NV Gold's Data Library using its proprietary AI technology (see press release dated August 11, 2022 on the Company's website at www.nvgoldcorp.com). This review is intended to identify longer term prospective projects to continuously add to NV Gold's project pipeline. NV Gold holds one of the largest, most prolific land packages in Nevada, arguably the best gold mining jurisdiction in the World.

Highlights of the exploration programs by project are as follows:

Sandy:

  • 2-4 Reverse Circulation holes for a total of ~600 meters
  • Test significant IP anomaly on strike with successful drill hole intercepts
  • Start Date: Early September 2022

Triple T:

  • 10 Reverse Circulation holes for a total of ~1,000 meters
  • Test for high-grade vein mineralization and disseminated oxides
  • Start Date: Early/Mid- October 2022

Pickhandle:

  • 3 Reverse Circulation holes for a total of ~350 meters
  • Test for sediment/carbonate mineralization
  • Start Date: Late October 2022

Spanish Canyon:

  • 3 Reverse Circulation holes for a total of ~350 meters
  • Test for sediment/carbonate mineralization
  • Start Date: Mid-November 2022

Discovery Bay:

  • 2 Reverse Circulation holes for a total of ~600 meters
  • Test Southern two targets (high chargeability and Hg anomalies)
  • Start Date: ~Q1 2023

Slumber:

  • 2 Diamond Core holes for a total of ~500 meters
  • 2 Reverse Circulation holes for a total of ~400 meters
  • Confirm Reverse Circulation bias (if any); test system depth and northern high-grade potential
  • Start Date: Q1 2023

Thomas Klein, VP Exploration commented, "I am excited about the exploration program we have in front of us. For the past two years, it has been challenging to engage drill rigs in Nevada with qualified teams. We are fortunate to have recently engaged Envirotech to commence our 2022-2023 exploration program. We have priority targets on several projects and expect significant field activity with respective news flow over the course of the next several months. I am optimistic that we could have several significant discoveries. Additionally, the targets identified by Goldspot provides a portfolio of high potential targets to add to our already large land package in Nevada."

John Seaberg, NV Gold's Chief Executive Officer added, "NV Gold is at a pivotal juncture in its evolution. We have amassed a significant portfolio of high priority gold properties in Nevada and are excited to test their potential, many of which have never been drilled before. We will be very active over the course of the next several months as we begin to unlock the hidden value of these properties.

NV Gold Corporation, Thursday, September 8, 2022, Press release picture

Diagram one- Project Landing Page

About NV Gold Corporation
NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on making significant gold discoveries in Nevada through well-planned and executed exploration activities. The Company aims to quickly evaluate and advance mineral opportunities to drill-ready stage utilizing its widely recognized and experienced technical team and its extensive historical data.

On behalf of the Board of Directors,

John Seaberg
Chief Executive Officer

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. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's identification of new target areas, the potential of these targets, the timing and extent of exploration activities and the anticipated outcome, 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, the extent to which other promising geological features predict mineral deposits 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 because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

SOURCE:NV Gold Corporation



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Freegold Ventures Limited (TSX: FVL) (OCTQX: FGOVF) ("Freegold" or the "Company") is pleased to report results from the final two holes of the 2023 drill program. The 2023 drill results will be incorporated into an updated mineral resource estimate ("MRE"), which is anticipated to be released later this quarter.

Freegold Ventures Limited (CNW Group/Freegold Ventures Limited)

The drilling conducted in 2023 successfully demonstrated the potential for immediate expansion towards the west, with potentially higher grades. It is important to note that the Golden Summit already has a significant gold resource. However, the potential for higher grades at shallower depths to the immediate west is substantial and could significantly alter the overall project economics. Therefore, we are confident that targeting shallower, higher-grade mineralization before undertaking economic studies will unlock even greater value in this project. Drilling is expected to commence shortly.

Hole GS2337 was drilled at an azimuth of 315 o to cross the Tolovana Vein swarm extensions to the southwest. The hole successfully intersected various zones of higher-grade mineralization.

HOLE
NUMBER

AZIMUTH

Dip

DEPTH

(M)

FROM

(M)

TO

(M)

INTERVAL
(M)

AU

G/T

GS2336

360

-55

831.3

15.9

31.1

15.2

0.52





166.1

218.5

52.4

0.59





257.7

677.3

419.6

0.86

including




308.2

327.7

19.5

4.26

including




308.2

311.2

3

25.3

including




483.1

504.7

21.6

1.09

including




521.8

558.4

36.6

2.86

including




521.8

524.9

3.1

28.8

including




655.9

677.3

21.4

0.75





708.7

726

17.3

0.86





758.2

772.4

14.2

1.43

GS2337

315

-50

784.3

260

704

444

0.85

including




341

354.7

13.7

1.21

including




367.8

443

75.2

1.31

including




367.8

369

1.2

20.2

including




506

517

11

2.27

including




552.1

575

22.9

0.94

including




668

704

36

2.01

including




668

671

3

13.45

The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization

The Tolovana vein swam lies within the three clear and immediate extensional geochemical trends identified: two south-southwest flanking trends and a clear east-west trend. The 2024 drill program will focus on exploring these identified trends.

2023 Drilling Demonstrated:

  • The potential to further expand the resource along strike to the west within a 1.5-kilometre-long gold-in-soil geochemical anomaly with the potential to increase the overall resource grade at shallower depths;
  • Defined boundaries of the existing resource and;
  • Demonstrated the potential for the Saddle Zone to host additional gold and silver mineralization.

Metallurgical work remains ongoing, and further metallurgical test work will be completed during the 2024 program to enhance the Golden Summit Project's overall economics.

A plan map showing the locations of the reported holes and the Section for GS2337 can be found here:

https://freegoldventures.com/site/assets/files/6287/gs2337-section.pdf

https://freegoldventures.com/site/assets/files/6287/gs-plan-04172024.pdf

A sample quality control/quality assurance program has been in place throughout the program. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analysis by ALS Laboratories. Core samples were prepared in ALS's facility using the PREP-31BY package. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen; a portion of this pulverized split is digested by Four Acid and analyzed via ICP-AES (method code ME-ICP61). Fire Assay analyzes all samples with an AAS finish, method code Au-AA23 (30g sample size) and over 10 g/t are automatically assayed using a FA Grav method, Au-GRAV21. Additional Au screening is performed using ALS's Au- SCR24 method; select samples are dry-screened to 100 microns. A duplicate 50g fire assay is conducted on the little fraction, and an assay is conducted on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Analytical and assay procedures are conducted in ALS's North Vancouver and Reno facilities.

A QA/QC program included laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

The Qualified Person for this release is Alvin Jackson , P.Geo. – Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited

Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2023 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

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