NV Gold Corporation
TSX VENTURE : NVX

NV Gold Corporation

February 01, 2016 08:30 ET

NV Gold Completes Sale of Afgan-Kobeh Property for US$450,000

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 1, 2016) - NV Gold Corporation (TSX VENTURE:NVX) (the "Company") announced today that its wholly-owned Nevada subsidiary, NV Gold Corporation (USA), has completed the sale of the Afgan-Kobeh Property located in Eureka County, Nevada, (the "Afgan Property") to McEwen Mining Inc. for US$450,000. The transaction was originally announced on December 21, 2015 and over 99.9% of the votes cast on the special resolution to approve the transaction were voted in favour at the recent shareholders meeting of the Company.

John Watson, the President and CEO of the Company, commented: "The Company intends to use the sale proceeds to substantially pay down its debts as well as pursuing other corporate objectives, including pursuing other business opportunities."

The Company continues to own its Surselva property, in Graubunden, Switzerland.

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.

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 financial position of the Company 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.

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