NV Gold Corporation
TSX VENTURE : NVX

May 11, 2011 09:00 ET

NV Gold Completes Second Tranche of Unit Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

NV Gold Corporation (TSX VENTURE:NVX) (the "Company") is pleased to announce that it has completed the second and final tranche of its non-brokered private placement (the "Private Placement") of Units originally announced on February 11, 2011. The second tranche consisted of 3,333,334 units (the "Units") at CDN$0.30 per Unit, for gross proceeds of CDN$1,000,000. Each Unit consists of one common share of the Company and one-half of one non-transferable common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at CDN$0.40 until November 9, 2012.

The securities issued under the second tranche of the Private Placement are subject to a four-month hold period expiring on September 10, 2011.

On behalf of the Board of Directors,
(sgd.) "John E. Watson"
President and CEO

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.

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