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