Nevada Pacific Gold Ltd.

Nevada Pacific Gold Ltd.

August 29, 2005 09:15 ET

Placer Dome U.S. Prepares to Drill Nevada Pacific BMX Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 29, 2005) - Nevada Pacific Gold Ltd. (TSX VENTURE:NPG) is pleased to announce that Placer Dome U.S. Inc., (Placer Dome) a subsidiary of Placer Dome Inc., has submitted a Notice of Intent permit with the U.S. Bureau of Land Management to construct eleven drill sites on the Long Peak portion of Nevada Pacific Gold's BMX property which is included in the BMX joint venture. Pending approval of the application Placer Dome intends to begin drilling in early September. The BMX project covers approximately 24 square miles located on the Battle Mountain Range at the northern end of the Battle Mountain/Eureka trend of gold deposits.

Placer Dome entered into a joint venture agreement with Nevada Pacific in November of 2002. Under the terms of the agreement Placer Dome has the right to earn a 60% interest in the BMX project by spending US$4.0 million on exploration on the project over a five-year period. Placer Dome can earn an additional 10% interest (70% total) by carrying Nevada Pacific through a feasibility study. In February 2005 Placer Dome acquired an earn-in right on the Long Peak property that has been included in the joint venture agreement governing the BMX property.

The Long Peak property is located on the southern edge of the BMX land package adjacent to the historic Bluebird mine. The property consists of 34 unpatented mining claims covering 640 acres. The Bluebird and Long Peak project areas host a set of gold-base metal veins/shears. Both open pit and underground potential exists in the project area with several gold targets similar to nearby mines such as Surprise and/or Trenton Canyon.

Historical drilling in the Bluebird/Long Peak area resulted in the northern most drill hole (DEW98-07) containing 10' of 0.135 opt gold from 25' to 35' and the southern most drill hole (DDH-1), located 5,000 feet south of DEW98-07, containing 3.5' of 0.767 opt gold, 32.5 opt silver, 0.83% Pb and 0.55% Zn from 910' to 913.5'. Three other holes also reported significant mineralization as follows: 50 feet of 0.147 opt gold; 50 feet of 0.058 opt gold; and 10 feet of 0.057 opt gold and 3.35 opt silver.

Mr. Curt Everson, P. Geo., M.Sc., is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by the Company in Nevada.

Nevada Pacific Gold Ltd. was founded in March 1997. The Company owns the Magistral Gold Mine in Mexico and an exploration property portfolio covering approximately 75 square miles of mineral rights including portions of two significant gold producing belts in the State of Nevada. The Company's BMX, Keystone and Limousine Butte projects are under joint venture agreement to Placer Dome U.S. A description of these projects, including maps and photographs can be viewed on the Company's website at


David Hottman, Chairman

Cautionary Statement on Forward-Looking Information

Certain information set forth in this report contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties including: the results of current operation and exploration activities; market reaction to future operation and exploration activities; significant changes in metal prices; currency fluctuations; increases in production costs; differences in ore grades; recovery rates; and tonnes mined from those expected; changes in mining, or heap leaching rates from currently planned rates; the timing and content of work programs; geological interpretations; receipt and security of mineral property titles; general market and industry conditions; and other factors detailed in the Company's public filings.

Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise an, as such, undue reliance should not be placed on forward-looking statements. The Company's actual results, programs and financial position could differ materially from those expressed in or implied by these forward-looking statements, and accordingly, no assurance can be given that the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of accuracy of this release.

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