Five New Mercury Vapor Targets Identified At The Slumber Gold Project

VANCOUVER - NV Gold Corporation has identified five new mercury vapor anomalies, all outside the known mineralized gold zone, at its Slumber Gold Project in Humboldt County, Nevada. Three drill campaigns have been conducted between August 2019 and early 2022. 29 Reverse Circulation ("RC") holes have been completed, totaling 5,200.9 m (17,063.3 ft). The 2019-2022 exploration program encountered significant thicknesses of near-surface, low-grade-oxide gold distributed over an area of 800+ meters by 300+ meters with thicknesses of 100-150 meters. Notable drill intercepts, including 18.3 m @ 0.52 g/t Au in Hole SL-11, and SL-14, intersected 134.2m @ 0.14 g/t Au starting from the collar and was terminated in gold mineralization; most holes bottomed in gold mineralization.

Drilling confirmed that a zone of "Resistivity," reflecting hematite bearing and slightly silicified rocks, correlates well with alteration and gold mineralization. The resistivity zone continues to be open and remains untested to the north and northeast. The Company has now demonstrated that Slumber hosts a low-grade bulk-tonnage, oxide-gold system, which remains open in multiple directions. Drilling remains widely spaced over this large area, with reasonable expectations of locating structural and lithologically favorable zones of potentially higher grade mineralization. A recently conducted mercury vapor survey has identified five new zones (A-E) with potential for concealed gold mineralization under gravel cover.

Thomas Klein, VP Exploration, said, “I am excited to share the results of a recently completed mercury vapor survey at our Slumber Gold Project in Humboldt County, Nevada. The Company has detected five outstanding mercury vapor anomalies with values over 100 nanograms outside the zone of known gold mineralization . Knowing that mercury vapor can be the oxidation product of concealed gold mineralization at depth, the Company is planning to test some of the anomalies to prove the concept. I have evaluated this technique during my time as exploration geologists on the Carlin Trend, and I can confirm that this is a proven technique to uncover concealed gold systems."