NV Gold Completes First Tranche of Unit Financing

NV Gold Corporation (TSX VENTURE:NVX) (the "Company") is pleased to announce
that it has completed the first tranche of its non-brokered private placement
(the "Private Placement") of Units originally announced on February 11, 2011.
The Company has completed the sale of 2,264,000 units (the "Units") at CDN$0.30
per Unit, for gross proceeds of CDN$679,200. The Company has also received a
subscription for a further 3,333,334 Units from one subscriber, the completion
of which remains subject to final acceptance of the TSX Venture Exchange. 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 for a
period of eighteen months. The Company received greater interest in the Private
Placement than was initially anticipated and, subject to completion of the sale
of the Units to the final subscriber, the Private Placement will involve the
sale of 597,334 more Units being issued than originally announced.


The securities issued under the first tranche of the Private Placement are
subject to a four-month hold period expiring on July 4, 2011.


The Company has agreed to pay a finder's fee of $3,000 in connection with
certain subscriptions under the Private Placement.


The Company filed its material change report in respect of this financing less
than 21 days before the closing of the Private Placement because the details of
the Private Placement and the participation therein by two directors of the
Company were not settled until shortly prior to closing, and the Company wished
to close the Private Placement on an expedited basis for sound business reasons.


On behalf of the Board of Directors,

John E. Watson, President and CEO

NV Gold (TSXV:NVX)
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