VANCOUVER, BC / ACCESS Newswire / August 21, 2025 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to provide an update on new drill results from its 100%-owned Slumber Gold Project ("Slumber"), located 80 kilometers (50 miles) west-northwest of Winnemucca and 37 kilometers (23 miles) west of the Sleeper gold deposit in Humboldt County (see Figure 1). The June 2025 reverse circulation drilling campaign completed 5 five drillholes, totaling 964.7 meters (3165 feet). The drill holes were completed to test surface mercury vapor anomalies away from previously known gold hosting zones.
The 2025 drilling campaign successfully tested mercury vapor anomalies and identified an extension of the known oxide gold mineralization at least 1.5 kilometers north of the previously reverse circulation defined gold zones, as reported in the News Release of March 21, 2023.
Results indicate that Slumber reverse circulation drill holes SL-30, SL-31 and SL-32 returned significant gold values as highlighted below. Table 1 contains all gold intercepts.
SL-30 from 192.02 m (630') to 195.06 m (645') at 1.092 gpt Au
SL-31 from 150.9 m (495') to 158.5 m (520') at 0.489 gpt Au
SL-31 from 163.1 m (535') to 166.1 m (545') at 0.619 gpt Au
SL-31 from 181.36 m (590') to 190.5 m (625') at 0.490 gpt Au
SL-32 from 160.0 m (520') to 161.5 m (530') at 0.673 gpt Au
John Watson, NV Gold's CEO commented - "The Slumber Project continues to expand with our work in 2025. Hole SL 30 was drilled 1.7 km north of our previous drilling and hole SL 31 was completed 0.33 km north. Both holes returned highly encouraging intercepts of gold mineralization and both bottomed in grade. The 2025 Program results suggest that the oxide gold system is much larger than previously established, with potential to be a major discovery."
Figure 1: Location of Slumber project and nearby active and inactive mining operations.
Slumber Project Highlights:
The Slumber property comprises 85 lode mining claims, is strategically located near active gold mining operations.
The project is volcanic-hosted epithermal gold mineralization found in a structural corridor along the southern Jackson Mountains.
Three previous drill campaigns have been conducted by NVX since 2019. 29 RC holes (reverse circulation) were completed, totaling 5,200.9 m (17,063.3 ft).
Geophysical surveys, including the CSAMT survey conducted in 2019 and an induced polarization (IP) survey in 2022, have identified a continuous north-south to north-northeast-trending resistivity zone correlated with gold mineralization. The resistivity anomaly indicates hydrothermally brecciated, highly silicified volcanics with broad thicknesses returning gold values (see Figure 3).
On November 1st, 2022, NV Gold announced the identification of five new mercury vapor targets at the Slumber Gold Project at Humboldt County, Nevada. Three of these anomalies were successfully tested by the current program.
On March 21st, 2023, NV Gold announced the results of an "Exploration Target" analysis. An ‘Exploration Target provides a potential range of tons and grades and is conceptual in nature, the probability of confirmation is not known. News Release of March 21, 2023.
Preliminary widely spaced AuCN tests conducted in 2022 "potentially high" gold recovery. See discussion in the News Release of May 2022.
Thomas Klein, NVX Consultant stated, "The Slumber Gold Project is one of the most exciting projects I have had the pleasure of working on since my time in Nevada. The gold zone is extensive and the 2025 stepouts, up to 1.75 km, exhibit the same mineralization style with increasing gold grades suggesting higher-grade gold mineralization at depth, with potential high-grade feeders yet to be discovered. Slumber is in the early stage of discovery, and I am very optimistic that the Slumber gold system will grow significantly. I am confident that further drilling could lead to the next major oxide gold discovery in Nevada."
2025 Drill hole collars in green diamonds. Previous drill hole collars in yellow dots.
Mercury (Hg) vapor surface anomaly areas indicated by letter.
Figure 2
New 2025 drill results indicate potential gold extension 1.5+ kilometers further north of the modeled Exploration Target zone and good correlation with mercury vapor anomalies
Drill Intercepts:
Table 1 - Slumber 2019-2025 significant drill intercepts. True widths are not known. However, based on the current understanding of mineralized zones, true widths are between 70%-100% of the total length and grades are uncut.
Figure 3
From the gold 192.02 m (630 ft) to 195.06 m (645 ft) intercept in hole SL-30 and is hosted in Trx a lithic tuff.
Jesse Wellman, C.P.G, QP for the Slumber project stated, "Thanks to the NV Gold Corp.'s 2025 drilling program the Slumber Gold Project now has gold intercepts in drilling covering nearly 2.5 km from north to south, and 0.5 km east to west with most directions remaining open. The pyroclastic/volcaniclastic hosted epithermal system appears to be well altered, mineralized, and oxidized. Bleaching/leaching and silicification are the most common alteration types, with local argillic, and quartz rich zones. Iron oxides after pyrite, with occasional relict textures, are widespread. Additional work is needed to fully understand the structural and host rock controls. From what is known currently the geology appears permissive to expand significantly the extent of contained oxide gold."
Qualified Person Disclosure
The technical disclosure in this news release has been reviewed and approved by Jesse D. Wellman, C.P.G, a Certified Professional Geologist of the American Institute of Professional Geologists and is the Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. Jesse is an Independent Consulting Geologist and holds no interest in NV Gold Corp.
Analytical Laboratory and QA/QC Procedures
The company used an MPD-1500 reverse circulation drill of New Frontier Drilling, Fallon Nevada. All 2025 Slumber drilling was ‘reverse circulation' type, returning rock samples that range in size from <1mm up to 2 cm, with the majority between 1 and 5 mm in longest dimension. Samples were collected from the cyclone underflow as a separate split from circulation returns onsite and submitted to the ALS Chemex laboratory in Elko Nevada and in Twin Falls Idaho. Samples submitted ranged in weight from 0.6 kilograms to 21.23 kilograms with an average weight of 6.3 kilograms. Samples were taken at 1.52 m (5 ft) intervals in all holes. All samples were submitted for analyses, except for the first 33m (100 ft) of hole SL-30, and for hole SL-34 where samples were selected for analysis approximately every 15.2 m (50 ft). Chip samples were collected in trays from all intervals, photographed, and retained by the company.
The quality assurance-quality control (QA-QC) program of NV Gold Corp. includes the insertion of certified standards of known gold content, blank and duplicate samples. After crushing and pulverizing samples of 30 grams are tested by the FA ICP-AES finish, ALS code Au-ICP21 method.
Additional Housekeeping
The Private Placement financing announced on May 22, 2025, has been cancelled after closing a first tranche of $349,800.00 announced on July 3, 2025 and, the subsequent issuance of 3,498,000 units. Each unit consisted of one common share and one two-year Common Share purchase warrant exercisable at $0.20.
About NV Gold Corporation
NV Gold Corporation is a well-organized exploration company with ~89 million shares issued and no debt. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-owned lode mining claims totaling 53.4 square kilometers (20.6 square miles) The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the effective date of the Consolidation; the number of Shares outstanding following the Consolidation; and the treatment of fractional shares in the Consolidation.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, the number of post-Consolidation Shares being different from the number set out herein and the treatment of fractional Shares in the Consolidation being different from what is set out herein, and that the Company will complete the Consolidation on the anticipated effective date.
Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will be unable to complete the Consolidation on the expected effective date; that the treatment of fractional shares will differ for the treatment set out herein; and that the number of issued and outstanding shares following the Consolidation will differ for the number statement herein. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: NV Gold Corporation
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