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Published on 3/4/2011 in the Prospect News PIPE Daily.

NV Gold wraps C$679,200 of C$1.68 million private placement of units

Non-brokered offering finances work on company's mining properties

By Devika Patel

Knoxville, Tenn., March 4 - NV Gold Corp. said it concluded the first tranche of a non-brokered private placement of units. The company also said it has received interest from a subscriber for a further 3,333,334 units. As a result, the placement will now offer 597,334 more units than originally planned and has been increased by C$179,200 to C$1.68 million.

The deal priced for between C$1.2 million and C$1.5 million, and the company raised C$679,200 in the initial tranche.

The company is now selling 5,597,334 units of one common share and a half-share warrant at C$0.30 per unit. It sold 2,264,000 units in the first tranche.

Each whole warrant is exercisable at C$0.40 for 18 months. The strike price reflects a 42.86% premium to the closing share price of C$0.28 on Feb. 10.

Proceeds will be used for work on the company's properties and general corporate purposes.

The Vancouver, B.C., mining company explores for gold and copper.

Issuer:NV Gold Corp.
Issue:Units of one common share and a half-share warrant
Amount:C$1,679,200
Units:5,597,334 (2,264,000 in the first tranche)
Price:C$0.30
Warrants:One half-share warrant per unit
Warrant expiration:18 months
Warrant strike price:C$0.40
Agent:Non-brokered
Pricing date:Feb. 11
Settlement date:March 4 (for C$679,200)
Stock symbol:TSX Venture: NVX
Stock price:C$0.28 at close Feb. 10
Market capitalization:C$5.55 million

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