NSGold Corporation intercepts 27 grams per tonne Gold over 2 meters at its Mooseland Gold Project

Press Release
For immediate distribution

Vancouver, British Columbia – February 11, 2011 – NSGold Corporation (NSX : TSXV) announced today that it has received assays on holes 8, 9 and 10 of a total of twenty six holes that comprise the recently completed Phase 1 drilling  campaign at its Mooseland Gold Project in Halifax County, Nova Scotia.

The most significant intercept in terms of grade and tonnage (width) occurred in hole NSG-10-10 at 27.15 grams per tonne (31.1035 g = 1.0 Troy ounce) over a width of 2.0 meters from 170.9 to 172.9 meters depth. This includes a zone reporting an assay of 66 g/T over 0.5 meters from 170.9 meters to 171.4 meters and intercepts showing favorable quartz structures with both anomalous and higher grade intercepts.

For holes NSG–8–10 through NSG-10-10 a total of 36 samples assayed more than 1 gram per tonne of gold (see attached table) of which 5 assays exceed 10 grams per tonne. Drill results continue to yield high grade intercepts indicative of the influence of the nugget effect on the gold values illustrated by the intercepts below.

Mooseland gold values 20110211

Drilling and assay results indicate significant intercepts of quartz structures and sulfides that assayed between 0.1 and 1.0 grams per tonne. While not all these intercepts assay at ore grade values, anomalous gold occurs throughout many and are indicative of potential gold presence elsewhere in the vein. Some of these anomalous zones accompany structures where higher gold values are reported, increasing the potential for greater mining widths.

Three holes remain to be assayed on the West Zone structure at Mooseland.

Mooseland East Zone Results

Partial results from many of the thirteen holes drilled on the East Zone at Mooseland have been received and NSGold Corporation looks forward to releasing this information when it is complete.

Leipsigate Update

Results from sampling on three diamond drill holes on NSGold’s Leipsigate property south of Bridgewater, Nova Scotia are pending.

Qualified Person

Perry MacKinnon, P.Geo., Chief Geologist for NSGold, a qualified person as defined by National Instrument 43-101, has reviewed and approved the information provided in this news release.

About NSGold

NSGold Corporation is a mineral exploration company actively exploring for gold in Nova Scotia, Canada. NSGold’s flagship property is the Mooseland Gold Project. NSGold’s shares are listed on the TSX Venture Exchange under the symbol NSX.

For further information, please contact:

Glenn A. Holmes
Chief Financial Officer, NSGold Corporation
(902) 483-2308

Neither 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 release.

Mooseland Drill Intercepts Greater than 1g. per Tonne