Vancouver, British Columbia – May 17, 2011 – Van Hoof Industrial Holdings Ltd. of Tortola, British Virgin Islands announces that on May 16th, 2011, it acquired ownership of, and control and direction over, 700,000 common shares of NSGold Corporation (NSX : TSXV) at a price of C$0.50 per share, for total consideration of C$350,000, upon the exercise by Van Hoof Industrial Holdings Ltd. of 700,000 common share purchase warrants.
The 700,000 common shares acquired by Van Hoof Industrial Holdings Ltd. represent 2.14% of the 32,712,277 common shares of NSGold Corporation now issued and outstanding.
Following the exercise of the warrants, Van Hoof Industrial Holdings Ltd. owns and controls 10,833,100 common shares of NSGold Corporation, representing 33.12% of the 32,712,277 issued and outstanding common shares of NSGold, and does not own or control any common share purchase warrants of NSGold Corporation.
Van Hoof Industrial Holdings Ltd. is a private company controlled by Johannes H.C. van Hoof, Chairman and a director of NSGold Corporation.
Van Hoof Industrial Holdings Ltd. acquired the shares of NSGold Corporation described herein for investment purposes, and may from time to time acquire ownership of, or control or direction over, additional securities of NSGold Corporation for investment purposes.
The 700,000 shares were issued by NSGold Corporation pursuant to the prospectus exemption set out in section 2.42 of National Instrument 45-106 Prospectus and Registration Exemptions.
For further information, please contact either:
Johannes H. C. van Hoof
Chairman, Van Hoof Industrial Holdings Ltd.
P.O. Box 146
Road Town, Tortola
British Virgin Islands
Chief Financial Officer, NSGold Corporation
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