NSGold reports a gold resource of 390,000 ounces at the Mooseland Gold Project

Vancouver, British Columbia – June 15, 2011- NSGold Corporation (TSXV:NSX) is pleased to report that it has received an updated resource report on the East Zone of its wholly owned Mooseland Project in Halifax County Nova Scotia. Total inferred gold resources for Mooseland are now estimated at 390,000 ounces of gold which is an increase of 28% over earlier reported estimates. This resource report was prepared by MineTech International Inc. of Halifax, Nova Scotia. A summary of the updated resource estimation is provided in the table below. Mooseland Summary of Non-Diluted Inferred Mineral Resources (see Appendix A for Notes)

Mooseland summary of the updated resource estimation

This estimate is based on drill core assay results from historic and recent drilling programs totaling 40,371 meters in 167 drill holes as detailed below.

Estimate is based on drill core assay results from historic and recent drilling programs

The NSGold 2010 program which consisted of 6,507 meters in 26 diamond drill holes was designed with the objective of confirming the historic data and building confidence in the ore body model. This objective has been met. This program was an infill drilling program, confined within the parameters of known ore zones defined by earlier programs and did not extend any results beyond its known historic limits.

Mooseland East Zone Results

The results of MineTech’s analysis for the East Zone are tabulated below:

MineTech’s analysis for the East Zone

NSGold planned to drill 16 holes on the East Zone last year, however, weather and flooding made it necessary to reschedule two of the planned holes to a later date, re-position and realign two of the others to attempt to achieve intended targets and to abandon one hole at one third of its intended depth. As a result, not all of the intended drilling on the East Zone was completed and areas of the identified mineral resource were not intersected as planned.

At a cut-off grade of 3 g/tonne and a minimum 1.5 meter width, East Zone inferred mineral resources totaled 1.1 million tonnes with an average gold grade of 5.1 g/tonne, for a total of 180,000 ounces. In this analysis assays greater than 20 g/tonne were reported as a value of 20 g/tonne. This practice is known as “top cutting” and minimizes the impact of the “nugget effect” prevalent in this type of ore. Previous estimates did not account for the nugget effect and reported values as assayed.

Through diamond drilling, forty (40) mineralized zones, many consisting of multiple veins, have been identified in the East Zone of the Mooseland gold deposit. The nested, mainly stratiform veins are steeply dipping over a tightly-folded and slightly overturned anticline, the axis of which is oriented approximately 25 degrees with an undetermined plunge. The veins are narrow – most are tens of centimeters wide while some parts of some veins are up to several meters wide – especially near the fold’s apex or “saddle.”

Using a cut-off grade of approximately 1 g/tonne for mineralized zone interpretation, forty mineralized veins were identified. Using inverse distance weighting to calculate block grades, it was determined that eighteen of the veins contained blocks that exceeded the 3 g/tonne block cutoff grade that was used to identify mineral resources.

The East Zone currently has an identified strike length in excess of 300 meters and is “open” at depth and toward the east. It is interpreted to be the down faulted extension of the West Zone and if this interpretation is accurate, the West Zone vein systems may be located at depth. Faults define both the eastern and western extents of the zone. Geophysics and geologic mapping indicate that the anticline that defines eastern extension of the zone, may offset and continue with a possible target zone continuing towards the east.

Mooseland West Zone Results

The results for the West Zone were presented in a News Release dated May 3rd, 2011.

NI 43-101 Report

A technical report detailing the updated gold resource estimate for the Mooseland Project will be filed on SEDAR within the next 45 days.

Future Work at Mooseland

Immediate plans for the Mooseland deposit are to continue drilling to further delineate and expand the mineralized zones with the objective of converting the inferred resource to measured and indicated. Engineering and environmental work will focus on the re-opening of the West Zone decline to provide access for underground drilling and bulk sampling once detailed analysis of the new resource estimate, geological information and engineering data on the West Zone has been completed.

Budgets and schedules are currently being developed for the project and drilling is expected to resume in the third quarter 2011.

Qualified Person

Doug Roy, M. A. Sc., P. Eng. is the Qualified Person who carried out this resource estimate. Mr. Roy is a mining engineer with MineTech International Limited of Halifax, Nova Scotia who has carried out mineral resource estimates for numerous gold deposits.

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

About NSGold

NSGold Corporation is a mineral exploration company actively exploring for gold in Nova Scotia, Canada and silver in Mexico. NSGold’s principal properties are the Mooseland Gold Property, located in Nova Scotia, and the Dios Padre Property located in the Municipality of Yecora, State of Sonora, Mexico, including the historic Dios Padre Silver Mine located approximately 260 km east of Hermosillo. 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.

Appendix A
Notes for Mooseland Resource Estimate

1. Cut-off grade for mineralised zone interpretation was 1 g/tonne.
2. Block cut-off grade for defining Mineral Resources was 3 g/tonne.
3. A top-cut grade of 20 g/tonne on composited samples, diluted to the minimum mining width was used. The top-cut was chosen based on statistical interpretation.
4. Gold price was $US 1200 per troy ounce.
5. Zones extended up to 25 metres down-dip from last intercept. Along strike, zones extended halfway to the next cross-section.
6. Minimum width was 1.5 metres. Narrower intercepts were diluted at zero grade.
7. Planned dilution, to the minimum width, was included. Non-planned dilution was not included.
8. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
9. Resource estimate prepared by Doug Roy, M.A.Sc., P.Eng.
10. A specific gravity (bulk density) value of 2.65 was applied to all blocks (a typical value for the rock types under consideration).
11. Inverse distance (“ID”) weighting, using a “power” of 0.25 was used for estimating block grades.
12. Inferred resources were identified where sample intercept spacing was approximately 25 metres (based on the author’s judgement).
13. No Measured or Indicated Mineral Resources or Mineral Reserves of any category were identified.