NSGold begins drilling on its Mooseland Gold Property and Initiates Remote Sensing Program

Vancouver, British Columbia – August 15, 2011 – NSGold Corporation (NSX:TSXV) has unveiled an expansive second phase of drilling exploration planned for 5,000 meters at its wholly owned Mooseland gold property, located in Halifax County, Nova Scotia.

This second phase of drilling by NSGold will test under-explored areas in the historic drilling zones as well as complete several holes planned for last year’s program that were not possible due to adverse weather conditions at the time. Several of the holes will be testing promising areas of the structure that have been sparsely drilled or unexplored in the past.

The objective of this program is to add to the 390,000 troy ounce inferred gold resource announced in June (see Press Release dated June 15, 2011) by testing known gold bearing areas in the historic drilling zones as well as completing several drill holes in promising areas of the structure which has seen only limited work in the past. Seven holes totaling 2,000 meters are planned for the East Zone and eight holes totaling 3,000 meters are planned for the West Zone.

Most of this drilling will take place outside the boundaries of the two hundred meters of strike length drilled last year on each of the East and West zones.

The June 2011 43-101 compliant resource estimation was based on the results from one hundred and forty-one historic drill holes and twenty-six holes drilled by NSGold in last year’s program.

As an additional aspect of the 2011 Mooseland program NSGold has contracted Leading Edge Geomatics (LEG) of Fredericton, New Brunswick to fly a LiDAR survey over all claims held by NSGold at its Mooseland Project. This technology has been proven to assist with delineating the structure and stratigraphy of other similar deposits in the region in particular the Meguma formation. LiDAR surveys use laser pulse technology to provide an optical remote sensing technique that can identify subtle surface features not readily seen by other remote sensing methods. This is a significant step in exploring the Mooseland anticline and related structures away from the main deposit, in particular the structurally complex region extending north and east immediately adjacent to the East Zone.

NSGold will also be flying LiDAR surveys at its Cheticamp, Indian Path, Ecum Secum and Moosehead properties covering a total area of one hundred and twenty four square kilometres.

NSGold expects that LiDAR information will enable its technical staff to better interpret the structure of the rock formations on these properties and prove to be a useful tool in targeting known and prospective potential ore zones on the properties. The LiDAR surveys are also expected to be a very useful tool in the planning and implementation of ground geophysical surveys and diamond drill programs on those targets.

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 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. 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) 798-1148

Forward-Looking Statements

This news release contains statements that may constitute “forward-looking information” or “forwardlooking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of NSGold Corporation (“NSGold”), or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that NSGold or its shareholders will derive. Forward-looking statements and information are based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond NSGold’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risks and Uncertainties” in NSGold’s Management Discussion and Analysis for the Year ended December 31, 2010, which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. NSGold does not intend, nor does NSGold undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

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.