Mr. van Hoof commented, “As I have signaled in previous communications, NSGold is very much in ‘acquisition mode’. With the new management structure Glenn and I will be able to fully concentrate on this objective over the next couple of months”.

The Board of Directors also appointed Rob Randall as Chief Financial Officer of NSGold.  Mr. Randall was Corporate Controller of Endeavour Mining Corporation (previously Etruscan Resources Inc.) from 1997 to 2011.  He has extensive experience with public company reporting and financial operations within the exploration and mining business, and is a member of the Institute of Chartered Accountants of Nova Scotia. The appointment of Mr. Randall as Chief Financial Officer of NSGold is subject to regulatory approval, including that of the TSX Venture Exchange.

NSGold also announces that its Board of Directors has granted stock options to five of NSGold’s directors and officers in respect of an aggregate of 750,000 common shares, and to three employees and consultants in respect of an aggregate of 145,000 common shares.  The exercise price of the stock options is $0.14 per share.  The stock options vest in four equal tranches commencing three months from the date of grant, and will be fully vested in twelve months.  The stock options, which were granted under NSGold’s 2010 Stock Option Plan, expire five years from the date of grant.

About NSGold

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

For further information, please contact:

Glenn A. Holmes
Chief Executive Officer, NSGold Corporation
(902) 798-1148
glenn.holmes@nsgoldcorp.com

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.

March 16, 2012 was a record day for the distribution of 43,413,767 common shares of NSGold Corporation’s wholly-owned subsidiary NSX Silver Inc. to NSGold’s shareholders. These shareholders are supposed to receive one common share of NSX Silver for each share of NSGold. Following the distribution, NSGold now holds about 2,015,000 NSX Silver shares.

The shares of NSX Silver began trading on the TSX Venture Exchange on March 14, 2012, under the symbol NSY.

The distribution of the common shares of NSX Silver did not affect NSGold’s issued and outstanding shares.

Read more

Read the full eResearch Perspective from 22 March 2012 (PDF 289k)

The Phase 1 drilling program for the Dios Padre Project comprises a seven hole 2,000 meter preliminary program designed to test the geochemical and geophysical anomalies discovered during the 2011 exploration program. These anomalies represent significant areas of interest for silver, gold and copper as well as other base metals. As previously press released by NSGold Corporation, the 2011 3-D Induced Polarization geophysical survey revealed a large conductive anomaly that lies just to the north of the most recent historic mining operations striking east – west. This area appears to approach the surface and may outcrop within the geochemical anomalies. The central core of this anomaly appears as a highly-conductive mass approximately 600 meters wide by 800 meters long with a depth of at least 300 meters, which is the limit of the effective range of the survey method. The area of the new anomaly is underlain by a substantial rhyolite intrusive. As well, the exploration effort defined a metal zonation suggestive of a buried porphyry copper to the north of the main silver zone. It appears the silver mineralization in rhyolite intrusive rocks may represent distal apophyses of a larger, mineralized intrusive at depth to the north.

Depending upon the results from the preliminary drilling program the Company intends to carry out a Phase 2 program consisting of an estimated 30 additional drill holes (approximately 8,000 meters), to expand the geologic data base and to better target potential areas of mineralization including those that were the focus of historic mining activity.

The phased drilling program is a recommendation of the Company’s independent geological consultant, D.R. Duncan and Associates (“DRD”) of Windsor, Nova Scotia. DRD prepared a 43-101 compliant technical report for the Dios Padre Project in February 2012 and a copy of the report is available on www.sedar.com under the Company’s profile.

Qualified Person

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

About NSX Silver

NSX Silver Inc. is a mineral exploration company actively exploring for silver and associated metals in Mexico. NSX Silver’s principal property is the Dios Padre Project, Sonora State, Mexico which is held under an option agreement whereby NSX Silver can earn a 100% interest. NSX Silver’s shares are listed on the TSX Venture Exchange under the symbol NSY.

About NSGold

NSGold Corporation is a mineral exploration company actively exploring for gold in Nova Scotia, Canada. NSGold’s principal property is the Mooseland gold property, located in Nova Scotia. 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, NSX Silver Inc. and
NSGold Corporation
(902) 798-1148
glenn.holmes@nsgoldcorp.com

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.

Assay Results

The assay results from the final six holes of the 2011 diamond drill program at the Mooseland Gold Project have been received. All of these holes reported herein were drilled on the West Zone and significant drill intercepts are presented in the table below. A complete table of gold assay results in excess of 1 gram per tonne is attached in Appendix A.

* True width will vary with the drill hole angle and area within the deposit but are generally 50 to 70% of the reported interval

Holes NSG-36 and NSG-37 were drilled to the east of main area of the deposit and east of the 2010 drilling, while holes NSG-38-11 to NSG-41-11 were drilled to the west of the main area of the deposit. A total of 2,606 meters of drilling in eight holes was completed on the West Zone in the 2011 program and 2,404 meters in eight holes on the East Zone. Refer to NSGold press releases dated October 18, 2011 and November 22, 2011 for results for drill holes NSG-25-11 to NSG-35-11. Combined with the 2010 drill program, NSGold has now completed 11,517 meters of drilling in forty-one holes in both zones adding to the historic total of 141 holes totaling 45,055 meters.

The 2011 drilling program produced a total of 123 samples from the sixteen drill holes that assayed more than 1 gram per tonne of gold of which 12 assays exceeded 10 grams per tonne.

The highest result occurred in hole NSG-28-11, on the East Zone, returning 107 grams per tonne over 0.5 meters. All drill holes intersected numerous quartz veining, which was generally sulphide bearing, where projected. Landdrill International Inc. of Moncton, New Brunswick carried out the 2011 drill program.

Updated Resource Estimation

NSGold has retained MineTech International Limited (“MineTech”) to complete an updated resource estimation for the Mooseland Project incorporating the results from the 2011 drilling program. The most current resource estimation for the Mooseland Gold Project was completed by MineTech in June 2011 with a reported inferred gold resource of 2.5 million tonnes grading 4.9 grams per tonne containing 390,000 troy ounces (see NSGold press release dated June 15, 2011).

Sample Protocol and QA/QC

All samples from the Mooseland drilling program were sent to Activation Laboratories of Ancaster, Ontario for analysis. 3,195 samples were tested for gold by Fire Assay, Atomic Absorption finish method, of which 759 were analyzed using the “screen for metallics” method utilizing 100% of the sample, or approximately 24% of all samples. All samples testing 500 grams per tonne or greater were analyzed using the metallics method. Sample preparation and shipping arrangements were carried out by NSGold technical staff geologists according to best industry practices. Sample standards and blanks were inserted in accordance with CIM guidelines.

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 principal property is the Mooseland gold property, located in Nova Scotia. 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
glenn.holmes@nsgoldcorp.com

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.

-       NSX Silver to commence trading on TSX Venture Exchange on March 14, 2012

-       Share distribution will complete “spin-out” of NSX Silver

Vancouver, British Columbia – March 8, 2012 – NSGold Corporation (TSXV:NSX) and NSX Silver Inc. (TSXV:NSY) are pleased to announce that the Board of Directors of NSGold has approved the distribution by NSGold to its shareholders of a total of 43,413,767 common shares of NSX Silver and set March 16, 2012 as the record date for the share distribution.  The share distribution will complete the “spin-out” by NSGold to its shareholders of the shares of its wholly-owned subsidiary NSX Silver.

It is expected that the common shares of NSX Silver will commence trading on the TSX Venture Exchange on Wednesday, March 14.  The trading symbol for NSX Silver is “NSY”.

NSGold shareholders will receive one common share of NSX Silver for each share of NSGold held at the close of business on March 16, 2012.  After the distribution, NSGold will hold approximately 2,015,000 shares of NSX Silver.  The distribution by NSGold of the 43,413,767 common shares of NSX Silver will not affect NSGold’s issued and outstanding shares.

NSGold’s registered shareholders will receive share certificates representing their NSX Silver shares by mail shortly after the March 16, 2012 record date.  NSGold’s beneficial shareholders should contact their securities dealers regarding receipt of their NSX Silver shares.

As previously announced, in connection with the share distribution, NSX Silver filed a final prospectus dated February 28, 2012 with the securities commissions of each of the provinces of Canada.  The prospectus is available under NSX Silver’s company profile on SEDAR at www.sedar.com.

About NSX Silver

NSX Silver was incorporated in August 2011 as a wholly‑owned subsidiary of NSGold, with the intention of taking over the Mexican properties owned, and silver exploration activities in Mexico currently carried on, by NSGold, so that NSGold can devote itself solely to exploration for gold and other metals, primarily in Canada.

Prior to the distribution record date, NSX Silver will indirectly acquire the Dios Padre, Don Carlos and Alejandro mining concessions in Mexico from NSGold, which comprise NSGold’s sole Mexican exploration properties.  NSX Silver has acquired, and intends to acquire, additional interests in exploration properties in Mexico.

About NSGold

NSGold Corporation is a mineral exploration company actively exploring for gold in Nova Scotia, Canada.  NSGold’s principal property is the Mooseland gold property, located in Nova Scotia.  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

glenn.holmes@nsgoldcorp.com

Forward-Looking Statements

This news release contains statements that may constitute “forward-looking information” or “forward-looking 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 NSX Silver Inc. (“NSX Silver”) and 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 NSX Silver, NSGold or their respective 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 the control of NSX Silver and NSGold.  These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in NSX Silver’s final prospectus dated February 28, 2012 and under “Risks and Uncertainties” in NSGold’s Management Discussion and Analysis for the Year ended December 31, 2010, both of which are 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.  Neither NSX Silver nor NSGold intends, nor does NSX Silver or 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.

TSX Venture Exchange conditionally approves listing of NSX Silver common shares.

Vancouver, British Columbia – March 1, 2012 – NSGold Corporation (NSX:TSXV) and NSX Silver Inc. (NSY:TSXV) are pleased to announce that NSX Silver, a wholly owned subsidiary of NSGold Corporation, has obtained a receipt from the securities commissions of each of the provinces of Canada for a final prospectus dated February 28, 2012.  The prospectus qualifies shares of NSX Silver to be distributed by NSGold to its shareholders by way of distribution in kind.

NSGold will distribute approximately 43.4 million common shares of NSX Silver to the shareholders of NSGold on the distribution record date, on the basis of one common share of NSX Silver for every common share of NSGold held.  After the distribution, NSGold will hold approximately 2,015,000 common shares of NSX Silver.  The distribution by NSGold of approximately 43.4 million common shares of NSX Silver will not affect NSGold’s issued and outstanding shares.
NSGold expects to set the record date for the distribution shortly, and will issue a press release announcing the distribution record date in accordance with the policies of the TSX Venture Exchange.

The final prospectus provides all details regarding the “spin-out” of NSX Silver.  NSGold recommends that its shareholders review the prospectus carefully.  The prospectus will be available on SEDAR under the company profile of NSX Silver, at www.sedar.com.

NSGold and NSX Silver also announce that the TSX Venture Exchange has conditionally approved the listing of the common shares of NSX Silver subject to, among other standard listing conditions, the completion of the distribution of the shares of NSX Silver to the shareholders of NSGold and delivery of final listing documentation by NSX Silver to the TSX Venture Exchange.  Subject to satisfying these conditions, NSX Silver will be listed on the TSX Venture Exchange as a Tier 2 Mining Issuer.

NSX Silver

NSX Silver was incorporated in August 2011 as a wholly owned subsidiary of NSGold, with the intention of taking over the Mexican properties owned, and silver exploration activities in Mexico currently carried on, by NSGold, so that NSGold can devote itself solely to exploration for gold and other metals, primarily in Canada.

Prior to the distribution record date, NSX Silver will indirectly acquire the Dios Padre, Don Carlos and Alejandro mining concessions in Mexico from NSGold, which comprise NSGold’s sole Mexican exploration properties.  After such transfer, NSGold does not intend to be directly involved in mining exploration for silver in Mexico.  NSX Silver has acquired, and intends to acquire, additional interests in exploration properties in Mexico.

About NSGold

NSGold Corporation is a mineral exploration company actively exploring for gold in Nova Scotia, Canada.  NSGold’s principal property is the Mooseland gold property, located in Nova Scotia.  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
glenn.holmes@nsgoldcorp.com

Forward-Looking Statements

This news release contains statements that may constitute “forward-looking information” or “forward-looking 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 NSX Silver Inc. (“NSX Silver”) and 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 NSX Silver, NSGold or their respective 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 the control of NSX Silver and NSGold.  These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in NSX Silver’s final prospectus dated February 28, 2012 and under “Risks and Uncertainties” in NSGold’s Management Discussion and Analysis for the Year ended December 31, 2010, both of which are 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.  Neither NSX Silver nor NSGold intends, nor does NSX Silver or 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.

The geophysical survey identified high-chargeability anomalies corresponding to surface geochemical anomalies of copper, gold, silver and arsenic (a pathfinder element in gold exploration). These areas are heavily altered and leached to such a degree that it is expected that much of the metallic content has been stripped away. This makes the background values encountered even more significant. One such anomaly corresponds to the site of earlier mining activities. Four additional surface anomalies were found to contain strong values of the metals noted above while one was found to be a massive lead sulfide zone.

The 3DIP geophysical survey revealed a large conductive anomaly that lies just to the north of the most recent historic mining operations striking east – west. This area appears to approach the surface and may outcrop within the geochemical anomalies. The central core of this anomaly appears as a highly-conductive mass approximately 600 meters wide by 800 meters long with a depth of at least 300 meters, which is the limit of the effective range of the survey method. This anomaly represents a prime target for any future exploration.

NSGold believes that the results of these surveys provide an excellent template for planning and designing a comprehensive drilling program to test the potential indicated by both the surface and subsurface anomalies identified. NSGold expects that the next phase of the exploration program for the Dios Padre property will commence upon receipt of an updated technical report on the property, expected later this month. NSGold is fully funded for the next phase of its exploration program.

Update on Spin-Out of NSX Silver Inc.

With respect to completing the previously-announced spin-out of the shares of NSX Silver Inc., a wholly-owned subsidiary of NSGold, NSX Silver is required to file an updated technical report for the Dios Padre property, compliant with National Instrument 43-101, which includes the results of the above-noted surveys as well as a recommended exploration program for the Dios Padre property. NSGold and NSX Silver have commissioned the updated technical report and expect to file it on SEDAR later this month. NSGold expects to complete the spin-out of the shares of NSX Silver Inc. shortly after the filing of the updated technical report, subject to regulatory approval.

Sample Protocol and QA/QC

Rock samples of approximately two to three kilograms weight were taken at 100-meter intervals and collected in plastic bags, tagged and sealed by NSGold geotechnicians under the supervision of the Project Geologist. NSGold employees delivered the samples directly to ALS Minerals Laboratory in Hermosillo, Mexico, where they were processed and prepared for shipment to ALS Minerals Laboratory in Vancouver, which analyzed the samples for 36 elements using the ICP method plus Fire Assay with AA finish for gold. Random samples have been selected and are being shipped to a third-party umpire laboratory for check assaying.

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
glenn.holmes@nsgoldcorp.com

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.

The record date for the special meeting is the close of business on November 24, 2011. NSGold will mail a management proxy circular in connection with the special meeting to its shareholders shortly.

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
glenn.holmes@nsgoldcorp.com

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.

Assay results from holes NSG-29-11 through NSG-35-11 have been received and intersections with values over 1 gram per tonne (g/t) are disclosed in the appended table. Significant intercepts include the following;

• 24.7 g/t over 0.8 meters in hole NSG-30-11 (East Zone),
• 32.9 g/t over 0.5 meters in NSG-32-11 (East Zone), and
• 27.81 g/t over 0.8 meters in hole NSG-33-11 (East Zone)

Drill intersections reported are core lengths; true widths are typically 60-65% of core length. Holes NSG-34-11 through NSG-41-11 were drilled on the West Zone. Results from holes NSG-36-11 to NSG-41-11 are pending.

Samples are sent to Activation Laboratories on Ancaster, Ontario and assay standards and blanks are inserted at accepted intervals. All samples are fire assayed and samples with visible gold, or having an expectation of significant results, are assayed using the “screen for metallics” method.

Regular fire assay samples returning values greater than 500 ppb are re-tested using this method as well.

NSX Silver Inc. “Spin-Out” Update

As press released on October 21, 2011, the preliminary prospectus for the “spin-out” of NSX Silver Inc. was filed with the provincial securities commissions and the TSX Venture Exchange on October 20th. We have received the initial comments from the regulators and have provided them with our replies.

We have made one adjustment to the manner of distribution of the shares of NSX Silver Inc. The distribution will now involve a reduction of the paid-up capital of NSGold Corporation. This means that the distribution of shares of NSX Silver to the shareholders of NSGold should be treated as non-taxable for most of NSGold’s shareholders.

A reduction of the paid-up capital of NSGold requires a special meeting of shareholders. NSGold expects that the meeting will be held on or about December 22, 2011. NSGold will mail a management proxy circular to shareholders in connection with the special meeting shortly.

As both processes (the special meeting of shareholders and clearance of the prospectus) will run in parallel, the additional time to achieve this advantageous tax treatment should not be more than 2 to 3 weeks. NSGold’s intention is to set a record date in December for the distribution of the shares of NSX Silver to the shareholders of NSGold, and to have the shares of NSX Silver listed and trading before year end.

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
glenn.holmes@nsgoldcorp.com

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.

Appendix A
Mooseland Gold Project Assay Results

* intersections reported are core lengths; true widths are typically
60-65% of core length
** grade is reported in grams per tonne with all assay results reported
being “screen for metallics” method

Vancouver, British Columbia – October 21, 2011

NSGold Corporation (NSX:TSXV) announces that NSX Silver Inc., a wholly-owned subsidiary of NSGold Corporation, has filed a preliminary prospectus with the securities commissions of each of the provinces of Canada in connection with a distribution of NSX Silver common shares to the shareholders of NSGold by way of dividend in kind. NSGold, the sole shareholder of NSX Silver, will distribute an aggregate of approximately 43.4 million common shares of NSX Silver to the shareholders of NSGold by way of dividend in kind. NSGold shareholders will receive one common share of NSX Silver for every issued and outstanding NSGold share on the distribution record date. The record date for the distribution of the NSX Silver shares will be set by the Board of Directors of NSGold in accordance with the policies of the TSX Venture Exchange. NSGold will issue a press release announcing the record date. It is not expected that NSGold will retain a material number of shares of NSX Silver, if any.

NSX Silver was incorporated in August 2011 as a wholly-owned subsidiary of NSGold, with the intention of taking over the Mexican properties owned, and silver exploration activities in Mexico currently carried on, by NSGold, so that NSGold can devote itself solely to exploration for gold and other metals, primarily in Canada.

Prior to the distribution record date, NSX Silver will indirectly acquire the Dios Padre, Don Carlos and Alejandro mining concessions in Mexico from NSGold, which comprise NSGold’s sole Mexican exploration properties. After such transfer, NSGold does not intend to be directly involved in mining exploration for silver in Mexico. NSX Silver has acquired, and intends to acquire, additional interests in exploration properties in Mexico.

The preliminary prospectus provides all details regarding the “spin-out” of NSX Silver Inc. NSGold recommends that its shareholders review the prospectus carefully. The prospectus will be available on SEDAR under the company profile of NSX Silver, at www.sedar.com.

The distribution by NSGold to its shareholders of approximately 43.4 million NSX Silver common shares is subject to regulatory approval, including that of the TSX Venture Exchange.

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
glenn.holmes@nsgoldcorp.com

Forward-Looking Statements

This news release contains statements that may constitute “forward-looking information” or “forward-looking 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. Forwardlooking statements and information are based on information available at the time and/or management’s goodfaith 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 forwardlooking 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.