NSGold applauds decision by the Government of Nova Scotia to support the development of the Touquoy Gold Project

    




 BEDFORD, NS, June 15, 2012 /CNW/ - NSGold Corporation  applauds the decision made by the Nova Scotia Department of Natural  Resources announced earlier today to support the development of the  Touquoy/Moose River Gold Project. 

 NSGold's Chief Executive Officer, Glenn Holmes, commented; 

 "NSGold considers today's announcement to mean that Nova Scotia is  decidedly open for business for gold mining companies. For too many  years mining investment has bypassed Nova Scotia in favor of more  mining friendly jurisdictions such as New Brunswick and Newfoundland  and Labrador.  The development of Nova Scotia gold deposits in an  environmentally and socially responsible manner can be a significant  economic driver for the Province."  

 NSGold's Mooseland Gold Project is located less than 15 kilometers from  The Touquoy/Moose River Gold Project.  The Mooseland Project has an  inferred gold resource of 454,000 ounces (2,520,000 million tonnes at  an average grade of 5.6 grams per tonne at a cut-off grade of 2.6 grams  per tonne); see NSGold press release dated June 5, 2012. 

 Mooseland is the site of the first recorded gold discovery in Nova  Scotia in 1858, and the property recorded total historical production  from 1863 to 1934 of 3,865 ounces of gold recovered from 9,058 tons of  crushed material (J. Bates, 1982). More recently Mooseland was the  target of a succession of focused exploration programs by Hecla Mining  Company of Canada and Acadia Mineral Ventures, Ltd. (1987-1992) and  Azure Resources Corp. (2003-2004).  These companies completed a total  of 36,858 meters of diamond drilling on Mooseland.  Mining  infrastructure on the Mooseland property includes a three-compartment  shaft sunk to a depth of 125 meters complete with a steel head frame  and a ramp to a depth of 50 meters.  Since 2010 NSGold has expended in  excess of $3.3 million advancing the Mooseland Project. 

 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. 

 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. 

NSGOLD CORPORATION


CONTACT:  Glenn A. HolmesChief Executive Officer, NSGold Corporation(902) [e-mail] 


    

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