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NSGold Revises Private Placement

07.01.2015  |  The Newswire

Bedford, Nova Scotia / TNW-ACCESSWIRE / January 7, 2015 / NSGold Corporation (NSX:TSXV) ("NSGold" or the "Company") has revised the pricing of its previously-announced non-brokered private placement in light of market conditions. As revised, NSGold will issue a maximum of 3,529,411 shares at a price of $0.085 per share, for maximum proceeds to NSGold of $300,000. Each share will be accompanied by one common share purchase warrant. Each warrant will entitled its holder to acquire one additional common share of NSGold for three years at a price of $0.125.

The proceeds from the proposed private placement will be used to maintain the Company's mineral properties and for working capital.

NSGold has also revised the pricing of the previously-announced settlement of a loan from Van Hoof Industrial Holdings Ltd. ("VHIH"), the Company's largest shareholder. As revised, the loan and accrued interest, in an amount of $313,520.51, will be settled through the issuance to VHIH of NSGold common shares at a deemed price of $0.085, the same price as the issue price for the private placement, resulting in the issuance of 3,688,476 common shares to VHIH. NSGold will not issue any warrants to VHIH in connection with the settlement of the loan.

Closing of the proposed private placement and completion of the settlement of the loan from VHIH are subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including that of the TSX Venture Exchange.

For further information, please contact:

Glenn A. Holmes

Chief Financial Officer, NSGold Corp.

(902) 798-1148

Cautionary Statements:

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.

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 Corp. ("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's Discussion and Analysis for the Year ended December 31, 2013, which is available on SEDAR at, 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.

(Not for distribution to US wire services or for dissemination in the United States of America)

Copyright (c) 2015 TheNewswire - All rights reserved.

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