Nevada Gold Holdings Inc. Announces Permit Acceptance for Initial Drilling Development on Tempo Prospect

FERNLEY, Nev.--(BUSINESS WIRE)--Nevada Gold Holdings, Inc. ("the Company") (OTCBB: NGHI.OB), a mineral exploration company focused on identifying and developing large-scale gold deposits in Nevada, announced today that the Company has received permit acceptance for the intent to drill sites that is has selected on the Tempo Property, located on the southern extension of the north-south trending Rabbit Creek Gold Trend, a prolific Nevada gold belt containing at least 80 million known ounces of gold. The drill site selections were synthesized from integrated data including detailed gravity, geology, abundant sample results, and previously drilled holes on the Tempo property. In addition, the Company has submitted a cash bond through a State of Nevada guarantee process and has received approval to initiate the drilling program.

“Tempo is one of the best exploration properties I have seen in my 35-year Nevada career, and I look forward to commencing site construction and drilling shortly. Almost all of the existing 160 holes on the property have been drilled very shallow, and based on my current geological models, I believe that the right host rocks for a large deposit are deeper, and I expect to utilize this drilling program to confirm the need for a much larger drilling project in the future,” commented Dave Mathewson.

The property was originally identified and staked by well-known, successful Nevada prospector, Lyle Campbell, in 1968, and a mineral lease was assigned to Nevada Gold Holdings in December, 2008. Today, the property’s land position consists of 206 contiguous unpatented lode claims, totaling approximately 4000 acres or 6.3 square miles. Tempo’s land position effectively controls a district-scale exploration opportunity and has ingredients that the Company believes suggest potential for several large, 1 million ounce plus, deposit discoveries.

About Nevada Gold Holdings, Inc.

Headquartered in Fernley, NV, Nevada Gold Holdings, Inc. engages in the acquisition, exploration, and development of gold properties. The Company’s experienced management seeks to identify world class gold deposits by applying advanced geological and geophysical methods to high potential exploration properties located in the productive gold mining regions of Nevada. The Company currently holds a lease on one property, the Tempo prospect, located approximately 20 miles northwest of Austin, Nevada. Tempo consists of 206 contiguous unpatented lode claims, totaling about 4000 acres, and is located within the north-south trending Rabbit Creek Gold Trend. The Company’s current plan is to explore for gold at Tempo and to acquire future exploration prospects, and ultimately to develop Nevada Gold Holdings into a successful exploration company.

More information about the Company may be found at: www.nevadagoldholdings.com.

Forward-Looking Statements

Certain statements in this press release that are not historical facts are "forward-looking statements." Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital to fund its current and proposed planning, exploratory, and drilling activities; (ii) the risk that a commercially exploitable gold deposit will not be found on the Company’s property; (iii) the Company’s ability to locate and acquire future exploration prospects; (iv) the Company’s ability to attract and retain qualified professionals; (v) the price of gold on the world markets; (vi) competitive factors and developments beyond the Company's control; and (viii) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."

Nevada Gold Holdings, Inc.
Investor Relations
Corporate Evolutions, Inc.
Ph: 516-482-0155
info@corporateevolutions.com
www.corporateevolutions.com