Nevada Gold Holdings Inc. Discusses Tempo Prospect

FERNLEY, Nev.--(BUSINESS WIRE)--Nevada Gold Holdings, Inc. (OTCBB: NGHI), a mineral exploration company focused on identifying and developing large-scale gold deposits in Nevada, is pleased to discuss the Tempo Prospect.

“Almost all of the previous drilling on the property has been very shallow. According to my current geological models, I believe that the right host rocks for a world class deposit are deeper, and this will be the initial focus of our drilling program.”

The Tempo Prospect is 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 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. The property’s land position comprised of 146 contiguous unpatented lode claims, approximately 2920 acres or 4.6 square miles.

The Company has already identified four distinct targets on the Tempo property.

• Northern Target: northern one-third of property includes numerous exposures of permissive lower-plate carbonate rocks within a larger expanse of overlying non-permissive upper-plate Valmy Fm. Zones of decarbonatized limestone and jasperoids are common and contain anomalous to very anomalous gold and arsenic values.
• Skarn Target: central portion of property covers about 1 square mile of lower plate carbonate rock intruded by Laramide diorites with associated gold-bearing skarn.
• Central Target: defined by gold and arsenic soil anomaly approximately 5000 feet strike length, north of, and parallel to the Southern target. Both upper-plate and permissive lower-plate rocks are present; a high of 20 g/t gold and 300 g/t silver in rock samples.
• Southern Target: known mineralization in non-permissive upper-plate siliciclastic rocks potentially overlying permissive rock units. Zone of gold mineralization is approximately 5000 feet long by 500 to 1000 feet wide; soil anomalies of 100 to 500 ppb gold with strong arsenic.

There have been approximately 160 holes drilled on the Tempo property. Most of these holes were very shallow and tested only the very near surface expressions of gold and pathfinder metal anomalies. We believe that deeper target opportunities are present. The geology, geochemistry and alteration is “typical” of Carlin style gold deposits. A structural, intrusive-centered dome exposes window of Cambrian through Silurian permissive rock units. A large hornfels and skarn zone surrounds the intrusive. Tempo has abundant geological data generated by several previous companies, including geologic maps, rock and soil geochemistry and drill hole logs and assays. A detailed gravity survey, which identified multiple new drill targets, was recently completed in 2007.

“Tempo’s land position effectively controls an entire district-scale exploration opportunity and has all the ingredients that could indicate several large, 1 million ounce plus, deposit discoveries. Tempo is one of the best exploration properties I have seen in my 35-year Nevada career and will be the focus of our initial exploration efforts,” commented President and Chief Geologist of Nevada Gold Holdings Inc., Dave Mathewson. “Almost all of the previous drilling on the property has been very shallow. According to my current geological models, I believe that the right host rocks for a world class deposit are deeper, and this will be the initial focus of our drilling program.”

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 north of Austin, Nevada. Tempo consists of 146 contiguous unpatented lode claims, totaling 2,920 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."