Multiple High-Priority Drill Targets Identified From Recent Geophysical Survey At Belmont Silver Project

TORONTO - Nevada Silver Corporation (NSC) has received results and evaluation of the recently completed Induced Polarization (IP) and Resistivity survey at the Belmont Silver Project in Nevada.

This survey is the first significant exploration to be undertaken at the Belmont Silver Project in over a century and has identified a large "elephant"-shaped anomaly with multiple untested targets of potential sulphide mineralization that will be drill-tested.

The pole-dipole IP/Resistivity geophysical survey was completed across the abandoned Belmont silver mining camp, located 15 kilometers south of the Corcoran Silver-Gold deposit and 72 kilometers northeast of Tonopah in central Nevada. The survey was undertaken to identify drill targets in zones of alteration, quartz veins/silicification and sulphides associated with silver mineralization beneath and along-trend from the historic silver mines. A number of extremely interesting resistivity and IP responses that indicate sulphide-rich drill targets have been identified for drill testing.

The study defined both IP responses and zones of high resistivity which appear to be due to both stratigraphic and structurally controlled features. The strongest IP responses are associated with carbonaceous sediments and graphite along crosscutting structures, and many are interpreted to be structurally controlled alteration features that have been identified at surface during recent detailed surface mapping. Associated resistivity highs are related to vein-filled structures and pervasive silicified/pyritic zones that include both vertical and flat-lying structures as well as lithology contacts.

Twenty-four resistivity targets and related chargeability anomalies all indicate sulphide-rich accumulations in the vicinity of veins and from these six high priority targets have been selected for initial drill testing.

CEO Gary Lewis, said, "The geophysical results show a monster untested anomaly located beneath, and along trend from, high-grade, shallow silver deposits mined during the late 1800s. Nevada Silver has identified very exciting drill targets in what appears to be sulphide-rich mineralization with possible high-silver content. With little-to-no exploration in more than a century, NSC is looking forward to drill testing these outstanding targets in coming weeks and has secured drill hole permitting and a drill rig for the work. Fresh discoveries of silver, favorably located close to NSC's Corcoran Silver-Gold Project will be a huge benefit to future development opportunities of both projects.