Nuveen Georgia Premium Income Municipal Fund Common Shares of Beneficial Interest (NPG)

This news has it moving. Should have bought the double bottom I guess..


Nevada Pacific to raise $5-million with McEwen


2005-12-09 10:41 ET - News Release

Mr. David Hottman reports

ROB MCEWEN ACQUIRES 18.2% STAKE IN NEVADA PACIFIC GOLD

Nevada Pacific Gold Ltd. has entered into an agreement with Robert McEwen, of Toronto, Ont., to issue 12.5 million units, at a price of 40 cents per unit, for proceeds of $5-million. Each unit consists of one common share and one common share purchase warrant, each warrant exercisable to acquire one common share of the company, at an exercise price of 50 cents per share, for a term of two years.

As a result of the private placement, Mr. McEwen will hold 18.2 per cent of the outstanding shares of the company and, in the event of exercise of all of the warrants, Mr. McEwen will hold 30.8 per cent of the outstanding common shares of the company. In accordance with rules of the TSX Venture Exchange, as this constitutes a change of control, the placement will close in two tranches, the first being for 6,921,213 units and the second tranche for the balance of the units will be conditional upon receiving shareholder approval. The company has called an extraordinary general meeting of shareholders to be held Jan. 23, 2006, for the purpose of approving the second tranche of the private placement. An additional 250,000 units will be issued to insiders of the company for proceeds of $100,000.

Mr. McEwen will join the board of directors of Nevada Pacific Gold. Mr. McEwen has been associated with the investment and resource industries for 29 years. Mr. McEwen is the founder of Goldcorp Inc., where he took the company from a market capitalization of $50-million to over $7-billion. He has been honored with such awards, including the Northern Miners' Man of the Year Award, Ernst & Young's Ontario Entrepreneur of the Year Award in the Energy Category and the PDAC's Developer of the Year.

This transaction supersedes the placement announced in Stockwatch on Sept. 12, 2005.

Canaccord is busy selling at about a 50% loss. Probably a buy in here somewhere. They need to get the drills turning faster. At least there's a good core group of geologists on board.

It stirs. Again.

Slept in.

LOL. All in all down there this year, that was probably the place to be.

Canaccord is in for a pile on this one, and given enough ammo I figure they'll run it up a multiple or two.

McEwen owns everything else in the immediate area although he had little success with his junior jv's while at Goldcorp. He has visibility though and it gives the newsletter boys something to buzz about.

It's got drill programs up its ying yang and somewhat of a mine in Mexico which probably has some good drill targets if they get the cash to explore it properly.

Given the cap, it's not a bad punt on an area play. If I'm missing something, I'd be grateful to hear it as I'm thinking of adding.

I think Hommel will frontrun it again too.

Spring activity woke you up?
Shakeout flush?
Drill programs?

Time for you to get out of Nevada!

Waking up on activity at Tonkin Springs. Had the shakeout flush already. More drill programs than one can count.

at the PDAC the nevada pacific guys claim that they will are cash flow positive right now! that february was the first month of making real money - and the mine is just getting up and running. they are committed to an extensive drill program to prove up their deposits in nevada. they think that the majestral mine should have much more gold and silver than currently proven and will be drilling there as well. dilution should be minimal from here. i decided to play this one as a hold.
hi ho hi ho
its off to work we go
jon

New coverage by Wolverton on the NPG site. Canaccord now also talking it up.

Guess it'll accumulate until the big boys decide to drive er up, or the drill forces their hands.

well, i hope ur rite, ive been sitting on some NPG forever and its about time for some action! good to hear about ir at NPG, they have been having good press releases, the market seems to just yawn. that will change, good properties, good management, thats the key imho.

hi ho hi ho
its off to work we go
jon

This looks like it's going to make its move next week.

Canaccord is bringing in their clients, and it is undervalued.

Haven't checked when earnings are due, but I suspect they will show some production.

Had a great chat with IR. No pumping me to buy more, and sounds like they are very aware of the need for no further dilution until the stock is higher. They are also happy with Placers work schedules at the various JVs.

My concern was that Placer would just sit on the properties.

They also plan to drill Magistral to expand the resource. Possible expansion to underground also depending on the drilling.

My read of the charts is one of a fairly long accumulation.

Appreciate any comments that can temper my enthusiasm, and/or shed more light. I am always ready to be wrong in this game.

Nevada Pacific Gold Ltd.: High Grade Gold Intersected in
Core Drill Hole at Limousine Butte

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jul 7, 2004) - Nevada
Pacific Gold Ltd. (TSX Venture Exchange - Symbol NPG) wishes to
announce assay results for core drill hole RRC04-07 recently
completed at the Company's 100% owned Limousine Butte project
located in White Pine County, Nevada. The thirteen square mile
Limousine Butte project is situated along the projected and
untested southern extension of the Carlin Trend. The property
covers a very large hydrothermal gold system that exhibits
alteration features indicative of sediment/structure hosted gold
deposits found on the Carlin Trend and elsewhere in Nevada.

The drill hole's location and orientation were chosen to test
structural intersections, lithology, continuity, orientation and
mineralogy of the high-grade mineralization found in the
Resurrection Ridge area.

The newly received results for core drill hole RRC04-07,
including a 90 foot intersection averaging 0.176 ounce per ton
gold, are summarized in the table below:




--------------------------------------------------------------------
Hole From To Intersection in Feet
Number (feet) (feet) Gold Grade in Ounces
--------------------------------------------------------------------
RRC04-07 290 305 15 feet averaging 0.111 ounce per ton Au
--------------------------------------------------------------------
355 445 90 feet averaging 0.176 ounce per ton Au
--------------------------------------------------------------------
Including 385 445 60 feet averaging 0.248 ounce per ton Au
--------------------------------------------------------------------
Including 385 405 20 feet averaging 0.388 ounce per ton Au
--------------------------------------------------------------------
Including 425 435 10 feet averaging 0.400 ounce per ton Au
--------------------------------------------------------------------



The above drill results are a continuation of the reverse
circulation drill program conducted in late 2003 which was
designed to test the continuity of the Resurrection Ridge
high-grade gold mineralization found in drill hole LIM-46
completed in a 2000 drill test by Newmont Mining. The results for
these drill holes, RR03-1 and RR03-2, as well as the previously
released results for LIM-46, are summarized in the table below:




--------------------------------------------------------------------
Hole From To Intersection in Feet
Number (feet) (feet) Gold Grade in Ounces
--------------------------------------------------------------------
LIM-46 415 485 70 feet averaging 0.137 ounce per ton Au
--------------------------------------------------------------------
including 415 445 30 feet averaging 0.260 ounce per ton Au
--------------------------------------------------------------------
RR03-1 375 530 155 feet averaging 0.061 ounce per ton Au
--------------------------------------------------------------------
including 405 455 50 feet averaging 0.162 ounce per ton Au
--------------------------------------------------------------------
including 415 440 25 feet averaging 0.269 ounce per ton Au
--------------------------------------------------------------------
RR03-2 270 465 195 feet averaging 0.050 ounce per ton Au
--------------------------------------------------------------------
including 380 410 30 feet averaging 0.123 ounce per ton Au
--------------------------------------------------------------------



All three Nevada Pacific drill holes contain similar lithologies
(rock type) and alteration as seen in the previously drilled
Newmont hole LIM-46 and appear to crosscut the same gold bearing
structure previously encountered. In addition, the zone of clay
alteration and jasperoid breccia is significantly thicker in the
three Nevada Pacific angle holes than the previous Newmont
vertical hole. These wider zones of alteration correspondingly
host significantly thicker zones of gold mineralization. In drill
hole RRC04-07 the upper 15 feet of 0.111 ounce per ton gold
mineralization, suggests that other zones of significant grade
may be present parallel to the known high-grade zone at
Resurrection Ridge.

Management of Nevada Pacific Gold is encouraged with the results
to date and will continue to explore and develop the extensions
of the high-grade mineralization as well as other targets on the
Limousine Butte property.

Mr. Curt Everson, P.Geol., M.Sc. is a Qualified Person as defined
by National Instrument 43-101 and is responsible for program
design and quality control of exploration undertaken by the
Company in Nevada.

Nevada Pacific Gold Ltd. was founded in March 1997. The Company's
property portfolio covers approximately 60 square miles of
mineral rights including portions of two significant gold
producing belts in the State of Nevada. The Company's BMX project
is optioned to Placer Dome. A description of these projects,
including maps and photographs can be viewed on the Company's
website at: www.nevadapacificgold.com.

ON BEHALF OF NEVADA PACIFIC GOLD LTD.

Richard J. Barclay, CEO and Director

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Nevada Pacific Gold Ltd.
David Hottman
(604) 646-0188
(604) 646-0189 (FAX)
Website: www.nevadapacificgold.com
No securities regulatory authority or stock exchange has reviewed
or accepts responsibility for the adequacy or accuracy of this
release.

Drilling to Commence at Nevada Pacific's Keystone
Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jul 6, 2004) - Nevada
Pacific Gold Ltd. (TSX Venture Exchange - Symbol NPG) is pleased
to announce that all permits for a Phase I drill program have
been received for the Company's 100% owned Keystone project
located in Eureka County, Nevada. Earthwork to construct drill
roads and pads has begun and a 7,000 ft. drill program will
follow.

The Keystone project is located to the south of the Pipeline
Mine/Cortez Joint Venture (CJV) on the Battle Mountain - Cortez
Gold Trend and just 12 miles south of the new 10+ million ounce
Cortez Hills, Pediment and ET Blue discoveries. The property
includes base and precious metal mineralization that occurs along
the edge of the Keystone window in both upper and lower plate
rock, near the northern contact of a 33.4 Ma granodiorite stock.
Historic drilling shows indications of Carlin-style gold
mineralization with assays up to 4.3 g/t gold in lower-plate
jasperoids. Geophysical surveys have recently been completed
outlining a number of drill targets. Geochemical gold targets and
high-grade massive sulphide skarn mineralization (including float
boulders grading over 50% combined base and precious metals) will
be the focus of the drill program.

An emerging understanding of the geologic setting for the Cortez
Hills mineralization has allowed Nevada Pacific to identify and
acquire areas of similar geologic potential adjacent to the
original (1999) Keystone land package. With this expansion and
the newly acquired Pat Canyon property to the east, Nevada
Pacific has a significant land position of 14.5 square miles
astride the Cortez Trend; currently one of the most active
exploration areas in Nevada.

Additional information with regards to the Keystone exploration
program will be released as it becomes available.

Nevada Pacific Gold Ltd. owns and operates the Magistral Gold
Mine in Mexico and an exploration property portfolio covering
approximately 60 square miles of mineral rights including
portions of two significant gold producing belts in the State of
Nevada. The Company's BMX project is optioned to Placer Dome. A
description of these projects, including maps and photographs can
be viewed on the Company's website at: www.nevadapacificgold.com.




ON BEHALF OF NEVADA PACIFIC GOLD LTD.

Richard J. Barclay, CEO and Director

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Nevada Pacific Gold Ltd.
David Hottman
(604) 646-0188
(604) 646-0189 (FAX)
Website: www.nevadapacificgold.com
No securities regulatory authority or stock exchange has reviewed
or accepts responsibility for the adequacy or accuracy of this
release.

Nevada Pacific Gold to Initiate 25,000 Feet of Drilling
on Keystone, Amador Canyon and Limousine Butte

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Apr 1, 2004) - Nevada
Pacific Gold Ltd. (TSX Venture Exchange - Symbol NPG) is pleased
to announce that the Company is finalizing a 20,000 foot reverse
circulation drilling contract with Layne Christensen Company and
negotiating a 5,000 foot core drilling contract with Boart
Longyear Company. Extensive drill programs are scheduled to begin
in mid-April on three of the company's Nevada properties; the
Amador Canyon, Keystone and Limousine Butte projects. The total
budget is estimated to be US$500,000.

Permits for the Amador Canyon drill program are expected to be
granted during the first week of April at which time construction
of the drill roads and drill sites will begin. Drilling is
expected to commence by mid-April. The property has never been
drill tested so this initial program will consist of 10,000 feet
of reverse circulation drilling designed to test disseminated
sulphide silver mineralization targeted by surface mapping,
geochemistry and data collected from a recently completed
geophysical survey.

The remaining 10,000 feet of reverse circulation drilling will be
divided between the Company's Limousine Butte and Keystone
properties. In addition to the reverse circulation contract, a
core drilling program of five thousand feet is also planned for
these two projects. Three thousand feet of core drilling will
test the massive sulfide target area at Keystone with the
remaining two thousand feet testing the high-grade structure and
resource area at Limousine Butte.

Drilling on all three projects is anticipated to continue until
approximately mid-July. Details and results of the programs will
be discussed as data is received.

Curt Everson, P.Geol., M.Sc. is a Qualified Person as defined by
National Instrument 43-101 and is responsible for program design
and quality control of exploration undertaken by the Company.

Nevada Pacific Gold Ltd. was founded in March 1997. The Company
owns the operating Magistral Gold Mine in Mexico and an
exploration property portfolio covering approximately 60 square
miles of mineral rights including portions of two significant
gold producing belts in the State of Nevada. The Company's BMX
project is optioned to Placer Dome. A description of these
projects, including maps and photographs can be viewed on the
Company's website at: www.nevadapacificgold.com.

ON BEHALF OF NEVADA PACIFIC GOLD LTD.

Richard J. Barclay, CEO and Director

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Nevada Pacific Gold Ltd.
David Hottman
(604) 646-0188
(604) 646-0189 (FAX)
Website: www.nevadapacificgold.com

anybody got a take on this news? i thought that the news was good but the market sold the stock down, bmany of the juniors were down too today - funny action really, gold and silver up, shares down. hmmmm

jon

Nevada Pacific Completes Drill Targeting at Amador
Canyon Silver Project

VANCOUVER, BRITISH COLUMBIA--Nevada Pacific Gold Ltd. (TSXV -
NPG) is pleased to announce the completion of targeting for a
Phase I drill program at the Company's 100% owned Amador Canyon
Silver Project. The project is located four miles north of the
town of Austin in Lander County, Nevada in the northern portion
of the Reese River (Austin) Mining District. The project area is
unique in the district in that a wedge of quartzite and sandstone
with inter-layered graphitic shale and siltstone underlies it.
This type of stratigraphy is a good host for disseminated silver
mineralization and is evident by the numerous, widespread
gossanous zones and historic workings that occur across the
property.

Targets have been identified based on surface mapping,
geochemistry and results from the recently completed and
interpreted geophysical data. The Amador Canyon property has
never been drill tested and a program comprising 10,000 feet of
drilling will be completed to form the initial test of the
property. Permitting for this drill program is in process with
final approval expected soon.

Quantech Consulting Inc. completed a 24 line-kilometer gradient
array Induced Polarization (IP) geophysical survey over the main
area of surficial alteration and mineralization. In addition to
the gradient array coverage, two pole-dipole IP profiles,
totaling 3 line kilometers, were surveyed to confirm the initial
gradient results and to give depth-to-target estimates. Initial
IP results outline an area of relatively high conductivity and
chargeability consistent with a large body of disseminated
mineralization in the area of the historic workings.

Geologic mapping, coupled with regional airborne magnetic
geophysics indicate the presence of a large intrusive body on the
property. The IP anomalies form a halo around this body, and may
represent silver mineralization associated with its emplacement.
The chargeability and conductivity response appears to indicate
the presence of disseminated sulfides in the anomalous area,
though the flat veins mapped at surface give a somewhat elevated
response above this overall background. The intensity of the
anomalies appears to increase toward the eastern edge of the
grid, suggesting a vector toward a possible feeder structure for
this mineralization.

An area of unusually high conductivity was encountered at the
easternmost end of one of the pole-dipole profiles. Nevada
Pacific management believes this may represent abundant carbon
and/or sulphides and may be related to a high-angle
north-trending fault system. Surface rock chip sampling has
demonstrated the association of the silver mineralization to both
carbon and sulfides and has returned values of 8 to 125 opt
silver in outcrop containing carbon and 10 to 75 opt silver in
outcrop containing sulfides.

A ground magnetic and VLF survey was also completed over the
project area by Gradient Geophysics Inc. A total of 66 line
kilometers of data were collected over an area complementing the
IP grid and extending an additional 600 meters to the east. This
data supports the findings of the IP and airborne magnetic work
and outlines a strong north trending structural grain. The
intrusive rocks are clearly outlined and a major structural break
is mapped on the east side of the grid. This break may represent
a feeder structure.

Targets identified as a result of both geophysical and
geochemical programs will be drilled as soon as permissible. In
addition to this drill program, follow up geophysical surveys
will be designed to map the full extent of the anomalous
responses. Further details of all programs will be announced upon
their commencement.

Curt Everson, P.Geol., M.Sc., is a Qualified Person as defined by
National Instrument 43-101 and is responsible for program design
and quality control of exploration undertaken by the Company.

Nevada Pacific Gold Ltd. was founded in March 1997. The Company
owns the operating Magistral Gold Mine in Mexico and an
exploration property portfolio covering approximately 60 square
miles of mineral rights including portions of two significant
gold producing belts in the State of Nevada. The Company's BMX
project is optioned to Placer Dome. A description of these
projects, including maps and photographs can be viewed on the
Company's website at: www.nevadapacificgold.com.

ON BEHALF OF NEVADA PACIFIC GOLD LTD.

Richard J. Barclay, CEO and Director

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Nevada Pacific Gold Ltd.
David Hottman
(604) 646-0188
(604) 646-0189 (FAX)
Website: www.nevadapacificgold.com
No securities regulatory authority or stock exchange has reviewed
or accepts responsibility for the adequacy or accuracy of this
release.

Nevada Pacific Gold Ltd.: Nevada Exploration Project
Update

VANCOUVER, BRITISH COLUMBIA--Nevada Pacific Gold Ltd. (TSX
Venture Exchange - Symbol NPG) is pleased to provide an update on
four existing exploration projects and two new acquisitions in
its extensive portfolio that now includes thirteen gold and
silver exploration projects in the state of Nevada. The Amador
Canyon Project will be updated under a separate news release.

Exploration Update:

BMX Gold Project - located within the Northern Battle Mountain
District, the project consists of 24 square miles of mineral
rights. The project is under Option to Placer Dome US Inc., who
is funding all work as part of a $ 4 million Joint Venture
agreement signed between the two companies in December 2002.

Phase I drilling was recently completed and comprised a total of
7,060 feet in ten reverse circulation drill holes. Drilling
tested four of the most accessible target areas that were the
lowest in elevation and helped provide stratigraphic information
for the project area. These targets were selected as a result of
surface mapping, soil and rock-chip geochemistry and geophysical
surveys. All ten holes drilled in this program encountered
geochem gold, trace and base-metal mineralization, thus
confirming the presence of a major gold and copper system(s).

BMX-03-1, BMX-03-2 and BMX-03-4 were designed to test a distinct
geochemical anomaly in the "Mote" area. Historic drilling in the
area suggested there would be approximately 450 feet of pediment
gravel cover. The soil/gas geochemical program was specifically
designed to image potentially buried ore bodies. Additional
detailed gravity surveys carried out by the Nevada Pacific
Gold-Placer Dome JV outlined major buried horst-bounding faults.
These horst-bounding structures display good continuity and
project strongly mineralized features, mapped in the uplands, to
the south with gold values up to 10 ppm. These "buried and
projected" structures are interpreted to be mineralized and are
postulated as the source for the soil/gas geochemical anomalies.

All three of the drill tests display anomalous geochemistry
analogous to a mineralized system. Two of the holes encountered
anomalous gold values, with numerous intervals containing 20 to
+50 ppb gold. Free gold was panned from alluvial material
directly above the bedrock contact. Assays of this alluvial
material were generally greater than those from the underlying
bedrock, with individual values of 199 ppb. The result of this
first drill test suggests close proximity to the main mineralized
body, with the stronger gold values in the alluvium being eroded
from nearby mineralization.

The seven remaining holes tested three target areas proximal to
the Elder Creek Porphyry. During the Phase I Program, Nevada
Pacific Gold secured historic assay results from two holes
drilled in the area by Western Mining in 1994. All nine of the
drill holes contained significantly anomalous gold values and
fall within a coincident gravity and aeromagnetic high that
defines the proximal alteration halo surrounding the Elder Creek
stock. The strongest gold values in these previously drilled
holes occur on the edge of a large pediment covered area within
the mapped alteration halo that surrounds the Elder Creek
Porphyry.

Gold assays up to 0.024 opt and copper values up to 0.86% were
encountered in Nevada Pacific Gold's drilling. Pathfinder
elements were also extremely elevated with arsenic values up to
6,415 ppm and antimony values up to 235 ppm. The highest gold
values were seen in Western Mining's hole MOTC-07 which averaged
0.256 opt gold over 10 feet from 125'-130'. This drill hole was
located 700 feet from Nevada Pacific's BMX-03-6, which bottomed
in 100 feet and averaged values of 192 ppb gold and 627-ppm
arsenic. The second Western Mining drill hole, MOTC-12 (located
5,100 feet north of MOTC-07), averaged 50 ppb gold over 1,486
feet (from 0'-1,486') with individual 5 foot gold values up to
0.022 opt. Nevada Pacific's BMX-03-7 intersected 10 feet
averaging 0.016 opt gold within a 370 foot interval of double
digit ppb gold and BMX-03-8 had double digit ppb gold throughout
the entire 500 foot hole.

These strongly anomalous assay results over a wide area may
indicate proximity to a major gold-bearing hydrothermal system
related to the Elder Creek Porphyry. The higher gold values are
concentrated on individual structures. The potential of the
adjacent pediment covered areas has been significantly enhanced
by the Phase I results. Follow-up drilling will use these results
to vector toward the more promising of these structural zones.

Nevada Pacific Gold also conducted an ongoing district
reconnaissance in the area surrounding the BMX project throughout
the fall and winter of 2003-4. This work has lead to the staking
of additional claims on the south end of the property. The new
ground lies on the structural extension of high-grade underground
values obtained from the Bluebird mine area. Surface rock-chip
values up to 0.625 opt gold and 17.17 opt silver were obtained
from the new claim group and the Bluebird area will be the focus
of drilling at BMX later in 2004.

Limousine Butte Gold Project - is a 100% owned property located
in White Pine County. A winter drill program was partially
completed prior to access being blocked by snow. Six holes,
totaling 2,980 feet, were completed testing three different
targets within the Resurrection Ridge area. All of the holes
encountered significant levels of gold and geochemistry analogous
to a highly mineralized hydrothermal system. Five of the six
holes contained gold values in excess of 1 ppm (0.03 opt). The
table below summarizes the results of this Phase 1 drill program:





-------------------------------------------------------------------
Hole ID Footage Interval Au opt As (ppm) Sb (ppm) Hg (ppm)
-------------------------------------------------------------------
-------------------------------------------------------------------
RR03-1(1) 290'-315' 25' 0.014 1245-2800 800-3110 20-37
-------------------------------------------------------------------
375'-530' 155' 0.061 319-7490 50-2390 3-142
-------------------------------------------------------------------
inc. 50' 0.162 1775-7490 830-2390 45-142
-------------------------------------------------------------------
inc. 20' 0.309 3680-4640 990-2390 59-142
-------------------------------------------------------------------
-------------------------------------------------------------------
RR03-2(1) 270'-465' 195' 0.050 353-6310 90-3640 23-1000
-------------------------------------------------------------------
inc. 50' 0.100 596-6310 578-3090 56-337
-------------------------------------------------------------------
inc. 30' 0.123 596-2730 578-3090 56-337
-------------------------------------------------------------------
-------------------------------------------------------------------
RR03-3 590-595 No Significant Values
-------------------------------------------------------------------
RR03-4 445-470 25' 0.038 2210 593 113
-------------------------------------------------------------------
Inc. 15' 0.054 2050 593 78
-------------------------------------------------------------------
RR03-5 200-285 85' 0.010 253-720 128-269 14-46
-------------------------------------------------------------------
inc. 5' 0.049 720 153 46
-------------------------------------------------------------------
-------------------------------------------------------------------
RR03-6 90-280 190' 0.017 338-804 813-2090 28-128
-------------------------------------------------------------------
inc. 65' 0.025 405-804 813-2090 28-59
-------------------------------------------------------------------
(1)assays previously released



...............


Drill holes RR03-01 through RR03-04 were designed to characterize
and extend the high-grade mineralization previously encountered
in LIM-46. The results in drill holes RR03-1 and RR03-2 did
confirm and extend this mineralization (see NPG Press Release
03-34) while holes RR03-3 and RR03-4 intersected narrower
intervals of lower grade gold, further defining the orientation
and size of both the lower-grade and the higher-grade
mineralization.

Drill hole RR03-5 tested a surface rock-chip anomaly 500 feet
north of drill hole LIM-46 where rock chip samples of the surface
jasperoid assayed 0.058 opt gold. Due to bad ground this drill
hole was terminated at 300 feet and did not reach the projected
down dip extension of the surface gold enriched jasperoid.
Drilling however did intersect 85 feet grading 0.010 opt gold
beginning at 200 feet, including a 5-foot intersection of 0.049
opt gold.

Drill hole RR03-6 targeted a zone of mineralization located west
of LIM-46, and intersected 190 feet grading 0.017 opt gold
beginning 90 feet below the collar.

The focus of the remaining holes will be to test the Resurrection
Ridge area as well as Cadillac Valley (located south of
Resurrection Ridge) where past wide-spaced, vertical holes have
encountered an extensive zone of anomalous gold mineralization.
The program in general is designed to augment the existing
(620,000 ounce) gold mineral inventory.

Buffalo Canyon Gold Project - is a 100% owned property located in
the Shoshone Range in Nye County and encompasses a bulk tonnage,
potentially open-pittable gold mineralized zone. As previously
reported, numerous historic drill holes intersected gold
mineralization from surface to over 200 feet grading +/- 0.02
oz/ton gold. Nevada Pacific recently outlined a new higher-grade
surface mineralized zone (see NPG Release 03-27) Sixty-five
surface rock chip samples were collected over a 1,500 ft by 600
ft area with 14 samples containing greater than 0.100 oz/ton gold
and 26 containing greater than 0.040 oz/ton gold. The highest
assay returned 0.492 oz/ton gold. Following permitting, a drill
program is planned for 2004.

Clover Valley Gold Project - is a 100% owned property located in
the Spruce Mountain Mining District of Elko County. The target
area for gold mineralization at the project is in the lower
portion of the Pilot Shale together with related fault structures
that is a proven host for multi-million ounce deposits.
Permitting will be initiated for a 2004 drill program to follow
up on recent geochemical and geophysical surveys where a new
geochemical target has been outlined by an 800 ft by 1,600 ft
gold in soil anomaly.

New Acquisitions:

Valmy Antler Project: Nevada Pacific Gold has acquired
approximately 2,080 acres in the Battle Mountain District through
the staking of 118 lode mining claims.

This property is positioned over a major gravity high suggesting
shallow depths to bedrock. Historic drilling data acquired by
Nevada Pacific confirmed the presence of Antler Sequence rocks at
shallow depths over a portion of the package. Antler Sequence
rocks are a preferred ore host at Newmont's nearby Lone Tree Mine
and Glamis Gold's Marigold Mine and Nevada Pacific Gold believes
that the overall gravity feature may represent a horst block of
this favorable lithologic unit. These two operations have a
combined gold endowment of at least 12 million ounces and both
mines have added significant reserves in 2003 and have active
exploration and development programs planned for 2004.

The Valmy Antler Project adjoins the Marigold claim package on
the east and north boundaries and covers both northeast and
north/south mineralized trends extending from the known ore
zones. Mineralization lies within about 1.5 miles of the eastern
boundary and 3 miles from the northern boundary. The project also
lies within Newmont's checker boarded private lands and is
adjacent to active lode mining claims that Newmont has held since
1986.

In 2004 Nevada Pacific Gold is planning an exploration program
that will include detailed survey grids, gravity work followed by
soil/gas geochemistry prior to drill targeting.

Mary's Mountain: Nevada Pacific Gold has acquired approximately
1,580 acres on the Carlin Trend through the staking of 82 lode
mining claims controlling 100% of the mineral rights without
underlying interests or encumbrances of any kind. The new land
package is surrounded by Newmont landholdings in the Maggie Creek
Mining District and lies within two miles of the 24 million ounce
Gold Quarry mine. The claims are nine miles due west of the town
of Carlin and cover portions of Mary's Mountain.

Several major southwest trending structures that are controls for
mineralization at the Gold Quarry Mine are projected onto the
Mary's Mountain claims. A major regional thrust fault passes
through portions of the property that has placed siliceous
western assemblage rocks over top of the younger Mary's Mountain
Sequence, which in turn overlies the productive Robert's Mountain
Formation.

Compilation of past exploration data indicates that strong gold
anomalies found on the surface are hosted within heavily iron
stained breccia and silicified rock chip samples that assay up to
1 ppm gold. The presence of Eocene (37 Ma) dikes related to the
Welches Canyon intrusive complex suggests a heat engine and
possible source for the surface mineralization.

The anomalous rock and soil samples cover wide areas of the
property and are found in both the upper and middle thrust
plates. Surface geochemistry is highly elevated in arsenic (to
greater than 1000 ppm) and mercury (to greater than 31 ppm) and
lesser antimony (to 430 ppm). The preferred target horizons lie
within the Mary's Mountain Sequence and the underlying Roberts
Mountain Formation, where structural intersections with these
favorable hosts may have formed significant high-grade gold
deposits.

Historic drilling has encountered significant intervals of
anomalous gold with individual 5 foot samples ranging up to 0.052
ounce per ton. The best composite drill intercept contains 20
feet grading 0.032 ounce gold per ton. To date the drilling has
been shallow, vertical and wide-spaced, leaving open the
possibility of discovering a near surface high-grade gold deposit
associated with the outcropping mineralization.

Curt Everson, P.Geol., M.Sc. is a Qualified Person as defined by
National Instrument 43-101 and is responsible for program design
and quality control of exploration undertaken by the Company.

Further updates of these projects complete with results and
current activities will be released in the coming weeks. A
description of these projects, including maps and photographs can
be viewed on the Company's website at: www.nevadapacificgold.com.


ON BEHALF OF NEVADA PACIFIC GOLD LTD.

Richard J. Barclay, CEO and Director

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Nevada Pacific Gold Ltd.
David Hottman
(604) 646-0188
(604) 646-0189 (FAX)
Website: www.nevadapacificgold.com
No securities regulatory authority or stock exchange has reviewed
or accepts responsibility for the adequacy or accuracy of this
release.

Nevada Pacific Completes Drill Targeting and Stakes
Additional Claims at Keystone Project

VANCOUVER, BRITISH COLUMBIA--Nevada Pacific Gold Ltd. (TSX
Venture Exchange - Symbol NPG) wishes to announce the completion
of targeting for a Phase I drill program at the Company's 100%
owned Keystone project. Following interpretation of new
geophysical survey data, prospecting and markedly increased
competitor activity in the area, the Company staked claims
covering an additional three square miles. This acquisition
brings the project total to seven square miles of prospective
ground over the Keystone tectonic window which is located to the
south of the Pipeline Mine/Cortez Joint Venture (CJV) on the
Battle Mountain Gold Trend and just 12 miles south of Placer
Dome's 10+ million ounce Cortez Hills, Pediment and ET Blue
discoveries in Nevada.

Gradient Geophysics, Inc. recently completed a tightly spaced 9.5
line mile gradient array IP survey covering an area measuring
5,000 feet by 3,280 feet and centered on the old Keystone
base-metal workings. A 33.4Ma intrusive that outcrops in the
center of the tectonic window was emplaced into lower-plate rocks
of the Nevada group, which are comprised of massive bedded and
silty limestones. The IP survey was specifically designed to
target the potential for massive sulfide replacement bodies along
the intrusive contact and results confirm the presence of at
least four discrete anomalies. One of these anomalies is
coincident with known surface occurrences of high-grade massive
sulphide float.

Previously announced mapping and rock-chip sampling of this
high-grade base and precious metal mineralization is summarized
below:




------------------------------------------------------------------------
Sample # Cu% Zn% Pb% Ag-opt
------------------------------------------------------------------------
KS-1 5.8 3.2 3.6 13.1
------------------------------------------------------------------------
KS-2 4.6 16.0 6.5 10.4
------------------------------------------------------------------------
KS-3 10.3 25.2 21.8 23.8
------------------------------------------------------------------------
KS-4 2.6 11.6 17.6 23.8
------------------------------------------------------------------------
KS-5 4.1 7.4 6.4 11.3
------------------------------------------------------------------------



......................



In addition to the ground-based geophysics, 479 line miles of
high-resolution aeromagnetic data was also acquired from the area
around the lower plate window. This information provided a
regional view of the adjacent lands and has allowed Nevada
Pacific personnel to better interpret the geology under shallow
cover. Surface reconnaissance over some of the magnetic anomalies
confirmed jasperoid and altered sedimentary float in areas that
are covered by young volcanics. This is consistent with the air
magnetic interpretation that some of the volcanic cover forms
only a thin skin over altered sedimentary bedrock.

The new geologic interpretations resulting from these geophysical
surveys prompted Nevada Pacific to acquire an additional three
square miles of prospective ground. These new claims have
extended the area of this potential contact-style of
mineralization to cover 20,000 feet along the intrusive contact.
Claims have also been staked to cover the area sourcing the
altered float.

The Keystone project exhibits strong potential for both base and
precious metal mineralization related to the Keystone tectonic
window. Mineralized prospects occur in both upper and lower plate
rock and may be related to the emplacement of the stock. Though
the window is under-explored, limited historical drilling does
indicate Carlin-style gold mineralization. The presence of
receptive host rocks in the lower plate and an intrusive to drive
the system provides a classic setting for the development of
large disseminated deposits.

Drilling is expected to commence this summer over targets
identified as a result of both geophysical and geochemical
programs. In addition to this drill program, target definition
work will be initiated over the newly staked portions of the
property package. This work will include mapping, rock chip
sampling and soil gas surveys.

Curt Everson, P.Geol., M.Sc., is a Qualified Person as defined by
National Instrument 43-101 and is responsible for program design
and quality control of exploration undertaken by the Company.

Nevada Pacific Gold Ltd. was founded in March 1997. The Company's
property portfolio contains the Magistral Gold Mine in Mexico and
an exploration property portfolio covering approximately 60
square miles of mineral rights including portions of two
significant gold producing belts in the State of Nevada. The
Company's BMX project is optioned to Placer Dome. A description
of these projects, including maps and photographs can be viewed
on the Company's website at: www.nevadapacificgold.com.

ON BEHALF OF NEVADA PACIFIC GOLD LTD.

Richard J. Barclay, CEO and Director

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Nevada Pacific Gold Ltd.
David Hottman
(604) 646-0188
(604) 646-0189 (FAX)
Website: www.nevadapacificgold.com
No securities regulatory authority or stock exchange has reviewed
or accepts responsibility for the adequacy or accuracy of this
news release.

SHARE STRUCTURE:

Wed Jan 28, 2004
Share Capital

---------------



Issued 33,393,855
Warrants @ $0.65 649,998
Warrants @ $0.45 2,758,801
Warrants @ $1.35 3,531,875
Options @ $0.30-$0.65 2,255,000
----------
Fully Diluted 44,589,529

--------

Cash on Hand $10.0 million