MINE DEVELOPMENT ASSOCIATES MINE ENGINEERING SERVICES Technical Report on the Surselva Project Graubunden Canton, Switzerland Prepared for NV Gold Corporation Report Date: November 14, 2014 Effective Date: November 1, 2014 Michael M. Gustin, C.P.G. Odin Christensen, C.P.G. 775-856-5700 210 South Rock Blvd. Reno, Nevada 89502 FAX: 775-856-6053 Technical Report on the Surselva Project, Switzerland NV Gold Corporation Page 2 C ONTENTS 1.0 SUMMARY .................................................................................................................................... 1 1.1 Property Description and Ownership ................................................................................... 1 1.2 Exploration and Mining History .......................................................................................... 1 1.3 Geology and Mineralization ................................................................................................. 2 1.4 Metallurgical Testing and Mineral Processing .................................................................... 3 1.5 Mineral Resource and Reserve Estimates ............................................................................ 3 1.6 Conclusions and Recommendations .................................................................................... 3 2.0 INTRODUCTION AND TERMS OF REFERENCE ..................................................................... 5 2.1 Project Scope and Terms of Reference ................................................................................ 5 2.2 Frequently Used Acronyms, Abbreviations, Definitions, and Units of Measure ................ 6 3.0 RELIANCE ON OTHER EXPERTS .............................................................................................. 8 4.0 PROPERTY DESCRIPTION AND LOCATION ........................................................................... 9 4.1 Location ................................................................................................................................ 9 4.2 Land Area ............................................................................................................................. 9 4.3 Agreements and Encumbrances ......................................................................................... 11 4.4 Environmental Liabilities and Permitting .......................................................................... 12 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND PHYSIOGRAPHY ........................................................................................................................ 13 5.1 Access to Property .............................................................................................................. 13 5.2 Climate ............................................................................................................................... 13 5.3 Physiography ...................................................................................................................... 15 5.4 Local Resources and Infrastructure .................................................................................... 16 6.0 HISTORY ...................................................................................................................................... 17 6.1 Exploration History ............................................................................................................ 18 6.2 Summary of Historic Drilling Results ................................................................................ 22 6.3 Historic Mineral Inventory Estimates ................................................................................ 30 7.0 GEOLOGIC SETTING AND MINERALIZATION .................................................................... 31 7.1 Geologic Setting ................................................................................................................. 31 7.1.1 Regional Geology .................................................................................................. 31 7.1.2 Local Geology ....................................................................................................... 34 7.1.3 Property Geology ................................................................................................... 36 7.2 Mineralization .................................................................................................................... 38 7.2.1 Tavetsch Belt ......................................................................................................... 41 7.2.2 Gotthard Massif ..................................................................................................... 45 8.0 DEPOSIT TYPE ............................................................................................................................ 48 Mine Development Associates P:\Surselva\43-101\Surselva_43-101_2014_v28.docx November 5, 2014 Print Date: 11/18/14 2:10 PM Technical Report on the Surselva Project, Switzerland NV Gold Corporation Page 3 9.0 EXPLORATION ........................................................................................................................... 49 9.1 Introduction ........................................................................................................................ 49 9.2 Summary of the 2011 NV Gold Exploration Program ....................................................... 49 9.2.1 Rock Sampling ...................................................................................................... 50 9.2.2 Soil Sampling ........................................................................................................ 52 9.3 Summary of the 2013 NV Gold Exploration Program ....................................................... 54 10.0 DRILLING .................................................................................................................................... 55 10.1 Summary ............................................................................................................................ 55 10.2 Drilling by the Narex-Micham Joint Venture .................................................................... 56 10.3 Drilling by International Micham Resources Inc. .............................................................. 57 10.4 Drill-Hole Collar Surveys .................................................................................................. 57 10.5 Down-Hole Surveys ........................................................................................................... 57 11.0 SAMPLE PREPARATION, ANALYSIS, AND SECURITY ...................................................... 58 11.1 Sampling by Narex-Micham Joint Venture ....................................................................... 58 11.2 Sampling by International Micham Resources Inc. ........................................................... 58 11.3 Sampling by MinAlp .......................................................................................................... 59 11.4 Sampling by NV Gold ........................................................................................................ 59 11.4.1 Soil Geochemical Sampling .................................................................................. 59 11.4.2 Rock-Chip Geochemical Sampling ....................................................................... 60 11.5 Quality Assurance/Quality Control .................................................................................... 61 12.0 DATA VERIFICATION ............................................................................................................... 62 12.1 Project Database ................................................................................................................. 62 12.2 MDA Independent Verification of Mineralization ............................................................ 64 12.3 Independent Sampling by Derosier .................................................................................... 64 13.0 MINERAL PROCESSING AND METALLURGICAL TESTING ............................................. 65 14.0 MINERAL RESOURCE AND RESERVE ESTIMATES ............................................................ 66 15.0 ADJACENT PROPERTIES .......................................................................................................... 67 16.0 OTHER RELEVANT DATA AND INFORMATION ................................................................. 68 17.0 INTERPRETATION AND CONCLUSIONS .............................................................................. 69 18.0 RECOMMENDATIONS .............................................................................................................. 70 19.0 REFERENCES .............................................................................................................................. 71 20.0 DATE AND SIGNATURE PAGE ................................................................................................ 74 21.0 CERTIFICATE OF AUTHOR ...................................................................................................... 75 Mine Development Associates P:\Surselva\43-101\Surselva_43-101_2014_v28.docx November 5, 2014 Print Date: 11/18/14 2:10 PM Technical Report on the Surselva Project, Switzerland NV Gold Corporation Page 4 T ABLES Table 5.1 Weather Data for Disentis .....................................................................................................