Nevgold Resource Corp. Obtains Securityholder Approval for Proposed Merger

Nevgold Resource Corp. ("Nevgold") (TSX VENTURE:NDG) is pleased to announce that
its securityholders have approved the proposed plan of arrangement (the
"Arrangement") involving Nevgold, its securityholders and Silver Predator Corp.
("Silver Predator") (TSX:SPD) pursuant to which Silver Predator will acquire all
of the outstanding securities of Nevgold (the "Proposed Transaction"). At the
special meeting of securityholders of Nevgold held today, (i) 99.4% of the votes
cast by Nevgold shareholders, Nevgold optionholders and Nevgold warrantholders,
voting together as one class, (ii) 99.3% of the votes cast by Nevgold
shareholders and (iii) 98.6% of the votes cast by Nevgold shareholders (other
than Nathan Tewalt and Thomas Chadwick) were in favour of the Arrangement. In
addition, securityholders approved a reduction of stated capital of common
shares of Nevgold.


Upon the completion of the Proposed Transaction, Nevgold will be a wholly-owned
subsidiary of Silver Predator, and the former shareholders of Nevgold will own
approximately 18.8% of the issued and outstanding common shares of Silver
Predator. A description of the principal terms of the Proposed Transaction may
be found in the notice of meeting and information circular mailed to
securityholders of Nevgold in January 2012 and in the amended and restated
arrangement agreement dated effective January 10, 2012 between Nevgold and
Silver Predator in respect of the Proposed Transaction, each of which may be
found under the SEDAR profile of Nevgold at www.sedar.com.


The Proposed Transaction is to be completed by way of a statutory arrangement
and is subject to customary closing conditions, including, among other things,
the final approval of the Toronto Stock Exchange, the TSX Venture Exchange and
the British Columbia Supreme Court. It is anticipated that the application for
the final order of the British Columbia Supreme Court in respect of the
Arrangement will be made on February 24, 2012 and that the Proposed Transaction
will be completed effective February 28, 2012.


Nevgold expects that the final day of trading in the common shares of Nevgold on
the TSX Venture Exchange will be Wednesday, February 22, 2012 and that,
thereafter, trading will be halted until the completion of the Proposed
Transaction and the subsequent delisting of the common shares from the TSX
Venture Exchange.


None of the securities anticipated to be issued under the Proposed Transaction
have been or will be registered under the United States Securities Act of 1933,
as amended, (the "Securities Act") or any state securities laws, and such
securities are anticipated to be issued in the United States pursuant to
exemptions from such registration requirements. This press release shall not
constitute an offer to sell or solicitation of an offer to buy any securities in
any jurisdiction where such an offer or sale would be unlawful. Neither the US
Securities and Exchange Commission nor any US state securities commission has
approved of the securities to be issued under the Proposed Transaction or
determined if this document is accurate or complete. Any representation to the
contrary is a criminal offence in the United States. The securities to be issued
under the Proposed Transaction are intended to be issued in reliance upon the
exemption from the registration requirements of the Securities Act provided by
Section 3(a)(10) thereof and only to the extent that corresponding exemptions
from the registration or qualification requirements of state "blue sky"
securities laws are available. The securities to be issued under the Proposed
Transaction may not be offered or sold in the United States except pursuant to
an exemption from the Securities Act or in a transaction not subject to the
registration requirements of the Securities Act.


Forward-Looking Statements

This news release contains certain forward-looking information and statements
with the meaning of applicable Canadian and United States securities laws. The
use of any of the words "expect", "anticipate", "continue", "estimate",
"objective", "confident", "might", "proposed" and similar expressions are
intended to identify forward-looking information or statements. In particular,
but without limiting the foregoing, this news release contains forward-looking
information and statements pertaining to the Proposed Transaction and the
proposed terms and timing thereof.


The forward-looking information and statements included in this news release are
not guarantees of future performance and should not be unduly relied upon.
Forward-looking statements are based on current expectations, estimates and
projections that involve a number of risks and uncertainties, which could cause
actual results to differ materially from those anticipated and described in the
forward-looking statements. Such information and statements involve known and
unknown risks, uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such forward-looking
information or statements. These include, but are not limited to, risks
associated with fluctuations in the market price of the Silver Predator or
Nevgold's common shares, commodity price and exchange rate fluctuations and
uncertainties and risks relating to the outcome of the Proposed Transaction on
the market price, marketability and liquidity of Silver Predator or Nevgold's
common shares risks associated with exploration, development and production and
other risks and uncertainties described herein and in the disclosure documents
of Silver Predator and Nevgold filed on the SEDAR website at www.sedar.com. All
forward-looking statements are based on various assumptions including, without
limitation, the presence of and continuity of minerals and metals at a project
at modeled grades, the availability of equipment, exchange rates and the
continued availability of financing. Although management considers these
assumptions to be reasonable based on information currently available to it,
they may prove to be incorrect. 


The forgoing list of assumptions, risks and uncertainties is not exhaustive. The
forward-looking information and statements contained in this news release speak
only as of the date of this news release, and Nevgold assumes no obligation to
update publicly or revise any forward-looking information or statements, whether
as a result of new information, future events or otherwise, unless so required
by applicable securities laws.
Nevgold Resource Corp. (TSXV:NDG)
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