The Mooseland gold property is the Company’s most advanced project at the moment. In June of 2011, NSGold received an NI 43-101 resource estimate for the property of 390,000 ounces of gold in the inferred category. No indicated or measured mineral resources were identified, primarily because the drilling intercept spacing was not sufficient to establish grade continuity to the levels required by those categories.

This resource estimate, prepared by MineTech International, was based on drill core assay results from 26 holes, totaling 6,507 metres completed by NSGold in 2010; 135 diamond drill holes, totaling 32,696 metres, completed by Hecla Mining in 1986-1988; and 6 diamond drill holes, totaling 1,168 metres, completed by Azure Resources Ltd. in 2003.

Additionally, the report also showed that the West Zone was open at depth and towards the west and that the East Zone was also open at depth and towards the east. This gave room for resource expansion.

As a result, NSGold initiated a second drill campaign late 2011, totaling 5,020 metres, to test promising areas of Mooseland that had only been sparsely drilled or explored in the past.

Fifteen holes intersected mineralized veins and produced a total of 135 samples that assayed more than 1 gram per tonne of gold of which 17 assayed over 10 grams per tonne. Based on these results, it’s clear that the resource will be increased.

MineTech has again been retained to produce an updated resource estimate for Mooseland, which will of course include all the results from the 2011 drillings.

Next to Mooseland, NSGold also acquired a 100% interest in five other properties in Nova Scotia in April of 2010. These properties are Leipsigate, Indian PathIndian Path, Blockhouse, French Village and Cheticamp. The first three are former gold-producing properties, each characterized by Meguma-type gold occurrences, while the latter two are gold and base-metal exploration properties.

And in November of 2010 the Company staked 5,000 hectares known as Barney’s River and James River. The area staked, covers the surface exposure of a Peralkaline Syenite, a coarse-grained intrusive igneous rock of the same general composition as granite. This is a rock type that has elsewhere been found to contain commercially viable Rare Earth Elements (REE’s) deposits.