Nevada Gold Holdings Inc. Appoints Dave Mathewson as CEO, President and Chief Geologist

Nevada Gold Holdings Inc. Appoints Dave Mathewson as CEO, President and Chief Geologist

Nevada Gold Holdings, Inc., a mineral exploration company focused on identifying and developing large-scale gold deposits in Nevada, is pleased to announce that at the end of 2008, Dave Mathewson was appointed as CEO, President and Chief Geologist of the Company.

Dave Mathewson is well known in the Nevada gold community. He has been an exploration geologist for over 35 years and has spent the last 20 years focusing in Nevada. Mr. Mathewson is one of a handful of successful geologists in Nevada who has consistently found large commercial gold discoveries. One of his biggest successes was as head of Newmont Mining’s Great Basin and Carlin Trend exploration programs. During a 12-year period of time with Newmont, Mr. Mathewson and his teams were directly responsible for the discovery and expansion of more than 25 million ounces of gold. Prior to Nevada Gold, his junior public company experience was as Head Geologist and Vice President of Exploration with Tone Resources, which traded on the Toronto Venture Exchange and was acquired by US Gold.

Mr. Mathewson has often made contrarian bets based on his vast knowledge of North Central Nevada geology and gone against popular belief to explore where no one else has been interested. Such risks have paid off greatly during his career. Mr. Mathewson discovered approximately five million ounces of gold in the Rain district of Nevada among four separate deposits. Mr. Mathewson also led Newmont’s Great Basin exploration team which was responsible for the discovery of the three to five million ounce Peninsula gold-bearing gravel deposit south of Battle Mountain. As Manager of Exploration for Newmont on the Carlin Trend, the exploration team discovered significant extensions of gold mineralization at Newmont’s Gold Quarry mine and Mike deposit, comprising an additional probable 10 to 15 million ounces. During his tenure with Newmont Mining, Mr. Mathewson was involved with and drove the process of numerous acquisitions, many of which led later to discovery of gold deposits.

“I am very excited to take on this endeavor,” said Mr. Mathewson. “My goal is to build a portfolio of exploration properties with world class gold deposits, developing the Company into a prestigious exploration company. I believe these efforts will enhance value for our shareholders.”

Carl Pescio of Allied Nevada Gold has personally known Dave Mathewson for many years. The two have collaborated together on various projects in the past. Mr. Pescio said, “I hold Dave’s geological capabilities in high regard, and I believe Dave Mathewson is one of the best geologists an exploration company can have for Nevada.”

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