if anyone ever wanted a green light...i'd say it's the CEO plunking down another 350k to add to his already large position...and at .50 to boot. Add to the fact he gets paid $1/year, i'd say we won't be waiting long for the show to start

VAN HOOF INDUSTRIAL HOLDINGS LTD. ACQUIRES 700,000 SHARES OF NSGOLD CORPORATION UPON EXERCISE OF WARRANTS

VANCOUVER, May 17 /CNW/ - Van Hoof Industrial Holdings Ltd. of Tortola, British Virgin Islands announces that on May 16th, 2011, it acquired ownership of, and control and direction over, 700,000 common shares of NSGold Corporation (TSXV: NSX) at a price of C$0.50 per share, for total consideration of C$350,000, upon the exercise by Van Hoof Industrial Holdings Ltd. of 700,000 common share purchase warrants.

The 700,000 common shares acquired by Van Hoof Industrial Holdings Ltd. represent 2.14% of the 32,712,277 common shares of NSGold Corporation now issued and outstanding.

Following the exercise of the warrants, Van Hoof Industrial Holdings Ltd. owns and controls 10,833,100 common shares of NSGold Corporation, representing 33.12% of the 32,712,277 issued and outstanding common shares of NSGold, and does not own or control any common share purchase warrants of NSGold Corporation.

Van Hoof Industrial Holdings Ltd. is a private company controlled by Johannes H.C. van Hoof, Chairman and a director of NSGold Corporation.

Van Hoof Industrial Holdings Ltd. acquired the shares of NSGold Corporation described herein for investment purposes, and may from time to time acquire ownership of, or control or direction over, additional securities of NSGold Corporation for investment purposes.