Nevada Gold Announces New Development Opportunity - Thursday 12th of May 2005

Nevada Gold & Casinos, Inc. (AMEX:UWN) today announced that it has acquired, through its subsidiary, Nevada Gold BVR, LLC, a 20% interest in Buena Vista Development Company, LLC ("Buena Vista Development"). Buena Vista Development has entered into a Development Agreement with the Buena Vista Rancheria of Me-Wuk Indians for the development of a casino on the Tribe's tribal lands. The casino, located near Buena Vista, Amador County, California, will draw customers from the Sacramento and Stockton areas.

The project will consist of a multi-level casino designed to accommodate approximately 2,000 slot machines and 80 gaming tables, restaurant and dining facilities, retail outlets, guest support services and a 3,500 to 4,000 space multi-level parking garage. Casino Development & Management Company, LLC is the 80% owner and manager of Buena Vista Development. Tom Wilmot, Sr., a principal of Casino Development & Management Company, LLC, stated, "We are happy to have a quality partner like Nevada Gold join this project.

Their experience and successful track record with other Native American projects was important to us as we sought a partner." H. Thomas Winn, Chairman, President and CEO of Nevada Gold & Casinos, Inc., commented, "We are very excited to be involved and believe the project has potential similar to other Sacramento area projects." Buena Vista Development and the Tribe are proceeding with design, development and architectural plans for the project so that construction can begin as soon as possible after final regulatory approvals are received. Nevada Gold has filed with the Securities and Exchange Commission a Current Report on Form 8-K filed May 5, 2005, relating to the acquisition of the interest in Buena Vista Development.

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