Kohn takes finance role at Nevada Gold

Nevada Gold has announced that James J. Kohn has been appointed Chief Financial Officer, effective October 23, 2006. Mr. Kohn replaces Alan Greenstein who has accepted a senior level finance position at another gaming company.

Mr. Kohn, a Certified Public Account since 1982, was most recently Chief Financial Officer of Motor City Casino, a 75,000 square foot casino in Detroit, Michigan. Prior to that, he was the Corporate Director, Internal Audit for Penn National Gaming, a multi-jurisdictional owner and operator of gaming properties, including casinos, racetracks and off-track wagering facilities. He was previously Corporate Director of Financial Analysis of Penn National, and also had various financial roles at CRC Holdings, a wholly owned subsidiary operating racetracks and servicing riverboat and land-based casino entertainment facilities. Mr. Kohn also served as Vice President and Chief Financial Officer of Sands Hotel and Casino in San Juan, Puerto Rico, and before that he held several senior level positions in the financial services industry.

Mr. Robert B. Sturges, Chief Executive Officer of Nevada Gold, commented, “James brings more than 25 years of financial experience to Nevada Gold including several years at Carnival, where John Arnesen and I had the chance to work with him, and we are truly pleased to welcome someone with his knowledge and experience to our team. His financial management expertise and familiarity with all aspects of gaming operations should serve us well as we manage our existing projects and pursue new opportunities going forward.”

Mr. Sturges concluded, “We are very grateful to Alan for his contributions to the company and wish him well in his new role. We also appreciate that Mr. Greenstein has agreed to work with Mr. Kohn through a transition period concluding November 17, 2006.”