Correcting...RETRANSMISSION: Nelson Gold Concludes First Gold Sale, Resumes Operations at ZGC, Appoints Chief Operating Officer.

LONDON--(BUSINESS WIRE)--Dec. 5, 1996--Nelson Gold Corp. Limited (TSE: NLG) today announced that 12,700 ounces of gold bullion has been successfully exported and sold.

The proceeds have been deposited in the Zeravshan Gold Company's (ZGC) offshore bank account. It is anticipated that a further shipment of gold bullion will occur before the end of December 1996. The Company is pleased to report that mining and milling operations at ZGC recommenced on Dec. 3, 1996. Gold production for 1996 is forecast at approximately 30,000 ounces.

The Company is also pleased to announce the appointment of Roy Meade as Chief Operating Officer. Mr. Meade will be mainly responsible for the Company's operations in Central Asia. Mr. Meade has had a distinguished career with 23 years' experience in the mining industry. He was previously President of an international management consultancy group focused on the mining sector. Prior to that he spent 17 years with Anglovaal Limited (South Africa) where he held executive and senior managerial operating positions.

Nelson Gold is a gold mining and exploration company with its operations in Central Asia. The Jilau and Taror gold deposits which are under development by the Company have a combined total resource of 6.7 million ounces. Production from the Jilau deposit commenced in the first quarter 1996. A total resource base including regional targets in the Zeravshan Valley and a further two exploration joint ventures in the Republic of Kyrgyzstan is estimated to be in the region of 14.4 million ounces. Common shares of the Company trade on the Toronto Stock Exchange under the symbol NLG.

CONTACT: Nelson Gold Corporation Limited

Andrew J. King, 011/44-171-584-0050

or

Hume, Kieran Inc.

Cathy Hume, 416/868-1079