Where to Gamble

Nevada Gold and Casino Releases 4th Quarter and Annual Revenues

Nevada Gold and Casinos, Inc, today announced financial results for the fourth quarter and fiscal year ending April 30th, 2006.

The fourth quarter of fiscal 2006, net revenues increased to $3.2 million compared to $2.0 million in the fourth quarter ended March 31, 2005. The net loss for the fourth quarter fiscal 2006 was $1.7 million compared to net income of $0.5 million in the fourth quarter of fiscal 2005. The net loss per diluted common share was $0.13, compared to net income per diluted common share of $0.04 in the prior year period.

H. Thomas Winn, Chairman and CEO of Nevada Gold and Casinos, Inc., commented, "After carefully evaluating every aspect of our business, was elected to take selective steps designed to enable us to focus on those opportunities most likely to enhance our operating performance over the long term. While our quarterly financial results were negatively impacted by these write-offs, we believe that we are now better positioned to execute our growth strategies and continue our transition to an operational business model. We believe our strong senior management team and solid pipeline of projects will contribute to our success in fiscal 2007 and beyond."

The Company will discuss fourth quarter financial results via the earnings conference call to be held at 5:00 ET today via the internet at www.nevadagold.com