EXHIBIT 10.1

                                OPTION AGREEMENT

This Option Agreement dated August 8, 2012 by and between Development Resources
LLC, (hereinafter "DEVELOPMENT RESOURCES") a Utah LLC, and Nevada Gold Corp.
(hereinafter "NEVADA GOLD"), a Delaware corporation, wherein both companies are
also known as the "PARTIES", wherein the Parties agree to the following:

WHEREAS:

A. Development Resources has located and controls approximately 40,000 acres of
prime mineral lease properties all located in the Long Canyon Gold Trend in
north east Nevada for the purpose of exploration for gold, silver and other
mineralization deposits.

B. Nevada Gold desires to acquire an interest in four sections (2,560 acres),
consisting of approximately 120 BLM Mineral Lease Claims from Development
Resources to participate in the exploration and development of the potential
gold, silver and other mineral deposits in the Property. See Schedule 'A'
property map (the "Property").

C. Property Description

     1)   The  Development  Resources BLM mineral lease claims group for a total
          of 120 Claims  located on Sections  5, 6, 7 and 8 in Township  33N and
          Range 64E with Meridian MDR&M

     2)   Development  Resources  also herein  allows Nevada Gold an `option' to
          acquire a similar interest in and to an additional 4 sections of 2,560
          acres of  approximately  120 claims held by Development  Resources all
          located  adjacent to and adjoining  the first 4 sections  listed in #1
          above for a period of one year from the execution of this Agreement.

D.  Development  Resources  confirms that all  references  in this  Agreement to
retained  interest in the Property mean the net proceeds  actually paid from the
sale of minerals  mined and removed from the  Property,  after  deduction of the
following:

     (i)  smelting costs,  treatment  charges and penalties  including,  but not
          being limited to, metal losses,  penalties for  impurities and charges
          for refining,  selling and handling by the smelter,  refinery or other
          purchaser;  provided,  however,  in the case of leaching operations or
          other solution  mining or  beneficiation  techniques,  where the metal
          being treated is precipitated or otherwise  directly derived from such
          leach  solution,  all  processing  and recovery  costs incurred by the
          Nevada Gold,  beyond the point at which the metal being  treated is in
          solution, shall be considered as treatment charges;

     (ii) costs of handling,  transporting and insuring ores, minerals and other
          materials or  concentrates  from the Property or from a  concentrator,
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          whether  situated on or off the  Property,  to a smelter,  refinery or
          other place of treatment; and

     (iii)ad  valorem  taxes and taxes  based  upon  production,  but not income
          taxes.

THEREFORE in consideration of the mutual covenants and agreements in this
Agreement, the parties agree as follows:

A. GRANT OF OPTION

     1)   On August 12th  Nevada  Gold shall  notify  Development  Resources  of
          Nevada  Gold's  intent to `Exercise The Option' to secure the interest
          in the Property or to discontinue  `The Option' and  relinquish  their
          rights to exercise  `The Option' to secure the  described  interest in
          the Property.

     2)   In the event Nevada Gold  determines  to `Exercise  The Option' a cash
          payment  to  Development   Resources  of  $47,400  shall  be  made  to
          Development  Resources  no later than August  14th,  2012 for the full
          county,  state and BLM fees to keep the Property in good standing with
          all  agencies by the required  filing date of September 1, 2012.  This
          payment  will keep the  Property of these first four  sections in good
          standing  with all  agencies  until  September  1,  2013.  Development
          resources shall itemize such required payments and provide receipts.

     3)   Upon the  `Exercise  of The Option' on August  12th 2012,  Nevada Gold
          will issue cash payments and shares of its common stock to Development
          Resources  and  a  work  commitment  under  the  following  terms  and
          conditions:

          3.1) Nevada Gold will provide to Development  Resources a payment,  on
               terms,  of  $125,000  USD  cash  to be  issued,  as  directed  by
               Development Resources, for a 51% controlling interest acquisition
               in and to Sections 5, 6, 7 and 8 properties as follows:

               a)   $25,000 by September 15th 2012.
               b)   $25,000 by October 15th 2012
               c)   $75,000 by November 15th 2012

          3.2) In  addition,  Nevada  Gold will issue to  Development  Resources
               three million  (3,000,000)  shares of its restricted common stock
               as  directed  by  Development   Resources  for  this  acquisition
               interest.  These  shares shall be  distributed  by Nevada Gold to
               Development Resources as directed by Development Resources within
               60 days of `Exercising The Option' or not later than October 10th
               2012.

          3.3) Upon the full payment of cash and the full  distribution of these
               shares on the above timetable schedule,  Nevada Gold will receive

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               the full 51%  interest  free and clear in and to Sections 5, 6, 7
               and 8 of the Property from Development  Resources and Development
               Resources  will own a 49% interest in the  Property.  Nevada Gold
               shall  have  the  'right'  to  register  it's  interest  at  it's
               discretion.

          3.4) Nevada Gold will also have the right to increase this interest to
               an 80% interest by performing a 'work commitment' as specified in
               Section B below.

B. WORK COMMITMENT AND INCREASE IN INTEREST OWNERSHIP

     1)   Nevada Gold agrees that  Development  Resources  shall be in charge of
          `all exploration programs' conducted on the Property at all times on a
          'commercially  acceptable basis' during the required 'work commitment'
          phase. Nevada Gold shall become the operator after the work commitment
          payments  have  been  completed  on  the  Property  to  both  Parties'
          satisfaction.

     2)   Additional funds,  other than the `cash  acquisitions  funds' previous
          described,  will be provided by Nevada Gold to  Development  Resources
          for the initial  exploration  evaluations,  a geological 43-101 report
          and the first phase drilling funds specified as following:

          2.1  Nevada Gold shall  provide to  Development  Resources a cash work
               commitment for the exploration of the Property. Nevada Gold shall
               pay to Development Resources $200,000 against an agreed to budget
               within the first 180 days of  `Exercising  The  Option',  for the
               Phase One Exploration Program on Sections 5, 6,7 and 8.

          2.2  This work program will provide for the collection of surface rock
               chip samples,  sediment stream samples,  mapping,  IP/resistivity
               testing and assay programs and any other  geological  programs to
               provide  an  initial  Geological  Report of the  Property  and to
               define potential drill targets on the Property.  These funds will
               also provide for a qualified 43-101 report on the Property.

          2.3  Nevada  Gold has the  option to make this  payment  in advance of
               this180  day  period to  perform  this  work to  provide a 43-101
               Report for Nevada Gold.

          2.4  In addition, Nevada Gold agrees to pay to Development Resources a
               minimum of  $1,000,000  against an agreed to budget for the Phase
               Two  Exploration  program for drilling on the drill targets to be
               defined in the Phase One Exploration Report. This Phase Two Drill
               Program can only begin after the Phase One Exploration Program is
               completed.  The Exploration  work  commitment  schedule and costs
               will be outlined in a separate report.

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     3)   Upon the full `work commitment  payments' of $1,200,000,  the interest
          to Nevada Gold in these first four  sections  will  increase to an 80%
          interest with  Development  Resources  holding the 20% interest in the
          Property at all times.

     4)   The  Parties  agree  that  upon  successful  drill  report  assays  of
          acceptable gold,  silver and base metal  mineralization  values on the
          Property,   additional   funds  will  be,  for  the  further  drilling
          exploration and development of the Property.

     5)   In a future  option  agreement,  Nevada Gold can acquire a similar 51%
          interest in and to 4 additional  sections from  Development  Resources
          all located  adjoining to the first 4 sections acquired by Nevada Gold
          on  Spruce  Ridge.  This  interest  can  also be  increased  to an 80%
          interest with a work commitment on the property.  A similar  agreement
          as to #1 - #4 in item (D) herein as to a cash payment, shares of stock
          and a work commitment under mutual agreement between the Parties shall
          be arranged at a future date.

C. FIELD OPERATIONS

Subject  to E-1 the  Parties  agree  that  Development  Resources  shall  be the
controlling  operator  for  all  exploration  work to be  contracted  for on the
Property at all times. Development Resources will submit to Nevada Gold all data
for such  exploration  programs  and costs on a  reasonable  timetable  for such
reports.  All samples  collected in the Phase One Exploration  Program and Phase
One Drill  Program will be submitted to the  ALS/Chemex  Labs in Elko Nevada for
qualified tests.

D. CLAIM MAINTENANCE FEES

Nevada Gold shall be  responsible  for all of the payments  required to keep the
Property in good standing with all agencies.

The first fees will be due and payable by Nevada Gold to  Development  Resources
by August 14th 2012 and estimated to be $47,400.  This is an approximate  figure
as the State of Nevada fees may change by the fall of 2012.

Development  Resources  shall  be  responsible  to  provide  to  Nevada  Gold an
expenditure  budget on a timely  basis for the  expected  costs to maintain  the
Property in good standing with all agencies at all times.

E. 20% DEVELOPMENT RESOURCES MAINTAINED INTERESTS

Development  Resources  shall hold a 20%  interest in the  Property at all times
after Nevada Gold has completed its work  commitment  outlined in Section B. The
Parties  agree that Nevada Gold shall have a `first right of refusal' to acquire
some or all of this  `Interest'  under terms and  conditions  acceptable to both
Parties.

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F. THIRD PARTY INTERESTS

The Parties agree that the interest rights each Partly holds in the Property can
be sold, assigned,  transferred or conveyed in whole or in part to any bona fide
third party as long as both Parties agree to such transfer. Each or either Party
to this  Option  Agreement  shall have `first  right of refusal'  for 12 days to
acquire this  interest  prior to the  transfer or sale of `any  interest' to any
`third party'.

Each or either Party to this Option  Agreement must be informed as to all of the
details  for such a transfer  and agree in  writing  to such a  transfer  to any
`third party' for the transfer of `any interest' in the Property.

Each Party will have the express right to negotiate for their interest  transfer
to the same third party or to any `other third party'  potential  acquisition in
the event the  transferring  Party receives a `clearance'  and written denial of
their `First Rights' to acquire this  `interest'  from the `other Party' to this
Option Agreement prior to any transfer.

G. FIRST RIGHT FOR TRANSFER OF INTERESTS

In the event either Party  desires to sell their held  interest in the Property,
the other Party shall have `first right of refusal' to acquire this  interest on
terms and conditions  agreeable  between the Parties prior to the interest being
offered to third parties.

H. FEASIBILITY STUDY COSTS

In the event the  property  values  from  exploration  work  define a  potential
mineable  ore body  which will  require a major  `feasibility  study'  including
environmental studies, the Parties agree it shall be the responsibility of

Nevada  Gold  to pay for  all of the  costs  of such  studies  to  perfect  this
`feasibility  study' to define a mining  plan.  It is also  agreed  between  the
Parties  that both  Parties  shall have full access to all data and  information
supplied by such `feasibility study' at all times.

I. MUTUAL INTEREST

Both Parties agree to work together in a `mutual  interest' for the  exploration
and  development  of these  mineral lease claims for the benefit of both Parties
and agree to complete  and  deliver  all  documents  and  agreements  reasonably
necessary to complete same.

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J. PUBLIC DISCLOSURE

The Parties shall advise each other, in advance, of any public statement,  which
is proposed  to be made in respect to any  transaction,  provided  that no Party
shall be prevented from making any disclosure statement, which is required to be
made by any regulatory policy. If upon the execution of this Agreement any Party
is required or wishes to issue a press  release,  each of the Parties shall have
the  ability to  review,  comment  and  approve  upon the  content of such press
release prior to issuance.

K. TERMINATION

This Option  Agreement shall  terminate at 12:01 pm on the 15th  (fifteenth) day
following  any non  payment  by Nevada  Gold to  Development  Resources  for the
schedule of payments  listed in Sections (B) and (D) above,  and/or the delivery
of the stock  required is not  delivered  on a timely  basis or any  alternative
payment  acceptable to Development  Resources has not been agreed to and paid to
Development Resources by Nevada Gold.

L. LEGAL FEES

Each Party  shall bear its own legal  costs and  expenses  with  respect to this
transaction.

M. CONDUCT OF BUSINESS

From the date hereof until the date of  termination,  the Parties shall carry on
their  respective  businesses in the ordinary  course and will not,  without the
prior  written  consent  of the  other,  enter into any  material  contracts  or
obligations not in the ordinary course of business regards to these claims.

The Parties are not 'partners' in this agreement or 'venture'.

N. JURISDICTION

For  purposes  of any and all legal  disputes or  arbitration  in regards to any
disputes the state of jurisdiction shall be the State or Nevada.

O. ENUREMENT

All rights and  obligations of the Parties hereto will be binding upon and enure
to the benefit of and be  enforceable  by each of the  Parties  hereto and their
respective successors and permitted assigns.

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P. ENTIRE AGREEMENT

This Agreement  constitutes the entire agreement between the Parties relating to
the subject matter hereof and supersedes  all prior  agreements,  understanding,
negotiations and discussions, whether oral or written, among the Parties.

EXECUTION- This Agreement may be validly executed by email or by facsimile and
in counterpart

IN WITNESS  THEREOF each of the Parties have executed this  Agreement  effective
the date first above written.

Signed,


/s/ Lee Eastman
--------------------------------------
Development Resources LLC
Lee Eastman Manager / Member


/s/ Merrill Moses
--------------------------------------
Nevada Gold Corp.
Merrill Moses, President

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