AMERICAN NEVADA TO DRILL GOLD BAR PROPERTY

AMERICAN NEVADA GOLD CORP.

FOR IMMEDIATE RELEASE
    Monday, June 23, 2003
Contact:    Investor Relations    (No.2003-06-05)
    Phone (604) 684-2181
    info@varshneycapital.com

AMERICAN NEVADA TO DRILL GOLD BAR PROPERTY

June 23, 2003 - AMERICAN NEVADA GOLD CORP. (the "Corporation") (TSX Venture Exchange: AGN) is pleased to report that mobilization of a drilling rig to the Gold Bar Property is anticipated to occur on June 28, 2003. The Gold Bar Property is located in the Battle Mountain / Eureka mineral trend in central Nevada. The Gold Bar project is held under an option agreement with American Bonanza Gold Mining Corp. (the "Operator").

Production by Atlas Corporation and its subsidiaries began at the Gold Bar Pit in 1987 and continued until the mine closed in 1994. A total of 7,514,600 tons grading 0.074 opt gold were produced. Recoveries averaged 87%, resulting in production of 485,000 ounces of gold, as previously announced. Atlas mined from limestone host rock formations which are relatively poor hosts for sediment hosted, disseminated (Carlin-type) gold deposits. The most favourable known host rock for Carlin-type gold deposits is the Roberts Mountains Formation, known to exist in the Main Gold Bar Pit area at depths of approximately 700 metres. The target deposit would lie at depth within the Roberts Mountains Formation. The target deposit would occur where the feeder structures intersect the Roberts Mountains Formation, and would be a high grade, deep Carlin type deposit.

The Stage 1 Exploration Program at the Gold Bar Property has consisted of continuing and completing the data entry and processing by the Operator in the Gold Bar Main Pit area. This data has been entered and incorporated into 2-D and 3-D models and consists of structural, geological and exploration, development and production drilling assay data. The resulting model will guide the deep drilling required to test the deep Carlin-type deposit model. It is anticipated that one reverse circulation drill hole will be drilled to an approximate depth of 2,500 feet. The initial drilling program will provide essential stratigraphic information in the vicinity of the Gold Bar Main Pit area feeder structures. It will also provide preliminary information concerning alteration and possible gold mineralization in the Roberts Mountains Formation near the feeder structures.

Additional information about American Nevada and its properties can be obtained at www.americannevadagold.com. For further information please contact Investor Relations at (604) 684-2181.


AMERICAN NEVADA GOLD CORP.

"Hari B. Varshney"

Hari B. Varshney
President

The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.







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