NGE Has Closed On Private Placement Offering

VANCOUVER - Nevada Exploration Inc. has closed its previously announced non-brokered private placement offering (the “Offering”), pursuant to which it has issued 26,448,000 units.

CEO, Wade Hodges, said, “We sincerely thank our stakeholders for their support. With this financing complete, our goal is to restart drilling as soon as possible, the next-stage plans at its flagship South Grass Valley Carlin-type gold project. As we laid out prior, having confirmed the presence of a large Carlin-type mineral system with our initial Phase 1 drilling program, and then what we believe to be the major controls for the mineralization with our Phase 2 drilling program, the objective of our next phase of drilling is to demonstrate that we can follow these controls to increasing concentrations of gold. The results of the Phase 1 and 2 drilling have highlighted the importance of a series of regional-scale, high-angle faults that we believe provided the primary source for the mineralized hydrothermal fluids across the district, which we’ve named the Water Canyon structural corridor. We expect the first holes of our next program to focus on this area for the purposes of: (1) validating our exploration model (that the Water Canyon structural corridor is in fact the primary source of the mineralized hydrothermal fluids), as well as (2) testing for potentially-shallower mineralization associated with the structural corridor, as suggested by a series of intensely-silicified mineralized boulders located at the paleosurface encountered during Phases 1 and 2, similar to the structurally-related breccias hosting Cortez Hills to the north. We are in discussions with contractors presently, and expect to be able to provide additional details about our plans and anticipated start date near the end of January.”