Nevada Exploration Inc. Announces Commencement Of Trading, Operational Progresses And Granting Of Stock Options
March 9, 2007
Nevada Exploration Inc. (TSXV-NGE) ("NGE") is pleased to announce that its common shares have commenced trading on the TSX Venture Exchange under the symbol NGE.
Wade Hodges, the President of NGE said “the completion of our financings and our listing on the TSX Venture Exchange is a significant milestone in the evolution of our company as it has secured the funds needed to pursue our exploration program on our two wholly-owned properties, to continue our extensive water sampling using our unique technology and equipment, and to add to our land holdings by using our water chemistry database to identify prospective targets”.
As stated in its 43-101 technical report, the primary exploration focus of NGE is aimed at the Fletcher Junction property where preliminary water sampling analysis results indicated anomalous concentration of gold in underground water. In order to pursue its drilling program on the Fletcher Junction property, NGE secured, concurrently with the listing of its common shares on the TSX-V, all the necessary permits required to proceed with the drilling program and is currently in the process of securing a drill rig. Concurrently with preparing to drill at Fletcher Junction, the company is moving forward to acquire additional properties already identified using management’s extensive Nevada-based exploration experience coupled with its proprietary water chemistry database and sampling protocol – negotiations with land owners are in progress and a staking crew has been contracted.
NGE also announced the commencement in office of the new board of directors previously announced and the granting to them of an aggregate of one million stock options, each stock option entitles the holder to purchase one common share of NGE at a price of $0.60 per share until March 9, 2012, such options vesting as to one-third of the Options, on March 9, 2008, as to the second one-third of the Options, on March 9, 2009; and as to the final one-third of the Options, on March 9, 2010. The options and any securities issued upon the exercise of the options are subject to a four month hold period. The options were granted pursuant to the Company’s stock option plan which reserves an aggregate total of stock options equivalent to 10% of the Company’s issued and outstanding share balance at any given time. Including the current grant, the Company has issued 1,825,000 stock options out of an authorized maximum of 4,991,666 stock options. The option grant is subject to regulatory approval.
About Nevada Exploration Inc.
NGE is a junior exploration company focused, through its wholly-owned Nevada incorporated subsidiary Pediment Gold LLC, on gold exploration in Nevada. It has 100% ownership interest in two exploration properties in Nevada’s major gold trends: the Fletcher Junction Property and the Hot Pot Property, and is led by a highly experienced management team.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
For further information
Daniel Pharand, President, C Level Bio International Holding Inc., (514) 984-4431, firstname.lastname@example.org
Wade Hodges, President, Nevada Exploration Inc., (775) 359-7740, email@example.com
Cautionary Statement on Forward-Looking Information:
This release contains certain "forward-looking statements" including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.