Nevada Exploration Opens Vancouver Office and Announces 2009 Annual General Meeting
December 18, 2009
Nevada Exploration Inc. (“NGE”) (TSX-V:NGE) announces that it has opened a new corporate office in Vancouver, British Columbia. NGE’s new Vancouver office is located at Suite 1500, 885 West Georgia Street, Vancouver, British Columbia, V6C 3E8 in the HSBC Building. Commenting on the move, NGE’s President and CEO, Wade Hodges: “Vancouver is a logical home for us. Simplifying the travel to and from Nevada enables us to maintain a higher profile with the analyst, brokerage, industry, and institutional networks that are integral to our growth. Further, the move streamlines our access to potential exploration partners to advance the projects identified by our generative groundwater chemistry exploration program.”
2009 Annual General Meeting
NGE also announces that the Annual General and Special Meeting of the shareholders of NGE will be held at 700 West Georgia Street, 25th Floor, Vancouver, British Columbia, on Tuesday, January 19, 2010, at 10:00 a.m. (Vancouver time). The record date for the meeting is December 14, 2009.
The Board has approved the repricing of 1,550,000 previously granted incentive stock options (“Options”) with exercise prices between $0.60 and $1.00 per Common Share to $0.15 per Common Share. Of the Options to be repriced, 1,350,000 are held by Insiders. The repricing of the Options held by Insiders is subject to disinterested shareholder approval.
ABOUT NEVADA EXPLORATION INC.
NGE is an exploration company focused on gold in Nevada. NGE is led by an experienced and historically successful exploration management team. NGE has developed a proprietary groundwater chemistry exploration technology to explore for gold in Nevada’s covered basins where traditional exploration techniques are challenged. NGE has completed the first ever comprehensive survey of Nevada’s groundwater focused on discovering new gold deposits, and has demonstrated that Nevada’s gold deposits exhibit recognizable and measurable groundwater chemistry signatures. NGE has used its proprietary technology to identify, acquire, and develop 11 new exploration properties exhibiting groundwater chemistry similar to known gold mines, and NGE is applying a standardized, staged exploration program at each property.
NGE has completed Phase I drilling at three of its properties and has discovered new, previously unknown, geochemically anomalous, hydrothermal systems at all three. With these results, NGE has demonstrated that its groundwater chemistry exploration program can identify new, high quality exploration targets in previously unexplored areas. Now that NGE has established groundwater chemistry as a valuable and important exploration technology, NGE plans to focus on matching its drill-ready properties with exploration partners. By leaving the later, more-traditional exploration stages for our partners, NGE plans to focus on leveraging its investment in groundwater chemistry exploration technology to identify and advance more new exploration properties, and to establish itself as a source of high quality, drill ready exploration properties for the mining industry.
For further information please visit our website at www.NevadaExploration.com or contact:
Wade A. Hodges,
President & CEO
Nevada Exploration Inc.
Tel: (775) 359-7740
Fax: (775) 359-7741
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.