Nevada Exploration Mobilizes Drill to South Grass Valley Project, Battle Mountain-Eureka Trend, Nevada
September 24, 2018
Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB: NVDEF) is pleased to announce that it has mobilized a core drill rig to begin drilling at its South Grass Valley Project, located in Grass Valley, the covered basin immediately south of the Cortez district, which currently produces approximately one million ounces per year. NGE plans to provide a Project update and guidance on both the objectives and expected scope of the drilling program once the Company has incorporated some additional new geophysical data and interpretations into the Project’s geologic model, which are in progress and expected shortly.
The Company also announces that pursuant to its stock option plan, NGE has granted incentive stock options to acquire a total of 2,080,000 common shares of the Company to employees, officers, and directors, exercisable for a period of ten years from the date of grant at the exercise price of $0.26 per share, subject to vesting requirements.
NGE is pleased to welcome its stakeholders to visit with its team at the following upcoming events:
Metals Investor Forum (Vancouver)
Friday and Saturday, September 28th and 29th, 2018
Silver and Gold Summit (San Francisco)
Saturday to Monday, October 27th to 29th, 2018
Mines and Money (London)
Monday to Thursday, November 26th to 29th, 2018
American Exploration & Mining Association (Spokane)
Monday to Friday, December 3rd to 7th, 2018
Vancouver Resource Investment Conference (Vancouver)
Sunday and Monday, January 20th and 21st, 2019
Sunday to Wednesday, March 3rd to 6th, 2019
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several significant discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine). NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open this important new search space up for district-scale exploration.
For further information, please contact:
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.
Wade A. Hodges, CEO & Director, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue to be able to access the capital required to advance its projects and continue operations. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. 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.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.