Fletcher Junction drill results identify new gold-bearing hydrothermal system, and confirm water chemistry exploration concept



    MONTREAL, June 23 /CNW Telbec/ - Nevada Exploration Inc. (TSX-V: NGE)
("NGE") is pleased to announce completion of phase I reverse circulation (RC)
drill testing of its Fletcher Junction property. Management is pleased to
report that all 9 drill holes completed to target depth encountered
hydrothermally altered rocks containing geochemically anomalous gold and
gold-associated trace elements, as well as anomalous gold and trace-element
groundwater chemistry. The bedrock, the alteration, and the suite of
gold-associated trace elements are similar to those found at the nearby Aurora
mining district, noted for historic, high grade underground production. NGE
believes the first phase drilling results at Fletcher Junction justify a much
larger, phase II drilling program specifically designed to intersect ore-grade
mineralization in what appears to be the center of the large hydrothermal
system.
    While significant intervals of potentially ore grade mineralization were
not encountered in phase I drilling, management believes that the results at
Fletcher Junction are substantive in that they demonstrate how NGE has used
its unique and proprietary groundwater exploration technique to discover a new
gold-bearing, hydrothermal system in a covered bedrock setting. Commenting on
the results, Wade Hodges, President & CEO, said: "What we have done at
Fletcher Junction is use our water chemistry technology to identify and vector
into a previously undiscovered, gold-bearing hydrothermal system where only
unaltered basalt covering alluvium were known to exist previously. This is an
important milestone for NGE and the advancement of our exploration concept. We
are very excited to follow-up on similar gold in groundwater anomalies at our
other 10 properties where we will not be faced with the technical and
logistical challenges of targeting beneath and drilling on top of basalt."

    ABOUT FLETCHER JUNCTION DRILLING

    Fletcher Junction is the property of merit described in the NGE filing
statement dated February 16, 2007, produced as per National Instrument 43-101
and available on www.sedar.ca. This report is in the process of being updated
with the technical results of phase I drilling, results are summarized below.
    The Fletcher Junction target was identified by sampling highly anomalous
gold-bearing water from springs flowing out from beneath a recent basalt flow.
A subsequent surface geochemistry survey along the edge of the basalt revealed
a number of mineralized quartz boulders containing very high concentrations of
gold. NGE believed the highly anomalous concentrations of gold in both the
spring water and the quartz boulders along the edge of the basalt flow
suggested the presence of a mineralized target beneath the basalt and
alluvium.
    The nature of the geologic setting, specifically the basalt covering the
target, precluded the use of many conventional drill targeting techniques:
soil geochemistry is not possible as there is no soil on top of the basalt;
ground and air magnetic surveys are ineffective because the highly magnetic
response of the basalt masks the response of the underlying geologic units;
and prior to drilling, the unknown thicknesses of basalt, on top of alluvium,
on top of possible hydrothermally altered volcanic rock, on top of denser
bedrock complicate interpreting gravity data. The challenges associated with
using conventional exploration techniques at Fletcher Junction afforded an
excellent opportunity for NGE to demonstrate the power of water chemistry as
an exploration tool.
    Because the blocky basalt covering the target is rough, and the
permitting requirements of the US Forest Service are burdensome, the first
round of drilling at Fletcher Junction was designed to take advantage of
natural travel corridors on top of the basalt, thus limiting the need for road
construction, minimizing the environmental disturbance, and shortening the
permitting process. The objectives of the first round of drilling were: 1) to
test the initial 2,750m by 900m (9,000ft by 3,000ft) target with wide spaced,
vertical holes to determine the size of the expected hydrothermal system and
the nature of its primary, potentially ore controlling characteristics; and
2) to validate the concept that gold in groundwater can be used to identify a
previously undiscovered, completely concealed, potentially gold-bearing
hydrothermal system, where conventional techniques could not.
    Thirteen holes, spaced an average of 500m (1,650ft) apart, were drilled
with depths ranging from 152m to 295m (500 ft to 965ft) for a total drill
footage of 3,416m (11,208ft). Nine of the 13 holes intersected bedrock at
depths ranging from 122m to 253m (400ft to 830ft) - average bedrock depth was
213m (700ft). The four holes that did not encounter bedrock were stopped short
of their intended target depths due to drilling difficulties. Two holes were
abandoned in such a way that it will be possible to re-enter them at a later
date. Final assay results have been received for 10 of 13 drill holes - the
rest are expected within the coming weeks.
    NGE is presently preparing a new Plan of Operations, to be submitted to
the US Forest Service, for a 36 hole drilling program, which will include new
road construction to get the drills as close to the target as possible. As the
Fletcher Junction permitting process continues, NGE is using its two RC drill
rigs at its other properties.

    OTHER MATTERS

    Subject to NGE's employee stock option plan, NGE granted to one of its
financial advisors the option to subscribe for 200,000 shares of NGE at a
subscription price of $0.78 per share within a maximum of 5 years following
the date of grant.

    ABOUT NGE

    NGE is an exploration company focused, through its wholly-owned Nevada
incorporated subsidiary Pediment Gold LLC, on gold exploration in Nevada. NGE
is led by a highly experienced and historically successful exploration
management team. NGE has developed a proprietary groundwater chemistry
exploration technology and is the first to complete a comprehensive and
consistently applied survey of Nevada's groundwater chemistry specifically
directed toward the discovery of new gold deposits. Management believes that
the results of NGE's groundwater chemistry program are significant in that
they are demonstrating that Nevada's known gold deposits exhibit recognizable
groundwater chemistry signatures. NGE has identified and acquired several
exploration properties with similar groundwater chemistry and is in the final
stages of testing whether such water chemical signatures can be followed "up
stream" to discover new gold deposits in much less time and for much less
money than the conventional exploration approaches currently used by other
exploration groups. NGE continues to refine and apply this technology to
identify, acquire, further delineate and then drill test its own highly
prospective exploration properties to return the maximum value of making a new
gold discovery to shareholders. NGE is also in a unique position to add value
to the Joint Venture opportunities presented by more conventional exploration
groups.

    The TSX-V has in no way passed upon the merits and does not accept
    responsibility for the adequacy or accuracy of this press release.

    Wade A. Hodges is the Qualified Person, as defined in National Instrument
43-101, and is responsible for the preparation of the technical and scientific
information contained in this News 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.
    %SEDAR: 00023996E




For further information:

For further information: Wade A. Hodges, President, CEO & Director,
Nevada Exploration Inc., (775) 359-7740, WAHodges@NevadaExploration.com

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NEVADA EXPLORATION INC.

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