Network amends private placement



    VANCOUVER, Aug. 12 /CNW/ - Network Exploration Ltd. (the "Company")
(TSX.V: NET) announces that further to its press release dated July 9th 2009,
the Company has amended the terms of it's private placement where the Company
will now offer up to 7.5 million units at a price of 4.0 cents per unit and 6
million flow-through units at a price of 5 cents per unit for total gross
proceeds of up to $600,000.
    Under the terms of the private placement each unit will consist of one
common share of the Company and one share purchase warrant where each warrant
will allow the subscriber to purchase one additional common share of the
Company at a price of eight cents for a period of one year following the close
of the private placement. Each flow-through unit will consist of one
flow-through common share and one share purchase warrant where each warrant
will allow the subscriber to purchase one additional common share of the
Company at a price of eight cents for a period of one year following the close
of the private placement.
    Securities issued will be subject to a four-month hold period following
the closing of the private placement. It is contemplated that the portion of
the investment represented by the flow-through shares will entitle the holders
to a 100% CEE tax deduction as set forth under the Income Tax Act (Canada).
    Proceeds from this offering will be used for exploration at the Company's
recently acquired Yukon property, working capital and general corporate
purposes. The private placement and finder's fee, if applicable, are subject
to the acceptance by the TSX Venture Exchange.

    Network Exploration Ltd. is a mineral exploration company committed to
building shareholder value through the acquisition of base and precious metal
properties in North and South America.

    
    ON BEHALF OF THE BOARD OF DIRECTORS

    "Alexander Helmel"

    President
    

    Forward-Looking Statements: This news release has been prepared by
management. This document contains certain forward looking statements which
involve known and unknown risks, delays, and uncertainties not under the
Company's control which may cause actual results, performance or achievements
of the Company to be materially different from the results, performance or
achievements implied by these forward looking statements.

    
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    THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
    RELEASE. This news release contains certain "Forward-Looking Statements"
    within the meaning of Section 21E of the United States Securities
    Exchange Act of 1934, as amended. All statements, other than statements
    of historical fact, included herein are forward-looking statements that
    involve various risks and uncertainties. There can be no assurance that
    such statements will prove to be accurate, and actual results and future
    events could differ materially from those anticipated in such statements.
    Important factors that could cause actual results to differ materially
    from the Company's expectations are disclosed in the Company's documents
    filed from time to time with the British Columbia Securities Commission
    and the United States Securities & Exchange Commission.
    

    %SEDAR: 00005604E




For further information:

For further information: please contact the office at (604) 638-7363 or
toll-free at 1-866-637-5138, or visit www.networkexploration.com

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Network Exploration Ltd.

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