Network announces non-brokered private placement for proceeds of up to
$1,000,000

VANCOUVER, Aug. 4 /CNW/ - Network Exploration Ltd. (the "Company") (TSX.V: NET) is pleased to announce that it is proceeding with a non-brokered private placement of up to 10,000,000 units (the "Units") at a price of $0.10 per Unit for gross proceeds of up to $1,000,000 (the "Offering").

Under the terms of the private placement, the Company will offer a maximum of 10,000,000 Units at a price of ten cents per Unit. Each Unit will consist of one common share of the Company and one full share purchase Warrant where each Warrant will allow the subscriber to purchase one additional common share of the Company at 15 cents during the first year following the closing of the private placement.

All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities law legislation. The Company may pay a finder's fee on the Offering in cash, Common Shares, Warrants, or a combination thereof, up to the maximum amount permitted by the policies of the TSX Venture Exchange (the "Exchange").

The proceeds from the Offering will be used for general corporate working capital and ongoing exploration at the Company's properties.

Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval from the 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. For additional information, contact the Company at 604 638-7363 (toll free 866 637-5138) or visit the Company's website: www.networkexploration.com.

    
    ON BEHALF OF THE BOARD OF DIRECTORS

    "Alexander Helmel"
    President
    

Neither 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.

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.

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

SOURCE Network Exploration Ltd.

For further information: For further information: Network Exploration Ltd., 604-638-7363, toll-free 1-866-637-5138

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Network Exploration Ltd.

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