Network Exploration private placement



    VANCOUVER, July 3 /CNW/ - Network Exploration Ltd. (the "Company")
(TSX.V: NET), further to the Company's news release issued June 4, 2008,
announcing a private placement of up to $1,500,000 at $0.10 per unit, the
Company has, subject to regulatory approval, amended the terms of the private
placement as follows: the Company will offer a maximum of 15,000,000 Units at
a price of 5 cents per Unit for proceeds of up to $750,000. 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 either 10 cents during the first
year following the closing of the private placement or at 15 cents during the
second year following the closing of the private placement.
    In the event that the Company's common shares trade at a closing price on
the TSX Venture Exchange of greater than 30 cents per share for a period of 20
consecutive trading days at any time after four months and one day following
the closing date, the Company may accelerate the expiry date of the Warrants
by giving notice to the holders thereof and in such case the Warrants will
expire on the 30th day after the date of such notice.
    Units issued will be subject to a four-month hold period following the
closing of the private placement. Proceeds from this offering will be used for
exploration of the Company's properties, working capital and general corporate
purposes. Finder's fees may be applicable.

    Network Exploration Ltd. is a mineral exploration Company committed to
building shareholder value through the exploration 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

    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




For further information:

For further information: Allison Murray, Corporate Communications, (604)
638-7363

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Network Exploration Ltd.

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