MONTREAL, June 13 /CNW Telbec/ - NGE is pleased to announce the addition
of two independent senior geologists to its Advisory Committee, namely Mr.
Kendall W. Sageser and Mr. Garry K. Smith.
Mr. Sageser is an Exploration Geologist with more than 40 years of
experience around the world. He is the holder of a BS Geological Engineering
and of a BS Mining Engineering degrees obtained from the South Dakota School
of Mines and Technology and of a MS Geology degree obtained from Stanford
University. Mr. Sageser started his career at Shell Oil Company as an
Exploration Petroleum Geologist. He then worked as a geologist for numerous
corporations including the United States Steel Corporation, the U.S. Steel
International / Essex Mineral Company and also acted as Senior Vice-President
and served on the Board of Directors of Santa Fe Pacific Gold Corporation (now
Newmont Mining Corporation - NYSE: NEM). He managed Santa Fe Pacific Gold
Corporation's mineral exploration program, resulting in the discovery of
approximately 19 million ounces of gold. Daniel Pharand, Chairman of NGE,
stated: "We are delighted to add Mr. Sageser's significant geological
expertise to a company that already has a first class exploration team. His
input and advice will be extremely valuable to us going forward as we
accelerate and expand our exploration program."
Mr. Smith is an Exploration Geologist with over thirty years experience
in Canada and the United States who has been involved in the formation,
financing and management of a number of junior resource companies.
Importantly, he is well regarded and highly-skilled in geochemical analysis, a
qualification that will greatly assist NGE as its water chemistry program
continues to move forward. Wade Hodges, the President of NGE stated "Garry
brings to NGE a wealth of exploration experience, and specifically geochemical
and computer data presentation and computer resource modelling software
expertise, that will significantly assist us in detailed target delineation
and the evaluation of our exploration results." Mr. Smith said, "that he has
been following the progress made by NGE since it first started compiling water
data and developing proprietary exploration technology, and that he is excited
about the use of the water chemistry program as a primary tool to accelerate
gold exploration in the State of Nevada".
NGE also announced that it has granted on June 8, 2007 200,000 options to
its newly appointed director, John (Jack) L. Tindale, 150,000 options to its
Chief Financial Officer Randy Koroll and 350,000 options to other advisors and
employees of NGE (including Mr. Smith). Each stock option entitles the holder
to purchase one common share of NGE at a price of $0.95 per share until June
8, 2012. Such options shall vest as to one-third of the options, on June 8,
2008, as to the second one-third of the options, on June 8, 2009; and as to
the final one-third of the options, on June 8, 2010. NGE also granted 150,000
additional options to its new advisor Mr. Sageser on June 11, 2007 under
similar conditions but for the exercise price being set at $1.00 per NGE
share. The options and any securities issued upon the exercise of the options
are subject to a four-month hold period. The options were granted pursuant to
stock option plan of NGE which reserves an aggregate total of stock options
equivalent to 10% of the issued and outstanding shares of NGE at any given
time. Including the these grants, NGE has issued 3,725,000 stock options out
of an authorized maximum of 4,991,666 stock options. The options grants are
subject to regulatory approval.
NGE is an exploration company focused, through its wholly-owned Nevada
incorporated subsidiary Pediment Gold LLC, on gold exploration in Nevada. NGE
has 100% ownership interest in the mineral rights to exploration properties in
Nevada's major gold trends and is led by a highly experienced management team.
NGE developed a proprietary groundwater chemistry exploration technology and
has completed the first ever survey of Nevada's groundwater chemistry.
Management believes that the results of NGE's groundwater chemistry program
are significant in that they have demonstrated that Nevada's gold deposits
exhibit recognizable groundwater chemistry. NGE continues to refine and apply
this technology to identify, acquire, further delineate and then drill test
its own highly prospective properties. NGE is also in a unique position to add
value to Joint Venture opportunities.
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.
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, the availability
of needed personnel and equipment for exploration and development,
fluctuations in the price of minerals, and general economic conditions.
For further information:
For further information: Daniel Pharand, Chairman of the Board, Nevada
Exploration Inc., (514) 984-4431, firstname.lastname@example.org; Wade Hodges, President
& CEO, Nevada Exploration Inc., (775) 359-7740,