VANCOUVER, Jan. 17 /CNW/ - Network Exploration Ltd. (the "Company") (TSX.V: NET) is pleased to announce the results of its preliminary soil sampling program conducted on its Strike claims in the Yukon. The Strike claims lie approximately 90 kilometers south southwest of Dawson City and approximately 8.5 kilometers east of Kinross Gold's White Gold Play.

The Company carried out 25.5 line kilometers of soil sampling, covering the entire property, and obtained 255 soil samples. The samples were collected at 100 meter intervals from 7 widely spaced (approx. 225 meters) parallel lines which traverse the claim area from east to west.

Analytical results from soils from the Strike claims define an anomalous zone on the south side of the project 800 meters in length with elevated gold values to 135 ppb and averaging 41.4 ppb. A second anomalous zone located on the northwestern side of the claims covered 1000 meters in length with elevated gold values up to 67ppm and averaging 19.2 ppb.

Samples were placed in tamper proof bags and delivered to the ALS Chemex laboratory in Whitehorse, Yukon where they were assayed utilizing the Au plus 36 element ICP package.

After analyzing all the data, including a previously completed (see news release Nov 12, 2009) airborne magnetic survey covering the same area, the Company contemplates performing further geochemical sampling and geological mapping. Crews will be mobilized as early as possible this spring.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Mr. Robert Friesen, P. Geo., a director of the Company and the Company's qualified person.

Private Placement

The Company also announces that it will proceed with a non-brokered private placement of up to 6,000,000 Units (the "Units") at a price of $0.065 per Unit for gross proceeds of up to $390,000 (the "Offering").

Under the terms of the private placement, the Company will offer a maximum of 6,000,000 Units at a price of six and a half 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 10 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.

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.

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.

"Alexander Helmel"

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.

SOURCE Network Exploration Ltd.

For further information:

Please contact the office at 604-638-7363 or toll-free at 1-866-637-5138, or visit

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Network Exploration Ltd.

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