MONTREAL, March 9 /CNW Telbec/ - Nevada Exploration Inc. (TSXV-NGE)
("NGE") is pleased to announce that its common shares have commenced trading
on the TSX Venture Exchange under the symbol NGE.
Wade Hodges, the President of NGE said "the completion of our financings
and our listing on the TSX Venture Exchange is a significant milestone in the
evolution of NGE as it has secured the funds needed to pursue our exploration
program on our two wholly-owned properties, to continue our extensive water
sampling using our unique technology and equipment, and to add to our land
holdings by using our water chemistry database to identify prospective
As stated in its 43-101 technical report, the primary exploration focus
of NGE is aimed at the Fletcher Junction property where preliminary water
sampling analysis results indicated anomalous concentration of gold in
underground water. In order to pursue its drilling program on the Fletcher
Junction property, NGE secured, concurrently with the listing of its common
shares on the TSX-V, all the necessary permits required to proceed with the
drilling program and is currently in the process of securing a drill rig.
Concurrently with preparing to drill at Fletcher Junction, NGE is moving
forward to acquire additional properties already identified using management's
extensive Nevada-based exploration experience coupled with its proprietary
water chemistry database and sampling protocol - negotiations with land owners
are in progress and a staking crew has been contracted.
NGE also announced the commencement in office of the new board of
directors previously announced and the granting to them of an aggregate of one
million stock options. Each stock option entitles the holder to purchase one
common share of NGE at a price of $0.60 per share until March 9, 2012. Such
options shall vest as to one-third of the options, on March 9, 2008, as to the
second one-third of the options, on March 9, 2009; and as to the final
one-third of the options, on March 9, 2010. 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 current grant,
NGE has issued 1,825,000 stock options out of an authorized maximum of
4,991,666 stock options. The option grant is subject to regulatory approval.
About Nevada Exploration Inc.
NGE is a junior exploration company focused, through its wholly-owned
Nevada incorporated subsidiary Pediment Gold LLC, on gold exploration in
Nevada. It has 100% ownership interest in two exploration properties in
Nevada's major gold trends: the Fletcher Junction Property and the Hot Pot
Property, and is led by a highly experienced management team.
The TSX Venture Exchange 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, Nevada Exploration
Inc., (514) 984-4431, email@example.com; Wade Hodges, President, Nevada
Exploration Inc., (775) 359-7740, WAHodges@NevadaExploration.com