NGE Nevada Exploration Inc

Nevada Exploration Inc. ("NGE") (TSX VENTURE:NGE) reports that International
Enexco Ltd. ("Enexco") has withdrawn from the Exploration and Option to Joint
Venture Agreement on NGE's Hot Pot Gold Project in the Kelly Creek Basin, in
north-central Nevada, and as a result, Enexco retains no interest in the
project.


In 2009 and early 2010, Enexco completed an 11 hole, 3,462 metre (11,360 ft)
core drilling program at Hot Pot to collect stratigraphic information and test
for mineralized structures beneath the alluvial cover. Enexco's drilling
successfully encountered weak, but widespread anomalous gold values in all 11
holes. Importantly, the results showed that the anomalous gold values at Hot Pot
are associated with increased copper values, an association that is related to
ore-grade gold mineralization within the Marigold mine complex 9 km (6 miles) to
the south-southwest. In addition, the results included anomalous silver
concentrations, including one 4.57 metre (15 ft) interval averaging 15.5 gpt
silver, as well as several other trace element distribution patterns indicative
of a large hydrothermal system.


NGE believes that Enexco's exploration program has added valuable stratigraphic
and structural information to the Hot Pot project and that the results have
further confirmed the alteration and mineralization characteristics at the
project are similar to the ore controlling features at Marigold. With the Hot
Pot project now back under NGE's control, NGE is pleased to be able to combine
the project with NGE's much larger Kelly Creek property to the north - more
information and map available at:
http://www.nevadaexploration.com/properties/kelly_creek/overview/. Together,
these two NGE projects total approximately 78 sq km (30 sq miles) and cover much
of the northern part of the Battle Mountain - Eureka Gold Trend within the
prolific Kelly Creek Basin, between multi-million ounce gold deposits on the
north (Twin Creeks, Getchell, Turquoise Ridge, and Pinson) and south (Lone Tree,
Marigold, Trenton Canyon, Converse, Buffalo Valley, Copper Basin, and Phoenix).
Recently, a geothermal exploration group completed a multi-million dollar
geophysical survey across the project area. NGE is combining the new geophysical
data with the Enexco drilling results and expects to soon present the updated
exploration dataset to interested groups to find a new exploration partner for
this important pediment target.


Nevada Exploration Inc.

NGE is an exploration company focused on gold in Nevada. NGE is led by an
experienced management team that has been involved with the discovery of more
than 30 million ounces of gold in Nevada.


NGE is aggressively applying the latest in "blind deposit" exploration
technology to identify, acquire, and advance new exploration properties in
Nevada's highly prospective, yet underexplored covered basins. Specifically, NGE
has developed proprietary hydrogeochemistry (groundwater chemistry) exploration
technology to explore for gold in Nevada's covered basins where traditional
exploration techniques are challenged.


Using its industry leading exploration technology, NGE has assembled a portfolio
of nine new gold projects, and with over 20,000 hectares (75 sq mi), is evolving
as a major player in this world class jurisdiction. NGE's business model is to
leverage its properties and technology to create shareholder value through
generative exploration, joint ventures, and other exploration partnerships.


Wade A. Hodges, President & CEO, Nevada Exploration Inc., is the Qualified
Person, as defined in National Instrument 43-101, and has prepared the technical
and scientific information contained in this News 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, environmental permits, the availability
of needed personnel and equipment for exploration and development, fluctuations
in the price of minerals, and general economic conditions.

Grafico Azioni Nevada Exploration (TSXV:NGE)
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Da Ott 2024 a Nov 2024

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