NGE Nevada Exploration Inc

Nevada Exploration Inc. ("NGE") (TSX VENTURE:NGE) is pleased to announce that it
has entered into a Letter of Intent ("LOI") with Baymount Incorporated
("Baymount") (TSX VENTURE:BYM) whereby Baymount may earn a joint venture
interest in NGE's Fletcher Junction Gold Project, in Mineral County, Nevada (the
"Property").


Under the terms of the LOI, Baymount will have the option to earn a 51% interest
in the Property by funding $5,825,000 in qualifying expenditures and making
$600,000 in payments over 4 years (the "Earn-In"). The Year 1 payment of $60,000
is due upon the signing of a definitive agreement and the Year 1 work commitment
of $580,000 is a firm obligation. Subject to TSX Venture Exchange approval,
Baymount may elect to pay up to 50% of the payments due under the definitive
agreement by issuing Baymount Common Shares. NGE will act as the Operator during
the Earn-In. If Baymount completes the Earn-In, Baymount may earn an additional
14%, for a total of 65%, by completing a feasibility report. Once NGE and
Baymount complete a definitive agreement, the companies will issue a further
news release with additional details. The foregoing is hereinafter referred to
as the Transaction.


The Transaction will constitute of Change of Business for Baymount and is thus
subject to a number of conditions, including TSX Venture Exchange and Baymount
Shareholder approval. There can be no assurance that the Transaction will be
completed as proposed or at all.


More information about the Fletcher Junction Project can be found at NGE's
website: http://www.nevadaexploration.com/properties/fletcher/overview/.


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.


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 Nov 2024 a Dic 2024

Grafico Azioni Nevada Exploration (TSXV:NGE)
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Da Dic 2023 a Dic 2024