NGE Nevada Exploration Inc

Nevada Exploration Inc. (TSX VENTURE:NGE) ("NGE") is pleased to provide an
exploration update on the Grass Valley Project and to announce that McEwen
Mining Inc. has elected to continue the Project.


Background and Project Description

In February 2012 McEwen Mining and NGE began working together under an
Exploration Agreement to generate new gold projects using NGE's proprietary
hydrogeochemistry (groundwater chemistry) exploration technology within a 25,000
hectare (95 sq mi) study area in Grass Valley in north central Nevada (the
"AOI"), south of Barrick Gold Corp's Cortez Hills Gold Mine. During the year,
McEwen Mining and NGE completed a hydrogeochemistry sampling program across the
large AOI, and delineated a large, previously unexplored target area on the west
side of Grass Valley based on a NNE lineament of upwelling groundwater
containing anomalous concentrations of gold and other trace elements associated
with Carlin-type mineralization.


When evaluated in the context of the regional geology, the hydrogeochemistry
results suggested a possible underlying mineralized fault system projecting
northward towards Cortez Hills, and in September 2012 McEwen Mining elected to
acquire the Grass Valley Project as a Designated Project under the Exploration
Agreement. The Grass Valley Project consists of approximately 59 sq km (23 sq
mi) of unpatented mining claims along the west side of Grass Valley.


Exploration Update

Since acquiring the Grass Valley Project, McEwen Mining has advanced the Project
by: collecting rock, soil, and vegetation geochemistry samples; mapping the
exposed range front geology in the context of the regionally important
structural controls; completing a detailed gravity geophysics survey; and
acquiring and reprocessing historic seismic geophysical data. During this time,
NGE has also completed additional groundwater sampling.


While the spatial extent of the rock, soil, and vegetation geochemistry sampling
was limited to several small areas, the results show localized concentrations of
elevated gold and trace element chemistry along areas defined by anomalous
hydrogeochemistry in patterns that further suggest the presence of NNE trending
structural zones beneath the project area.


At the project scale, the geologic mapping along the exposed range front
identified upper plate rocks with widely-scattered, small areas of hydrothermal
alteration coincident with anomalous gold and trace-elements in the rock
geochemistry samples. At the district scale, four miles to the west of the
Project, windows through the upper plate have exposed lower plate rocks hosting
a small Carlin-type gold deposit at the Toiyabe mine. Several of the SSE
trending folds exposed in the mountains surrounding the Toiyabe mine project
beneath the Grass Valley Project area, where they intersect the major inferred
NNE structural zones. Together, the local and district scale mapping suggest the
possibility that the lower plate rocks associated with mineralization at Cortez
Hills to the north and Toyiabe to the west could also be present at economic
depths at the Grass Valley Project.


The detailed gravity geophysical survey successfully outlined a broad area of
bedrock covered by an estimated less than 100m (300ft) of sand and gravel
extending 3.2km (2mi) from the exposed range front for the entire length of the
8km (5 mi) long target area. These results provided further evidence that depth
of cover at the project is potentially shallow and within economic constraints,
and that the target area is large enough to contain a significant mineralized
system.


The seismic data was originally collected in the late 1980's for a research
project designed to characterize the deep crustal structure of north-central
Nevada. McEwen Mining acquired and re-processed this data to provide information
at shallower depths more appropriate for gold exploration. The reprocessed data
identified a complex fault system dipping to the west and exhibiting
characteristics associated with older reactivated structures regarded as
favorable for Carlin-type gold deposits elsewhere in Nevada.


In addition to the work completed at Grass Valley by McEwen Mining since
acquiring the Project, NGE has also been completing further groundwater sampling
to continue to focus exploration in Grass Valley. NGE's sampling efforts are
ongoing, but the results to date have already focused the area of anomalous
hydrogeochemistry at the Grass Valley Project to a north-south oriented target
measuring approximate 8km (5 mi) long by 1.6km (1mi) wide.


While Grass Valley still represents an early stage grass roots exploration
project, NGE is very encouraged by the results to date and the significant
upside of this new Project. The combination of: (i) the major NNE structures
suggested by the geochemistry and confirmed by the gravity geophysics that
project from the Grass Valley Project to the mineralized Cortez Hills Breccia
Complex; (ii) the SSE trending fold structures associated with the mineralized
lower plate bedrock at the Toiyabe Mine that project beneath the Project, cross
cutting the major NNE structures; (iii) the shallow cover and large size of the
target area suggested by the detailed gravity geophysics; and (iv) the presence
of elevated concentrations of gold and other trace elements associated with
Carlin style mineralization in the groundwater at the Project, together have
provided further confirmation that the Grass Valley Project represents a
compelling new exploration target in an area of Nevada known for large world
class gold deposits.


Based on this encouraging exploration dataset, McEwen Mining has notified NGE
that it plans to continue advancing the Grass Valley Project for another year
and to work with NGE to collect additional pre-drilling groundwater chemistry
data, with the objective of establishing a strong geologic case for a series of
stratigraphic test drill holes to establish the presence of and depth to the
reactive lower plate host rocks that are associated with large Carlin-type gold
deposits in Nevada.


Exploration Agreement

As per the terms of the Exploration Agreement, McEwen Mining and NGE's interests
in the Grass Valley Designated Property are 70% and 30% respectively. McEwen
Mining is the project manager, has sole discretion on the nature and timing of
all exploration and development activities, and is solely responsible for
payment of all costs incurred in respect of the project. As McEwen Mining elects
to continue to maintain the Grass Valley Designated Property, McEwen Mining will
pay NGE $100,000 USD on the first through fourth anniversaries of acquiring the
Designated Property, and then $250,000 USD on each subsequent anniversary. If
McEwen Mining completes a Production Decision Report on the Designated Property
that McEwen Mining deems sufficient to base a decision to commence production,
the Designated Property will advance under a Joint Venture agreement, at which
time both parties will be required to fund their pro rata share of project
expenditures or be diluted. If either party's interest is diluted below 10%,
such party's interest converts to a 2% NSR.


About 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 covered 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 13,500 hectares (52 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.


For more information about NGE's regional exploration program, which was
responsible for identifying the Grass Valley Project, please refer to the
presentations and material available on NGE's website:
http://www.nevadaexploration.com/investor_info/presentations/


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.


Neither the 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.

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
James Buskard
Vice President Corporate Development
Nevada Exploration Inc.
info@nevadaexploration.com
1 (888) 263 2110
www.nevadaexploration.com

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