URZ.V · 2024-03-13 12:00:00

Nevada Exploration Announces Upsizing of Financing

Financings

VANCOUVER, British Columbia, March 13, 2024 -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE;

OTCQB:NVDEF) announces that further to its news release dated February 20, 2024, that due to excess demand the private

placement has been increased from C$550,000 to up to C$605,000.

Subject to TSX Venture Exchange approval, the Company now intends to complete a non-brokered private placement offering

of up to 5,500,000 units (the “Units”) at a price of C$0.11 per Unit (the “Offering”), for total gross proceeds of up to

C$605,000. Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one Common

Share purchase warrant (a “Warrant”), with each Warrant entitling the holder thereof to acquire an additional Common Share at

an exercise price of C$0.20 per Common Share for 36 months after the date of issuance (the “Closing Date”). If after four

months plus one day from the Closing Date the closing price (or closing bid price on days when there are no trades) of NGE’s

common shares is greater than C$0.40 per share for 10 consecutive trading days, NGE may accelerate the expiry date of the

Warrants to the 30th day after the date on which NGE gives notice to the Warrant holders of such acceleration, with such

notice being the issuance of a news release by the Company announcing the acceleration of the expiry date.

Proceeds from the Offering will be used for general working capital purposes.

The Offering is subject to receipt of all necessary regulatory and TSX Venture Exchange approvals. The securities issued at

closing of the Offering will be subject to a four month plus one day hold period from the date of issue, as well as to any other

re-sale restrictions imposed by applicable securities regulatory authorities. Subject to approval by the TSX Venture Exchange

and applicable securities legislation, NGE may pay finder’s fees with respect to certain subscriptions from arm’s length

subscribers in accordance with the TSX Venture Exchange Policies.

About Nevada Exploration Inc.

NGE has for the past several years been applying modern technology to systematically explore for the undiscovered second

half of Nevada’s gold endowment waiting to be uncovered within Nevada’s valley basins. The Company is examining other

opportunities in its quest to create shareholder value.

For further information, please contact:

Nevada Exploration Inc.

Telephone: +1 (604) 601 2006

Website: www.nevadaexploration.com

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.