Nevada Exploration Inc. Closes $1.1M Financing
Nevada Exploration Inc. Closes $1.1M Financing
VANCOUVER, British Columbia, Nov. 27, 2017 -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE)
(OTCQB:NVDEF) is pleased to announce that it has closed, subject to final TSX Venture Exchange approval, a non-brokered
private placement, issuing 2,787,500 units (the “Units”) at a price of $0.40 per Unit for total gross proceeds of $1,115,000.
Each Unit consists of one common share and one non-transferable common share purchase warrant. Each warrant entitles
the holder to purchase one common share at an exercise price of $0.65 for a period of 12 months. All securities issued are
subject to a four month plus one-day hold period expiring March 28, 2018. Proceeds from the offering will be used to advance
NGE’s exploration programs, as well as for general working capital.
In connection with the Offering, the Company paid finders fees totalling 133,750 Units.
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’s team has spent the last decade integrating the use of hydrogeochemistry (groundwater chemistry) with conventional
exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program. With innovative technology,
NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting more than 5,000
samples, to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has
overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by
developing its Scorpion Drill Rig, Nevada’s first truck-mounted small-diameter RC drill rig specifically tailored to the drilling
conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is generating
and advancing a significant portfolio of gold exploration projects in Nevada. NGE and its exploration partners have now drilled
more than 18,000 metres on targets defined by its exploration program, and at several projects have discovered new large
hydrothermal systems, with spatial extents covering several square kilometres, defined by system-appropriate alteration in
bedrock over significant drill intervals (>100 feet) containing widespread low-level gold (>100 ppb) and supporting trace-element
lithogeochemistry consistent with the geologic and geochemical footprints of Nevada’s large gold deposits. These are the
types of footprints that are associated with multi-million-ounce gold deposits in Nevada, and with these results NGE believes
that it has demonstrated the validity of its integrated exploration program to discover and advance new high-quality gold targets
in otherwise blind settings.
By overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, NGE is taking
meaningful steps to open this important new search space up for district-scale exploration. NGE’s business model is to
create shareholder value by leveraging its properties and technology through generative exploration, joint ventures, and other
exploration partnerships.
For further information, please contact:
Investor Relations
Nevada Exploration Inc.
Email: [email protected]
Tel: +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.
The securities issued by NGE have not been, and will not be, registered under the United States Securities Act of 1933, as
amended (the “1933 Act”), or the securities laws of any state of the United States, and may not be offered or sold in the
United States absent registration, or an applicable exemption therefrom, under the 1933 Act and the securities laws of all
applicable states. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in
the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking
information”) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and
objectives regarding projects, potential transactions, and ventures discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous
assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue
to be able to access the capital required to advance its projects and continue operations. While the Company considers these
assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or
achievements to be materially different from any future results, performance or achievements expressed or implied by the
forward-looking information contained herein. 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.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous
disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is
qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information
contained herein to reflect future results, events or developments, except as required by law.