In 2002, a team of skilled geologists with more than 70 combined years of exploration experience and responsible for gold discoveries totalling more than 40 million ounces formed Nevada Gold Exploration Solutions (“NGXS”) to research and develop an entirely new and innovative exploration approach based on groundwater chemistry and to aggressively apply this new exploration technology to one of the most productive and politically stable gold producing regions in the world: Nevada.
In 2004, NGXS entered into a joint venture with Battle Mountain Gold Exploration Corporation. (OTC: BMGX) to identify, acquire, and explore prospective gold properties in Nevada using NGXS’s Proprietary Water Chemistry Database. Initial application of the Groundwater Chemistry Exploration Program yielded significant results on two wholly owned properties, Hot Pot and Fletcher Junction, and supported a market capitalization of $20,000,000 USD for BMGX.
In early 2006, BMGX made a strategic decision to transition from an exploration company to a gold royalty company and ceased all exploration activity. NGXS, excited by the success of the Groundwater Chemistry Exploration Program, purchased back 100% interest in the program from BMGX for 7.8 million BMGX shares (approximately $6.8 million USD).
In late 2006, NGXS started a new company, Nevada Exploration Inc. (“NGE”), specifically to continue with the Groundwater Chemistry Exploration Program and to advance the two exploration properties.
In early 2007, NGE merged with C Level Bio International Holding Inc., a capital pool company on the TSX Venture. The resulting entity is Nevada Exploration Inc and trades on the TSX Venture under the symbol: “NGE”.