Nevada Exploration Appoints New Chief Financial Officer and Director
November 17, 2009
Nevada Exploration Inc. (“NGE”) (TSX-V:NGE) is pleased to announce the appointment of Mr. Cyrus Driver, CA to the position of Chief Financial Officer and to the Board of Directors, subject to TSX Venture Exchange approval.
Cyrus Driver, based in Vancouver, is a chartered accountant and was a founding partner in the firm of Driver Anderson since its inception in 1981. He is currently a partner with Davidson and Company LLP after merging with them in 2002. While providing general public accounting and auditing services to a wide range of clients, Mr. Driver specializes in servicing TSX Venture Exchange listed companies and members of the brokerage community. He currently serves as director and/or Chief Financial Officer of several TSX Venture Exchange companies.
Wade Hodges, President & CEO: “As a company, NGE’s approach to gold exploration is different. What we are doing has never been done before and we are always looking to strengthen our management team. With an extensive background in the securities industry, Cyrus is a strong addition. We are very pleased to welcome Cyrus to the role of CFO and director and will value his experience, guidance, and direction with finance, regulatory, and accounting matters as we continue to move forward.”
Mr. Driver will replace Mr. Shawn Noe as Director, who has resigned to allow for Mr. Driver’s appointment. Mr. Noe has agreed to stay on as a consultant and NGE wishes to thank him for his services.
Pursuant to NGE’s stock option plan and subject to TSX Venture Exchange Approval, NGE's Board of Directors has granted Mr. Driver 600,000 incentive stock options, exercisable for up to five years at a price of $0.17 per share.
ABOUT NEVADA EXPLORATION INC.
NGE is an exploration company focused on gold in Nevada. NGE is led by an experienced and historically successful exploration management team. NGE has developed a proprietary groundwater chemistry exploration technology to explore for gold in Nevada’s covered basins where traditional exploration techniques are challenged. NGE has completed the first ever comprehensive survey of Nevada’s groundwater focused on discovering new gold deposits, and has demonstrated that Nevada’s gold deposits exhibit recognizable and measurable groundwater chemistry signatures. NGE has used its proprietary technology to identify, acquire, and develop 11 new exploration properties exhibiting groundwater chemistry similar to known gold mines, and NGE is applying a standardized, staged exploration program at each property.
NGE has completed Phase I drilling at three of its properties and has discovered new, previously unknown, geochemically anomalous, hydrothermal systems at all three. With these results, NGE has demonstrated that its groundwater chemistry exploration program can identify new, high quality exploration targets in previously unexplored areas. Now that NGE has established groundwater chemistry as a valuable and important exploration technology, NGE plans to focus on matching its drill-ready properties with exploration partners. By leaving the later, more-traditional exploration stages for our partners, NGE plans to focus on leveraging its investment in groundwater chemistry exploration technology to identify and advance more new exploration properties, and to establish itself as a source of high quality, drill ready exploration properties for the mining industry.
For further information please visit our website at www.NevadaExploration.com or contact:
Wade A. Hodges,
President & CEO
Nevada Exploration Inc.
Tel: (775) 359-7740
Fax: (775) 359-7741
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.