Enexco Begins Drilling at Nevada Exploration’s Hot Pot Property
July 2, 2009
Nevada Exploration Inc. (“NGE”) (TSX-V:NGE) is pleased to announce that International Enexco Ltd. (“Enexco”) (TSXV - IEC) has mobilized a core drilling rig to NGE’s Hot Pot Property and is now drilling. As previously announced, Enexco and NGE have entered into an Exploration Agreement whereby Enexco can earn a 51% interest in the Hot Pot Property by drilling 6,000 meters (19,600ft) over three years, with the option to earn an additional 19%, for 70% total, by drilling another 3,000 meters (9,800ft) during the fourth year.
Wade Hodges, President and CEO, has visited Enexco’s drilling operations at Hot Pot and reports: “So far, drilling at Hot Pot is going smoothly and progressing well. With their first drill hole, Enexco’s drilling crews have demonstrated that they can successfully angle-drill through several hundred feet of overburden to bedrock. Enexco’s drilling equipment is well maintained, and the drill site is clean and well organized. We are very happy to be involved with such a professional drilling outfit and are looking forward to working with Enexco here at Hot Pot.”
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
Wade A. Hodges is the Qualified Person, as defined in National Instrument 43-101, and is responsible for the preparation of the technical and scientific information contained in this News Release.
The TSX-V has in no way passed upon the merits and does not accept responsibility for the adequacy or accuracy of this press 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.