|By Marketwired .||
|December 10, 2013 08:07 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/10/13 -- Nevada Exploration Inc. (TSX VENTURE: NGE) ("NGE") is pleased to announce that it is seeking approval from the TSX Venture Exchange (the "Exchange") to amend the terms of certain warrants which would otherwise expire on December 24, 2013.
Specifically, subject to Exchange approval, NGE plans to extend the exercise date of the 5,000,000 warrants issued as part of NGE's December 2012, 10,000,000 Unit financing (the "Warrants"), from December 24, 2013 (12 months), to December 24, 2014 (24 months). All other provisions of the Warrants remain unchanged, including the exercise price of $0.15, and the accelerated expiry provision whereby if on any 20 consecutive trading days the closing sales price (or closing bid price on days when there are no trades) of the common shares of NGE quoted on the Exchange is greater than $0.25, NGE may accelerate the expiry date of the Warrants to the 30th day after the date on which NGE gives notice of such acceleration.
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 is aggressively applying the latest in covered deposit exploration technology to identify, acquire, and advance new exploration properties in Nevada's highly prospective, yet underexplored covered basins. Specifically, NGE has developed proprietary hydrogeochemistry (groundwater chemistry) exploration technology to explore for gold in Nevada's covered basins where traditional exploration techniques are challenged.
Using its industry leading exploration technology, NGE has assembled a portfolio of new gold projects, and with interests in 135 square kilometres (52 sq mi), is evolving as a major player in this world class jurisdiction. NGE's business model is to leverage its properties and technology to create shareholder value through generative exploration, joint ventures, and other exploration partnerships.
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.
Nevada Exploration Inc.
Vice President Corporate Development