LAVAL, QUEBEC--(Marketwire - May 25, 2011) -NQ Exploration Inc. (TSX VENTURE:NQE) announces the second and final closing of a brokered private placement by Industrial Alliance Securities Inc. (the "Agent") for total gross proceeds of $198,000 (the "Placement").

Under the terms of this Placement, NQ issued a total of 1,650,000 units (the "Units") at a price of $0.12 per Unit. Each unit consists of one common share and one warrant (a "Warrant"), each Warrant entitling the holder thereof the right to purchase one common share of NQ at the price of $0.16 per share for a period of 24 months from Closing, subject to an acceleration provision if the price of the common shares of NQ listed on the TSX Venture Exchange Inc. is above $0.30 for a period of 20 consecutive trading days. In this event, the Warrants must be exercised or will expire thirty calendar days after notice is mailed to the holders of Warrants.

Under the Placement, NQ paid the Agent a cash commission of 8.5% of the Gross Proceeds and issued a total of 115,500 non-transferable broker warrants (the "Broker Warrants"). Each Broker Warrant entitles the holder thereof the right to purchase one common share of NQ at a price of $0.12 per share for a period of 24 months from the Closing. The securities issued under this Placement will be subject to a four-month and one day hold period expiring on September 26, 2011.

The proceeds of the Offering combined, with existing working capital, will be used by NQ to conduct exploration programs in 2011 and for general working capital.

The Company announces the appointment of Nathalie Laurin as corporate secretary of the Company. Nathalie Laurin has worked as an administrative assistant and accounting technician since 1987. She began working for a securities firm in 1993, where she became familiar with the financial industry. From 1998 to 2006, she worked for a company in a combined position of administrative assistant, accounting technician and project management. Ms. Laurin has been self-employed since March 2006, providing bookkeeping, audit file preparation and follow-up services for legal, regulatory and administrative matters. Her work experience enables her to maintain close professional relations with various people involved in the financial and natural resources industries.

The Company also announces it has increased by 1,016,706 the number of common shares reserved for issuance pursuant to its stock option plan. The number of common shares reserved for issuance under the Plan is now set at 6,486,706 being 10% of the number of shares issued and outstanding as of the date hereof. The increase is subject to the approval of the TSX Venture Exchange.


NQ Exploration Inc. is a new mining exploration company with a solid portfolio of 11 mining properties in the James Bay and Abitibi regions of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold and base metal deposits.

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.

Contact Information:

David Grondin
President and Chief Executive Officer
(514) 206-7727