VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - Nevada Exploration Inc. ("NGE") (TSX VENTURE:NGE) is pleased to announce that it has (1) appointed John Ryan as a Director; (2) appointed David Carbonaro as Corporate Secretary; (3) added Wes Roberts to NGE's Advisory Board; (4) engaged Ubika Corporation as an Investor Relations consultant; (5) granted incentive stock options; and (6) repriced previously granted incentive stock options.
Mr. Wade Hodges, NGE's President & CEO reports: "We are excited to add several distinguished professionals to our team. Collectively they bring considerable strategic depth in corporate finance, governance, and technical oversight, and their industry contacts are a good fit for NGE. We look forward to working with them to identify and take advantage of new opportunities to create value for our shareholders."
(1) John Ryan, NGE's new director, is a Certified General Accountant and a financial consultant with over 30 years of corporate and financial management experience. Mr. Ryan is currently the President of Nichange Enterprises Ltd., a financial consulting company; President and CEO of Spruce Ridge Exploration, an Ontario based mineral exploration company focused on gold and uranium; and the interim CFO of Golden Dory Resources Corp., a Canadian based junior exploration company focused on gold exploration in North America. Mr. Ryan will replace Mr. John "Jack" Tindale as Director, who has resigned to allow for Mr. Ryan's appointment. NGE wishes to thank Mr. Tindale for his years of service, and is pleased to report that he has agreed to continue to provide guidance as a member of NGE's Advisory Board.
(2) David Carbonaro, LLB, NGE's new corporate secretary, is a partner in the Toronto business law group of Heenan Blaikie LLP and has been practicing corporate finance, international, and mining law for over 24 years. As a member of Heenan Blaikie's mining group, he has acted for mining company clients and resource investment firms with interests around the world, and he brings to NGE a wealth of contacts and expertise in advising and financing public mining companies.
(3) Wes Roberts, PEng, NGE's new Advisory Board member, is a professional engineer specializing in the economic evaluation and development of mineral deposits. With more than 25 years of experience in mineral exploration, mining operations, project engineering, and management, Mr. Roberts brings a diverse technical knowledge base and extensive industry contacts. Mr. Roberts is currently a Vice-President of Heenan Blaikie's mining advisory affiliate in Toronto. Prior to joining Heenan Blaikie, he held numerous positions in mining operations, as well as in mining engineering consulting services, the most recent of which was Vice-President of Corporate Development at Breakwater Resources Ltd.
(4) Ubika Corporation ("Ubika"), NGE's new Investor Relations consultant, is a specialized research, analytics, and capital market services company with operations in Toronto and Vancouver, Canada. NGE has engaged Ubika to provide research coverage and capital market exposure services, subject to TSX Venture Exchange approval. Specifically, Ubika will communicate with its network of brokers, retail advisors, investors, and other members of the resource investment community to raise NGE's market awareness and build new relationships by: (a) preparing and distributing research reports; (b) organizing and conducting presentations on the NGE's properties and exploration methods; and (c) creating a NGE profile on Ubika's flagship website portal www.smallcappower.com, a leading interactive forum that brings investors and financial industry professionals together to discover and communicate with small cap companies. NGE has engaged Ubika for a six month term, commencing August 10, 2011, which may be extended subject to the written agreement of both parties. In consideration for Ubika's services, Nevada Exploration will pay Ubika a fee of $5,000 per month and will grant Ubika incentive stock options to acquire 250,000 common shares of the Company at an exercise price of $0.10 per share for a period of five years, vesting over 12 months, with 25% vesting after each three month period.
(5) Pursuant to NGE's stock option plan, NGE granted an additional 2,250,000 incentive stock options to directors, officers, and consultants of the Company at a price of $0.10 per share for a period of five years.
(6) Subject to disinterested shareholder and TSX Venture Exchange approval, NGE's Board of Directors has approved the repricing of 2,450,000 previously granted incentive stock options held by officers and directors of the Company with exercise prices between $0.15 and $0.17 per Common Share to $0.10 per Common Share.
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 "blind 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 nine new gold projects, and with over 20,000 hectares (75 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.
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.
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.