Nevada Exploration Inc. Announces Private Placement Financing, Engages Palisade Global, and Grants Options

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 3, 2016) - Nevada Exploration Inc. ("NGE" or the "Company") (TSX VENTURE:NGE)(OTCQX:NVDEF) announces a non-brokered private placement offering of up to 2,000,000 units (the "Units") at a price of $0.3525 per Unit (the "Offering"), for total gross proceeds of up to $705,000. Each Unit will consist of one common share and one-half of one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of $0.60 for a period of 18 months. Proceeds from the offering will be used to advance NGE's exploration projects.

The Offering is subject to receipt of all necessary regulatory and TSX Venture Exchange approvals. The securities issued at closing of the Offering will be subject to a four month plus one-day hold period from the date of issue, as well as to any other re-sale restrictions imposed by applicable securities regulatory authorities.

It is anticipated that insiders of NGE will also participate in the private placement on the same terms and conditions as arm's length subscribers. Subject to approval by the TSX Venture Exchange and applicable securities legislation, NGE may pay finder's fees in accordance with the TSX Venture Exchange Policies.

Palisade Global

Additionally, the Company announces that it has engaged Palisade Global Investments Ltd. ("Palisade") to perform certain financial and investor relations consulting services to introduce the Company's industry leading gold exploration program in Nevada to a broader audience.

Palisade is an offshore merchant banking group, headed by Collin Kettell and Sean Zubick, specializing in increasing liquidity and sourcing financing for high growth, small cap investments through a global network of private equity groups, fund managers, and high-net-worth and retail investors. The scope of the engagement will include: road shows, networking events, newsletter engagement, email dissemination, online and social media, and informational spots on Palisade Radio, the fastest growing online radio show in the junior mining and small cap space with more than 35,000 viewers a week (www.palisaderadio.com). Palisade is also an active investor in the mineral sector, and purchased 300,000 Units in the Company's most recent private placement, for a total investment of $105,000.

The Company has engaged Palisade for up to 18 months, for a fee of $8,350 per month, the first six months of which is payable in advance, after which time the Company has the right to cancel the engagement.

Stock Options

The Company has granted the following stock options ("Options") to acquire common shares of the Company pursuant to the Company's Stock Option Plan (the "Plan"): 1,020,000 to officers and directors of the Company; 100,000 to Palisade; and 400,000 to Future Money Trends, LLC. The Options have an exercise price of $0.47, and vest according to the following schedule: one-third vesting on February 3, 2017 (six months); one-third on August 3, 2017 (one year); and one-third on August 3, 2018 (two years). The Options will expire in accordance with the Plan and not later than February 2, 2026.

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 has developed proprietary hydrogeochemistry (groundwater chemistry) exploration technology to explore for gold in Nevada's covered basins where traditional exploration techniques are challenged. NGE is aggressively applying this latest technology in covered deposit exploration to identify, acquire, and advance new exploration properties in Nevada's highly prospective yet underexplored covered basins.

Using its industry-leading exploration technology, NGE has assembled a portfolio of new gold projects, and has established itself 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 and development.

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 news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures discussed in this release.

In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue to be able to access the capital required to advance its projects and continue operations. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

In addition, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. 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.

A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Contact

Investor Relations
Nevada Exploration Inc.
info@nevadaexploration.com
+1 (604) 601 2006
www.nevadaexploration.com