Nevada Exploration Inc. Announces Closing of Oversubscribed Financing

Nevada Exploration Inc. (TSXV:NGE; OTCQX:NVDEF) announced that it has closed, subject to final TSX Venture Exchange approval, the non-brokered private placement offering announced on June 23, 2016 , having increased the size of the Offering from 4,285,715 units to 5,000,000 units at a price of $0.35 per Unit, for total gross proceeds of $1,750,000.
Proceeds from the offering will be used to advance NGE’s exploration projects, as well as for general working capital.
Nevada Exploration President, James Buskard, stated:

We are very pleased by the strong support we are receiving for our gold exploration program in Nevada.  With these funds, we are well positioned to deliver on a comprehensive 2016 exploration program, the highlight of which will be the commissioning of our own truck-mounted small diameter reverse circulation drill rig, which we understand to be the first such rig in Nevada.  With its commissioning, we expect to radically reduce the cost of early stage drilling in Nevada, and by continuing to lower the costs of exploring Nevada’s highly prospective yet under-explored covered basins, our goal remains to maximize the Company’s exposure to the upside of discovering new gold deposits in Nevada.