Nevada Exploration Announces Stock Consolidation

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VANCOUVER, British Columbia, February 01, 2023 (GLOBE NEWSWIRE) — Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) announces that it intends to complete its share consolidation ( the “Consolidation”) of its common shares (“Common Shares”) on a basis of twenty-five (25) pre-consolidation common shares for one (1) post-consolidation common share. The Merger was approved by the Company’s stockholders at a meeting duly held on January 24, 2023 and was disclosed in the Company’s press release dated January 25, 2023. The proposed merger will increase the number of common shares outstanding from 169,121,620 to 6,764,865.

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The Consolidation is subject to TSX Venture Exchange (“Exchange”) approval. The consolidation cut-off date will be determined upon receipt of exchange approval for consolidation.

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The Company will issue a further press release confirming the record date and the effective date of the consolidation. The merger is expected to take effect in mid-February 2023.

About Nevada Exploration Inc.

Led by an international team of researchers, NGE is applying modern technology to systematically explore for the undiscovered second half of Nevada’s gold deposits awaiting discovery in the Nevada valley basins. NGE is advancing a portfolio of gold exploration projects primarily focused on three district-wide Carlin-style gold projects, including its flagship South Grass Valley project, located in close proximity to the Cortez complex’s Nevada gold mines.

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For more information please contact:

Nevada Exploration Inc.
Email: [email protected]
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com

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 Regarding Forward-Looking Information:

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, but not limited to, expectations, beliefs, plans and objectives with respect to projects, potential transactions and endeavors to be discussed in this press release.

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In connection with the forward-looking information contained in this press release, the Company has made numerous assumptions, including with respect to believing that the Company can continue as a going concern and continue to access the capital necessary to further develop its projects and continue operations. While the Company believes these assumptions are reasonable, by their nature, these assumptions are subject to significant uncertainties and contingencies.

In addition, there are known and unknown risk factors that could cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include the risks associated with mineral exploration, the need for additional financing, environmental permits, the availability of personnel and equipment needed for exploration and to obtain development, price fluctuations in minerals and general economic conditions.

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A more complete discussion of the risks and uncertainties faced by the Company is included in the Company’s ongoing disclosure filings with Canadian securities regulators at www.sedar.com. All forward-looking information contained herein is subject to this cautionary statement in its entirety, and the Company disclaims any obligation to revise or update such forward-looking information or to publicly announce the result of any changes to the forward-looking information contained herein to reflect future results, events or to reflect developments unless required by law.

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