NGE Nevada Exploration Inc

Nevada Exploration Inc. ("NGE") (TSX VENTURE:NGE) is pleased to announce that it
has closed, subject to TSX Venture Exchange final approval, the non-brokered
private placement ("Offering") previously announced on December 5, 2012. NGE has
issued 10,000,000 Units at a price of $0.10, for gross proceeds of $1,000,000.
Each Unit consists of one common share and one-half of one non-transferable
common share purchase warrant. Each whole warrant will entitle the holder to
purchase one common share at an exercise price of $0.15 for a period of one
year, subject to an accelerated expiry provision described below (the
"Warrants"). All shares issued are subject to a four month hold period expiring
April 25, 2012, as well as to any other re-sale restrictions imposed by
applicable securities regulatory authorities. The proceeds of this tranche will
be used to advance NGE's exploration projects and for general working capital.


If on any 20 consecutive trading days after the issuance of the Units, the
closing sales price (or closing bid price on days when there are no trades) of
the common shares of NGE quoted on the TSX Venture Exchange is greater than
$0.25, NGE may accelerate the expiry date of the Warrants to the 30th day after
the date on which NGE gives notice to the Warrant holder of such acceleration. 


In conjunction with the Offering, NGE paid finders' fees to arm's length parties
totalling $36,920 in cash and issued 369,200 Broker Warrants exercisable under
the same terms as those warrants issued as part of the Units in the Offering.
All Broker Warrants are subject to a four month hold period expiring April 25,
2012.


The securities issued by NGE have not and will not be registered under the
United States Securities Act of 1933, as amended (the "1933 Act"), or the
securities laws of any state of the United States, and may not be offered or
sold in the United States absent registration or an applicable exemption
therefrom under the 1933 Act and the securities laws of all applicable states.


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 covered 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 13,500 hectares (52 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Nevada Exploration Inc.
James Buskard
Vice President Corporate Development
(775) 359-7740
info@nevadaexploration.com
www.nevadaexploration.com

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