Nevada Exploration Inc. announces that the Company proposes to extend the expiry date of a total of 7,970,000 share purchase warrants, all of which are exercisable at $0.30 per share. The Warrants were issued pursuant to a private placement that closed in two tranches on August 29, 2018, and September 7, 2018, and currently expire on February 28, 2021, and March 7, 2021 (collectively, the “Warrants”). The Company proposes to extend the expiry dates of the Warrants for one additional year, as follows:
– The 5,186,000 Warrants expiring on February 28, 2021 (5,156,000 are currently still outstanding), will be extended to February 28, 2022; and
– The 2,814,000 Warrants expiring on March 7, 2021, will be extended to March 7, 2022.
All other terms and conditions of the Warrants remain unchanged, including the accelerated expiry provision whereby if the closing price of the common shares of NGE quoted on the TSX Venture Exchange is greater than $0.50 for 10 consecutive trading days, NGE may accelerate the expiry date of the Warrants to the 30th day after the date on which NGE gives notice to the Warrant holders of such acceleration.
The Warrant extension is subject to acceptance by the TSX Venture Exchange.
About Nevada Exploration Inc.
With mature, exposed search spaces seeing falling discovery rates, NGE believes the future of exploration is under cover.
The Company has spent 15 years developing and integrating new hydrogeochemistry (groundwater chemistry) and low-cost drilling technology to build an industry-leading, geochemistry-focused, under-cover toolkit specifically to explore for new gold deposits in the more than half of Nevada where the bedrock is hidden beneath post-mineral cover. Nevada’s exposed terrains have produced more than 200 Moz of gold, and experts agree there is likely another +200 Moz waiting to be discovered under cover in Nevada.
NGE has completed the world’s largest hydrogeochemistry exploration program, focused on north-central Nevada, and is now advancing a portfolio of new projects in the heart of the Cortez (Battle Mountain-Eureka) Trend.
NGE’s most-advanced project is South Grass Valley, located south of Nevada Gold Mines’ Cortez Complex. Based on the Company’s work to date at the project, NGE believes it has discovered a mineral system at South Grass Valley with the architecture and scale to support multiple Carlin-type gold deposits (CTGDs), and the potential to host an entire new district. NGE believes South Grass Valley is one of the most exciting new district-scale, Carlin-type projects in Nevada.
For more information, the Company’s latest videos are available at:
For further information, please contact:
Nevada Exploration Inc.
Telephone: +1 (604) 601 2006