Nevada Exploration Inc. provided an update from its ongoing core drilling program at South Grass Valley, including assay results from drill hole SGVC005 and early logging from hole SGVC006. As wide-spaced step-outs, SGVC005 and SGVC006 now establish that the thick intervals of “lower-plate” carbonate host rocks exhibiting intense hydrothermal-alteration and significant concentrations of Carlin-type gold deposit (CTGD) pathfinder elements seen in holes SGVC002, SGVC003, and SGVC004 (together defining a NNW-SSE strike length of at least 2,500 metres), extend at least 400 metres in an E-W direction. By adding this third dimension (width), these results further quantify the large scale of this important new exploration target. SGVC005, located 400 metres west of SGVC004, encountered a sequence of carbonaceous and calcareous lower-plate stratigraphy right from the top of bedrock at 159 metres (below the gravels) to the bottom of the hole at 595 metres, including an intensely-altered 100-metre-thick debris-flow breccia unit containing secondary pyrite and multiple cross-cutting fracture zones. Similar to SGVC004, the assay results for SGVC005 show anomalous and highly-anomalous Carlin-type gold deposit pathfinder elements across a thick (225 metre) interval, with increasing gold and pathfinder values within narrow fractures (gold up to 132 ppb, thallium up to 1.79 ppm, antimony up to 326 ppm, mercury up to 2.69 ppm, and arsenic up to 1,000 ppm, together the higher concentrations seen at the Project to date). From SGVC005, at the south end of the Project, NGE returned to the north end of the Project for SGVC006, 600 metres northwest of SGVC002. SGVC006 entered lower-plate limestone at 158 metres below the gravels, which continued to the bottom of the hole at 650 metres. The upper part of SGVC006 showed alteration features similar to the upper part of SGVC002, with decalcification, dissolution, and disruption textures. The bottom 230 metres of SGVC006 encountered black, carbonaceous, debris flows with significant diagentic pyrite exhibiting intense silicification, brecciation and high levels of secondary pyrite. Together the alteration seen in SGVC006 suggests these units were subject to significant hydrothermal fluid flow. All SGVC006 core samples have now been submitted for assay. Once the assay results from SGVC006 are available and the logging is complete, the Company expects to provide a detailed summary of the results from this initial six-hole program and its plans for the next phase of drilling at the Project.