Nevada Exploration Inc. Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 23, 2016) - Nevada Exploration Inc. ("NGE" or the "Company") (TSX VENTURE:NGE)(OTCQX:NVDEF) announces a non-brokered private placement offering of up to 4,285,715 units (the "Units") at a price of $0.35 per Unit (the "Offering"), for total gross proceeds of up to $1,500,000. Each Unit will consist 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 $0.60 for a period of 18 months.

Proceeds from the offering will be used to advance NGE's exploration projects, including its Kelly Creek Project where NGE has recently increased its land position, as well as for general working capital. For information about NGE's Kelly Creek Project, please refer to an updated Kelly Creek Project presentation available on the Company website: http://www.nevadaexploration.com/_resources/presentations/Kelly_Creek_Presentation_2016-06-23.pdf

The Offering is subject to receipt of all necessary regulatory and TSX Venture Exchange approvals. The securities issued at closing of the Offering will be subject to a four month plus one-day hold period from the date of issue, as well as to any other re-sale restrictions imposed by applicable securities regulatory authorities.

It is anticipated that insiders of NGE will also participate in the private placement on the same terms and conditions as arm's length subscribers. Subject to approval by the TSX Venture Exchange and applicable securities legislation, NGE may pay finder's fees in accordance with the TSX Venture Exchange Policies.

About 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 technology in covered deposit exploration to identify, acquire, and advance new exploration properties in Nevada's highly prospective yet underexplored covered basins. NGE has developed proprietary hydrogeochemistry (groundwater chemistry) exploration technology to explore for gold in Nevada's covered basins where traditional exploration techniques are challenged.