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VANCOUVER, April 25 /CNW/ - Network Exploration Ltd. (the "Company") (TSX.V: NET.H) reports that the TSX Venture Exchange has accepted the Company's Caldera Project, located in Region III, Atacama, Chile, as a property of merit to be used by the Company as its qualifying property for graduation from NEX to Tier 2 of the TSX.
The Company will now proceed to take all additional steps for Tier 2 graduation. This will include submission of the reactivation application and updating of the NI 43-101 Technical report describing the property's geology and work programs. The report will be updated by Professional Engineer Mr. Peter Folk, a Qualified Person to author the NI 43-101 report and will be submitted as soon as possible.
Director of International Operations Mr. Richard Schnoor states, "We are very pleased with this decision as it positions Network one step closer towards reactivation and exposure to a much larger investment community. Timing couldn't be better as we enter into our upcoming drill program."
The Caldera property is located in the Huasco Province of Region III Chile in the mineral-rich Andes Mountains. It has been host to numerous historical surface mining operations and bears the characteristics of a copper and gold porphyry. The Company optioned the property in 2006 after a thorough review of available data including that of Noranda's trench and drill programs of 1995. After performing a series of sampling programs, re-assaying of drill cores and geological mappings, Network Exploration's senior management has re-assessed the geological composition at Caldera and identified a number of gold and copper targets on the property for its upcoming drill program.
Network Exploration Ltd. is a mineral exploration Company committed to building shareholder value through the acquisition of base and precious metal properties in North and South America.
ON BEHALF OF THE BOARD OF DIRECTORS
"Alexander Helmel"
President
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THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE. This news release contains certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other than statements
of historical fact, included herein are forward-looking statements that
involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially
from the Company's expectations are disclosed in the Company's documents
filed from time to time with the British Columbia Securities Commission
and the United States Securities & Exchange Commission.
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