VANCOUVER, March 7 /CNW/ - Network Exploration Ltd. (the "Company") (TSX.V: NET.H) reports that it has recently returned from a successful property inspection trip in Southern Peru where the Company has staked, subject to final government approval, a 100% interest in the 1,600 hectare Pistala property where it will be targeting a porphyry system.
Located east of the major NW-SE trending Incapquio fault system in Southern Peru, the property is in the same metallogenic belt region as other world class deposits. The Cerro Verde/Santa Rosa, Cuajone, and Topuepala mines are located approximately 150Km North West of the property where they are mining copper at grades ranging from .3% to .74%, and lie within the same cretaceous Toquepala group of rocks as the Pistala property.
"We are extremely pleased to have acquired such an outstanding property and we're looking forward to an aggressive exploration program in mid 2007," states Director of International Operations Mr. Richard Schnoor.
The Pistala property is immediately adjacent to claims owned by the Australian mining company Western Metals and Apex Silver Mines Ltd. - an active exploration and mining company based in Colorado. The acquisition was based on the Company's review of historical data which suggests that there could be potential for a large porphyry deposit hosting copper, molybdenum, and gold.
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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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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