VANCOUVER, July 9 /CNW/ - Network Exploration Ltd. (the "Company") (TSX.V: NET) is pleased to announce that it has acquired additional property in southern Peru that will complement the company's existing Pistala property. The newly staked area - Pistala Sur - hosts copper oxide staining over a 100m by 100m area and is positioned south of the original Pistala claim blocks in the province of Tacna, Peru.
Pistala Sur is a copper-gold-molybdenum target covering 1300 hectares. It is located approximately 5 kilometers south of the Company's Pistala property within the Incapuquio-Challaviento fissure fault system which hosts world class deposits including the Cucajone, Toquepala, and the Cerro Verde/Santa Rosa deposits. Pistala Sur is located south of an intense semi-circular zone of hydrothermal alteration and at the western margin of a tectonic zone delimited by two regional faults.
The Company's Pistala property is located adjacent to projects led by Australia's Western Metals and Apex Silver from the United States. Western Metals has announced a 2,500 meter drilling program for 2008.
First phase exploration conducted at the Pistala property earlier this year entailed geological mapping at a scale of 1:10,000 over approximately 2300 hectares, as well as the collection of 96 samples. Anomalous and sub-anomalous values of copper and gold were found in two definitive zones, including 25 samples of gold that assayed 10 or more ppb, and 11 samples that assayed over 100 ppm of copper.
Network Exploration Ltd. is a mineral exploration Company committed to building shareholder value through the acquisition and exploration of base and precious metal properties in North and South America. For additional information please visit www.networkexploration.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Alexander Helmel"
President
Forward looking Statements. This news release has been prepared by management. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements.
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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