TSX.V: NGE www.nevadaexploration.com

RENO, Nevada, June 9, 2022 (GLOBE NEWSWIRE) — Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) is pleased to provide an update from the ongoing core drilling program at its South Grass Valley Carlin-type gold project (the “Project”) located 50 kilometres south-southwest of Nevada Gold Mines’ Cortez complex.

Drillhole SGVC014 was stopped in early May at 575 metres due to the drill steel breaking at 347 metres (~228 metres above the bottom of the hole), which NGE’s drill contractor Drill NV believes was the result of ongoing challenges associated with voids within the bedrock. Drill NV has restarted drilling in this location with drillhole SGVC014A, has successfully installed PQ-sized drill rods to a depth of 356 metres to effectively case off the challenging interval, and is now continuing to core drill with HQ rods. SGVC014A is presently at a depth of 640 metres.

NGE has now completed logging and collecting pXRF-derived geochemistry from the core from SGVC014 (core samples collected from 359 to 575 metres). As suggested by the early logging, the observations and data from the completed logging are consistent with the Company’s exploration model at this south end of the project.

NGE is pleased to welcome its stakeholders to visit with its team at the upcoming Prospectors & Developers Association of Canada (PDAC) 2022 conference:

LOCATION: Toronto, Ontario DATES (IN PERSON): Monday to Wednesday, June 13-15, 2022 DATES (ONLINE): Tuesday & Wednesday, June 28-29, 2022

REGISTRATION & INFO: https://www.pdac.ca/convention NGE BOOTH: 2527 NGE PRESENTATIONS:

Led by an international team of proven explorers, NGE is disrupting Nevada’s exploration industry by applying new technology to systematically explore for the second half of Nevada’s gold endowment waiting to be discovered beneath Nevada’s valley basins. NGE is advancing a portfolio of new gold exploration projects, primarily focused on three district-scale Carlin-type gold projects, which includes its flagship South Grass Valley project where it is currently drilling 50 kilometres south-southwest of the Nevada Gold Mines (Barrick Gold Corp. and Newmont Corporation joint venture) Cortez complex.

For more information, Nevada Exploration’s latest videos are available at: https://www.nevadaexploration.com/investors/media/

For further information, please contact:

Nevada Exploration Inc. Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Telephone: +1 (604) 601 2006 Website: www.nevadaexploration.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Wade A. Hodges, Chief Discovery Officer and Director, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and has prepared the technical and scientific information contained in this News Release.

Cautionary Statement on Forward-Looking Information:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures discussed in this release.

In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue to be able to access the capital required to advance its projects and continue operations. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.

A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

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