Nevada Exploration Reports the Results of 2023 Annual General and Special Meeting

Rhea-AI Summary

Nevada Exploration Inc. (OTCQB: NVDEF) held its annual general and special meeting on January 24, 2023, with 56,988,783 shares represented, accounting for 33.697% of outstanding shares. All shareholder motions were approved, including:

• Appointment of six directors with approval rates between 88.499% and 98.271%.
• Appointment of an auditor, receiving 97.562% approval.
• Amended stock option plan approved at 91.993%.
• Share consolidation approved at 90.881%.

Nevada Exploration continues its systematic exploration efforts for gold within Nevada's valley basins, focusing on its flagship South Grass Valley project.

Positive

• All shareholder resolutions were approved, indicating strong support for management.
• High approval rates for directors range from 88.499% to 98.271%, reflecting shareholder confidence.
• Appointment of auditor received 97.562% approval, ensuring compliance and transparency.
• Amended stock option plan approved at 91.993%, potentially enhancing employee incentives.
• Share consolidation approved at 90.881%, possibly improving share liquidity.

Negative

• None.

VANCOUVER, British Columbia, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) reports the results of its annual general and special meeting (the “Meeting”) of shareholders held on January 24, 2023 in Vancouver, British Columbia.

All motions presented to the shareholders were approved.

A total of 56,988,783 shares were represented in person or by proxy at the meeting, being 33.697% of the issued and outstanding shares at the record date. A summary of the Meeting results is outlined below.

Motion	Number Voted For	Percentage Voted For
Number of Directors	39,110,940	98.271%
Darcy Higgs as Director	35,221,987	88.499%
Anne Labelle as Director	35,190,163	88.419%
John Larson as Director	35,407,663	88.966%
Benjamin Leboe as Director	37,817,399	95.021%
Nancy Richter as Director	37,736,365	94.817%
Appointment of Auditor	49,053,215	97.562%
Amended and Restated Stock Option Plan	36,612,466	91.993%
Share Consolidation	45,694,169	90.881%

About Nevada Exploration Inc.

Led by an international team of explorers, NGE is applying modern technology to systematically explore for the undiscovered second half of Nevada’s gold endowment waiting to be uncovered within Nevada’s valley basins. NGE is advancing a portfolio of gold exploration projects, primarily focused on three district-scale Carlin-type gold projects, including its flagship South Grass Valley project, located in close proximity to the Nevada Gold Mines of the Cortez Complex.

For further information, please contact:

Nevada Exploration Inc.
Email: info@nevadaexploration.com
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.

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.

FAQ

What were the results of the Nevada Exploration Inc. annual meeting on January 24, 2023?

All motions presented were approved with high support from shareholders.

How many shares were represented at the Nevada Exploration Inc. meeting?

A total of 56,988,783 shares were represented, which is 33.697% of outstanding shares.

What was the approval rate for directors at Nevada Exploration Inc.'s meeting?

Approval rates for directors ranged from 88.499% to 98.271%.

What percentage of shareholders approved the appointment of an auditor?

The appointment of an auditor received 97.562% approval.

Was the share consolidation approved at Nevada Exploration Inc.'s annual meeting?

Yes, the share consolidation was approved at 90.881%.