VANCOUVER, British Columbia, Sept. 20, 2006 (PRIMEZONE) -- Network Exploration Ltd. (the "Company") (TSX-V:NETH) (Other OTC:NETYF) today reported that the over-limit sample announced in the news release of August 2, 2006 has returned a 1.67% copper assay value and the Company will be launching an exploration program at the Caldera property in Chile.
Mr. Richard Schnoor, Director of International Operations states, "We are very excited by the high 1.67% copper assay result, since a number of major copper mines in the Andes Mountains are producing at a copper grade of 0.5%. We will be immediately following this with an exploration program in this specific area."
As reported August 2, 2006, grab samples were taken by Mr. Marco Fernandez-Concha, the Company's senior geologist, in May 2006 during a due diligence visits to the property. The samples, including the 1.67% copper result, were taken over a 700 meter strike length of an identified geological structure connecting several placer mines and outcrops on the property. The returned assay results confirm the presence of anomalous gold and copper values on the property and are in one of the areas of interest to be covered in the Company's upcoming exploration program.
Commencing September 25, 2006 senior geologist Mr. Marco Fernandez-Concha will supervise an exploration team to perform a two-week program in preparation for the Company's upcoming drill program at the Caldera property. The team will be performing a series of sampling programs and surveys to verify some of the past sample data collected in Noranda's '92-'94 exploration program and to collect further information to help define drill targets.
On July 12, 2006, the Company signed a Memorandum of Understanding to option a 50% interest in the Caldera property located in the mineral-rich Huasco province of Chile. Based on historical occurrences of gold and copper deposits in similar geological settings within the Andes Mountains, the Company is confident that there exists a strong potential for the Caldera project to host a series of economic gold or copper ore bodies on this property.
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. For additional information, contact the company at (604) 495-6302 or visit the Company's website: www.networkexploration.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Alexander Helmel" Chairman of the Board
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 and Exchange Commission.