Network Exploration not to proceed with Huevos Rojos Option Agreement
Network Exploration Ltd. announces that it is not proceeding with the Option Agreement for the Huevos Rojos project in Peru and is continuing its campaign to identify and acquire mineral exploration properties in South America.
The Company sees the growing supply of under-valued exploration projects becoming available in South America as an opportunity to increase shareholder value by means of acquisition or joint venture agreement. Accordingly, after careful consideration of the Company’s recent due diligence at Huevos Rojos and the current market environment, Network Exploration’s management believes the Company is better suited not entering into the Option Agreement for the Huevos Rojos project and continuing to look at acquisition candidates.
“Our extensive network in South America is seeing a steady stream of quality projects becoming available for acquisition,” states Mr. Richard Schnoor, Director of International Operations. “We are committed to increasing shareholder value by proving out resources at our current properties and acquiring exceptional new projects to complement our existing portfolio.”
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 604 638-7363 (toll free 866 637-5138) or visit the Company’s website: www.networkexploration.com.
