VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2010) - Nevada Exploration Inc. ("NGE") (TSX VENTURE:NGE) announced today that its Board of Directors have approved the steps necessary to amalgamate with its wholly-owned subsidiary, 2107189 Ontario Inc. ("Ont Co"). Pursuant to the amalgamation, all of the issued and outstanding shares of Ont Co will be cancelled and the assets, obligations and liabilities of Ont Co will be assumed by the NGE. No securities of NGE will be issued in connection with the amalgamation and the share capital of the NGE will remain the same. The amalgamation of NGE and Ont Co will be undertaken in order to simplify the corporate structure of NGE and to reduce administrative costs. The amalgamation will not have any significant effect on the business and operations of the Corporation. The amalgamation is to take the form of a vertical short-form amalgamation, to be completed pursuant to the Canada Business Corporations Act. Subject to TSX-V approval, it is anticipated that the amalgamation will be effective May 1, 2010.
NGE will issue a further news release once its amalgamation with Ont Co is complete.