2006-08-21 - News Release

Mr. Alexander Helmel reports

NETWORK EXPLORATION ANNOUNCES
PRIVATE PLACEMENT

Network Exploration Ltd. (the "Company") (TSX.V: NET.H, OTCPK:NETYF) today announced a private placement offering to raise gross proceeds of up to CAD $500,000. Under the terms of the private placement, the company will offer for sale a maximum of 2,500,000 Units (the "Units") at CAD $0.20 per Unit. Each unit will consist of one common share of the Company and one half share purchase warrant (the "Warrants"), where each Warrant will allow the subscriber to purchase one additional common share of the Company at CAD $0.25 for a period of one year from the closing date. The Units issued upon the closing of the private placement will be subject to a four month hold period.

The proceeds from these offerings will be used for acquisition and operating costs.

A finder's fee in accordance with TSX Venture Exchange policies, payable in cash or shares or a combination of cash and shares, is payable on this private placement.

The private placement and the finder's fee are subject to the acceptance of the TSX Venture Exchange.

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 our website at www.networkexploration.com

Network Exploration Ltd.
www.networkexploration.com
(604) 495-6302

We seek Safe Harbor.

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. These statements include "characteristics of a gold and copper porphyry system with excellent geological potential". 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 & Exchange Commission.