2006-10-31 - News Release

Mr. Alexander Helmel reports

NETWORK RECEIVES CALDERA ASSAY RESULTS

Network Exploration Ltd. (the "Company") (TSX.V: NET.H) has received the results of nine samples taken at the La Caldera property on Sept. 26 as part of its due diligence program prior to acquisition of the La Caldera property, a 2,700-hectare mineral property in Chile. The samples were taken as part of the property inspection conducted by Peter Folk, PGeol, who has been retained to prepare a National Instrument 43-101 report on the property. The assays verify the tenor of the results reported by Noranda during its 1994-1995 exploration programs.

The nine samples contained the following assay results:

Sample #	Length (m)	Mo (ppm)	Cu (ppm)	Au (ppb)
118521	Selected grab	41	1,443	172
118522	Selected grab	178	>10,000 *	184
118523	5	110	2,925	246
118524	5	109	4,444	97
118525	5	30	2,911	164
118526	5	34	4,681	32
118527	2	2	461	1,368
118528	Selected grab	5	271	200
118529	0.2	1	1,179	233
* over detection limit

The La Caldera property has the characteristics of an intrusive hosted porphyry Cu, Mo, Au mineralization occurring over an area of 2,500 metres by 600 metres and was tested by shallow trenching and short angled diamond drill holes. In addition to the porphyry mineralization, gold in veins and quartz-tourmaline breccia bodies extend past the limits of the porphyry style mineralization and were historically mined by artesian underground miners. Network intends to pursue both styles of mineralization.

Mr. Schnoor, director of international operations, stated: "These assay results are very encouraging in that they reconfirm the anomalous copper and gold values which are consistent with previous exploration program results obtained by Noranda. We are impressed with both the gold and copper values with one sample exceeding the 1-per-cent copper detection limit. These favourable assay results and the current review of the available Noranda data will able to delineate the target areas for the upcoming exploration programs."

The samples were assayed at Acme Laboratories Ltd., an ISO 9001 (2000) certified company, and the samples were analyzed using standard assay techniques. Gold was determined from a 30-gram sample using fire assay techniques with an ICP finish. Base metals were determined by ICP-ES. The samples were taken, transported and delivered to Acme Analytical Laboratories Ltd. in Vancouver by Mr. Folk, PEng, the qualified person responsible for the technical contents of this news release.

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.