2006-11-09 - News Release

Mr. Alexander Helmel reports

NETWORK AQUIRES GOLD AND COPPER PROPERTY IN CHILE

Network Exploration Ltd. (the "Company") (TSX.V: NET.H) further to its memorandum of understanding reported in Stockwatch July 12, 2006, and subject to regulatory approval, has signed the formal agreement to option a 50-per-cent interest in the Caldera property through its newly formed Chilean subsidiary.

Consistent with the MOU, under the terms of the agreement the company will earn a 50-per-cent interest with 340,000 (U.S.) in property payments and 1.05-million (U.S.) in exploration expenditures over the next four years. Upon earning its 50-per-cent interest, the company will form a joint venture corporation 50 per cent owned by Network Exploration and 50 per cent owned by the sellers for the purpose of future mineral exploration on the property. The future joint venture agreement outlines a management team in favour of Network Exploration and right of first refusal and buy/sell clauses permitting the company to acquire additional interests in 10-per-cent increments at a future date.

The Caldera property, covering an area of 2,700 hectares, is located in the mineral-rich Huasco province of Chile and had been previously optioned to Noranda Chile in 1992 to 1995. Having the characteristics of a gold and copper porphyry, Noranda explored the property with a drill program which included nine shallow drill holes with a vertical depth estimated at not more than 80 metres.

This acquisition succeeds the company's comprehensive due diligence program which included a review of available results from Noranda's exploration programs and further sampling of the property. During this process, the company was able to locate some of the previous drill cores from Noranda's 1994-1995 exploration programs and Peter Folk, PGeo, obtained additional assays from the previous trench work at the property. The assay results (reported in Stockwatch Oct. 31, 2006, with results ranging to 0.46 per cent Cu), the core inspection and careful review of the sample data have provided valuable insight into the porphyry-style geology of the Caldera system. Mr. Folk has been commissioned to prepare a 43-101 report for the property to present to the TSX Venture Exchange.

"We are very excited to have the opportunity to inspect Noranda's previous drill cores," states Richard Schnoor, director of international operations. "This will significantly assist us in the planning of our exploration program. From our initial inspection, a number of the drill cores show significant sulphide materials with chalcopyrite which appear to be open at depth." 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 that the Caldera property hosts a series of economic gold and/or copper orebodies and the company will endeavour to determine the grade of the copper porphyry through its upcoming exploration programs.

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.