2007-01-02 - News Release

Mr. Alexander Helmel reports

NETWORK CLOSES $500,000 PRIVATE PLACEMENT

Network Exploration Ltd. (the "Company") (TSX.V: NET.H) is pleased to announce that further to the Company's news release of October 23, 2006, the Company has received final TSX-Venture Exchange approval for both the first and second tranches of its non-brokered private placement whereby the Company raised a total of $499,999 by issuance of 3,333,334 Units at a price of $0.15 per Unit.

The second tranche of $378,999 was comprised of 2,526,664 Units at $0.15 per unit and the first tranche was comprised of $121,000 under which the Company issued 806,670 Units at $0.15 per unit. The first tranche closed on November 3, 2006. Each Unit consists of one common share and one share purchase warrant entitling the holder to purchase one further common share for a period of one year from closing at a price of $0.18.

Finder's fees of $24,143.25 in cash and 47,700 Finder's Units at a price of $0.15 per Unit are payable. Each Finder's Unit consists of one common share and one finder’s warrant with each finder’s warrant entitling the holder to purchase an additional common share for a period of one year from the date of issuance at a price of $0.18.

All securities issued under the private placement will be subject to a four month hold period from their respective issuance dates.

The proceeds from this financing will be used for due diligence, new property acquisitions, debt reduction, first phase exploration on the Company's property in Chile, and for general corporate purposes.

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).

Network Exploration Ltd.
www.networkexploration.com
(604) 638-7363

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.