2007-05-01 - News Release

Mr. Alexander Helmel reports

NETWORK EXPLORATION ANNOUNCES
$1,000,000 PRIVATE PLACEMENT

Vancouver, British Columbia: Network Exploration Ltd. (the "Company") (TSX.V: NET.H) is pleased to announce that the Company is arranging a private placement to raise gross proceeds of up to $1,000,000.

Under the terms of the private placement, the company will offer for sale a maximum of 5 million units at 20 cents per unit. Each unit will consist of one common share of the company and one share purchase warrant, where each warrant will allow the subscriber to purchase one additional common share of the company at 25 cents 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. Finder’s fees may be payable.

The proceeds from the offering will be used for the Company’s upcoming drill program at its Caldera property, Chile and to meet the requirements for graduation to Tier 2 on the TSX Venture Exchange.

The closing of this offering is subject to the successful graduation of Network from NEX to Tier 2 and all necessary regulatory approvals.

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.