2008-05-12  News Release

Mr. Alexander Helmel reports

NETWORK PHASE I DRILL RESULTS

Vancouver, British Columbia: Network Exploration Ltd. (the "Company") (TSX.V: NET) has now received assays for the last five holes of the nine hole (1344 meter) drill program at the Caldera project in Chile. Nine holes were drilled to test portions of a large intrusive with structural, geochemical or geophysical anomalies. For the most part, alteration and sulphide (primarily pyrite) content indicates that a large porphyry system exists and further drilling is required to prove this. It is believed that the recent drill results are from above the copper-gold enriched part of the system.

"The anomalous copper and molybdenum values received in Network's recent drilling campaign demonstrate the presence of a large porphyry system," states Senior Geologist Marco Fernandez-Concha. "Porphyry-related elements such as gold and silver are sporadic but widespread, with moderate anomalous values up to 1.78 g/t gold over 3 meters and 6.2 g/t silver over 3 meters."

Drill holes CA08-RC5, 8, and 9 intersected highly anomalous copper. Hole CA08-RC5 is anomalous in copper throughout with contents reaching 0.18% copper. Hole CA08-RC8 intersected 42 meters averaging 0.13% copper and 0.03 g/t gold and hole CA08-RC9 intersected 69 meters averaging 0.18% copper and 0.059 g/t gold. This is in addition to the earlier reported CA08-RC4 which intersected 171 meters averaging 0.23% copper and 0.07 g/t gold (including 36 meters averaging 0.52% copper and 0.12 g/t gold), CA08-RC3 intersecting 72 meters averaging 0.20% copper and 0.124 g/t gold, and CA08-RC2 which intersected 18 meters of 0.25% copper and 0.13 g/t gold (including 6 meters intersecting 0.46% copper and 0.31 g/t gold).

Classic porphyry systems are characterized by many traits including structural control, outer zones of base and precious metal deposition, a complex intrusive system with porphyritic monzonite at the center, zoned alteration, presence of silica rich breccia pipes, intrusion of late dykes of varying composition, the presence of stockwork, the presence of chalcopyrite in the hypogene part of the profile and strong magnetic susceptibility at the core. As observed from surface results and from drill cuttings from this first phase drill program, Caldera exhibits all of these features.

To date Network has tested only a small portion (approximately 0.4 square kilometers) of the total exposed area of the five square kilometer intrusive and because of the limited capabilities of the drill, was only able to penetrate to depths less than 200 meters. More than 90% of the area is deemed to be intrusive, and a potential host for copper-gold mineralization remains to be tested. Additionally, the northeast striking buried fault zone which has been the target of artesianal placer miners, remains to be tested at depths.

The Company is encouraged by the potential of the property which has not been fully realized. Network’s geologists are currently studying the data from past programs prior to submitting the design for a second phase drill program. Subsequent work programs will be proposed on the results of the current study which will be completed over the next several weeks.

Samples were taken at three meter intervals throughout all holes, bagged in tamper proof bags and delivered by company personnel to the ALS Chemex laboratory in La Serena, Chile where they were assayed utilizing the Au plus 41 element ICP package.

For a map showing drill hole distribution, please visit the following link: www.networkexploration.com/caldera/drillholes.pdf

The field program is managed by Senor Marco Fernandez Concha, an experienced South American geologist. This press release has been approved by Ken Thorsen, a director of the Company and the Company's Qualified Person.

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.