Nevada Exploration Inc. provided the following update regarding its Kelly Creek property: Kelly Creek JV Partner Austin Gold Corp. (" Austin") has informed the Company that it will terminate certain leases and claim holdings within the Kelly Creek project, representing approximately 60% of the original claim holdings. The Company's wholly-owned subsidiary, Pediment Gold LLC, and Austin are party to an Exploration and Option to Enter Joint Venture Agreement, with amendments, on the Kelly Creek Project, located on the Battle Mountain-Eureka (Cortez) gold trend in Humboldt County, Nevada.

The termination of holdings by Austin has no present impact on the Company's holdings. The Company will determine whether to maintain such holdings before the due date for payment of Bureau of Land Management fees on September 1, 2023.