NQ Exploration Inc.
TSX VENTURE : NQE

NQ Exploration Inc.

June 18, 2008 13:15 ET

NQ Exploration Arranges Non-Brokered Private Placements and Announces its First Closing

LAVAL, QUEBEC--(Marketwire - June 18, 2008) - NQ Exploration Inc. (TSX VENTURE:NQE) announces that it is currently arranging non-brokered private placements for up of $500,000 consisting in:

- PRIVATE PLACEMENT OF UNIT COMMON SHARES.

5,000 common shares Units at a cost of $100 per Unit. Each Unit includes 500 common shares at a price of $0.20 per share and 250 common share purchase warrants of the Corporation. Each warrant entitles the holder thereof to purchase one common share of the Corporation for a period of twelve months at a price of $0.25 per share.

In connection with this private placement, a finder's fee commission will be paid out in cash and finder's fee warrants to qualified individuals and brokers. The common shares are subject to a four-month hold period from closing.

NQ Exploration Inc., also closed, 1,310 common shares Units at a price of $100 per Unit for total gross proceeds of $131,000, with each Unit consisting of 500 common shares of the Corporation at a price of $0.20 per share and 250 common share purchase warrants of the Corporation. Each warrant entitles the holder thereof to purchase one common share of the Corporation for a period of twelve months at a price of $0.25 per share.

About NQ Exploration

NQ Exploration inc. is a new Junior mining exploration company with 24 exploration projects within the James Bay territory in Quebec. NQ Exploration inc. wants to take advantage of the excellent mineral potential and the favourable climate of investments in Quebec to target the discovery of new world-class gold, base metals and uranium deposits.

Forward-looking Statements

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in NQ Exploration periodic reports including the management discussion and analysis quarterly reports or in the filings made by NQ Exploration from time to time with securities regulatory authorities. NQ Exploration undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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