NQ Exploration Inc.

NQ Exploration Inc.

July 17, 2012 16:00 ET

NQ Exploration Inc.: Settlement of Debt With Societe de developpement de la Baie-James

LAVAL, QUEBEC--(Marketwire - July 17, 2012) - NQ Exploration Inc. ("NQ") (TSX VENTURE:NQE) is pleased to announce that it has arrived at a settlement of its debt with Société de développement de la Baie-James ('"SDBJ"), subject to TSX Venture Exchange approval.

NQ will issue 280,604 common shares at a deemed price of $0.043 per share to Société de développement de la Baie-James ('"SDBJ"), representing the $12,066 in interest due as of June 29, 2012, pursuant to the private placement of a $200,000 unsecured convertible debenture to SDBJ on December 29, 2011. The debenture bears interest at the rate of 12% per annum, payable semi-annually either in cash or in shares.

The Company wishes to settle this interest in full through the issuance of 280,604 common shares at a price of $0.043 per share.


NQ Exploration Inc. is a mining exploration company with a solid portfolio of mining properties in the James Bay and Abitibi regions of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold and base metal deposits.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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