Corporate PresentationJanuary 23, 2020

DisclaimerThis Presentation contains certain "forward-looking statements" including, without limitation, expectations, beliefs, plans and objectives regarding the timing and nature of estimated future exploration, success of exploration activities, and potential transactions and ventures discussed. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, environmental permits, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.

Wade A. Hodges, CEO of Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101, and hasprepared the technical and scientific information contained in this Presentation.

TSX.V:NGE; OTC.QB:NVDEF

Listed: 2007

Market Cap: CA$32M

Issued & Outstanding: 97M

Fully Diluted: 122M

Insider Ownership: 27%

Nevada Exploration Inc.Team of proven Nevada explorers (+50 Moz)

Applying latest exploration technologies

Exploring for Tier 1+ Carlin-type gold deposits

Three district-scale projects (150 km2)

40 years Nevada experienceSr. Exploration Manager, Santa Fe Pacific GoldInvolved in discovery +30 Moz of gold in Nevada

Wade A. HodgesM.Sc., P.GeoCEO & Director

30 years Nevada experienceInvolved in discovery 7 Moz of gold in Nevada

Kenneth N. TullarB.Sc., P.GeoCOO

38 years of international experienceGlobal Porphyry Copper Exploration Manager, BHP

Dr. John E. LarsonPh.D.Director

James BuskardMBA, BESPresident

GoldrushTwin CreeksLone TreeRosebudMule CanyonElder CreekGoldbarEasy JuniorCove McCoyWildcatMtn. ViewGoldfieldNew Aurora

+50 Moz of Gold in Nevada

15 years Nevada experienceLeader in undercover exploration technologies

28 years of international experienceChief Geochemist Global, and Chief Geologist South America, BarrickMember of Barrick’s discovery team at Goldrush

Simon GriffithsM.Sc.Senior Technical Advisor

Proven technical team

> 100,000 prospects> 600 Au mines

13.7

9.7 8.7

5.6 5.3 4.9 4.4

China Australia Russia NEVADA Canada Peru SouthAfrica

Annual Gold Production(2017 Moz)

Nevada

1.4 1.3 0.5

19.4

0.53.8 3.6

China Australia Russia NEVADA Canada Peru SouthAfrica

Gold Production/Area(2017 oz/km2)

80%From 3 Camps

Carlin: 119 Moz AuCortez: 44 Moz AuGetchell: 38 Moz Au

+ +

“Lower-plate”carbonate host rocks

Regional-scalestructural fabric

Margins ofmajor intrusive+ +

Massive hydrothermal system (alteration and geochem 10’s km3)

0

1

2

3

4

5

6

7

8

9

10

1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025

Nevada AnnualGold Production

(Moz/year)SOURCE: NBMG

1998: 8.9 Moz

-40 %

2017: 5.6 Moz

ChallengeOpportunityFuture

30% 25%45%

70% 75%55%

CANADA AUSTRALIA

NEVADA

Under Cover

85%GLOBALEXPLORATIONBUDGET

Und

er C

over

The biggest prize in the industry

55%Conventional tools

don’t work where you can’t see the rocks

>200Produced to date

Moz Au

New detection technology

Better Analytical Tools Lower Detection Limits New Sampling Media

GROUNDWATERThe universal solvent

Then Now

HR-ICP-MS

New Lab Technology

Footprint10x > deposits

Building a new under cover toolkit

10x

1/10ththe samples

Biggerfootprints 1/100th

borehole cost

Radical ↑Area evaluated / dollar

Groundwater programs around the worldIndustry leaders

CSIRO

First QuantumAnglo American Chile & Phelps Dodge

Nevada Exploration

Cortez Hills

NGE Groundwater ProgramWorld’s largest program

>6,000 groundwater samples mostlyfrom purpose-drilled sampling bores

Tested around >30 known gold mines

Built database of new exploration targets

Advancing 3 district-scale CTGD projects

Kelly Creek

Grass Valley

South GrassValley

samples

On the ground

Cortez

GRASS VALLEY

Kelly Creek

Grass Valley

South GrassValley

500 km2

Search Space

366 Samples(mostly purpose-drilled)

366 Samples(mostly purpose-drilled)

Cortez HillsPipeline Goldrush / Fourmile

Air magnetic survey (2018)

Gravity survey (2018)

Soil geochemistry (2018-19)

Infill groundwater (2018-19)

Detailed mapping (2019)

2018-19 Core Drill Holes3.7 km NNW-SSE

Air magnetic survey (2018)

Gravity survey (2018)

Soil geochemistry (2018-19)

Infill groundwater (2018-19)

Detailed mapping (2019)

Strat. orientation drilling (2018-19)TEST: Camp-scale CTGD mineral system

Cortez HillsPipeline Goldrush / Fourmile

Geo

phys

ics

Drill

ing

Geo

chem

istr

y

Drilling results orient exploration datasets

Comprehensive geologic model

Classic geologic architecture of a Carlin-type gold district:• Complex, regional-scale structural fabric with multiple structural trap sites

• Thick package of reactive lower-plate exhibiting significant brecciation

• Along the margin of a major intrusive

Grass ValleyIntrusive Stock Lower-plate

host rocks

Widespread alteration, intense silicification

Multi-phase sulfide & oxide mineralization

Enriched Au and CTGD pathfinders

Massive Carlin-type mineral system

Multi-deposit potential

Four targets: defined by settings analogous to deposits in the three major camps, and supported by gold and pathfinders in multiple sampling mediums.

Wat

erfa

ll

Fred

die

Wat

er C

anyo

n

Gol

den

Gor

ge

Clear objectives for follow-up drilling

A new district-scale mineral system

+3.5 km alteration and geochemistry in bedrock

+8 kmGeochemistry in soils, groundwater

Planned 2020 drill holes

Grass ValleyStock

Freddie

Golden Gorge

Waterfall

Water Canyon

District-scale mineral system

Betze (40 Moz)

Screamer (5 Moz)

Genesis (3 Moz)

Carlin (5 Moz)

Meikle(7 Moz)

Post (5 Moz)

Deep Post (4 Moz)

WestLeeville(3 Moz)80 Moz

Little BoulderBasin Stock

Goldstrike StockGrass Valley

Stock

Freddie

WaterfallPlanned 2020 drill holes

Golden Gorge

Water Canyon

DISCOVERED NEVADA’S LARGEST NEW CARLIN-TYPEMINERAL SYSTEM

BlindSearch Space

All began with a groundwater sample…

South Grass Valley ProjectJanuary 2020

NOW DRILLING

South Grass Valley ProjectJanuary 2020

STAY TUNED