NQE NQ Exploration Inc. (delisted)

NQ Exploration Inc. (TSX VENTURE:NQE) announces the closing of a brokered
private placement by Industrial Alliance Securities Inc. (the "Agent") for total
gross proceeds of $450,240 (the "Placement"). 


Under the terms of this Placement, NQ issued a total of 402 flow-through units a
price of $1,120 per unit. Each unit consists of 10,500 flow-through shares at a
price of $0.085 per share, 3,500 common shares at a price of $0.065 per share
and 3,500 warrants, each warrant entitling the holder thereof the right to
purchase one common share of NQ at the price of $0.12 per share for a period of
12 months from Closing.


Under the Placement, NQ paid the Agent a cash commission of 9% of the Gross
Proceeds and issued a total of 281,400 non-transferable broker warrants (the
"Broker Warrants"). Each Broker Warrant entitles the holder thereof the right to
purchase one common share of NQ at a price of $0.12 per share for a period of 18
months from the Closing. The securities issued under this Placement will be
subject to a four-month and one day hold period expiring on April 30, 2012.


The proceeds of the Offering combined, with existing working capital, will be
used by NQ to conduct exploration programs in 2012 and for general working
capital.


ABOUT NQ EXPLORATION INC. 

NQ Exploration Inc. is a new mining exploration company with a solid portfolio
of 11 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.

NQ Exploration Inc. (TSXV:NQE)
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