NQ

NQ Exploration Inc. ("NQ") (TSX VENTURE:NQE) is pleased to announce that it has
arrived at a settlement of its debt with Societe de developpement de la
Baie-James ('"SDBJ"), subject to TSX Venture Exchange approval. 


The Company issued a $200,000 convertible debenture (the "Debenture") to SDBJ on
April 30, 2009. 


The Debenture matured on April 30, 2011, bore interest at a rate of 15% per year
and was convertible into common shares at any time, at SDBJ's discretion, at a
price of $0.18 per share for the first 12 months and $0.20 per share for the
ensuing 12 months.


On December 20, 2011, accrued interest stood at $11.589.04 for the period from
April 1, 2011, to December 19, 2011. 


The Company wishes to settle this interest in full through the issuance of
193,150 common shares at a price of $0.06 per share.


The parties have agreed to settle the capital amount of $200,000 through the
issuance of a convertible debenture maturing on June 29, 2013. This debenture
will bear interest at a rate of 12% per year, and will be convertible at any
time at SDBJ's discretion at a price of $0.10 per share. The Company has the
option of buying back a minimum of $100,000 in the first 12 months. Regardless
of whether it exercises this option, the Company can only redeem the outstanding
balance of the debenture in full once this period is passed. 


ABOUT NQ EXPLORATION INC. 

NQ Exploration Inc. is a 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.

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