In the first ever meeting between the two schools, Nevada gave the No. 20 Lobos (19-3, 6-1) all they could ask for into the final minutes of the game.
With 5:46 remaining in the contest, the Pack trailed by just four points with the score 60-56. Unfortunately for the Silver and Blue, New Mexico then went on a 15-6 spurt to close out the game for a 75-62 victory.
The loss dropped Nevada to 11-10 overall and 2-5 on the season in the Mountain West. The Pack is now 0-3 against ranked teams, 2-7 on the road and 2-6 since winning a season-high five in a row. Nevada's last win against a ranked team came in 2007 against Creighton.
Senior guard Malik Story scored a game-high 20 points in the losing effort. Guard Deonte Burton had 13 points in the contest.
Nevada returns home to take on Colorado State on Wednesday at 7:15 p.m.