VANCOUVER, BRITISH COLUMBIA–(Marketwire – March 5, 2012) – Guerrero Exploration Inc. (“Guerrero” or the “Corporation”) (TSX VENTURE:GEX)(FRANKFURT:2GU) is pleased to announce that it has applied for the 86,205 Ha Olinalá property in Guerrero state, Mexico, centered 100 km east of the State capital, Chilpancingo de los Bravo, and 187 km SE of Mexico City. It is located immediately south of Cerro Dolores, a polymetallic project owned by Goldcorp that was optioned to Starcore International Mines in 2008 (Starcore International Mines Ltd., MDA 31 January 2008). The Olinalá application area overlaps two volcanic belts that are considered prospective for volcanogenic massive sulfide deposits.

The Olinalá Property also overlaps the eastern part of the Mixteca Terrane in Guerrero State. This geological terrane hosts several recent gold and base metal discoveries, including Morelos Sur (Cayden Resources Inc.), Morelos (Torex Gold Resources Inc.) and the Los Filos/Bermejal open pit mine with 248.6 million tonnes of 5.1 g/t gold and 40.97 g/t silver (Goldcorp).

President and CEO, David Stadnyk, stated: “We are very pleased with the ongoing extensive efforts of management in staking large surface exploration rights. The Company is committed to finding a resource base through an aggressive exploration drill program on the Cerro Azul property, and a regional first pass sampling exploration work program on the company’s Coatapec, Cibola and Olinala properties in Guerrero state. With Guerrero having one of the largest land ownerships in the state of Guerrero and having the smallest market cap amongst the neighboring publically trading companies in the area, Guerrero has now set the stage to aggressively explore the properties for potential new opportunities of precious and base metal resources.”

Qualified Person

This press Release was reviewed by Michelle Robinson, M.A.Sc., P.Eng., a Qualifed Person as defined by NI 43-101.

About Guerrero Exploration Inc.

Guerrero Exploration Inc. is a Canadian based mineral exploration company with a focus on Mexican Gold, Copper and Silver mining areas known as the Guerrero Gold Belt, Southern Mexican Gold Belt and the Sierra Madre Occidental Belt. The Corporation’s common shares trade on the TSX Venture Exchange under the symbol (GEX) and the Frankfurt Stock Exchange under the symbol (2GU). For further information please visit www.grxpl.com or contact investor relations.

David Stadnyk, President and CEO

Guerrero Exploration Inc.

Advisory

Certain statements and information contained in this press release, including but not limited to management’s assessment of Guerrero’s future plans and operations, geological results and proposed exploration plans contain forward-looking statements. In particular, this press release contains statements concerning the anticipated receipt of government claims approval. All statements other than statements of historical fact may be forward-looking statements. These statements, by their nature, are subject to numerous risks and uncertainties, some of which are beyond Guerrero’s control including the effect of general economic conditions, industry conditions, changes in regulatory and taxation regimes, government approvals, volatility of commodity prices, escalation of operating and capital costs, currency fluctuations, the availability of services, imprecision of reserve estimates, geological, technical, drilling and processing risks, environmental risks, weather, the lack of availability of qualified personnel or management, stock market volatility, the ability to access sufficient capital from internal and external sources and competition from other industry participants for, among other things, capital, services, acquisitions of reserves, undeveloped lands and skilled personnel that may cause actual results or events to differ materially from those anticipated in the forward-looking statements. Such forward-looking statements, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated in the statements made and should not unduly be relied on. These statements speak only as of the date of this press release. Guerrero does not intend and does not assume any obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Guerrero’s business is subject to various risks that are discussed in its filings on the System for Electronic Document Analysis and Retrieval (SEDAR).