VANCOUVER, BRITISH COLUMBIA, Jan 20, 2012 (MARKETWIRE via COMTEX) — Guerrero Exploration Inc. (“Guerrero” or the “Company”) (tsx venture:GEX)(pinksheets:GUEEF)(frankfurt:2GU) is pleased to announce it has now successfully staked an additional 42,682 hectares of highly prospective land known as the Cibola property in the Guerrero Gold Belt.
Please see map at: www.grxpl.com
Held under Guerrero’s 100% owned subsidiary, Minera GRXPL, S.A. DE C.V., the Cibola property has three significant magnetic anomalies and four highly anomolous gold in stream sediment samples in a geological setting similar to Goldcorp’s Los Filos gold mine, currently the largest gold mine in Mexico, which produced over 335,000 oz in 2011 and currently contains over 5,470,000 proven and probable ounces ( www.goldcorp.com ). Upon receiving final government permit approval, Guerrero will be commencing a comprehensive exploration program on the Cibola property.
Guerrero’s President and CEO, David Stadnyk stated: “We are excited to have increased our land size in such a world-class mining district among some of the largest gold discoveries in Mexico. Our Cibola, Coatepec, and Cerro Azul properties are highly prospective and positioned for discovery. We are moving aggressively towards becoming one of the leading land owners in the Guerrero Gold Belt and the Guerrero state. With 28 million shares outstanding and a market cap of $4 million, the stage has been set for Guerrero in 2012.”
The Cibola property is one of the largest contiguous land packages in the highly prospective Guerrero Gold Belt, in close proximity to producing gold mines and significant gold discoveries including Newstrike Capital’s Ana Paula project, Cayden Resources Inc.’s Morelos Sur gold project, Industrias Penoles S.A.B. de C.V.’s Rey de Plata sulphide deposit, and Torrex Gold’s Morelos Project, containing over 3 million oz measured and indicated. The acquisition of the Cibola property will bring the Company’s total land position in the state of Guerrero to over 81,000 hectares of highly prospective properties. The area remains underexplored and is becoming one of the most prolific gold producing regions in the world, continually unveiling new discoveries.
Assaying and Qualified Person:
The scientific and technical data contained in this press release was prepared under the supervision of Troy Gill, BSc (Geol.)., the Company’s VP Exploration and a member of the Australian Institute of Geoscientists, who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About the Guerrero Gold Belt
The Guerrero Gold Belt is located in the State of Guerrero, Mexico, north of Acapulco City, and is one of Mexico’s largest and most prolific gold producing regions, having produced over 15 million ounces of gold to date. It extends for at least 55 km from the southeast to the northwest and remains open to exploration in all directions. Mineralization in the Guerrero Gold Belt was originally discovered in 1924 and has continued to grow since. The Guerrero Gold Belt now has an inventory of over 15 million ounces of gold, which continues to increase with ongoing exploration and/or mine development in the area and provides an excellent platform for exploration and development. The area is host to many major producing mines and very prospective exploration properties.
About Guerrero Exploration Inc.
Guerrero Exploration Inc. is a Canadian based exploration mining 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 Stadny, President and CEO
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).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Guerrero Exploration Inc.
Direct: (604) 685-0088 Ext. 229
Corporate Communications: (604) 685-0088 Ext. 226
[email protected]www.grxpl.com
SOURCE: Guerrero Exploration Inc.
mailto:[email protected]http://www.grxpl.com
