Ginguro Exploration Inc.
TSX VENTURE : GEG

Ginguro Exploration Inc.

November 26, 2009 18:43 ET

Ginguro Announces Proposed Non-Brokered Private Placement

SUDBURY, ONTARIO--(Marketwire - Nov. 26, 2009) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro" or the "Company"), announced today that it is undertaking a non-brokered private placement to raise up to $1,000,000. The Company intends to privately place up to 8,333,333 securities in any combination of flow-through common shares (the "Flow through Shares") and units (the "Units"), each priced at $0.12.

Each Unit will consist of one common share and one half of one non-transferable common share purchase warrant (each, a "Warrant"), with each whole Warrant entitling the holder to acquire one common share at a price of $0.15 until the date that is 18 months following the date of issue. Ginguro proposes to pay a finder's fee of 8% in cash and 10% non-transferable finder's warrants ("Finder's Warrants") to finders who procure subscriptions for Flow Through Shares and Units. Each Finder's Warrant will entitle the holder to acquire one Unit of the Company at an exercise price of $0.12 per Unit until the date that is 18 months from the date of issue of the Finder's Warrant.

The Company reserves the right to over-allot the placement by up to an additional 1,250,000 securities of either Flow Through Shares or Units, for additional gross proceeds of up to $150,000.

The private placement is subject to the approval of the TSX Venture Exchange and all securities issued pursuant to the private placement will be subject to a 4-month hold period.

About Ginguro

Ginguro Exploration Inc. is a mineral exploration company focused on the advancement of the Pardo paleo-placer gold property, located 65 km north east of Sudbury, Ontario. To learn more about Ginguro Exploration Inc., please visit: www.ginguro.com.

Neither 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.

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