Ginguro Exploration Inc.
TSX VENTURE : GEG

Ginguro Exploration Inc.

August 10, 2009 17:00 ET

Ginguro Completes $600,000 Private Placement

SUDBURY, ONTARIO--(Marketwire - Aug. 10, 2009) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro" or the "Company") announced today that it has completed its previously announced non-brokered private placement, raising an $600,000 from the sale of 3,075,000 flow-through common shares and 2,925,000 units, both priced at $0.10. Each unit consisted of one common share and one non-transferable common share purchase warrant, with each warrant entitling the holder to acquire one common share at a price of $0.15 until the earlier of: (i) the date that is 18 months following the date of issue; and (ii) the 30th day following the date that notice is provided by the Company to the holders advising that the closing market price of the common shares for 20 consecutive trading days has been $0.25 or above.

Ginguro paid cash finder's fees of $35,040 issued 438,000 finder's warrants to registered dealers who arranged for purchasers of units and flow-through shares in connection with the placement. Each finder's warrant entitles the holder to acquire one common share of the Company at an exercise price of $0.15 until the date that is 18 months from the date of issue. The Company also issued 100,000 units, having the same terms as the units in the offering, to one registered dealer as a work fee. All securities issued pursuant to the private placement are subject to a 4-month hold period.

Proceeds from the private placement will be used to fund an exploration program on the Company's recently acquired Pardo property and for working capital and general corporate purposes.

About Ginguro

Ginguro Exploration Inc. is a mineral exploration company focused on the advancement of its conglomerate-hosted gold property, located in Pardo Township in northern 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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