Ginguro Exploration Inc.
TSX VENTURE : GEG

Ginguro Exploration Inc.

July 29, 2009 17:38 ET

Ginguro Modifies Private Placement

SUDBURY, ONTARIO--(Marketwire - July 29, 2009) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro" or the "Company") announced today that, based on investor demand, it has revised the composition of units and flow-through shares to be offered under its non-brokered private placement announced on July 9, 2009. Any combination of units and flow-through shares will now be offered to raise up to $600,000, with no fixed maximums for each security.

Previously, a maximum of 4,000,000 flow-through shares and a maximum of 2,000,000 units were being offered. The Company believes that the change will provide it with greater flexibility in completing the financing, based on orders received to date. Ginguro intends to pay finder's fees in connection with the placement of 8% in cash and 10% non-transferable 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 common share of the Company at an exercise price of $0.15 until the date that is 18 months from the date of issue. A work fee of 100,000 units is also required to be paid to one registered dealer finder should they place a minimum dollar amount of the securities offered. All other terms and conditions of the placement remain the same. The private placement is expected to be completed shortly.

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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