Ginguro Exploration Inc.
TSX VENTURE : GEG

Ginguro Exploration Inc.

August 17, 2009 10:08 ET

Ginguro Provides Operational and Corporate Update

SUDBURY, ONTARIO--(Marketwire - Aug. 17, 2009) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro" or the "Company") is pleased to announce that it has commenced exploration activities at its Pardo Property.

Ginguro's Pardo property is a 113 sq. km paleo-placer gold property located predominantly in Pardo Township, approximately 65 km north east of Sudbury, Ontario. The Company owns a 100% interest in 80 sq. km of claims and has an option to earn up to 70% in a further 33 sq. km of claims.

Conglomerates with gold potential are considered to be extensive in Pardo, Clement, and Vogt Townships. Accordingly, Ginguro recently staked an additional 30 sq. km of claims, to bring the total land position to 113 sq km. The overall property now extends for 22 km in a north-easterly direction and is 11 km across at its widest point.

The Company's current exploration activities include diamond drilling, line-cutting, and geophysical surveying. Previous work at Pardo delineated an area of more than 12 sq. km. (6 km x 2 km) where sampling of the conglomerate yielded highly anomalous gold assays. Geologically, the gold occurs in a paleo-placer setting. Microscopic and sedimentological analysis has identified detrital pyrite, free gold and altered matrix and clasts, all strongly supporting the paleo-placer categorization.

Mineralized gold-bearing basal conglomerates of the Mississagi series are flat lying to shallowly dipping and occur at or near surface on the property. As a consequence, diamond drill holes of the current drill program are relatively short, averaging approximately 30 meters per hole. This allows for the drilling of numerous holes and the opportunity to test many areas of the property for relatively low cost.

Induced polarization ("IP") has proven to successfully target mineralized horizons. The Company has drilled 12 holes to date, targeting IP chargeability anomalies, with 11 of these holes intersecting mineralized basal conglomerate. Assays are pending on these holes and drilling continues.

The Company is also in the process of completing 50 km of line-cutting, which will be used to extend the IP surveying to the south of the existing survey. If suitable targets are identified, these will also be tested by drilling as part of the current program.

With the acquisition of Mount Logan Resources Ltd. and the recently completed $600,000 private placement (see press releases dated July 27, 2009 and August 10, 2009, respectively), Ginguro has restructured is operations and will fully devote its attention to the large Pardo Property. To this end, the Company has initiated efforts to identify buyers, or an exploration partner for the El Alto copper-gold project in Chile.

The Company would also like to announce that the Board of Directors has appointed Wayne Whymark as Chairman of the Board of Directors. In addition to being a recently appointed member of Ginguro's Board of Directors, Mr. Whymark has previously served as a Director of Independent Nickel Corp. and was the founding President and a Director of Walbridge Mining Company Limited.

Finally, Yves Clement has resigned from his position as Vice-president, Exploration of the Company, to pursue other interests. The Company wishes him well in his future endeavours.

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.

The Qualified Person responsible for the technical content of this news release is Richard Murphy, P. Geo., President and CEO of Ginguro Exploration Inc.

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

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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