Edgewater Exploration Ltd.

Edgewater Exploration Ltd.

June 12, 2012 09:30 ET

Edgewater Announces Corcoesto to Advance as a Strategic Industrial Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2012) - Edgewater Exploration Ltd. ("Edgewater" or the "Company") (TSX VENTURE:EDW)(OTCQX:EDWZF) is pleased to announce that the Galician Government is advancing the Corcoesto Gold Project as a "Strategic Industrial Project". This new process is part of the recently approved Industrial Promotion Act of Galicia, created in order to promote investment and new jobs in Galicia. The Corcoesto Gold Project being accepted in the process of a Strategic Industrial Project means the minimization of processing time and priority for the project to advance with expedited permit timelines. These critical elements include exemption from municipal license, the declaration of the project as public utility and social interest, the declaration of prevalence over other competing public interests and the provision of direct subsidies. Additionally it involves rights for access to energy or water to the project site.

President and CEO George Salamis stated, "I am very pleased with the support and attention the Corcoesto Gold Project has been getting from all levels of government and the surrounding local communities. Edgewater continues to work with all the communities, stakeholders and government to adhere to the highest socioeconomic and environmental standards. Our public consultation has been going on now for some time; we are firmly committed to seeing Corcoesto come to fruition and ensure surrounding communities derive the maximum benefits."

The Environmental Impact Assessment ("EIA") was submitted to the Galician Mining Authorities on February 9th 2012. The EIA completes the exploitation project application and the reclamation plan submitted December 30th 2011, and follows the legal requirements set up by the European Directives and the Galician legislation. Edgewater has been in a period of public consultation for all individuals and groups who wish to make claims they deem appropriate to achieve a project offering maximum guarantees.

About Edgewater Exploration Ltd.

Edgewater is a mineral development and exploration company focused on the development of precious metal properties. Edgewater has an experienced mine building and operating team with a track record of success. The Company is currently developing the Corcoesto Gold Project in northwest Spain, and exploring the Enchi Gold Project in Ghana, West Africa.

On behalf of the board of EDGEWATER EXPLORATION LTD.

George Salamis, President and CEO

"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."

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