Edgewater Exploration Ltd.: In-Fill Drilling at Corcoesto Spain Continues to Intercept Consistent Mineralization Including 57.8m @ 1.09g/t Au and 13.6m @ 2.57g/t Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2012) - Edgewater Exploration Ltd. ("Edgewater" or the "Company") (TSX VENTURE:EDW)(OTCQX:EDWZF) is pleased to report additional drill results from the on-going in-fill diamond drilling program on the Company's 100% owned Corcoesto Gold Project, Galicia, Northwest Spain.

Edgewater now has five diamond drill rigs conducting a program of infill drilling on the Corcoesto Gold Project. Drilling continues to intersect excellent widths and grades of gold mineralization including DDH12W135 that returned 57.8 metres grading 1.09g/t Au DDH12W129 with 13.6 metres at 2.57g/t Au and DDH12W107 with 18.0 metres of 2.27g/t Au.

Table 1 Corcoesto Highlight of Recent Drill Results
Drill		From	To	Length	Au
Hole		m	m	(Meters)	g/t
12W135		295.4	353.2	57.8	1.09
12W135	incl	338.5	352.1	13.6	2.57
12W129		175.8	192.0	16.2	1.77
12W103		189.6	237.0	47.4	1.29
12W158		68.50	87.90	19.4	1.65
12W107		246.4	290.1	43.7	1.05
12W140		214.5	271.8	57.3	0.80
12W107		174.9	192.9	18.0	2.27
12W135		192.4	244.9	52.5	0.71
12W140		302.6	354.2	51.6	0.72
12W112		21.2	23.2	2.0	44.38
12W124		36.0	45.9	9.9	3.00
12W116		145.5	151.6	6.1	4.72
12W109		205.1	212.1	7.0	4.11
12W111		205.4	228.5	23.1	1.18
12W130		54.0	95.0	41.0	0.66
12W105		59.4	82.9	23.5	1.12
12W115		7.3	22.3	15.0	1.74
12W107		128.3	142.8	14.5	1.77
12W137		226.8	237.2	10.4	2.27

Notes: 1) All reported intercepts are core lengths and true widths are estimated at 80 per cent of core lengths

2) Weighted averages calculated using uncut assays.

3) See Table attached for complete results.

Edgewater has now completed 180 drill holes totaling 37,000 metres. This news release is reporting results for a total of 59 previously un-released holes (9086.8 metres).

Drill hole	Length	Azimuth	Dip		Zone	Section		Drill hole	Length	Azimuth	Dip		Zone	Section
12W101	199.10	180	-50		Pozo del Ingles	3960		12W132	85.20	156	-55		Petón de Lobo	4650
12W103	310.00	157	-50		Petón de Lobo	4375		12W133	266.40	158	-50		Petón de Lobo	4425
12W104	97.35	180	-45		Picotos	3775		12W134	130.45	180	-45		Picotos	3700
12W105	185.50	155	-50		Peton de Lobo	4425		12W135	359.10	156	-60		Petón de Lobo	4325
12W106	155.05	180	-50		Pozo del Ingles	4010		12W136	339.80	184	-49		Pozo del Ingles	3835
12W107	344.00	156	-50		Petón de Lobo	4375		12W137	239.00	156	-50		Petón de Lobo	4450
12W108	115.50	180	-45		Picotos	3750		12W138	69.70	156	-60		Petón de Lobo	4675
12W109	265.40	155	-50		Petón de Lobo	4425		12W139	110.10	180	-50		Picotos	4000
12W110	105.00	180	-55		Pozo del Inlgles	3985		12W140	400.00	156	-50		Petón de Lobo	4300
12W111	371.30	156	-50		Peton de Lobo	4375		12W141	80.00	155	-50		Petón de Lobo	4575
12W112	55.00	180	-45		Picotos	3825		12W142	55.35	156	-60		Petón de Lobo	4700
12W113	80.50	155	-50		Peton de Lobo	4425		12W143	112.65	180	-42		Picotos	3975
12W114	125.20	180	-45		Picotos	3775		12W144	75.20	156	-50		Peton de Lobo	4600
12W115	105.30	155	-55		Petón de Lobo	4425		12W145	60.50	156	-60		Petón de Lobo	4500
12W116	205.10	179	-50		Pozo del Ingles	3910		12W146	101.40	156	-70		Petón de Lobo	4600
12W117	56.00	156	-50		Petón de Lobo	4475		12W147	50.25	154	-59		Petón de Lobo	4575
12W118	90.60	155	-55		Petón de Lobo	4450		12W148	101.40	156	-50		Peton de Lobo	4525
12W119	86.55	182	-50		Picotos	3825		12W149	70.00	156	-45		Peton de Lobo	4600
12W120	185.10	156	-50		Petón de Lobo	4475		12W150	75.60	180	-50		Picotos	4000
12W121	165.30	155	-50		Petón de Lobo	4450		12W151	350.00	156	-55		Petón de Lobo	4275
12W122	51.40	180	-45		Picotos	3950		12W152	115.10	155	-55		Petón de Lobo	4525
12W123	140.00	156	-50		Petón de Lobo	4475		12W153	81.00	156	-45		Petón de Lobo	4550
12W124	125.20	155	-50		Petón de Lobo	4500		12W154	260.20	180	-55		Pozo del Ingles	3785
12W125	81.25	180	-45		Picotos	3975		12W155	224.80	157	-48		Petón de Lobo	4475
12W126	100.60	155	-50		Petón de Lobo	4475		12W156	59.80	180	-45		Picotos	4050
12W127	106.70	180	-45		Picotos	3950		12W157	110.30	156	-50		Petón de Lobo	4550
12W128	277.50	182	-53		Pozo del Ingles	3910		12W158	220.00	156	-52		Petón de Lobo	4200
12W129	275.20	156	-60		Peton de Lobo	4325		12W159	115.00	146	-50		Peton de Lobo	4550
12W130	175.40	155	-50		Peton de Lobo	4425		12W160	91.85	180	-45		Picotos	4025
12W131	40.55	156	-55		Petón de Lobo	4450		Total m	9086.8	59

On March 7^th, 2012 Edgewater announced that Tetra Tech had been engaged to complete a NI43-101 compliant Feasibility Study on the Corcoesto Gold Project. Initial Feasibility planning meetings as well as site visits by Tetra Tech personnel have now been completed. Additional work on-going in support of the Feasibility Study includes detailed metallurgical testing and geotechnical studies.

Sample preparation and analyses are conducted using industry standard practices. Samples are delivered to Chemex Lab in Seville, Spain and sample analyses completed at independent commercial facilities of ALS Romania for Au and ALS Canada (Vancouver) for As. Both labs have the certificate of ISO/IEC 17025:2005. Sampling and analyses include a rigorous Quality Assurance / Quality Control (QA/QC) program consisting of the insertion of blanks, duplicate samples, and check assays. A review of the QA/QC results shows no significant bias and all results are considered highly reliable.

Mr. Gregory Smith, P.Geo., Vice-President of Exploration of the Company, is the Qualified Person as defined by NI 43-101, and is responsible for the accuracy of the technical data and information contained in this news release.

About Edgewater Exploration Ltd.

Edgewater is a mineral development and exploration company focused on advancement and 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

Previously Unreported Results from Recently Completed Drill Holes
Drill Hole		From	To	Length (Meters)	Au g/t	As %	Rec %	GxT (g-m/t)
12W101		136.40	142.30	5.90	1.01	0.55	100.0	5.96
12W103		113.20	115.30	2.10	3.67	1.02	100.0	7.71
12W103		120.30	134.20	13.90	0.97	0.39	100.0	13.48
12W103		143.00	152.30	9.30	2.38	0.49	100.0	22.13
12W103	incl	145.00	147.00	2.00	8.04	0.69	100.0	16.08
12W103		174.60	183.40	8.80	0.51	0.18	100.0	4.49
12W103		189.60	237.00	47.40	1.29	0.44	100.0	61.15
12W103	incl	233.00	234.00	1.00	7.03	0.87	100.0	7.03
12W103		289.80	292.80	3.00	1.53	0.67	100.0	4.59
12W105		14.90	42.00	27.10	0.90	0.24	100.0	24.39
12W105		49.70	50.70	1.00	3.07	0.18	100.0	3.07
12W105		59.40	82.90	23.50	1.12	0.70	100.0	26.32
12W105	incl	63.80	64.80	1.00	6.65	0.29	100.0	6.65
12W105		111.90	113.00	1.10	7.18	0.69	100.0	7.90
12W106		38.10	40.10	2.00	0.78	0.52	98.0	1.56
12W106		50.55	51.90	1.35	2.44	0.92	100.0	3.29
12W106		118.20	119.20	1.00	2.85	0.04	100.0	2.85
12W107		128.30	142.80	14.50	1.77	1.18	100.0	25.67
12W107	incl	128.30	129.30	1.00	16.15	3.56	100.0	16.15
12W107		153.00	155.50	2.50	1.49	0.28	100.0	3.73
12W107		174.90	192.90	18.00	2.27	0.46	100.0	40.86
12W107	incl	181.10	182.10	1.00	8.79	0.82	100.0	8.79
12W107		217.00	221.00	4.00	1.70	1.05	100.0	6.80
12W107		246.40	290.10	43.70	1.05	0.42	100.0	45.89
12W107	incl	247.40	248.40	1.00	12.70	0.34	100.0	12.70
12W108		57.80	61.80	4.00	0.81	0.32	100.0	3.24
12W108		72.80	78.80	6.00	0.79	0.31	100.0	4.74
12W109		68.20	70.20	2.00	1.61	2.07	100.0	3.22
12W109		165.50	189.00	23.50	1.04	0.32	100.0	24.44
12W109		205.10	212.10	7.00	4.11	0.48	100.0	28.77
12W109	incl	207.10	212.10	5.00	5.55	0.58	100.0	27.75
12W111		177.80	188.40	10.60	1.49	0.76	100.0	15.79
12W111		205.40	228.50	23.10	1.18	0.26	100.0	27.26
12W111		239.60	242.60	3.00	2.18	0.36	100.0	6.54
12W111		258.40	270.30	11.90	0.54	0.35	100.0	6.43
12W111		277.50	300.40	22.90	0.91	0.37	100.0	20.84
12W111		304.50	307.50	3.00	0.63	0.37	100.0	1.89
12W111		330.00	346.60	16.60	1.10	0.63	100.0	18.26
12W112		21.20	23.20	2.00	44.38	0.39	100.0	88.76
12W113		31.40	32.40	1.00	4.52	0.27	100.0	4.52
12W113		67.80	69.80	2.00	2.14	0.45	100.0	4.28
12W114		81.20	84.30	3.10	2.32	0.46	100.0	7.19
12W114		109.40	111.40	2.00	0.94	0.75	100.0	1.88
12W115		7.30	22.30	15.00	1.74	0.67	99.2	26.10
12W115	incl	7.30	8.30	1.00	11.58	1.20	100.0	11.58
12W115		98.40	100.40	2.00	3.55	0.23	100.0	7.10
12W116		115.10	118.10	3.00	0.73	0.90	100.0	2.19
12W116		132.30	135.30	3.00	0.54	0.58	100.0	1.62
12W116		145.50	151.60	6.10	4.72	0.64	100.0	28.79
12W116	incl	150.20	151.60	1.40	16.50	1.42	100.0	23.10
12W116		172.20	173.20	1.00	3.86	1.24	100.0	3.86
12W117		34.90	39.10	4.20	2.22	0.20	100.0	9.32
12W117	incl	36.90	37.90	1.00	5.86	0.38	100.0	5.86
12W118		40.40	42.40	2.00	1.05	0.07	100.0	2.10
12W119		55.90	61.00	5.10	1.49	0.90	100.0	7.60
12W120		33.10	37.20	4.10	2.04	0.97	100.0	8.36
12W120		146.10	154.20	8.10	2.46	0.25	100.0	19.93
12W120	incl	151.20	152.20	1.00	10.70	0.22	100.0	10.70
12W120		166.40	169.40	3.00	0.78	0.06	100.0	2.34
12W121		55.50	56.50	1.00	1.58	0.43	100.0	1.58
12W121		104.00	109.00	5.00	0.81	0.49	100.0	4.05
12W121	incl	107.00	109.00	2.00	1.30	0.81	100.0	2.60
12W122		4.40	9.00	4.60	1.25	0.50	88.1	5.75
12W123		80.90	98.10	17.20	0.59	0.28	100.0	10.15
12W124		30.20	31.20	1.00	3.75	0.95	100.0	3.75
12W124		36.00	45.90	9.90	3.00	0.38	100.0	29.70
12W124	incl	43.90	44.90	1.00	16.58	1.09	100.0	16.58
12W124		92.60	98.60	6.00	1.15	0.14	100.0	6.90
12W125		8.00	10.00	2.00	1.25	0.55	100.0	2.50
12W125		15.00	17.00	2.00	1.24	0.51	100.0	2.48
12W125		47.10	54.40	7.30	1.48	0.44	100.0	10.80
12W125		73.40	76.60	3.20	1.18	0.31	100.0	3.78
12W126		29.20	32.40	3.20	0.74	0.77	100.0	2.37
12W126		43.90	45.10	1.20	2.29	0.36	100.0	2.75
12W126		78.90	81.80	2.90	3.84	0.39	100.0	11.14
12W127		66.60	76.70	10.10	0.73	0.33	100.0	7.37
12W129		63.40	66.50	3.10	0.69	0.71	100.0	2.14
12W129		98.70	99.70	1.00	1.55	1.21	100.0	1.55
12W129		117.20	120.70	3.50	6.47	0.60	100.0	22.65
12W129		152.10	155.10	3.00	1.88	0.23	100.0	5.64
12W129	incl	152.10	153.10	1.00	3.65	0.40	100.0	3.65
12W129		175.80	192.00	16.20	1.77	1.05	100.0	28.67
12W130		23.80	25.80	2.00	0.71	1.50	100.00	1.42
12W130		38.00	42.00	4.00	0.64	0.27	100.00	2.56
12W130		54.00	95.00	41.00	0.66	0.21	100.00	27.06
12W130	incl	80.80	81.80	1.00	3.35	0.28	100.00	3.35
12W130		118.30	129.80	11.50	0.83	0.24	100.00	9.55
12W130		140.80	141.80	1.00	1.46	0.38	100.00	1.46
12W131		6.70	9.70	3.00	2.15	0.29	100.00	6.45
12W131	incl	8.70	9.70	1.00	5.47	0.53	100.00	5.47
12W131		15.60	16.60	1.00	2.80	0.14	100.00	2.80
12W132		19.50	21.50	2.00	2.32	0.80	50.00	4.64
12W133		44.80	45.80	1.00	2.36	1.36	100.00	2.36
12W133		86.50	101.70	15.20	0.55	1.06	100.00	8.36
12W133		172.20	173.30	1.10	1.87	0.62	100.00	2.06
12W133		214.00	227.00	13.00	0.65	0.25	100.00	8.45
12W133	incl	217.10	218.20	1.10	3.48	0.22	100.00	3.83
12W134		48.30	49.30	1.00	11.90	0.70	100.00	11.90
12W134		56.30	61.40	5.10	0.63	0.26	100.00	3.21
12W134		74.10	75.10	1.00	1.39	0.47	100.00	1.39
12W134		110.50	116.50	6.00	1.55	0.33	100.00	9.30
12W134	incl	110.50	111.50	1.00	7.22	1.13	100.00	7.22
12W135		83.1	91	7.9	0.64	0.41	100.00	5.06
12W135		146.8	148.2	1.4	2.86	0.87	100.00	4.00
12W135		163.1	164.1	1	1.62	0.94	100.00	1.62
12W135		192.4	244.9	52.5	0.71	0.21	100.00	37.28
12W135	incl	213.5	214.7	1.2	3.44	0.09	100.00	4.13
12W135	and	223	224	1	4.03	0.50	100.00	4.03
12W135	and	235.1	236.1	1	4.59	0.31	100.00	4.59
12W135		249.7	253.4	3.7	0.66	0.87	93.33	2.44
12W135		270.7	272.9	2.2	1.55	0.56	100.00	3.41
12W135		279.5	284	4.5	1.63	0.41	100.00	7.34
12W135		288.2	289.5	1.3	1.21	0.52	100.00	1.57
12W135		295.4	353.2	57.8	1.09	0.72	98.90	63.00
12W135	incl	338.5	352.1	13.6	2.57	1.83	95.83	34.95
12W137		75.00	78.10	3.10	0.93	1.23	100.00	2.88
12W137		86.00	93.20	7.20	0.61	0.64	100.00	4.39
12W137		143.70	144.80	1.10	1.30	0.36	100.00	1.43
12W137		196.90	214.20	17.30	1.11	0.37	100.00	19.20
12W137	incl	198.90	199.90	1.00	3.97	0.32	100.00	3.97
12W137		226.80	237.20	10.40	2.27	1.21	100.00	23.61
12W137	incl	234.20	235.20	1.00	6.77	3.60	100.00	6.77
12W139		30.50	31.50	1.00	1.83	0.51	100.00	1.83
12W139		87.10	88.10	1.00	4.54	1.24	100.00	4.54
12W140		214.50	271.80	57.30	0.80	0.30	100.00	45.84
12W140	incl	252.50	253.50	1.00	8.11	0.66	100.00	8.11
12W140		293.30	294.40	1.10	1.55	0.70	100.00	1.70
12W140		302.60	354.20	51.60	0.72	0.25	100.00	37.15
12W140	incl	306.70	307.90	1.20	5.24	0.49	100.00	6.29
12W140		378.30	381.90	3.60	0.67	4.52	100.00	2.41
12W143		43.70	54.20	10.50	0.63	0.38	100.00	6.62
12W143	incl	45.90	47.90	2.00	2.14	0.63	100.00	4.28
12W144		61.50	62.50	1.00	15.30	0.24	100.00	15.30
12W145		47.10	48.30	1.20	0.52	0.40	100.00	0.62
12W146		18.00	20.00	2.00	0.74	0.11	100.00	1.48
12W146		79.40	80.40	1.00	1.81	0.20	100.00	1.81
12W148		16.30	21.30	5.00	1.69	0.30	100.00	8.45
12W148	incl	18.30	19.30	1.00	5.72	0.36	100.00	5.72
12W148		58.50	59.50	1.00	1.42	0.25	100.00	1.42
12W149		6.80	8.80	2.00	1.74	0.18	100.00	3.48
12W150		11.30	15.30	4.00	0.48	0.12	90.00	1.92
12W150		35.90	37.00	1.10	2.23	0.70	100.00	2.45
12W150		44.00	48.55	4.55	3.01	1.39	88.54	13.70
12W150	incl	44.00	45.00	1.00	10.04	3.39	100.00	10.04
12W150		65.50	66.60	1.10	1.04	0.62	100.00	1.14
12W151		127.60	128.70	1.10	1.03	0.30	100.00	1.13
12W151		165.00	170.00	5.00	0.99	1.13	100.00	4.95
12W151	incl	166.20	167.40	1.20	2.13	1.36	100.00	2.56
12W151		196.60	198.60	2.00	0.51	0.11	100.00	1.02
12W151		218.40	230.80	12.40	1.02	0.20	100.00	12.65
12W151		252.20	260.50	8.30	2.29	0.35	100.00	19.01
12W151	incl	254.20	255.20	1.00	9.06	0.48	100.00	9.06
12W151		286.70	287.80	1.10	1.34	0.68	100.00	1.47
12W151		298.00	305.00	7.00	0.51	0.33	100.00	3.57
12W151		320.00	331.00	11.00	1.28	0.29	100.00	14.08
12W151		338.60	339.90	1.30	6.30	0.93	100.00	8.19
12W152		58.30	59.30	1.00	0.82	0.65	100.00	0.82
12W152		62.70	69.40	6.70	0.59	0.63	100.00	3.95
12W152		92.30	96.70	4.40	0.69	0.16	100.00	3.04
12W153		18.30	20.30	2.00	0.50	0.06	100.00	1.00
12W153		50.30	52.30	2.00	0.68	0.01	100.00	1.36
12W154		148.40	157.40	9.00	2.28	0.91	100.00	20.52
12W154	incl	148.40	149.40	1.00	11.30	3.38	100.00	11.30
12W154		162.80	163.80	1.00	2.28	0.44	100.00	2.28
12W154		206.20	220.60	14.40	0.88	0.39	100.00	12.67
12W155		87.70	89.80	2.10	2.79	0.69	100.00	5.86
12W155		197.50	219.30	21.80	1.04	0.48	100.00	22.67
12W156		28.60	32.60	4.00	0.78	0.31	100.00	3.12
12W156		48.60	49.60	1.00	4.30	2.17	100.00	4.30
12W156		56.60	58.60	2.00	1.31	0.01	100.00	2.62
12W157		66.30	67.50	1.20	2.47	0.94	100.00	2.96
12W158		57.40	60.80	3.40	0.84	0.18	100.00	2.86
12W158		68.50	87.90	19.40	1.65	0.24	100.00	32.01
12W158	incl	86.70	87.90	1.20	5.22	0.40	100.00	6.26
12W158		177.60	179.60	2.00	1.71	0.67	100.00	3.42
12W159		54.10	56.10	2.00	0.67	0.92	100.00	1.34
12W159		69.10	72.10	3.00	0.92	0.27	100.00	2.76
12W159	incl	69.10	70.10	1.00	1.89	0.38	100.00	1.89
12W159		100.00	101.00	1.00	2.07	0.43	100.00	2.07
12W159		107.10	112.20	5.10	1.23	0.19	100.00	6.27
12W160		46.00	49.10	3.10	0.95	0.34	100.00	2.95
12W160		64.00	67.00	3.00	2.01	0.85	100.00	6.03
12W160	incl	64.00	65.00	1.00	4.90	1.63	100.00	4.90
12W160		74.00	76.00	2.00	0.52	0.21	100.00	1.04