Edgewater Exploration Ltd.
TSX VENTURE : EDW
OTCQX : EDWZF

Edgewater Exploration Ltd.

June 07, 2012 09:30 ET

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 7th, 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

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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