Ginguro Exploration Inc.
TSX VENTURE : GEG

Ginguro Exploration Inc.

May 12, 2011 13:01 ET

Ginguro Clears Permitting for Drilling at El Alto

SUDBURY, ONTARIO--(Marketwire - May 12, 2011) - Ginguro Exploration Inc. (TSX VENTURE:GEG) is pleased to announce that it has received all permits required in order to start diamond drilling of its El Alto Iron-Oxide-Copper-Gold ("IOCG") property in Chile.

Ginguro will immediately begin road construction and will start diamond drilling in mid-June.

The drilling and road construction contracts are all in place. Exploration partner, Canadian Continental Exploration Corp., has advanced Ginguro $1.5 million to the Company's Chilean subsidiary, in order to fund 100% of the program.

The first phase drilling program will consist of nine holes totaling 3,500m. Drilling will commence on the South-West anomaly and will move to the North-West anomaly.

As previously reported, a geophysical survey was completed on the El Alto Property in 2010 and, as a result, identified five distinct magnetic anomalies ranging in length from 1.3 km to 2.4 km and in widths from 50m to 800m.

The South-West anomaly is coincident with a Uranium-Thorium response in the radiometric data and corresponds to an area of older small scale mining, including numerous adits, shafts, and pits. This South-West anomaly is large, being 2.3 km in length, trending north-south, and ranging from 50 m to 350 m in width. Adits in the vicinity show similar iron oxide, with significant copper and gold values in fresh rock.

The North-West anomaly is approximately 2.4 km long and ranges from 230m to 700m wide. The Company has confirmed that this area is underlain by massive iron oxide mineralization, with conspicuous cavities where it is believed sulphide minerals have been weathered out.

About Ginguro

Ginguro Exploration Inc. is a mineral exploration company focused on the advancement of its paleo-placer gold property, located in Pardo Township in northern Ontario and of its El Alto IOCG property located north-west of Santiago, Chile. To learn more about Ginguro Exploration Inc., please visit: www.ginguro.com.

The Qualified Person responsible for the geological technical content of this news release is Eric Yang, P.Geo., Geologist 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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