Ginguro Exploration Inc.
TSX VENTURE : GEG

Ginguro Exploration Inc.

July 27, 2009 06:00 ET

Ginguro Completes Acquisition of Pardo Property

SUDBURY, ONTARIO--(Marketwire - July 27, 2009) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro" or the "Company") announced today that it has completed its previously announced acquisition of Mount Logan Resources Ltd. ("Mount Logan"), the holder of interests in the mineral properties comprising the Pardo Property. Ginguro issued 3,700,000 common shares at a deemed value of $0.10 per share to the Mount Logan shareholders in connection with the transaction, all of which are subject to a 4-month hold period.

In connection with the transaction and subject to regulatory approval, Richard Murphy, has been appointed as President and Chief Executive Officer of Ginguro, replacing interim President and Chief Executive Officer Guy Mahaffy. Mr. Mahaffy will continue in his role as Chief Financial Officer of Ginguro. In addition, subject to regulatory approval, Mr. Murphy and Mr. Wayne Whymark have been appointed to the Ginguro board of directors. Stewart Winter, the Company's non-executive Chairman, has retired from the board. The board would like to thank Mr. Winter for his contributions to the Company and wishes him well in his future endeavours.

The Company is in the process of completing its previously announced private placement of units and flow-through shares to fund exploration of the Pardo Property and expects to make a further announcement in the near future.

About Ginguro

Ginguro Exploration Inc. is a mineral exploration company focused on the advancement of its conglomerate-hosted gold property, located in Pardo Township in northern Ontario. To learn more about Ginguro Exploration Inc., please visit: www.ginguro.com.

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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