Guardian Exploration Inc.
TSX VENTURE : GX

Guardian Exploration Inc.

November 13, 2008 09:30 ET

Guardian Announces Shares for Debt Settlements

CALGARY, ALBERTA--(Marketwire - Nov. 13, 2008) - Guardian Exploration Inc. (TSX VENTURE:GX) ("Guardian" or the "Company" or the "Corporation") is pleased to announce that has settled $738,142.82 of trade payables through the payment of $300,000 in cash and the issuance of 276,534 Common Shares of the Corporation at a deemed price of $0.55 per share. The Common Shares issued are subject to a four-month hold period from the date of issuance.

The Shares for Debt settlement is to Arm's Length Parties and there will not be a new Control Person as a result of the issuance of the shares for debt.

Information about Guardian Exploration Inc.

Guardian Exploration Inc. is an Alberta-based oil and natural gas company. Guardian is engaged in the exploration for, and the acquisition, development and production of, natural gas and crude oil with emphasis on the shallow to mid-depth hydrocarbon prone zones of the western Canadian sedimentary basin in Alberta and northeastern British Columbia.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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