Guerrero Exploration Inc.
TSX VENTURE : GEX

Guerrero Exploration Inc.

November 01, 2011 03:01 ET

Guerrero to Acquire 100% Interest in Coatapec Property Next to Newstrike's Ana Paula Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2011) - Guerrero Exploration Inc. ("Guerrero" or the "Company") (TSX VENTURE:GEX) is pleased to announce the acquisition of a 100% interest in the "Coatapec" gold/silver property, consisting of approximately 81,400 contiguous hectares directly bordering the northern extent of Newstrike Capital's "Ana Paula" discovery that recently returned drill intercepts grading 7.51 g/t gold over 230.95 metres (Press Release dated August 20, 2011).

Coatapec property map available at: www.grxpl.com

Held under Guerrero's 100% owned subsidiary "Minera GRXPL, S.A. DE C.V.", the Coatapec property's geology exhibits similar geological trends to the neighbouring "Ana Paula" property and lies within approximately 10 km of Goldcorp's "Los Filos" gold mine, currently the largest gold mine in Mexico, that produced over 335,000 oz in 2011 and currently contains over 5,470,000 proven and probable ounces (www.goldcorp.com). Upon receiving final government permit approval, Guerrero will be commencing a comprehensive exploration program on the Coatapec property.

Guerrero's President and CEO, David Stadnyk stated, "We are excited to have secured such a dominant and strategic land package in close proximity to some of the largest gold discoveries in Mexico. An extensive exploration work program will commence following the final receipt of permits for the Coatapec property, which is one of the largest land packages within the highly renowned Guerrero Gold Belt. Guerrero is actively exploring both its Chapalota and Cerro Azul gold/copper properties and we feel that Guerrero has a strong comparative advantage at this time, with a current market cap of $3 million and only 22,000,000 shares outstanding."

The "Coatapec" property is one of the largest contiguous land packages in the highly prolific Nukay mining district, surrounded by producing gold mines and large proven gold reserves. The acquisition of the Coatapec property will bring the company's total land position in the state of Guerrero to over 110,000 hectares of highly prospective properties. The Coatapec property is also in close proximity to Cayden Resources Inc. "Morelos Sur" gold project, Industrias Peñoles S.A.B. de C.V. "Rey de Plata" sulphide deposit, and Torrex Gold's "Morelos Project", containing over 3 million oz measured and indicated. The area is becoming one of the most prolific gold producing regions in the world and continues to unveil new discoveries.

Assaying and Qualified Person:

The scientific and technical data contained in this press release was prepared under the supervision of Troy Gill, BSc (Geol.), a member of the Australian Institute of Geoscientists, who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About the Guerrero Gold Belt

The Guerrero Gold Belt is located in the State of Guerrero, Mexico, north of Acapulco City, and is one of Mexico's largest and most prolific Gold producing regions, having produced over 15 million ounces of gold to date. It extends for at least 55 km from the southeast to the northwest and remains open to exploration in all directions. Mineralization in the Guerrero Gold Belt was originally discovered in 1924 and has continued to grow since. The Guerrero Gold Belt now has an inventory of over 15 million ounces of gold, which continues to increase with ongoing exploration and/or mine development in the area and provides an excellent platform for exploration and development. The area is host to many major producing mines and very prospective exploration properties.

About Guerrero Exploration Inc.

Guerrero Exploration Inc. is committed to a long term business strategy designed to achieve optimal levels of profitability and shareholder value. Guerrero Exploration Inc. is a Canadian based exploration mining company with a focus on the high yielding Mexican copper, gold and silver mining area known as the Southern Mexican Gold Belt and the Sierra Madre Occidental Belt. The Corporation's common shares trade on the TSX Venture Exchange under the symbol (GEX). For further information please visit www.grxpl.com or contact investor relations.

On Behalf of the Board of Directors

David Stadnyk, President and CEO

Advisory

Certain statements and information contained in this press release, including but not limited to management's assessment of Guerrero's future plans and operations, geological results and proposed exploration plans contain forward-looking statements. In particular, this press release contains statements concerning the anticipated receipt of government claims approval. All statements other than statements of historical fact may be forward looking statements. These statements, by their nature, are subject to numerous risks and uncertainties, some of which are beyond Guerrero's control including the effect of general economic conditions, industry conditions, changes in regulatory and taxation regimes, government approvals, volatility of commodity prices, escalation of operating and capital costs, currency fluctuations, the availability of services, imprecision of reserve estimates, geological, technical, drilling and processing risks, environmental risks, weather, the lack of availability of qualified personnel or management, stock market volatility, the ability to access sufficient capital from internal and external sources and competition from other industry participants for, among other things, capital, services, acquisitions of reserves, undeveloped lands and skilled personnel that may cause actual results or events to differ materially from those anticipated in the forward looking statements. Such forward-looking statements, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated in the statements made and should not unduly be relied on. These statements speak only as of the date of this press release. Guerrero does not intend and does not assume any obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Guerrero's business is subject to various risks that are discussed in its filings on the System for Electronic Document Analysis and Retrieval (SEDAR).

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.

Contact Information

  • Guerrero Exploration Inc.
    David Stadnyk
    President and CEO
    (604) 685-0088 Ext. 229

    Guerrero Exploration Inc.
    Corporate Communications
    (604) 685-0088 Ext. 226
    info@grxpl.com
    www.grxpl.com