Guerrero Exploration Inc.
TSX VENTURE : GEX

Guerrero Exploration Inc.

February 23, 2011 04:00 ET

Guerrero Adds Experience, William H. Petrie Sr. Joins the Advisory Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 23, 2011) - Guerrero Exploration Inc. ("Guerrero" or the "Corporation") (TSX VENTURE:GEX) is pleased to announce William H. Petrie joins the Advisory Board. Mr. William H. Petrie Sr. is the current President and CEO of Birch Lake Energy Inc. and the President of Marengo Petroleum Corp. a private oil and gas exploration company from 1979 to present. From 2001 to its sale in 2004, he was president of Montego Exploration Ltd., a private oil and gas company; from 1997 to 2001 president of Marengo Exploration Ltd., a public company, until its sale; and from 1997 to 2000 a director of Peyto Exploration and Development. In 1985, Mr. Petrie Sr. founded Stockmen Minerals Ltd. to explore for platinum group metals in northern Quebec and to acquire a gold property in N.W.T. Stockmen was later restructured to become New Indigo Mines Ltd., a successful diamond explorer in N.W.T.

Mr. Petrie began his oil and gas career in 1973 with Mobil Oil Canada. In 1977, he joined the junior sector where he has been actively involved in management and direction of public and private companies since 1980. Prior thereto, from 1969 to 1973, he worked in both exploration and mine production for Sherritt Gordon Mines in Manitoba, and later as drill foreman on a Cominco exploration project in N.W.T.

Mr. Petrie holds a B.Sc. Hon. degree in Geology from University of Saskatchewan.

David Stadnyk, President and CEO of Guerrero said, "We are pleased to welcome Mr. Petrie to the Advisory Board. Mr. Petrie has made extensive contributions to the companies with which he has been involved with in the past. Guerrero looks forward to executing the exploration work program on its Mexico project with input from the Advisory Board and views Mr. Petrie's experience on both the corporate and technical sides of the resource industry as a valuable asset to the Company."

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 Guerrero Gold Belt. The Corporation's common shares trade on the TSX Venture Exchange under the symbol "GEX".

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, production, reserves, revenue, commodity prices, operating and administrative expenditures, funds from operations, capital expenditure programs and debt levels contain forward-looking statements. In particular, this press release contains statements concerning the anticipated review of seismic data and identification of drilling prospects and establishing a portfolio base and the anticipated closing date of the Offering and the anticipated amount and use of gross proceeds of the Offering. 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, 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 problems, 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 Chief Executive Officer
    604.685.0088 Ext. 229
    or
    Guerrero Exploration Inc.
    Investor Relations
    604.685.0088 Ext. 228
    info@grxpl.com