Guerrero Exploration Inc.
TSX VENTURE : GEX

Guerrero Exploration Inc.

February 04, 2011 23:52 ET

Guerrero Increases Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 4, 2011) - Guerrero Exploration Inc. ("Guerrero" or the "Corporation") (TSX VENTURE:GEX) announces it has increased the previously announced (January 19, 2011) private placement up to $500,000 (2,500,000 units at $0.20 per unit), subject to regulatory approval. Each unit consists of one share and one warrant entitling the holder to acquire an additional share for $0.30 for a period of 2 years from closing. Insiders will participate in the private placement up to 25%. Proceeds will be used for general working capital and exploration.

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