Guerrero Exploration Inc.

Guerrero Exploration Inc.

November 24, 2011 04:00 ET

Guerrero to Seek Additional Land in the Guerrero Gold Belt, Farm-In Opportunity in the Sierra Madre Occidental Belt, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 24, 2011) - Guerrero Exploration Inc. (TSX VENTURE:GEX) ("Guerrero" or the "Company") announces that out of the 81,370 hectares comprising the Coatapec property (press release dated November 1, 2011) the Company has identified approximately 11,000 hectares that exhibit similar geological trends in close proximity of producing gold mines and large proven gold, silver and copper reserves in the Guerrero Gold Belt. The companies in the surrounding area include Goldcorp's "Los Filos" gold mine, currently the largest gold mine in Mexico, 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".

Guerrero's management believes these 11,000 hectares are highly prospective and have the greatest potential for metallic mineralization. An extensive exploration work program is contemplated. The Coatapec property is subject to the final receipt of permits, and the Company now expects that it will not receive permits for the total 81,370 hectares but has a high degree of confidence that permits for the most prospective 11,000 hectares will be obtained.

Guerrero has identified an additional 81,000 hectares (more or less and subject to final review and staking) strategically located in the Guerrero Gold Belt. Guerrero's total potential land base would be approximately 92,000 hectares in the Guerrero Gold Belt. Additional evaluation of further structural interpretations, from both surface exploration and drilling, will provide the framework for the potential of the property. An update, on the developments of the potential land package, is anticipated shortly.

In addition, Guerrero is commencing the due diligence on a potential farm-in opportunity which is centered in the Southern Sinaloa State, Mexico. The property is located in the western foothills of the Sierra Madre Occidental, one of the world's largest silicic igneous provinces. Past regional geochemical work performed by the Servicio Geologico Mexicano, at the turn of the millennium, highlighted the District as one of the largest contiguous anomalies for gold and base metals in southern Sinaloa and Northern Nayarit.

The potential farm-in opportunity, subject to the completion of due diligence, will compliment the Chapalota property, Sinaloa, Mexico. Chapalota's first pass drill program provided sample results, see Press Release dated October 17, 2011.

Guerrero is committed to generate high potential projects with unrecognized exploration value by acquiring the central land holding from private owners and to build a larger regional land base in Mexico.

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 Guerrero Exploration Inc.

Guerrero Exploration Inc. is a Canadian based exploration mining company with a focus on Mexican Gold, Copper and Silver mining areas known as the Guerrero Gold Belt, 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 or contact investor relations.

On Behalf of the Board of Directors

David Stadnyk, President and CEO


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