Guerrero Exploration Inc.
TSX VENTURE : GEX

Guerrero Exploration Inc.

May 31, 2011 04:00 ET

Guerrero to Commence Drilling at the Chapalota Project in Sinaloa, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 31, 2011) - Guerrero Exploration Inc. (TSX VENTURE:GEX) ("Guerrero" or the "Corporation") is pleased to announce the field program at the Chapalota project in Sinaloa, Mexico project is progressing towards refining the Leona target for drill testing in June.

The Chapalota property is primarily an orogenic gold project and the Leona target was previously defined by geological mapping of scarce outcrops of a north-south trending fault carrying gold values up to 32.1 g/t.

An Induced Polarization (IP) dipole-dipole survey was initiated to delineate the orientation of the fault under cover. Geofisica TMC was contracted to complete seven lines of IP (2km lines at 300m spacing for 14 line kms) over the Leona target area. Initial results indicated an east dipping conductive zone that is interpreted to define the fault. Due to the apparent success of IP in detecting the fault under cover, the extent of the survey has been doubled for another seven lines of which three have been surveyed. This data is critical for positioning drillhole collars to test for mineralization along the extent of the fault.

Major drilling has been contracted to commence drilling at Leona on June 1, 2011 using a man portable diamond drill. A bulldozer is on site now improving roads for better drill access. An excavator is currently on site to trench drill lines for better geological control of the drillhole collar locations and eventually to assist with interpretation of the drill sections.

During a recent site inspection of the Leona target at the Chapalota project in Sinaloa, Mexico project, David Stadnyk, President & CEO of Guerrero Exploration Inc., stated, "The Leona target has shown significant potential for discovery. Guerrero will follow the progression of results from the Induced Polarization (IP) survey with great anticipation of success and looks forward to the commencement of the drill program."

Assaying and Qualified Person:

Samples were taken to Hermosillo, Mexico where ALS Laboratory Group's mineral division ALS Chemex crushed and pulverized each sample. The rejects remained with ALS Chemex while the pulps were transported to ALS Chemex's ISO 9001-2008 certified laboratory in North Vancouver, BC, Canada for analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Duplicate, standard and blank samples were randomly inserted into the sample stream prior to being sent to the laboratory.

The scientific and technical data contained in this press release was prepared under the supervision of Troy Gill, BSc (Geol.), VP Exploration of the Corporation and 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 is committed to a long term business strategy designed to achieve optimal levels of profitability and shareholder value. Guerrero 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".

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 completion and review of exploration programs and assays. 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 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 Chief Executive Officer
    (604) 685-0088 Ext. 229

    Guerrero Exploration Inc.
    Investor Relations
    (604) 685-0088 Ext. 228
    info@grxpl.com