Suite 1220 — 666
Burrard St
Vancouver British
Columbia
V6C 2X8
Telephone (604)
685-0088
Fax (604) 685-0078
Toll Free 1.877.685.0088
Web www.grxpl.com
GUERRERO TO ACQUIRE 100% INTEREST IN COATAPEC
PROPERTY NEXT TO NEWSTRIKE’S ANA PAULA DISCOVERY
Vancouver, BC - November 1st, 2011, Guerrero Exploration
Inc.
("Guerrero" or the "Company") (TSX-V: "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 propertys 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 Golds “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
Guerrero Exploration Inc.
Direct: (604) 685-0088 Ext.
229
Corporate Communications: (604) 685-0088 Ext.
226
Email inquiries:
Website: www.grxpl.com
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.
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