VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2011) - Guerrero Exploration Inc. ("Guerrero" or the "Corporation") (TSX VENTURE:GEX) is pleased to announce the completion of the 2011 drill program on the Chapalota Gold Project, located in Sinoloa, Mexico. A total of nine diamond drill holes and over 2,153 metres of drilling have now been completed. Seven holes and over 1,750 metres of drilling tested the high priority Leona target that had previously returned surface rock-chip samples of over 32 g/t Au. Two additional holes were drilled into the newly identified Habas target, a potential new gold zone discovered during drill preparation.
Guerrero's 2011 drilling campaign at the Chapalota project tested a combination of gold mineralized outcrops, soil geochemical anomalies and IP anomalies. Drill cores have been logged and submitted to ALSGlobal Minerals Laboratories for fire assay with results expected to be available shortly.
Chapalota Drill Core Pictures: http://www.grxpl.com/projects/chapalota/photo-gallery/chapalota/chapalota-core-pictures.html
In other news, Guerrero has commenced the due diligence process of acquiring additional land in the highly prolific Guerrero Gold Belt and management is excited about the potential new acquisition. The Guerrero Gold Belt is one of Mexico's largest and most prolific Gold producing regions.
Chapalota Gold Project:
Guerrero Exploration Inc. is earning a 70% interest in the Chapalota Gold Project through a Joint Venture Agreement with Riverside Resources Inc. The project is located in the highly productive Western Gold Belt on the western side of the Sierra Madre Occidental Region of Mexico Opportunity for Orogenic Gold mineralization.
The scientific and technical data contained in the presentation 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 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".
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.