VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 18, 2012) - Guerrero Exploration Inc. ("Guerrero" or the "Corporation") (TSX VENTURE:GEX)(FRANKFURT:2GU) announces that it has, subject to regulatory approval, agreed to issue the following shares from treasury at a deemed issue price of $0.15 per share:
The Corporation will issue 1,000,000 shares to Riverside Resources Inc., the operator of the Corporation's Mexican properties, to settle debts of $150,000 arising from the just completed work program.
The Corporation will issue 110,000 shares to Dunedin Inc., of New York, New York, pursuant to a business development consulting agreement entered into on October 7, 2011. Additional issuances of 200,000 shares will be issued on February 28, 2012 and April 30, 2012 provided the consulting agreement has not been terminated by either party prior to those dates.
Both issuances will be subject to 4 month trading restrictions from the date they are issued.
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) and the Frankfurt Stock Exchange under the symbol (2GU). For further information please visit www.grxpl.com or contact investor relations.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.