GEX

Guerrero Exploration Inc. ("Guerrero" or the "Company") (TSX
VENTURE:GEX)(FRANKFURT:2GU) is pleased to announce the Company has entered into
a letter of engagement with Euro Pacific Canada Inc. ("the Agent"), pursuant to
which the Agent has agreed to place, on a best efforts basis, up to 10,000,000
Units at $0.15 per Unit for total gross proceeds of $1,500,000. Each Unit will
consist of one common share and one-half of a common share purchase warrant (a
"Warrant"). In addition, the Company will grant the Agent an option to sell up
to 15% additional Units under the same terms to raise additional gross proceeds
of $225,000. Each whole Warrant will entitle the holder to purchase one common
share at $0.25 for a period of 12 months from the date of closing.


The Units issued in connection with the private placement will be subject to a
four month hold period from the date of closing. The Company intends to use the
net proceeds of the Offering to fund the advancement of the Company's properties
in Mexico and for general corporate purposes.


The Agent will receive up to 8% of the gross proceeds of the private placement
and will receive broker's warrants, exercisable for a period of 24 months
following closing, to acquire in aggregate that number of common shares which is
equal to 8% of the number of Units sold under the Offering at an exercise price
of $0.15 per share.


Closing of the Offering is anticipated to occur pursuant to two closings, with
the first closing anticipated on or about March 16, 2012 and the second closing
anticipated to occur on or about on March 28, 2012 and is subject to certain
customary conditions including, but not limited to the receipt of approval of
the TSX Venture Exchange. 


Guerrero Exploration Inc. attended the recent Guerrero Gold Belt conference in
Toronto hosted by the Agent, who has extensive knowledge of the Guerrero Gold
Belt and has been involved in recent syndicate financings of companies with
properties on the Belt.


About Euro Pacific Canada Inc. 

Euro Pacific Canada is an IIROC registered brokerage headquartered in Toronto,
Ontario specializing in foreign markets, precious and strategic metals
investing. The firm offers an integrated platform of investment banking,
institutional sales and trading, research, and private client services following
the advice laid out by Euro Pacific Capital's Chief Global Strategist, Peter
Schiff, an internationally recognized economist and market strategist.
Additional information is available at www.europac.ca.


About Guerrero Exploration Inc. 

Guerrero Exploration Inc. is a Canadian based mineral exploration 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 futher
information, please visit 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).

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