GEX

Guerrero Exploration Inc. ("Guerrero" or the "Company") (TSX
VENTURE:GEX)(FRANKFURT:2GU) announces that the Company has completed the first
closing of the previously announced private placement being brokered by Euro
Pacific Canada Inc. 2,562,500 units at $0.125 per unit were issued for total
gross proceeds of $320,312.50. Each unit consists of one common share and
one-half of a common share purchase warrant (a "Warrant"). Each whole Warrant
entitles the holder to purchase one common share at $0.25 for a period of 12
months from the date of closing. Insiders participated as to $37,500.
Commissions of $25,828.12 and 206,625 broker warrants exerciseable for 2 years
from closing at $0.125 were issued in connection with this closing. 


The securities issued in connection with this closing are subject to a hold
period until July 30, 2012. 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.


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 further
information please visit www.grxpl.com or contact investor relations.


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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