GEX

Guerrero Exploration Inc. ("Guerrero" or the "Corporation") (TSX VENTURE:GEX)
(FRANKFURT:2GU) announces that it has, subject to regualtory approval, amended
the terms of its previously announced non-brokered private placement of up to
$250,000 by issuing 5,000,000 units ("Units") at $0.05 each by amending the
terms of the warrants being offered. 


Each Unit consists of one common share and one common share purchase warrant.
Each warrant is exercisable for 5 years from closing at an exercise price of
$0.10 per common share, subject to acceleration in the event the Corporation
disseminates a press release advising that its shares have traded on the TSX
Venture Exchange at a price per share greater than $0.30 for 10 consecutive
trading days (including days where no shares are actually traded), in which case
the warrants shall expire, without further notice, on the 31st day following the
issuance of the press release. Notwithstanding the foregoing, in no event shall
the Corporation be entitled to issue such a press release within four months of
the date of closing. The Corporation plans to use the proceeds from this
financing for general working capital and exploration. Guerrero may pay finder's
fees to those assisting it in completing this financing in the amount of 8% cash
and 8% finder's warrants, each such finder's warrant entitling the holder to
subscribe for one share for $0.10 for a period of 12 months.


The Corporation's recently announced proposed transaction with Riverside
Resources Inc. contains penalty provisions in the event that a share
consolidation occurs within 1 year of closing of that transaction. That
transaction is subject to regulatory and shareholder approvals.


In addition, the Corporation has, subject to regulatory approval, extended
certain of its outstanding warrants for an additional year. 3,333,334 warrants
exercisable at $0.30 will now expire on July 19, 2013 and 2,500,000 warrants
exercisable at $0.30 will now expire on February 15, 2014.


About Guerrero Exploration Inc.

Guerrero is committed to a long term business strategy designed to achieve
optimal levels of profitability and shareholder value. Guerrero 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 more information, please visit
www.grxpl.com or contact investor relations.

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