EDW

Edgewater Exploration Ltd. ("Edgewater" or the "Company") (TSX
VENTURE:EDW)(OTCQX:EDWZF) is pleased to announce a US$5,000,000 financing
through the sale of royalty interests on the Company's 100% owned Corcoesto Gold
Project in northwest Spain and a non-brokered private placement to an arm's
length third party (the "Transaction"). The details of the Transaction include:




a)   the creation and sale of a 1.0% net smelter return ("NSR") royalty on  
     production from the Corcoesto Gold Project and the sale of Edgewater's 
     right to purchase 1.0% of the existing 1.5% NSR (see news release July 
     28, 2010) for total cash proceeds of US$4,000,000. As part of the      
     agreement, the previous owner retained a 1.5% NSR on the Corcoesto Gold
     Project and granted Edgewater the right to buy back 1.0% of the 1.5%   
     NSR; and                                                               
                                                                            
c)   a non-brokered private placement consisting of 2,436,250 units at a    
     price of C$0.40 per unit and an exchange rate of CAD$:US$ = 1.026 for  
     gross proceeds of US$1,000,000. Each unit will consist of one common   
     share and one common share purchase warrant. Each warrant will allow   
     the holder to purchase one common share in Edgewater for a period of 12
     months from closing at a price of C$0.50 per share.                    



President and CEO George Salamis stated, "We are very pleased to announce this
Transaction, which we view as an endorsement of the Corcoesto Gold Project. The
royalty sale will allow Edgewater to minimize shareholder dilution while
providing additional capital to advance the Corcoesto Gold Project through
permitting and final feasibility." 


On completion of the Transaction Edgewater's 100% owned Corcoesto Gold Project
will be subject to a total NSR royalty on production of 2.5% and the Company
will have a working capital position of $6.0 million. 


A 6.0% finder's fee payable in cash or common shares of the Company will be paid
on the total Transaction.


Completion of the Transaction is subject to approval of the TSX Venture Exchange
and other conditions typical to a Transaction of this nature. Closing of the
Transaction is expected to occur on or about September 26, 2012.


About Edgewater Exploration Ltd.

Edgewater is a mineral development and exploration company focused on the
development of precious metal properties. Edgewater has an experienced mine
building and operating team with a track record of success. The Company is
currently developing the Corcoesto Gold Project in northwest Spain, and
exploring the Enchi Gold Project in Ghana, West Africa.


On behalf of the board of EDGEWATER EXPLORATION LTD.

George Salamis, President and CEO

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking
statements", including statements respecting the anticipated completion of the
Transaction and the anticipated receipt of the proceeds therefrom, completion of
standard conditions and regulatory approvals. Forward-looking statements are
subject to a number of risks and uncertainties that may cause the actual results
of Edgewater to differ materially from those discussed in the forward-looking
statements. Factors that could cause actual results or events to differ
materially from current expectations include, among other things, failure by
Edgewater to obtain any necessary regulatory approvals and failure of either
Edgewater or the purchaser to satisfy closing conditions. Edgewater disclaims
any intent or obligation to update any forward-looking statement unless required
by law. Although Edgewater believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and accordingly undue reliance should not be
put on such statements.

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