EDW

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES AND DOES NOT CONSTITUTE AN OFFER IN THE UNITED STATES OF THE SECURITIES
DESCRIBED HEREIN


Edgewater Exploration Ltd. (TSX VENTURE:EDW) (the "Company") is pleased to
announce that it has completed its previously announced $5 million bought deal
private placement of 11,112,000 common shares ("Common Shares") of the Company
at a price of $0.45 per Common Share (the "Offering"). The Offering was
underwritten by a syndicate of underwriters co-led by Cormark Securities Inc.
and Fraser Mackenzie Limited, and including Canaccord Genuity Corp. and Haywood
Securities Inc. (collectively, the "Underwriters").


In connection with the Offering the Company paid the Underwriters a cash
commission equal to 6% of the gross proceeds of the Offering as well as broker
warrants equal to 6% of the Common Shares sold under the Offering exercisable
for a 24 month period.


The net proceeds of the Offering will be for continued advancement of the
Company's Corcoesto Gold Project in Spain and for general working capital
purposes.


All securities issued under the Offering are subject to a four month plus one
day hold period expiring on June 14, 2013. 


The securities described herein have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States unless registered under the Act or unless an exemption from registration
is available.


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

FOR FURTHER INFORMATION PLEASE CONTACT: 
Edgewater Exploration Ltd.
Ryan King
Vice President
(604) 628-1012
rking@edgewaterx.com

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