GEX

Guerrero Exploration Inc. ("Guerrero" or the "Company") (TSX VENTURE:GEX) and
its partner, Riverside Resources Inc. ("Riverside"), have agreed to terms on a
transaction (the "Transaction") that will result in Guerrero owning 100%
interests in the Cerro Azul and Chapalota projects (the "Projects") with
Riverside receiving $2,000,000 in Guerrero shares. After the Transaction is
complete, Riverside will become the largest single shareholder of Guerrero. 


The Transaction will strengthen the partnership between the two companies, with
Riverside having an opportunity to increase its management presence and support
through representation on the Board of Directors and Advisory Board. This
agreement will facilitate exploration progress and allow Riverside and Guerrero
to take strides towards an initial drill program at the Cerro Azul copper-gold
project and follow-up on remaining drill targets at Chapalota. Further,
Riverside's on-the-ground team in Mexico will assess and advance other
properties for Guerrero's portfolio. Both companies already enjoy a strong
working relationship and believe that this Transaction will leverage the
knowledge and resources required to identify valuable opportunities moving
forward. 


John-Mark Staude, President and CEO of Riverside Resources Inc., commented:
"This agreement will provide Riverside shareholders with strong upside given
that Riverside will now hold such a substantial share position in Guerrero."
Staude added, "We look forward to working towards drill testing and advancing
high quality prospects that will generate value for both Guerrero and Riverside
shareholders at a time when it is vital for companies to consolidate ownership
and focus on the best chances for discovery."


David Stadnyk, President and CEO of Guerrero Exploration Inc., commented:
"Having Riverside acquire a major control block and adding three of their key
executives to Guerrero's Board of Directors and Advisory Board is a major step
forward for the company. Given our successful past working relationship and
Riverside's ability to acquire properties and partnerships, this new development
will propel Guerrero to the next level. We will leverage off Riverside's past,
present, and future success to better solidify Guerrero's ultimate goal in
finding a resource."


Property Details: 

Cerro Azul is located near the highly productive southwestern Mexico, Guerrero
Gold Belt. The 2011 work program on the 261 km2 property consisted primarily of
rock chip and soil samples. 


Chapalota is located along the western side of the Sierra Madre Occidental
Region of Mexico. The 91 km2 property is 50 km to the south of Silvermex's
Rosario deposit and 70 km to the north of Oro Mining's La Trinidad deposit.
Riverside and Guerrero completed IP and soil surveys defining six target areas
on the Project. 


Further Transaction Details: 

Riverside has agreed to transfer its 40% interest in the Cerro Azul Project and
its 100% interest in the Chapalota Project in exchange for $2,000,000, payable
in shares of Guerrero. The $2,000,000 in shares will be issued at the issue
price of a strategic financing of at least $700,000 that Guerrero will conduct
at or around time of closing. David Stadnyk will continue to serve as President
and CEO and, in addition to having two members of Riverside's Senior Management
(Robert Scott and Howard Davies) appointed to Guerrero's Board of Directors,
John-Mark Staude will be appointed to Guerrero's Advisory Board. The Transaction
will qualify as a change of control, as defined under the rules of the TSX
Venture Exchange, and as such will require Guerrero shareholder approval, as
well as Exchange approval. 


David Stadnyk, President and CEO 

Guerrero Exploration Inc. 

For more information on Guerrero Exploration Inc., please visit our website at
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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