AUCKLAND, New Zealand,
May 3, 2011 /PRNewswire/ -- Guinness
Exploration Inc. (Over-The-Counter Bulletin Board:
GNXP) ('Guinness') announced today its partner Ansell Capital Corp
(TSXV: ACP) ('Ansell') has successfully raised Cdn$5,582,000 (US$5,297,318) to fund exploration work at the
Charlotte Project located in the Whitehorse Mining District of the
Yukon Territory.
This funding initiative fulfills a key term of the definitive
Ansell Agreement executed on March 4,
2011 by Guinness, Eagle Trail Properties Inc., Ansell and
two private individuals and provides sufficient capital for the
first stage of development at the Charlotte Project.
Guinness' CEO Alastair Brown
commented: "We're very pleased with the work our partner Ansell
Capital has done to raise funds to further explore the Charlotte
Project. Based on assays from last year's exploration program we
believe the Charlotte Project may hold significant potential gold
reserves and warrants a substantive exploration program. This round
of funds will support the next stage of development which is
expected to include further drilling and trenching this summer,
once ground conditions allow."
About Guinness Exploration
Guinness Exploration Inc. trades on the OTC-BB under the symbol
GNXP. The Company was incorporated in Nevada in 2006 and incorporated its subsidiary
Nantawa Resources Inc. in Yukon,
Canada in 2009. In November, 2009 Guinness entered an
agreement to acquire mineral claims for the Mount Nansen and the
Tawa gold and silver exploration properties (collectively the
'Nantawa Project') in the Yukon
and is now developing an exploration program. The Nantawa Project
is situated in the prolific Tintina Gold Belt, a 1,200 km long area
extending from northern British
Columbia, through the Yukon
Territory and into southwest Alaska. The Tintina Gold Belt includes such
world-class, multi-million ounce gold deposits as Pogo, Fort Knox,
True North, and Donlin Creek. The
Nantawa Project claims consist of 128 full or fractional claims
with a total area of 2,336.14 square hectares located in the South
Central part of the Yukon, 180 km
Northwest of Whitehorse and 60 km
west of the Village of Carmacks.
For more information on the Charlotte Project please see
www.ansellcapital.com and www.guinnessexploration.com.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Certain information contained in this press release,
including any information as to our strategy, plans or future
financial or operating performance and other statements that
express management's expectations or estimates of future
performance, constitute "forward-looking statements." All
statements, other than statements of historical fact, are
forward-looking statements. The words "believe," "expect," "will,"
"anticipate," "contemplate," "target," "plan," "continue,"
"budget," "may," "intend," "estimate," "project" and similar
expressions identify forward-looking statements. In this press
release, the expressions: "Based on assays from last year's
exploration program we believe the Charlotte Project may hold
significant potential gold reserves...' and "This round of funds
will support the next stage of development, which is expected to
include further drilling and trenching once ground conditions allow
this summer," are forward-looking statements.
Forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements, including,
but not limited to, certain delays beyond the company's control
with respect to mining operations, changes in the worldwide
price of gold, silver, or certain other commodities; legislative,
political or economic developments in the jurisdictions in which
the Company carries on business; operating or technical
difficulties in connection with mining or development activities;
employee relations; contests over title to properties; and the
risks involved in the exploration, development and mining business.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law.
SOURCE Guinness Exploration Inc.
