Gunpoint Exploration Ltd. (TSX VENTURE:GUN) ("Gunpoint" or the "Company") is
pleased to announce that it has closed its previously announced non-brokered
private placement. Gunpoint issued a total of 3,900,000 units ("Units") of the
Company at a price of $0.50 per Unit for gross proceeds of $1,950,000. Each Unit
consists of one common share in the capital of the Company and one-half of a
share purchase warrant ("Warrant"). Each whole Warrant is exercisable to
purchase an additional common share for 12 months from the date of issuance at a
price of $0.75.


Gunpoint paid finders' fees of $53,400 in cash and 24,000 in common shares in
the Company in connection with the private placement. Proceeds of the private
placement will be used to fund further exploration on the Company's Talapoosa
gold project in Nevada, the Guatemalan El Escorpion silver property, as well as
for general corporate purposes.


The common shares issued pursuant to the Private Placement and the common shares
issued to the finder are subject to a hold period that expires on February 24,
2013.


For more information on Gunpoint, please visit our website at
www.gunpointexploration.com.


GUNPOINT EXPLORATION LIMITED

E. Max Baker, President

FORWARD-LOOKING STATEMENTS

Some of the statements contained in this press release are forward-looking
statements. More particularly, this press release contains statements concerning
the anticipated use of the proceeds of the Private Placement. Although Gunpoint
believes that the expectations reflected in these forward-looking statements are
reasonable, undue reliance should not be placed on them because Gunpoint can
give no assurance that they will prove to be correct. Forward-looking statements
address future events and conditions, and as such they involve inherent risks
and uncertainties. The Company does not intend to, and does not assume any
obligation to update such forward-looking statements or information, other than
as required by applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Gunpoint Exploration Ltd.
Investor Relations
604-916-8920
www.gunpointexploration.com
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