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Ginguro Exploration Inc
Symbol GEG
Shares Issued 84,483,806
Close 2014-07-25 C$ 0.225
Market Cap C$ 19,008,856
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Ginguro, Endurance sample three m of 26 g/t Au at Pardo

2014-07-28 10:05 ET - News Release

Also News Release (C-EDG) Endurance Gold Corp

Mr. Richard Murphy of Ginguro reports

GINGURO DISCOVERS NEW HIGH-GRADE GOLD ZONE AT PARDO

Ginguro Exploration Inc. has discovered a new zone of high-grade gold mineralization on the Pardo joint venture property, which is located approximately 65 kilometres northeast of Sudbury, Ont.

The new area, called the Godzilla zone, is located approximately 450 metres south of the high-grade 007 zone that was announced in August of 2013. An initial five grab samples at the Godzilla zone yielded gold grades from 1.3 grams per tonne to 10.7 g/t.

The Godzilla zone has now been exposed over a broad area measuring 150 metres north-south by up to 125 metres east-west. Three separate channel samples were taken along the north-south axis of the zone in order to begin to characterize the grade. These three initial channels ran 17.4 g/t Au over three metres, 14.1 g/t over four m and 26.2 g/t Au over three m. Maps and photos illustrating the location of the Godzilla zone, and the location of the initial channel samples will be posted on the company's website. The test channels returned the assays shown in the attached table.

Ch-14-01sp South    Ch-14-02sp Middle     Ch-14-03sp North 
(three m channel      (four m channel     (three m channel 
averaging                   averaging            averaging 
17.4 g/t Au)              14.1 g/t Au)         26.2 g/t Au) 
Length      Gold     Length      Gold      Length     Gold 
(m)         (g/t)        (m)     (g/t)         (m)    (g/t) 

0.5         12.3        0.5      11.8         0.5     22.3 
0.5         13.1        0.5      14.2         0.5     52.2 
0.5         12.9        0.5       6.1         0.5     13.7 
0.5         28.5        0.5       7.4         0.5     31.5 
0.5         26.0        0.5      17.1         0.5     26.9 
0.5         11.6        0.5      15.9         0.5     10.4 
                        0.5      22.8 
                        0.5      17.4 

Due to the near-flat-lying nature of the sedimentary strata, it is not always possible to cut samples across the gold-bearing strata. Samples are usually collected either parallel or perpendicular to the interpreted paleochannel direction; therefore, the channel lengths reported in this release represent the gold distribution over the surface area sampled and do not represent true thicknesses of the mineralized unit.

The gold-bearing conglomerate tested at the Godzilla zone appears to have a true thickness of approximately four metres.

Washing of the bedrock has revealed a coarse cobble to quartz pebble conglomerate having elevated uranium responses, as measured by a spectrometer. Mineralization is characterized by fine, rounded detrital pyrite and local buckshot pyrite. Based on the company's experience at Pardo, the combination of these characteristics indicates higher grades of gold. Extensive channel sampling is continuing at the Godzilla zone. A total of 210 samples, representing 105 metres, have been cut and delivered for assay, and additional channels are planned to be cut.

Ginguro management believes that the assays from these initial test channels confirm the importance of this new area. The Godzilla zone lies within a north-south-oriented trend in which the host conglomerates of the Mississagi formation have eroded and channelled their way through the underlying strata, including most of the gold-enriched Matinenda formation. As a result of this erosion, the Mississagi formation in this wide channel became significantly enriched with gold in a long-lived placer river setting. This interpreted trend extends from approximately 700 metres north of the 007 zone to 850 metres south of the Godzilla zone for a total of 2,000 metres north-south. The width of this interpreted channel may exceed 500 metres in places.

The qualified person responsible for the geological technical content of this news release is Richard Murphy, PGeo, president and chief executive officer of Ginguro Exploration.

The samples are transported in security-sealed bags for preparation at AGAT prep lab located in Sudbury, Ont. Prepped samples are shipped for analysis to the AGAT assay laboratory in Mississauga, Ont. AGAT Laboratories Ltd. is an ISO 17025-registered laboratory. Samples were analyzed by industry-standard 50-gram fire assay fusion with atomic absorption spectroscopy (AAS) finish, and a gravimetric finish on samples exceeding 10 g/t gold. The company inserts a certified reference standard or an analytical blank in every batch of 20 samples. Validation parameters are established in the database to ensure quality control.

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