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Guerrero Ventures appoints Weidner VP of exploration

2014-08-21 15:47 ET - News Release

Mr. David Baker reports

GUERRERO APPOINTS SIEGFRIED (SIG) WEIDNER TO POSITION OF VP EXPLORATION AND GRANTS OPTIONS

Guerrero Ventures Inc. has appointed Siegfried (Sig) Weidner, BSc, PGeo, to the position of vice-president, exploration, of the company, effective immediately.

As vice-president, exploration, Mr. Weidner will be responsible for the management of the company's option of the Biricu property in the Guerrero gold belt in Mexico, including the company's planning and execution of all exploration programs.

Mr. Weidner has over 25 years of successful international mineral exploration experience with junior and major international exploration and mining companies. His significant experience includes early identification of potentially significant mineral deposits, advanced project management, development and management of exploration programs from greenfields to the prefeasibility stage, and discovery and delineation of economic mineral resources, as well as important exposures to the field of health, safety, environment and community relations. Contributions to various exploration companies and projects have allowed Mr. Weidner to foster an extensive network of industry professionals, including a network of investors in North America and Europe.

Most recently, Mr. Weidner served as vice-president, exploration, for Geologix Explorations Inc., where under his leadership the exploration department was able to successfully identify the San Agustin polymetallic porphyry deposit in Durango state, Mexico, and significantly increase resources from 2007 to 2009. During 2010 to 2013 Mr. Weidner's exploration department played a significant role in moving the Tepal gold-copper porphyry project in Michoacan state, Mexico, from an exploration play to the development stage with a completed prefeasibility study. Prior to joining Geologix in 2006, Mr. Weidner spent 18 years with Rio Algom Ltd./Billiton/BHP Billiton in senior roles both in the exploration and operations departments. Mr. Weidner has been awarded the prospector of the year (New Brunswick PDAC branch) award in 1993 and the International Bill Dennis (PDAC) prospector of the year award in 1998 for the discovery of the Spence porphyry copper deposit in Chile.

In accordance with the company's stock option plan, Guerrero has granted to certain directors, officers, employees and consultants incentive stock options to purchase up to an aggregate of 3.5 million common shares in the capital stock of the company for a period of five years at a price of 16 cents per share, subject to TSX Venture Exchange reacceptance of the stock option plan, which was reapproved by shareholders at the most recent annual meeting.

Biricu project

Guerrero, through its recently acquired subsidiary, Citation Minerals Inc., has an option agreement with Esperanza Resources Corp. (a subsidiary of Alamos Gold Inc.) to acquire a 100-per-cent interest in the Biricu project mineral exploration concession located in Guerrero state, Mexico. The Biricu project comprises more than 41,000 hectares of highly prospective ground and management believes that the Biricu project is the direct on-strike extension of five skarn deposits in the Guerrero gold belt (El Limon-Los Guajes -- Torex Gold Resources Inc.; Bermejal, Los Filos and Nukay -- Goldcorp Inc.; Ana Paula -- Newstrike Capital Inc.).

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