VanEck Low Carbon Energy ETF V.GEX

News Release

[tonymore]

Mar. 7, 2011 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/07/11 -- Guerrero Exploration Inc. (TSX VENTURE:GEX) ("Guerrero" or the "Corporation") is pleased to announce that Guerrero and Riverside Resources Inc. ("Riverside") (TSX VENTURE:RRI) have entered into a Letter Agreement whereby Guerrero can acquire a 70% interest in Riverside's Chapalota Property (the "Property"). Guerrero must issue Riverside an aggregate 1,250,000 Common shares, make total cash payments of $200,000 to Riverside, and incur $2,250,000 in exploration expenditures on the Property within 36 months of the agreement. A finder's fee may be paid on the property.
Property Details:
The Chapalota property is located approximately 50 km northeast of the city of Mazatlan in south-central Sinaloa, Mexico, immediately north of Geoinformatics' Azulitas polymetallic sulphide deposit (5.6 million tonnes of 0.9% Cu-Eq.). The Chapalota property covers an area of 8,073 hectares and is located on the western margin of the Sierra Madre Occidental Belt with good road access, water, power and related infrastructure.
As part of Guerrero's standard due diligence process, the Company received compiled extensive geo-scientific information on the Western Gold Belt from Riverside to better understand the regional geologic structures and mining history. This belt has long been known for its major epithermal gold-silver deposits of the Sierra Madre Occidental Province, such as the San Dimas District - Tayoltita Mine, which lies directly to the east of the Chapalota Project. The application of modern exploration techniques in central Sinaloa has identified numerous new metal rich zones. The Chapalota Project is located approximately 50 kms north of Silvermex's Rosario Mine, and is approximately 150 kms south of US Gold's Majistral Mine, Oro Gold's La Trinidad Mine, and Scorpio's Nuestra Senora Mine. The geology on the Chapalota property fits in the middle of this cluster and is geologically comparable with many of the nearby deposits.
Rock chip channel samples returned values up to 32 g/t gold from the summer exploration program on the 100% Riverside owned project. Results from the program identified rock chip channel samples ranging from less than 0.5 ppb to 32 g/t Au over 0.5-3 metre rock sample widths.
Riverside's 2010 exploration program discovered six distinct high-grade gold zones using rock chip channel samples, guided in part by previous soil and stream sediment sampling results. Assay results from rock samples received include higher grades associated with shear zones and through-going fault structures, as well as shear and brittle-ductile fault intersections. Some of the gold highlights from the rock chip channel sampling include 32.1 g/t Au over 0.5m, 5.68 g/t Au over 1.5m, 3.13 g/t Au over 1m, and 2.3 g/t Au over 0.9m.