Gunpoint Exploration Ltd.: Talapoosa Measured and Indicated Resource Increases to 1.01 Million Ozs of Gold and 13.6 Million Ozs of Silver

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2013) - Gunpoint Exploration Ltd ("Gunpoint") (TSX VENTURE:GUN), a Canadian resource exploration company actively engaged in mineral exploration in Nevada and Guatemala, is pleased to announce that Tetra Tech Inc. ("Tetra Tech") has completed a revised National Instrument 43-101 Resource Estimate on the Talapoosa gold-silver project located in Nevada.

Table 1: Updated Talapoosa Measured & Indicated Resource Estimate, Tetra Tech.

The resource estimate by Tetra Tech, incorporates the results of Gunpoint's 2011 drill program and remodeling of the controls on the mineralization, adding approximately 380,000 ounces of gold and 5.4 million ounces of silver compared to the previous 43-101 resource estimate of September 2010. The previous NI 43-101 report included a Measured and Indicated resource of 22 million tonnes at 0.93 g/t gold and 12.24 g/t silver for a total of 632,000 ounces of gold and 8.2M ounces of silver. The updated resource has an overall 60% increase in Measured & Indicated ounces of gold and silver as well as a 20% increase in average gold and silver grades.

Tables 2 and 3 below, present the tonnes and grades from the block model used for the Mineral Resource estimate at a range of cut-off grades in order to demonstrate the sensitivity of the estimates. The analysis indicates the robust nature of the overall resource and potential to optimize the grade and maximize margins

Table 2: Sensitivity of the Oxide Measured & Indicated Resource Estimate at Various Cut-off Grades

Table 3: Sensitivity of the Sulphide Measured & Indicated Resource Estimate at Various Cut-off Grades

The new mineral resource estimate was prepared by Todd McCracken, P. Geo. Todd is an employee of Tetra Tech and is independent of the Company, as defined by section 1.5 of NI 43-101 of Tetra Tech independent qualified person. The mineral resources were estimated using a block model with parent blocks of 30 ft x 30 ft x 30 ft and used multi-pass ordinary kriging method for grade estimation. The estimation passes required a minimum number of samples to be used and a maximum number of samples from any one borehole. The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category. The mineral resource estimate is based on the combination of geological modeling, geostatistics and conventional block modeling using the ordinary kriging method of grade interpolation. The geological model and corresponding sections and plans were generated by Gunpoint personnel and then audited by Tetra Tech. The QAQC protocols and corresponding sample preparation and shipment procedures for the Talapoosa Project have been reviewed by Tetra Tech.

Management believes the increased average grade and contained ounces in the resource estimate will positively impact the project economics. Gunpoint will engage Tetra Tech to undertake a Preliminary Economic Assessment which will evaluate Talapoosa being developed as a staged oxide heap-leach operation, followed by CIL and or Flotation processing of the unoxidized material.

The updated NI 43-101 technical report is being prepared by Tetra Tech and will be filed in the next 45 days.

Todd McCracken (P.Geo) of Tetra Tech is the Qualified Person as defined by National Instrument 43-101, and is responsible for the accuracy of the technical data and information contained in this news release.

Please visit the Company's website at http://www.gunpointexploration.com.