GX Guardian Exploration Inc

Guardian Exploration Inc. ("Guardian" or the "Corporation") (TSX VENTURE:GX)
announces that, subject to final TSX Venture Exchange approval, it has closed a
non-brokered private placement ("Private Placement") raising $1,082,192.96 by
issuing 3,381,853 Units at $0.32 per Unit. Each Unit consisted of one common
share and one share purchase warrant. Each share purchase warrant is exercisable
into one common share at a price of $0.35 for two years from the date of
closing.


In connection with its efforts on behalf of the Corporation pursuant to the
Private Placement, Blackmont Capital Inc. will receive a cash commission and
Agent's Warrants. Each Agent's Warrant is exercisable for a period of two years
from the date of closing into a Common Share at a price of $0.32.


The Units issued pursuant to the private placement are subject to a four month
hold period. The proceeds of the Private Placement will be used for exploration
expenditures and for working capital purposes.


In connection with the private placement, Graydon Kowal, Director and President
& CEO purchased the 3,381,853 Units and concurrently sold through the facilities
of the TSX Venture Exchange 3,381,853 Common Shares to clients of Blackmont
Capital Inc. from his personal holdings.


Guardian is a Calgary-based corporation engaged in the acquisition, exploration
and development of resource properties. Common shares of the company trade on
the TSX Venture Exchange under the trading symbol "GX".

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