Guardian Exploration Inc. ("Guardian" or the "Company") (TSX VENTURE:GX), is
pleased to announce that it has completed the closing of the first tranche its
previously announced brokered private placement. The closing consisted of
600,000 Common Shares at a price of $0.30 per Common Share and 3,185,500 Flow
Through Shares at a price of $0.35 per Flow Through Share (the "Placement") for
gross proceeds of $1,294,925 ($1,172,526 net of agent's fees and expenses). The
funds are to be used to finance Guardian's ongoing oil & gas drilling program.


Due to increased demand, and upon agreement between Blackmont Capital Inc. (the
"Agent") and Guardian, the maximum offering under the brokered private placement
has been increased by $500,000 for a total raise of up to $3,500,000 on the same
terms, subject to regulatory approval.


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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