GX Guardian Exploration Inc

Guardian Exploration Inc. ("Guardian" or the "Company") (TSX VENTURE:GX) is
pleased to announce that it has purchased an additional 6,025 acres of
prospective Alberta Bakken lands in townships directly adjacent to the Blackfeet
Nation in Glacier and Pondera County, Montana. The acreage increases Guardian's
holdings in the area to approximately 9,000 acres in an area where Newfield
Exploration, Rosetta Resources and Anschutz Exploration have focused their
Alberta Bakken exploration efforts. The majority of Guardian's lands on the
Reservation are held by production from the Cut Bank formation, where the
company currently produces 35 barrels of oil per day. An operational update
provided by Newfield on February 15, 2011 stated; "To date, Newfield has drilled
five vertical wells, completed and placed on production a horizontal well, and
has a second horizontal well awaiting completion. All of the wells to date have
encountered oil..." From visits to the area, Guardian's Management believes that
the aforementioned completed well is the Sheriff 1-11H well that is only 7 miles
away from Guardian lands. A location even closer to Guardian lands has been
drilled by Arkanova Energy, who in January of this year released the finding
that their Tribal-Max 1-2817 well did in fact encounter the Bakken and Three
Forks zones. This well was drilled to a depth of 5,908 feet and is 2 miles
directly south of Guardian lands.


Using information provided by the Montana Board of Oil and Gas, a total of 16
wells have been spud in the past 18 months on the Blackfeet Reservation
targeting formations deeper than 4,000 feet, with another 12 wells permitted to
be drilled.


Graydon Kowal, President and Chief Executive Officer noted "Guardian has been
watching this play develop over the past several years and now has seen enough
evidence from the other operators in the area and our own geological review to
be confident that the Company's current exploration focus is in Montana
targeting the Alberta Bakken."


The Company is also pleased to announce that it has entered into an agreement
with D&D Securities Inc. of Toronto (the "Agent") to act as agent on a
"reasonable commercial efforts" basis for the placement of up to 15,000,000
Units of the Company at a price of $0.10 per Unit, each Unit consisting of one
common share ("Common Share") in the capital of the Company and one-half (1/2)
Common Share purchase warrant ("Warrant"), each whole Warrant being exercisable
for one (1) Common Share of the Company at a price of $0.25 per share (the
"Warrant Price") for a period of 18 months following closing, provided that if
after four months and one day following the Closing Date, the closing price of
the common shares of the Corporation on the principal market on which such
shares trade is equal to or exceeds $0.375 for 10 days (the "Eligible
Acceleration Date") the Warrant Expiry Date shall accelerate to the date which
is 30 calendar days following the date a formal notice is issued by the Company
announcing the reduced warrant term, provided such notice is sent to all warrant
holders no more than five business days following the Eligible Acceleration
Date.


The Agent will receive a cash commission equal to 7% of the aggregate gross
proceeds of the Offering. The Agent will also receive an Agent's Warrant
exercisable to purchase that number of Shares that is equal to 10% of the
aggregate number of Units sold. Each Agent's Warrant will entitle the holder to
acquire one Share at a price of $0.25 per Share for a period of 18 months from
the date of closing of the Offering.


The securities issued in the Offering will be subject to a hold period of four
months plus one day from closing.


The Offering is scheduled to close on or about March 30, 2011 and is subject to
applicable regulatory and TSX Venture Exchange approval and completion of
definitive documentation. Proceeds from the Offering will be used for
exploration and development expenditures on the above-noted Montana Bakken lands
and for working capital purposes.


The Units will be offered by way of private placement exemptions in the
provinces of Ontario, British Columbia and Alberta and such other jurisdictions
within and outside of Canada as may be agreed to between the Company and the
Agent. The Offering will not be available in the United States except under
applicable registration exemptions under the United States Securities Act of
1933.


The Company is also pleased to announce the appointment of Mr. Abbas Mahdi to
the board of directors of Guardian. Mr. Mahdi is a geologist with 13 years of
experience in production enhancement and optimizations with a large
international oil & gas service and engineering company. Mr. Mahdi specializes
in the areas of fracturing and completions of unconventional resources and has a
successful track record in strategic and operational management.


Mr. Kowal stated, "We are excited to add someone of Mr. Mahdi's experience to
the Guardian team. He is a vital component of Guardian's ongoing strategy of
unlocking the value of its conventional and unconventional oil & gas assets in
Montana."


The Company further announces that it has entered into a convertible promissory
note in the aggregate amount of $250,000 with a private company owned by the
President of Guardian Exploration Inc. The loan matures on June 30, 2011 and
will accrue interest at the rate of 15% per year, payable monthly and is secured
against the assets of the Company. In addition, the loan is convertible into
common shares of the Company at a deemed price of $0.07 per share. Final
completion of the loan is subject to TSX Venture Exchange ("TSXV") approval and
the loan conversion feature is subject to TSX Venture Exchange ("TSXV") approval
and disinterested shareholder approval.


The Company also announces, subject to the stock option plan, the grant of
1,400,000 stock options to certain directors, officers, employees and
consultants. The options vest over a 2 year period, are exercisable at a price
of $0.10 per share and expire in March 2016. The shares issuable upon exercise
of the options may not be traded for 4 months and one day from the date of
grant. The Company has also amended 500,000 options previously issued to
directors, officers, employees and consultants of the Company in May 2006 with
an original exercise price of $1.10 per share and 600,000 options issued in
October 2007 with an exercise price of $0.15 per share, by reducing the exercise
price of the options and extending the expiry date. By virtue of the amendment,
the previously issued options will have an expiry date of February 2016 and an
exercise price of $0.10 per share. The amendment is subject to disinterested
shareholder approval, to be sought at the next annual general meeting of the
shareholders of the Company, and the approval of the TSX Venture Exchange.


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".


Investors are cautioned that this news release contains forward looking
information. Such information is subject to known and unknown risks,
uncertainties and other factors that could influence actual results or events
and cause actual results or events to differ materially from those stated,
anticipated or implied in the forward-looking information. Readers are cautioned
not to place undue reliance on forward-looking information, as no assurances can
be given as to future results, levels of activity or achievements.

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