GX Guardian Exploration Inc

Guardian Exploration Inc. ("Guardian" or the "Company") (TSX VENTURE:GX) is
pleased to announce the placement of 19,488,000 units for gross proceeds of
$1,948,800 representing the second closing under its previously announced
brokered private placement bringing the total funds raised under the offering to
$2,648,800. As described in its March 3, 2011 release, each Unit consists 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.


Under the terms of an agency agreement with D&D Securities Inc., D&D and its
subagents received an aggregate cash commission of $127,666, equal to 7% of the
aggregate gross proceeds of the Offering raised by the Agent and Agent's
Warrants representing 10% of the aggregate number of Units sold. Each Agent's
Warrant entitles the holder to acquire one Unit at a price of $0.10 per Unit 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 and is subject to final TSX Venture Exchange
approval. Proceeds from the Offering will be used for exploration and
development expenditures on the recently acquired Montana Bakken lands and for
working capital purposes. 


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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