GX Guardian Exploration Inc

On August 2, 2012, Guardian Exploration Inc. ("Guardian" or "the Corporation")
(TSX VENTURE:GX) held an Annual General and Special Meeting (the "Meeting") at
which Meeting shareholders approved the sale of its Jenner leases to Deckland
Inc. The Jenner leases were acquired by Guardian in 2011 for $2,240,646 at an
Alberta Crown mineral sale. The Corporation had intended to raise sufficient
funds to develop the Jenner Leases into producing oil properties however, due to
the state of financial markets, the Corporation was unable to source sufficient
interest in executing a development partnership or sufficient investment to
develop the Jenner Leases. For working capital and debt retirement purposes, the
board of directors agreed to sell the Jenner Leases to Deckland Inc., a private
company wholly owned by Graydon Kowal, director and President of the
Corporation, which sale was approved by the shareholders at the Meeting.
Detailed information in regards to the sale can be found in the Management
Information Circular dated July 4, 2012. The circular can be found on SEDAR
along with all other corporate filings for the Corporation. No press release was
issued previously discussing the sale as the Information Circular was released
at that time and it contained all the pertinent information regarding the sale
and its terms.


The related party transaction was subject to MI 61-101 Protection Of Minority
Security Holders In Special Transactions which is incorporated by reference into
TSX Venture Exchange Policy 5.9, Protection of Minority security Holders in
Special Transactions which policy requires that the related party transaction be
subject to approval of a majority of the minority shareholders who vote at the
Meeting. Any shares held by Deckland Inc., Graydon Kowal, his associates and
joint actors were excluded from the calculation of shareholder approval, which
was received at the August 2 meeting. 


Guardian is in the process of closing the transaction with Deckland pending the
receipt of the full amount payable. Deckland has indicated to the Corporation
that it will pay the remaining portion in installments to be received prior to
year end. Upon receiving the full amount, $2,240,646, the assets will be
transferred to Deckland Inc. and a press release will be issued to report that
the sale has closed. As of August 31, 2012, $1,257,254 was remaining to be paid
by Deckland. 


The Corporation intends to use the proceeds from the sale for the following
purposes:




1.  Debt payment to Guardian Helicopters, a private company owned by Graydon
    Kowal; 
2.  Fulfill settlement agreement terms with ONRR (Office of Natural
    Resources Revenue) in drilling one well on a Blackfeet Tribal lease held
    by K2 America Corp, a wholly owned subsidiary of the Corporation; 
3.  Fulfillment of Guardian's flow through spending obligations before year
    end 2012; and 
4.  General 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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