Jan 24, 2013


Edgewater Receives Final In-Fill Drilling Results at Corcoesto, Spain Results include: 56.6m grading 1.38 g/t Au and 6.20m grading 8.18 g/t Au

Vancouver, British Columbia: Edgewater Exploration Ltd. ("Edgewater" or the "Company") is pleased to report it has now received final assay results from the in-fill diamond drilling program on the Company's 100% owned Corcoesto Gold Project, Galicia, Northwest Spain.

George Salamis, President and CEO stated: "Over the past twelve months we have consistently released results from the infill drilling program at Corcoesto that met or exceeded our expectations in terms of intersected widths and grades, with a number of gold zones returning longer widths and better grades than anticipated (see Edgewater press release March 29, 2012 which included 66.5 m grading 2.00 g/t Au). The In-fill drilling results continue to demonstrate excellent grade and continuity of the gold mineralization at Corcoesto and all 50,000 m of infill drilling will be included in an updated NI 43-101 Resource Estimate being prepared by Tetra Tech which is scheduled to be completed during Q1 this year. The Tetra Tech Feasibility Study for Corcoesto will be completed in early Q2/2013."

Highlights of recent drilling results are tabulated below and include: 56.60 m grading 1.38 g/t Au (DDH 12W271), 15.90 m grading 2.04 g/t Au (DDH 12W273) and 6.20 m grading 8.18 g/t Au (DDH 12W261).

Table 1 Highlight of Recent Corcoesto Drill Results
Drill Hole   From To Length Au
    m m (metres) g/t
12W271   106.90 163.50 56.60 1.38
12W261   113.20 119.40 6.20 8.18
12W261 incl 113.20 115.20 2.00 22.43
12W264   165.60 171.00 5.40 6.72
12W264 incl 167.90 170.00 2.10 12.86
12W273   105.70 110.00 4.30 7.73
12W273 incl 108.90 110.00 1.10 19.45
12W251   17.40 33.30 15.90 2.04
12W251 incl 31.30 32.30 1.00 19.80
12W267   201.60 215.40 13.80 2.29
12W267 incl 203.60 204.90 1.30 16.10
12W259   119.10 137.20 18.10 1.34
12W253   38.00 50.00 12.00 1.71
12W256   77.10 88.90 11.80 1.63
12W267   172.80 182.00 9.20 1.85
12W258   251.80 271.00 19.20 0.82
12W275   203.00 210.40 7.40 2.07
Notes:
  1. All reported intercepts are core lengths and true widths are estimated at 80 per cent of core lengths
  2. Weighted averages calculated using uncut assays.
  3. See Table attached for complete results.
Edgewater has now completed 278 drill holes at Corcoesto totaling 52,940 metres. This news release is reporting previously un-released results for holes 12W245 to 12W278 (34 holes -- 6124.16 metres).

Work continues by Tetra Tech on the NI43-101 compliant Feasibility Study on the Corcoesto Gold Project. Additional work on-going in support of the Feasibility Study includes detailed processing plant design, mine scheduling, metallurgical testing and geotechnical studies.

Sample preparation and analyses are conducted using industry standard practices. Samples are delivered to Chemex Lab in Seville, Spain and sample analyses completed at independent commercial facilities of ALS Romania for Au and ALS Canada (Vancouver) for As. Both labs have the certificate of ISO/IEC 17025:2005. Sampling and analyses include a rigorous Quality Assurance / Quality Control (QA/QC) program consisting of the insertion of blanks, duplicate samples, and check assays. Additional QA/QC includes re-assaying of random and selected samples at a second independent laboratory. A review of the QA/QC results shows no significant bias and all results are considered highly reliable.

Mr. Gregory Smith, P.Geo., Vice-President of Exploration of the Company, is the Qualified Person as defined by NI 43-101, and is responsible for the accuracy of the technical data and information contained in this news release.

About Edgewater Exploration Ltd.

Edgewater is a mineral development and exploration company focused on advancement and development of precious metal properties. Edgewater has an experienced mine building and operating team with a track record of success. The Company is currently developing the Corcoesto Gold Project in northwest Spain, and exploring the Enchi Gold Project in Ghana, West Africa.

On behalf of the board of EDGEWATER EXPLORATION LTD.

"George Salamis"
George Salamis, President and CEO

For further information, please contact:
Ryan King, Vice President rking@edgewaterx.com
Telephone: (604) 628-1012

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Previously Unreported Results from Recently Completed Drill Holes
Drill Hole   From To Length Au G*T
    m m (metres) g/t (g-m/t)
12W245   122.10 133.20 11.10 0.83 9.21
12W245   143.20 145.30 2.10 1.08 2.27
12W246   57.20 58.20 1.00 5.31 5.31
12W246   65.70 66.70 1.00 0.78 0.78
12W246   72.60 76.80 4.20 0.96 4.03
12W246   85.80 86.80 1.00 0.52 0.52
12W246   197.50 198.80 1.30 2.13 2.77
12W246   204.30 208.60 4.30 2.60 11.18
12W246   217.60 219.60 2.00 0.93 1.86
12W247   48.50 49.50 1.00 0.55 0.55
12W247   80.80 81.90 1.10 1.37 1.50
12W248   11.00 12.00 1.00 1.00 1.00
12W248   19.70 20.80 1.10 5.83 6.41
12W248   183.00 184.00 1.00 0.51 0.51
12W248   188.00 189.00 1.00 0.70 0.70
12W248   194.00 195.20 1.20 0.87 1.04
12W248   205.60 206.70 1.10 2.23 2.45
12W249   29.20 30.50 1.30 1.88 2.44
12W249   95.50 98.30 2.80 0.82 2.30
12W249   107.90 111.40 3.50 1.39 4.87
12W249   123.70 124.70 1.00 2.34 2.34
12W249   149.70 150.70 1.00 3.92 3.92
12W250   2.00 4.45 2.45 0.62 1.52
12W250   54.50 55.50 1.00 1.05 1.05
12W250   111.30 118.80 7.50 0.58 4.35
12W250   126.80 130.80 4.00 0.45 1.80
12W250   146.70 147.70 1.00 5.77 5.77
12W250   204.00 222.50 18.50 0.50 9.25
12W250   242.00 244.40 2.40 4.79 11.50
12W251   8.75 11.10 2.35 5.08 11.94
12W251   17.40 33.30 15.90 2.04 32.44
12W251 incl 31.30 32.30 1.00 19.80 19.80
12W251   43.70 45.10 1.40 0.51 0.71
12W252   70.70 73.70 3.00 1.31 3.93
12W252   109.00 110.70 1.70 0.48 0.82
12W252   120.00 124.00 4.00 2.16 8.64
12W253   5.60 8.85 3.25 3.37 10.95
12W253   38.00 50.00 12.00 1.71 20.52
12W253   59.00 61.10 2.10 2.56 5.38
12W254   53.30 55.50 2.20 0.80 1.76
12W254   120.20 122.30 2.10 1.76 3.70
12W254   141.50 149.20 7.70 0.84 6.47
12W255   17.20 18.20 1.00 1.75 1.75
12W255   52.90 53.90 1.00 3.12 3.12
12W255   96.90 99.10 2.20 3.97 8.73
12W255   208.10 209.20 1.10 0.60 0.66
12W255   227.80 231.00 3.20 1.69 5.41
12W256   40.20 41.40 1.20 1.77 2.12
12W256   48.20 69.00 20.80 0.51 10.61
12W256 incl 50.50 52.70 2.20 1.40 3.08
12W256   77.10 88.90 11.80 1.63 19.23
12W257   3.80 5.10 1.30 0.74 0.96
12W257   14.60 15.60 1.00 0.76 0.76
12W257   117.60 118.60 1.00 2.15 2.15
12W257   151.50 158.50 7.00 0.47 3.29
12W258   18.00 19.05 1.05 1.62 1.70
12W258   30.70 33.30 2.60 4.18 10.87
12W258 incl 32.30 33.30 1.00 10.18 10.18
12W258   93.20 94.20 1.00 0.69 0.69
12W258   164.10 165.10 1.00 2.19 2.19
12W258   169.10 172.40 3.30 2.23 7.36
12W258   251.80 271.00 19.20 0.82 15.74
12W258   284.10 287.15 3.05 3.06 9.33
12W259   22.50 25.90 3.40 1.26 4.28
12W259   119.10 137.20 18.10 1.34 24.25
12W259   144.80 153.80 9.00 0.76 6.84
12W260   36.90 37.90 1.00 0.56 0.56
12W261   55.70 56.70 1.00 5.27 5.27
12W261   79.90 80.90 1.00 0.76 0.76
12W261   113.20 119.40 6.20 8.18 50.72
12W261 incl 113.20 115.20 2.00 22.43 44.86
12W261   140.30 141.30 1.00 3.68 3.68
12W261   146.50 147.60 1.10 0.85 0.93
12W261   164.60 166.00 1.40 0.82 1.15
12W261   178.80 179.80 1.00 1.22 1.22
12W262   49.00 50.00 1.00 2.73 2.73
12W263   7.80 8.80 1.00 0.53 0.53
12W263   21.60 27.90 6.30 1.02 6.43
12W264   49.90 58.70 8.80 1.38 12.14
12W264   68.60 74.60 6.00 0.64 3.84
12W264   114.60 119.20 4.60 1.24 5.70
12W264   149.80 153.80 4.00 1.40 5.60
12W264   165.60 171.00 5.40 6.72 36.29
12W264 incl 167.90 170.00 2.10 12.86 27.01
12W265   90.40 91.40 1.00 4.93 4.93
12W265   120.70 122.70 2.00 1.66 3.32
12W266   32.90 33.90 1.00 1.37 1.37
12W267   22.60 37.40 14.80 0.54 7.99
12W267   135.10 142.60 7.50 1.34 10.05
12W267   154.90 155.90 1.00 1.67 1.67
12W267   172.80 182.00 9.20 1.85 17.02
12W267   187.90 188.90 1.00 1.81 1.81
12W267   201.60 215.40 13.80 2.29 31.60
12W267 incl 203.60 204.90 1.30 16.10 20.93
12W268   18.00 20.20 2.20 1.42 3.12
12W269   55.10 56.10 1.00 1.01 1.01
12W269   65.30 66.30 1.00 1.61 1.61
12W269   88.50 89.70 1.20 9.94 11.93
12W269   99.90 100.90 1.00 1.02 1.02
12W270   32.80 33.80 1.00 4.65 4.65
12W270   97.45 99.85 2.40 0.77 1.85
12W271   44.90 45.90 1.00 0.57 0.57
12W271   74.50 78.80 4.30 0.77 3.31
12W271   106.90 163.50 56.60 1.38 78.11
12W272   14.85 20.20 5.35 0.53 2.84
12W272   48.70 49.80 1.10 0.91 1.00
12W273   4.95 6.65 1.70 1.32 2.24
12W273   70.10 71.10 1.00 0.65 0.65
12W273   75.10 76.10 1.00 0.94 0.94
12W273   105.70 110.00 4.30 7.73 33.24
12W273 incl 108.90 110.00 1.10 19.45 21.39
12W274   16.00 17.00 1.00 11.25 11.25
12W274   39.00 40.00 1.00 0.61 0.61
12W274   64.40 65.40 1.00 1.00 1.00
12W274   108.50 109.50 1.00 2.75 2.75
12W274   122.00 123.00 1.00 0.88 0.88
12W274   150.60 151.90 1.30 0.51 0.66
12W275   72.30 74.30 2.00 1.21 2.42
12W275   81.30 82.30 1.00 2.11 2.11
12W275   94.60 95.60 1.00 1.49 1.49
12W275   105.40 110.00 4.60 0.50 2.30
12W275   173.60 175.60 2.00 1.28 2.56
12W275   185.10 186.10 1.00 0.72 0.72
12W275   203.00 210.40 7.40 2.07 15.32
12W275   224.40 225.40 1.00 2.34 2.34
12W275   227.90 228.90 1.00 2.98 2.98
12W275   235.50 253.50 18.00 0.85 15.30
12W277   72.90 73.90 1.00 1.19 1.19
12W277   91.10 100.50 9.40 1.46 13.72
12W277   130.90 131.90 1.00 0.53 0.53
12W278   24.00 25.25 1.25 0.91 1.14
12W278   30.45 33.45 3.00 1.07 3.21
12W278   68.30 69.60 1.30 1.32 1.72
12W278   102.50 106.60 4.10 1.89 7.75
 
 

You can view the Next News Releases item: Mon Mar 11, 2013, Edgewater Exploration Engages Micon International, Golder Associates And KD Engineering To Complete Feasibility Study At The Corcoesto Gold Project, Galicia, Spain

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