GX Guardian Exploration Inc

Guardian Exploration Inc. (TSX VENTURE:GX) ("Guardian" or the "Company") is
pleased to announce the closing of their previously announced offering of units
of the Company. The Company issued 8,250,000 units at a purchase price of $0.10
per unit for gross proceeds of $825,000, each unit consisting of one common
share of the Company to be issued on a "flow through" tax basis and one purchase
warrant, each whole warrant exercisable into one Common Share upon payment of
$0.15 per share for a period of 24 months from the date of issuance. 4,000,000
of the units were purchased by directors and officers of the Company. The
Company paid a finders' fee to eligible persons in the aggregate amount of 7% of
the proceeds of the Offering raised by such persons ($22,750) and 7% of the
number of securities placed by such persons in finders warrants (227,500
warrants). Each finders warrant is exercisable into one Common Share upon
payment of $0.10 per share for a period of one year from the date of issuance. 


The securities issued in the Offering will be subject to a hold period of four
months plus one day from closing. Proceeds from the Offering will be used for
exploration and development expenditures on "flow through" eligible Canadian
projects. 


Guardian is a Calgary-based corporation engaged in the acquisition, exploration
and development of resource properties in Montana and Alberta. 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.


This news release shall not constitute an offer to sell or the solicitation of
any offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful. The
securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or applicable exemption from the registration
requirements of the U.S. Securities Act and applicable state securities laws.

Guardian Exploration (TSXV:GX)
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