Guinness Exploration Successfully Raises U.S. $500,000 Additional Funding for Nantawa Project

WELLINGTON, New Zealand, May 7 /PRNewswire-FirstCall/ -- Guinness Exploration Inc. ('Guinness') (OTC Bulletin Board: GNXP) announced today it has completed a second unit offering private placement which raised U.S. $500,000 to be used toward exploration of the Nantawa Project.

Guinness President and CEO Alastair Brown commented, "As evidenced by this second successful private placement, the Nantawa Project is gaining momentum and drawing good interest from investors. We're looking forward to our summer drilling program and our contractors and logistical support are on track. Weather permitting, our target continues to be start-up of camp operations within the next couple of weeks."

This financing raised aggregate proceeds of US$500,000 and was comprised a unit ('Unit') sale by Guinness of 625,000 Units priced at U.S.$0.80 per Unit for one share of common stock in the capital of Guinness (each, a "Share"); and one common share purchase warrant (each a "Warrant") subject to adjustment. Each whole Warrant is non-transferable and entitles the holder to purchase one common share of Guinness (each, a "Warrant Share"), as presently constituted, for a period of twenty four months beginning April 22, 2010 at a price per Warrant Share of U.S.$2.00. These Units are being issued pursuant to Regulation S of the Securities Act of 1933, as amended ("Regulation S") and Guinness did not engage in any general solicitation or advertising regarding this Unit offering.

About Guinness Exploration

Guinness Exploration Inc. trades on the OTC-BB under the symbol GNXP. The Company was incorporated in Nevada in 2006 and incorporated its subsidiary Nantawa Resources Inc. in Yukon, Canada in 2009. In November, 2009 Guinness entered an agreement to acquire mineral claims for the Mount Nansen and the Tawa gold and silver exploration properties (collectively the 'Nantawa Project') in the Yukon and is now developing an exploration program. The Nantawa Project is situated in the prolific Tintina Gold Belt, a 1,200 km long area extending from northern British Columbia, through the Yukon Territory and into southwest Alaska. The Tintina Gold Belt includes such world-class, multi-million ounce gold deposits as Pogo, Fort Knox, True North, and Donlin Creek. The Nantawa Project claims consist of 203 full or fractional claims with a total area of 3,136.43 square hectares located in the South Central part of the Yukon, 180 km Northwest of Whitehorse and 60 km west of the Village of Carmacks. A complete independent geological report received by Guinness, dated November 27, 2009, can be viewed on Guinness' website: www.guinnessexploration.com.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. In this press release, the expressions: "...which raised U.S. $500,000 to be used toward exploration of the Nantawa Project.", and "As evidenced by this second successful private placement, the Nantawa Project is gaining momentum and drawing good interest from investors. We're looking forward to our summer drilling program and our contractors and logistical support are on track. Weather permitting, our target continues to be start-up of camp operations within the next couple of weeks." are forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to mining operations, changes in the worldwide price of gold, silver, or certain other commodities; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; employee relations; contests over title to properties; and the risks involved in the exploration, development and mining business. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Guinness Exploration Inc.