SUDBURY, ONTARIO – January 20, 2009 – Ginguro Exploration Inc. (TSX V:GEG)
("Ginguro" or the "Company"), is pleased to report gold assay results from a Phase I diamond
drill program on its Minnitaki Gold Project, located 12 km south of the town of Sioux Lookout,
Ontario. Reconnaissance drilling encountered multiple, broadly spaced, significant gold intercepts
over a 1.45 km strike length, demonstrating the extensive alteration and anomalous gold
mineralized envelope associated with splays off of the east-northeast trending Rudy Island
Deformation Zone (Neepawa Structural Corridor). Highlights include intercepts of 5.88 grams
per tonne gold (g/t Au) over 2.09 metres (m) and 4.30 g/t Au over 6.05 m in drillhole MN-01;
1.09 g/t Au over 10.2 m, 3.32 g/t Au over 3.6 m, and 1.66 g/t Au over 16.13 m in drillhole MN-
05; and 8.12 g/t Au over 1.86 m in drillhole MN-06.
A helicopter supported diamond drill program was completed on July 5, 2008. The 12 drill hole
(3,033 m) reconnaissance program tested targets as defined by the Company’s 2007
stripping/trenching program along a 1.65 km strike length of the Neepawa Structural Corridor.
Widely spaced boreholes, (92 m to 308 m in length) tested the depth extension of known
mineralized showings and geophysical anomalies (Induced Polarization) believed to be related to
the Neepawa Structural Corridor. Significant gold intersections are presented in Table 1 and
technical details for holes are provided in Table 2.
Two styles of gold mineralization have been identified: shear zones up to 25 metres wide, hosting
quartz veins ranging from small stringers to veins 20 cm in width and up to tens of metres in
strike length; and extensive areas of tensional style quartz veining with associated pervasive
hydrothermal alteration. Drilling has established the extensive nature of gold mineralization
along the Neepawa Structural Corridor as 9 of the 12 drill holes have yielded significant gold
intercepts ranging from 0.27 m to 16.3 m in core length. These broadly spaced intercepts permit
the tracing of shear and tensional quartz vein zone hosted gold mineralization over a 1.45 km
strike length and from 2 m to 230 m in vertical depth.
Hole MN-01, collared at the western end of Neepawa Island, tested the depth extension of the
Point Showing, a 19 m wide shear zone that returned up to 4.9 g/t Au over 2.7 m during the 2007
stripping/trenching program (see January 28, 2008, news release). This borehole cut an extensive
zone of deformation and hydrothermal alteration hosting 5 significant gold intercepts over
approximately 127 m of core length, starting at a down hole depth of 54.08 m. Mineralization
consists of quartz vein hosting shear zones cutting iron carbonate altered and pyritized mafic
volcanic rocks. The lowermost intercept of 4.30 g/t Au over 6.05 m, including 11.65 g/t Au over
0.83 m, starting at a down hole depth of 175.17 (135 m vertical) is believed to represent the depth
extension of the surface showing.
Hole MN-05 (269 m), collared approximately 750 m east of the Point Showing, intersected three
mineralized quartz vein zones associated with shear or fault structures in strongly iron carbonate
altered volcaniclastic rocks. The zones returned intercepts of 1.09 g/t Au over 10.2 m, 3.32 g/t
Au over 3.6 m, and 1.66 g/t Au over 16.13 m starting from down hole depths of 87.73 m, 122.88
m, and 230.57 m, respectively. Hole MN-06, collared approximately 200 m to the southeast of
MN-05, intersected a silicified and finely pyritized, amygdaloidal basalt unit assaying 8.12 g/t Au
over 1.86 m. This unit may represent a possible host for stratabound gold mineralization.
Results to date have been very encouraging, and the Company is currently reviewing all data
prior to defining its future exploration strategies.
