The 2014 Pardo JV program is now concluded with all results returned. Results from Line 34, which provide an initial evaluation of the second paleoplacer on the Pardo JV, have been received and are very encouraging.

The results confirm anomalous gold and the potential for high-grade gold bearing layers. A series of 5 trenches oriented north to south were excavated to expose the Matinenda, as illustrated on the "November 2014 PR – Figure 1", which can be found on the Company’s website at www.ginguro.com. A total of 17 channels were systematically taken to evaluate the mineralized conglomerates.

Detailed maps of the trenches indicating channel locations can also be found on the Company website. Channel highlights include: channel 77 returning 53.6 g/t over 0.7 metres, channel 70 returning 1.2 g/t over 4 metres, channel 66 returning 1.1 g/t over 6 metres, as detailed on the "November 2014 PR – Figure 2", which can be found on the company’s website at www.ginguro.com.

President and CEO Richard Murphy stated, "The high-grade assay of 53.6 g/t over 0.7 metres received from Channel 77 is very encouraging and suggests this new paleoplacer is very prospective for identifying high grade strata in the Matinenda paleoplacer."

Due to the near flat lying nature of the sedimentary strata, it is not always possible to cut samples across the gold-bearing strata. Samples are usually collected either parallel or perpendicular to the interpreted paleochannel direction. Therefore, the channel lengths reported in this release represent the gold distribution over the surface area sampled and do not represent true thicknesses of the mineralized unit.

Drill holes PD-14-20 and 21 tested the eastern extension of the gold bearing conglomerates discovered at the Godzilla Zone intersected a 1.2 to 3 metre flat lying conglomerate package at depth from 4 to 36 metres. Visible gold was detected in PD-14-21 at a depth of 34.93 metres. The other core half was sent for assay and returned a value of 1.5 g/t gold over 0.2 metres.

Ginguro is the operator of the Pardo JV and holds a 64.5% ownership interest and Endurance Gold Corporation ("Endurance") owns a 35.5% ownership interest. Both Ginguro and Endurance are funding the 2014 Pardo JV program on a pro rata basis, based on ownership. As a result, it is anticipated that Ginguro’s ownership interest in the Pardo JV will be unchanged at the completion of the current program.