February 11, 2010 (FinancialWire) — Guinness Exploration Inc. (OTCBB: GNXP) said it has closed a private placement to raise $1.5 million, which it said was sufficient capital for fund the first stage of its Nantawa Project.

This financing was comprised of a unit sale by Guinness of 1.875 million units priced at $0.80 per unit. Each unit was comprised of one share of common stock in the capital of Guinness and one common share purchase warrant subject to adjustment.

Each whole warrant is non-transferable and entitles the holder to purchase one common share of Guinness for a period of twenty four months beginning February 10, 2010 at a price per warrant share of U.S.$2.00.

Guinness Exploration 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 in the Yukon and is now developing an exploration program.

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