May 10, 2010 (FinancialWire) — Guinness Exploration Inc. (OTCBB: GNXP) said that it has completed a second unit offering private placement that raised $500,000 to be used toward exploration of the firm’s Nantawa Project.

The financing comprised a 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 and one common share purchase warrant. 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 April 22, 2010 at a price per warrant share of $2.00.

Nevada-based 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. 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 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 theVillage of Carmacks.

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