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Edgewater Provides Corcoesto Gold Project Feasibility Study Update

Edgewater Exploration Ltd. (EDW.V) today provided an update on several initiatives surrounding the Corcoesto Gold Project in Galicia, Spain. The company is pleased to provide an update on the on-going Bankable Feasibility Study which is on track for Q3/2013 completion.

Edgewater recently engaged Micon International Limited to complete an updated Resource Estimate and a final Bankable Feasibility Study for the Corcoesto Gold Project. Edgewater is scheduled to announce an updated Resource Estimate during Q2/2013 which will include data from more than 50,000m of infill drilling completed during the 2011 and 2012 drilling seasons. Edgewater's previous Resource Estimate used as the basis for the 2011 PEA included 325,000 ounces of gold in Measured and Indicated categories and 1,149 million ounces of gold Inferred.

Edgewater recently entered into an agreement with the Association of Excavators of Galicia (AEXGA) giving top preference on future mine development and operational contracts to Galician earth-moving companies for the Corcoesto Gold Project. The focus of this agreement is to prioritize and guarantee the creation of quality employment opportunities for the local communities surrounding the Project and the whole Galician region, Edgewater said.

Edgewater is at a yr low of 20 cents.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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