Edgewater Announces Additional In-Fill Drill Intercepts including 66.5 metres grading 2.00 g/t Gold for the Corcoesto Gold Project, Spain

Vancouver, British Columbia: Edgewater Exploration Ltd. ("Edgewater" or the "Company") is pleased to report addition drill results from the on-going in-fill diamond drilling program on the Company's 100% owned Corcoesto Gold Project, Galicia, Northwest Spain.

Edgewater now has 4 diamond drill rigs conducting a program of infill drilling on the Corcoesto Gold Project. Drilling continues to intersect excellent widths and grades of gold mineralization including DDH12W96 that returned 66.5 metres grading 2.00 g/t Au and DDH12W86 with 119.8 metres grading 0.73 g/t Au.

George Salamis, President and CEO of Edgewater stated: "The infill drilling program at Corcoesto continues to confirm good continuity and excellent widths in some cases surpassing expectations in grades and widths encountered. The current phase of drilling will culminate in the tabling of an updated resource estimate during Q3/12 which will form an integral part of the ongoing definitive feasibility study being completed by Tetra Tech. In conjunction with our project finance advisor, we are finalizing discussions with several financial institutions for the initial project development capital. The capital requirement will be based on the completion of the feasibility study later this year."

Notes:

1. All reported intercepts are core lengths and true widths are estimated at 80 per cent of core lengths
2. Weighted averages calculated using uncut assays.
3. See Table attached for complete results.

Edgewater has now completed 118 drill holes totaling 27,019.25 metres. This news release is reporting results for an additional 39 holes (8,114.1 metres).

On March 7th, 2012 Edgewater announced that Tetra Tech had been engaged to complete a NI43-101 compliant Feasibility Study on the Corcoesto Gold Project.

Sample preparation and analyses are conducted using industry standard practices. Samples are delivered to Chemex Lab in Seville, Spain and sample analyses completed at independent commercial facilities of ALS Romania for Au and ALS Canada (Vancouver) for As. Both labs have the certificate of ISO/IEC 17025:2005. Sampling and analyses include a rigorous Quality Assurance / Quality Control (QA/QC) program consisting of the insertion of blanks, duplicate samples, and check assays. A review of the QA/QC results shows no significant bias and all results are considered highly reliable.

Mr. Gregory Smith, P.Geo., Vice-President of Exploration of the Company, is the Qualified Person as defined by NI 43-101, and is responsible for the accuracy of the technical data and information contained in this news release.

About Edgewater Exploration Ltd.

Edgewater is a mineral development and exploration company focused on advancement and development of precious metal properties. Edgewater has an experienced mine building and operating team with a track record of success. The Company is currently developing the Corcoesto Gold Project in northwest Spain, and exploring the Enchi Gold Project in Ghana, West Africa.

On behalf of the board of EDGEWATER EXPLORATION LTD.

"George Salamis"
George Salamis, President and CEO

For further information, please contact:
Ryan King, Vice President rking@edgewaterx.com
Telephone: (604) 628-1012

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Drill Hole		From	To	Length	Au	As	Rec	G*T
				( Meters)	g/t	%	%	(g-m/t)
11W63		142.10	143.30	1.20	0.75	0.36	100.00	0.90
11W63		177.70	186.70	9.00	1.45	0.67	100.00	13.05
11W63	incl	184.70	186.70	2.00	4.32	1.36	100.00	8.64
11W63		200.80	202.80	2.00	5.52	0.56	100.00	11.04
11W63	incl	200.80	201.80	1.00	8.24	0.56	100.00	8.24
11W63		233.00	239.30	6.30	2.17	0.56	100.00	13.67
11W63	incl	233.00	235.00	2.00	2.14	0.41	100.00	4.28
11W63	and	238.30	239.30	1.00	6.92	0.98	100.00	6.92
11W63		246.60	254.10	7.50	1.37	0.61	100.00	10.28
11W64		23.00	24.00	1.00	0.51	0.16	50.00	0.51
11W64		30.65	34.75	4.10	0.80	0.38	96.97	3.28
11W65		15.30	16.50	1.20	1.41	0.89	87.50	1.69
11W65		25.90	26.90	1.00	0.51	0.34	100.00	0.51
11W65		32.90	33.90	1.00	0.65	0.32	100.00	0.65
11W65		107.10	108.50	1.40	0.60	2.44	100.00	0.84
11W65		129.40	133.80	4.40	1.38	0.61	100.00	6.07
11W65		189.90	192.00	2.10	0.81	0.36	100.00	1.70
11W65		249.60	258.50	8.90	1.51	0.76	100.00	13.44
11W65	incl	249.60	252.80	3.20	3.47	1.36	100.00	11.10
11W66		49.60	50.60	1.00	2.75	0.36	100.00	2.75
11W67		33.70	42.30	8.60	0.93	0.18	100.00	8.00
11W67	incl	39.30	40.30	1.00	3.35	0.39	100.00	3.35
11W67		121.00	122.00	1.00	0.53	0.47	100.00	0.53
11W67		183.00	184.00	1.00	0.62	0.21	100.00	0.62
11W67		291.90	297.10	5.20	1.32	0.39	100.00	6.86
11W67		341.40	343.40	2.00	0.54	0.66	100.00	1.08
11W67		351.00	352.25	1.25	1.90	0.39	100.00	2.38
11W67		367.10	369.00	1.90	1.50	1.68	100.00	2.85
11W67		387.20	398.40	11.20	0.77	0.66	100.00	8.62
11W67	incl	394.30	395.30	1.00	3.88	2.09	100.00	3.88
11W67		442.70	443.70	1.00	1.53	0.76	100.00	1.53
11W67		449.20	450.20	1.00	0.96	0.31	100.00	0.96
11W67		466.60	476.00	9.40	1.47	0.28	100.00	13.82
11W67	incl	475.00	476.00	1.00	5.31	0.68	100.00	5.31
11W67		500.00	501.00	1.00	1.82	0.52	100.00	1.82
11W68		26.90	29.10	2.20	4.56	0.27	71.67	10.03
11W68	incl	26.90	28.10	1.20	7.37	0.20	58.33	8.84
11W69		131.30	132.30	1.00	1.04	0.76	100.00	1.04
11W69		163.10	168.20	5.10	0.64	0.99	100.00	3.26
11W69	incl	167.10	168.20	1.10	1.65	0.72	100.00	1.81
11W69		195.50	203.55	8.05	2.64	0.50	100.00	21.25
11W69	incl	202.50	203.55	1.05	17.18	0.92	100.00	18.04
11W69		250.80	251.80	1.00	0.53	0.16	100.00	0.53
11W69		255.60	258.75	3.15	0.92	0.34	100.00	2.90
11W69	incl	257.75	258.75	1.00	2.09	0.44	100.00	2.09
11W69		279.10	283.10	4.00	3.21	0.97	100.00	12.84
11W69	incl	282.10	283.10	1.00	10.58	1.95	100.00	10.58
11W70		25.10	26.10	1.00	1.21	0.22	100.00	1.21
11W70		71.50	78.30	6.80	1.80	0.79	100.00	12.24
11W70	incl	74.70	76.20	1.50	4.92	2.15	100.00	7.38
11W70		120.40	121.40	1.00	0.52	0.14	100.00	0.52
11W70		129.00	130.00	1.00	0.51	0.09	100.00	0.51
11W71		39.60	40.80	1.20	1.58	0.92	100.00	1.90
11W71		133.20	134.60	1.40	1.25	0.00	100.00	1.75
11W71		142.60	144.60	2.00	0.67	0.01	100.00	1.34
11W71		310.90	311.90	1.00	0.52	0.58	100.00	0.52
11W71		323.90	334.90	11.00	0.52	0.40	100.00	5.72
11W71	incl	323.90	326.40	2.50	1.17	0.45	100.00	2.93
11W71		345.70	355.20	9.50	1.88	0.53	99.05	17.86
11W71	incl	352.20	353.60	1.40	7.05	1.14	100.00	9.87
11W71		401.30	402.30	1.00	2.56	0.59	100.00	2.56
11W71		448.40	462.20	13.80	2.00	0.63	100.00	27.60
11W71	incl	451.90	453.20	1.30	8.43	2.01	100.00	10.96
11W71	and	454.20	455.20	1.00	8.30	1.55	100.00	8.30
11W72		20.40	21.40	1.00	0.62	0.93	100.00	0.62
11W72		25.90	27.10	1.20	2.18	0.40	91.67	2.62
11W72		39.90	45.50	5.60	1.13	0.70	80.63	6.33
11W72	incl	39.90	40.90	1.00	4.38	2.05	95.00	4.38
12W73		9.60	22.05	12.45	0.52	0.21	99.55	6.47
12W73		27.50	32.00	4.50	1.10	0.33	100.00	4.95
12W73	incl	27.50	28.70	1.20	3.15	0.08	100.00	3.78
12W73		45.50	51.00	5.50	0.58	0.08	100.00	3.19
12W73		77.20	85.20	8.00	2.61	0.67	97.50	20.88
12W73	incl	84.20	85.20	1.00	13.75	4.32	100.00	13.75
12W73		93.65	95.65	2.00	1.30	0.18	100.00	2.60
12W73		149.00	150.15	1.15	1.21	0.09	100.00	1.39
11W74		14.30	15.30	1.00	4.75	1.73	70.00	4.75
12W75		17.90	19.30	1.40	0.50	0.12	100.00	0.70
12W75		150.00	151.00	1.00	2.52	0.93	100.00	2.52
12W75		170.00	171.00	1.00	0.96	1.28	100.00	0.96
12W75		199.00	202.40	3.40	4.73	0.81	100.00	16.08
12W75	incl	199.00	200.00	1.00	4.51	1.00	100.00	4.51
12W75	and	201.30	202.40	1.10	10.06	1.05	100.00	11.07
12W75		222.30	223.30	1.00	1.59	0.54	100.00	1.59
12W75		232.30	233.30	1.00	1.48	0.36	100.00	1.48
12W75		237.80	238.80	1.00	0.78	0.25	100.00	0.78
12W75		248.50	252.70	4.20	0.83	0.20	100.00	3.49
12W75		261.60	262.60	1.00	3.95	0.29	100.00	3.95
12W75		282.10	285.10	3.00	1.64	0.80	100.00	4.92
12W75		303.50	304.60	1.10	2.61	1.06	100.00	2.87
12W76		24.45	25.70	1.25	1.44	0.35	52.00	1.80
12W76		49.50	50.50	1.00	0.72	0.32	100.00	0.72
12W77		51.20	53.20	2.00	3.32	0.23	100.00	6.64
12W77		58.30	73.10	14.80	0.81	0.34	100.00	11.99
12W77	incl	63.50	67.10	3.60	1.98	0.59	100.00	7.13
12W77		111.10	113.20	2.10	0.62	0.40	100.00	1.30
12W78		22.80	23.80	1.00	0.61	0.27	100.00	0.61
12W78		65.60	66.60	1.00	8.16	1.21	100.00	8.16
12W78		85.70	90.40	4.70	0.74	0.21	98.00	3.48
12W78	incl	85.70	89.20	3.50	2.32	0.32	100.00	8.12
12W78		97.00	98.00	1.00	0.72	0.31	100.00	0.72
12W79		132.30	136.30	4.00	3.44	0.60	100.00	13.76
12W79	incl	133.30	134.30	1.00	9.75	0.92	100.00	9.75
12W79		145.00	146.00	1.00	1.19	0.27	100.00	1.19
12W79		172.20	205.70	33.50	1.91	0.83	98.38	64.32
12W79	incl	184.30	194.00	9.70	4.26	1.34	100.00	41.32
12W79	incl	184.30	185.30	1.00	11.75	2.91	100.00	11.75
12W79	and	193.00	194.00	1.00	10.60	1.65	100.00	10.95
12W79	and	203.70	204.70	1.00	12.00	2.11	100.00	12.00
12W79		227.50	232.50	5.00	0.48	0.28	100.00	2.40
12W80		17.80	18.90	1.10	1.38	0.70	90.91	1.52
12W81		12.40	13.90	1.50	1.40	0.17	0.80	2.10
12W81		26.80	27.80	1.00	0.57	0.25	100.00	0.57
12W81		31.80	32.80	1.00	1.24	0.40	100.00	1.24
12W81		38.80	39.80	1.00	0.80	0.52	100.00	0.80
12W81		41.80	42.80	1.00	0.56	0.11	100.00	0.56
12W81		96.30	98.30	2.00	0.66	0.70	100.00	1.32
12W81		161.20	168.80	7.60	0.92	0.88	100.00	6.99
12W81		180.50	181.50	1.00	1.50	0.23	100.00	1.50
12W81		199.30	202.40	3.10	1.31	0.22	100.00	4.06
12W81		244.00	245.00	1.00	2.71	0.43	100.00	2.71
12W81		288.40	293.80	5.40	1.47	0.65	100.00	7.94
12W81	incl	288.40	289.50	1.10	3.60	0.79	100.00	3.96
12W81		300.50	301.70	1.20	1.07	0.76	100.00	1.28
12W81		322.30	323.30	1.00	2.43	1.07	100.00	2.43
12W82		39.00	42.00	3.00	2.31	0.07	100.00	6.93
12W82	incl	39.00	40.50	1.50	3.85	0.06	100.00	5.78
12W82		64.00	66.20	2.20	1.79	0.48	100.00	3.94
12W82		72.00	73.00	1.00	0.58	0.21	100.00	0.58
12W83		4.60	17.10	12.50	1.25	0.09	99.20	15.63
12W83	incl	4.60	5.60	1.00	2.06	0.12	100.00	2.06
12W83	and	12.10	13.10	1.00	3.67	0.12	100.00	3.67
12W83		40.50	41.50	1.00	2.42	0.25	100.00	2.42
12W83		68.50	72.00	3.50	2.24	0.21	100.00	7.84
12W84		44.00	53.50	9.50	1.00	0.97	100.00	9.50
12W84	incl	44.00	45.00	1.00	4.55	1.74	100.00	4.55
12W84		62.50	74.50	12.00	0.88	0.37	100.00	10.56
12W84	incl	72.50	73.50	1.00	6.52	0.51	100.00	6.52
12W84		80.50	81.50	1.00	0.58	0.31	100.00	0.58
12W84		93.00	98.50	5.50	1.08	0.36	100.00	5.94
12W84	incl	94.00	97.00	3.00	1.42	0.40	100.00	4.26
12W84		107.80	108.80	1.00	0.62	0.16	100.00	0.62
12W84		114.50	115.50	1.00	2.95	0.41	100.00	2.95
12W84		119.50	123.50	4.00	0.83	0.16	100.00	3.32
12W84		130.40	140.00	9.60	1.41	0.37	100.00	13.54
12W84	incl	131.40	132.50	1.10	4.57	0.85	100.00	5.03
12W84	and	137.90	140.00	2.10	3.06	0.70	100.00	6.43
12W84		151.00	152.00	1.00	0.82	0.39	100.00	0.82
12W84		166.30	169.40	3.10	2.83	0.26	100.00	8.77
12W84	incl	167.40	168.40	1.00	7.47	0.47	100.00	7.47
12W84		199.40	203.50	4.10	0.79	0.31	100.00	3.24
12W84		222.50	228.60	6.10	2.85	1.23	100.00	17.39
12W84	incl	222.50	223.50	1.00	8.97	1.88	100.00	8.97
12W84	and	227.20	228.60	1.40	5.65	3.93	100.00	7.91
12W85		11.60	13.10	1.50	0.81	0.38	31.33	1.22
12W85		63.40	64.40	1.00	0.88	0.72	100.00	0.88
12W85		83.90	84.90	1.00	0.67	0.98	100.00	0.67
12W85		101.00	109.05	8.05	1.19	0.68	99.29	9.58
12W85		160.10	161.10	1.00	4.02	0.83	100.00	4.02
12W85		182.35	184.35	2.00	0.75	0.43	100.00	1.50
12W85		191.50	192.60	1.10	0.54	0.94	100.00	0.59
12W86		3.40	4.90	1.50	0.54	0.54	30.00	0.81
12W86		46.30	52.00	5.70	0.79	0.31	98.53	4.50
12W86		134.10	151.20	17.10	0.55	0.14	100.00	9.41
12W86	incl	143.20	144.20	1.00	2.71	0.20	100.00	2.71
12W86		179.30	180.30	1.00	0.85	0.99	100.00	0.85
12W86		246.00	261.15	15.15	1.04	0.26	100.00	15.76
12W86		266.60	386.40	119.80	0.73	0.27	100.00	87.45
12W86	incl	266.60	267.60	1.00	3.01	0.59	100.00	3.01
12W86	and	286.60	287.60	1.00	4.25	0.62	100.00	4.25
12W86	and	304.50	305.50	1.00	3.14	0.66	100.00	3.14
12W86		395.20	397.20	2.00	0.89	1.98	100.00	1.78
12W87		50.35	51.35	1.00	1.12	0.68	100.00	1.12
12W87		62.00	63.00	1.00	0.94	0.46	100.00	0.94
12W88		9.10	10.60	1.50	1.27	0.48	26.67	1.91
12W88		37.70	39.70	2.00	1.08	0.18	100.00	2.16
12W88		50.30	52.30	2.00	0.50	0.08	100.00	1.00
12W88		90.60	96.40	5.80	0.74	0.19	100.00	4.29
12W88		102.10	104.10	2.00	1.04	0.11	100.00	2.08
12W88		110.00	112.20	2.20	1.26	0.51	100.00	2.77
12W88		171.80	175.80	4.00	1.01	0.66	100.00	4.04
12W88		213.00	220.00	7.00	2.43	0.75	100.00	17.01
12W88	incl	213.00	214.00	1.00	14.50	1.09	10.00	14.50
12W89		58.00	64.00	6.00	0.68	0.45	100.00	4.08
12W89		83.00	84.00	1.00	2.92	1.61	85.00	2.92
12W89		106.60	107.60	1.00	1.22	0.45	100.00	1.22
12W89		127.00	129.00	2.00	0.69	0.56	100.00	1.38
12W90		26.00	27.60	1.60	4.06	0.18	87.50	6.50
12W90		58.50	60.50	2.00	10.25	0.02	100.00	20.50
12W90		67.55	69.55	2.00	2.17	0.58	100.00	4.34
12W90		79.85	81.05	1.20	7.11	0.69	100.00	8.53
12W91		80.50	81.80	1.30	1.55	0.29	100.00	2.02
12W91		94.40	104.40	10.00	0.58	0.27	100.00	5.80
12W91		191.20	195.90	4.70	1.32	0.99	100.00	6.20
12W91		211.90	214.90	3.00	1.49	0.42	100.00	4.47
12W91		219.90	229.90	10.00	1.00	0.26	100.00	10.00
12W91	incl	219.90	220.90	1.00	4.29	0.47	100.00	4.29
12W91		248.20	249.20	1.00	4.52	0.35	100.00	4.52
12W91		255.30	256.50	1.20	0.92	0.32	100.00	1.10
12W91		281.80	282.80	1.00	0.96	0.58	100.00	0.96
12W91		325.70	326.70	1.00	0.77	0.27	100.00	0.77
12W91		340.40	341.60	1.20	0.55	0.22	100.00	0.66
12W92		54.00	55.00	1.00	0.68	0.98	100.00	0.68
12W92		58.50	59.90	1.40	1.77	0.83	100.00	2.48
12W92		142.80	144.00	1.20	0.56	0.57	100.00	0.67
12W92		282.00	285.50	3.50	0.63	0.40	100.00	2.21
12W92	incl	282.00	283.00	1.00	1.25	0.48	100.00	1.25
12W92		296.70	301.70	5.00	0.45	0.40	100.00	2.25
12W92		308.70	312.10	3.40	0.98	0.47	100.00	3.33
12W92		317.10	318.10	1.00	0.51	0.18	100.00	0.51
12W92		366.50	373.80	7.30	1.01	0.56	95.38	7.37
12W92	incl	368.80	369.80	1.00	4.81	1.55	100.00	4.81
12W93		23.00	25.10	2.10	0.83	0.38	95.45	1.74
12W93		115.00	120.60	5.60	3.20	0.67	100.00	17.92
12W93	incl	118.40	119.50	1.10	9.38	1.36	100.00	10.32
12W93		162.00	163.00	1.00	0.52	0.27	100.00	0.52
12W94		37.50	39.50	2.00	3.62	0.26	100.00	7.24
12W95		3.40	4.90	1.50	0.77	0.81	96.67	1.16
12W95		151.80	153.00	1.20	2.54	1.17	100.00	3.05
12W95		186.40	187.40	1.00	0.52	0.26	100.00	0.52
12W95		203.90	204.90	1.00	1.13	0.22	100.00	1.13
12W95		229.70	230.80	1.10	0.65	0.27	100.00	0.72
12W95		235.10	296.40	61.30	0.55	0.36	100.00	33.72
12W95	incl	254.60	256.00	1.40	1.89	0.32	100.00	2.65
12W95	and	258.60	259.60	1.00	1.18	0.06	100.00	1.18
12W95	and	265.70	267.10	1.40	1.14	0.21	100.00	1.60
12W95	and	273.50	274.50	1.00	2.16	0.72	100.00	2.16
12W95	and	289.60	291.20	1.60	1.10	0.20	100.00	1.76
12W95		328.20	329.80	1.60	0.65	0.20	100.00	1.04
12W96		240.90	242.30	1.40	1.53	0.33	100.00	2.14
12W96		253.60	320.10	66.50	2.00	0.54	99.66	133.00
12W96	incl	253.60	254.60	1.00	7.66	0.93	100.00	7.66
12W96	and	271.60	272.60	1.00	7.81	0.53	100.00	7.81
12W96	and	313.70	314.80	1.10	18.65	1.91	100.00	20.52
12W97		89.60	104.80	15.20	1.84	0.70	100.00	27.97
12W97	incl	101.40	104.80	3.40	6.19	0.75	100.00	21.05
12W97		132.90	134.10	1.20	3.60	1.94	100.00	4.32
12W97		141.10	142.10	1.00	1.49	0.16	100.00	1.49
12W97		162.00	164.00	2.00	0.92	0.06	100.00	1.84
12W98		17.10	18.60	1.50	3.28	1.19	53.33	4.92
12W98		39.60	40.60	1.00	0.67	0.51	100.00	0.67
12W99		42.00	44.00	2.00	0.96	0.32	100.00	1.92
12W99		51.00	57.20	6.20	0.68	0.92	100.00	4.22
12W99		151.50	160.30	8.80	1.84	0.50	100.00	16.19
12W99	incl	152.50	153.60	1.10	8.05	1.16	100.00	8.85
12W99		224.50	234.40	9.90	0.45	0.23	100.00	4.46
12W99	incl	224.50	225.50	1.00	1.21	0.47	100.00	1.21
12W100		32.80	33.80	1.00	1.85	0.40	100.00	1.85
12W100		61.90	81.90	20.00	1.91	0.36	100.00	38.20
12W100	incl	61.90	69.00	7.10	4.13	0.46	100.00	29.32
12W100	incl	61.90	62.90	1.00	10.45	0.58	100.00	10.45
12W100	and	66.60	68.00	1.40	10.13	1.08	100.00	14.18
12W102		123.10	126.10	3.00	0.96	0.82	100.00	2.88
12W102	incl	123.10	124.10	1.00	1.85	1.07	100.00	1.85
12W102		151.30	152.50	1.20	2.65	0.80	100.00	3.18
12W102		158.30	159.30	1.00	0.86	0.21	100.00	0.86
12W102		183.10	184.30	1.20	8.46	0.60	100.00	10.15
12W102		214.10	216.10	2.00	0.62	0.51	100.00	1.24
12W102		221.10	224.10	3.00	0.49	0.35	100.00	1.47
12W102		231.80	232.80	1.00	2.91	0.36	100.00	2.91
12W102		243.60	280.60	37.00	1.38	0.53	100.00	51.06
12W102	incl	244.70	245.70	1.00	4.97	0.54	100.00	4.97
12W102	and	246.70	247.70	1.00	4.14	0.59	100.00	4.14
12W102	and	257.20	258.20	1.00	8.62	2.85	100.00	8.62