Edgewater Announces $500,000 Non-Brokered Private Placement

Edgewater Exploration Ltd. ("Edgewater" or the "Company") (TSX
VENTURE:EDW)(OTCQX:EDWZF) is pleased to announce a non-brokered private
placement financing of $500,000. Edgewater's management and board of directors
will be acquiring 6,000,000 units (60%) in the offering.


The non-brokered private placement will consist of the Company issuing
10,000,000 units (the "Units") at a price of $0.05 per Unit. Each Unit will
consist of one common share and one common share purchase warrant. Each warrant
will entitle the holder to acquire an additional common share for $0.10 for a
period of 5 years from the date of closing. Proceeds of the financing will be
used for general working capital. 


The securities issued in the private placement will be subject to a hold period
of four months following the distribution date, under applicable Canadian
securities legislation.


The private placement is subject to TSX Venture Exchange approval. 

About Edgewater Exploration Ltd.

Edgewater is a mineral development and exploration company focused on the
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, President and CEO

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Edgewater Exploration Ltd.
Ryan King
Vice President
[phone]
[e-mail]