Gitennes Receives Payment on Urumalqui Project and Amends Agreement

VANCOUVER, Feb. 28, 2014 /CNW/ - Gitennes Exploration Inc. ("Gitennes or the Company", GIT-TSXV) has received $200,000 from AndeanGold Ltd. under the Share Sale and Mining Agreement (the "Agreement") which gives AndeanGold the right to purchase a 40% interest in the Urumalqui Silver-Gold Project.  Of the $200,000 received, $150,000 has cured the Notice of Default delivered to AndeanGold by Gitennes on January 2, 2014.

Gitennes and AndeanGold have agreed to further amend the Agreement as follows:

1) The next scheduled payment due on March 17 under the Agreement would have been $400,000 and 250,000 common shares.  Andean has made a payment of $50,000 and will pay the 250,000 common shares on March 17;

2) deferring the balance of $350,000 to June 17; and

3) extending the final two payments of $500,000 and 500,000 common shares due September 17, 2014 and $1,000,000 and 600,000 common shares due March 17, 2015 by 90 days.

All other terms of the Agreement remain unchanged.  AndeanGold is exploring Urumalqui under the Agreement and a 60% Option Agreement that together allows AndeanGold to own 100% of Urumalqui.

About Urumalqui:

Urumalqui is an advanced silver-gold project located approximately 70 kilometres by road east of the port city of Trujillo, Perú.  Gitennes acquired Urumalqui in 2003 in a joint venture and in June 2005 the joint venture was terminated and Gitennes assumed 100% control of the Project.  Exploration activities between 2003 and 2008 included three core drilling campaigns totalling 47 holes.  In 2010 the project was optioned to AndeanGold Ltd whom has completed two diamond drilling campaigns (44 holes totalling 7,124 metres).  In November 2011 an Initial Resources Estimate for the Urumalqui Vein was prepared by MQes, Inc.  The technical report supporting the estimate is available under both AndeanGold and Gitennes' company profiles at www.sedar.com.

Information about Gitennes can be found at www.gitennes.com.

GITENNES EXPLORATION INC.
Ken Booth,
President

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.

This press release does not constitute an offer to sell or a solicitation to buy any of the securities of Gitennes in the United States.

SOURCE Gitennes Exploration Inc.

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