Edgewater Exploration Begins Drilling at Enchi Gold Project in Ghana

Mr. George Salamis, President and CEO of Edgewater Exploration Ltd., (TSX VENTURE:EDW)(OTCQX:EDWZF) has announced that drilling activities have begun on the Company's Enchi Gold Project in Ghana.

Two drills have been mobilized for the commencement of a planned program consisting of 12,000 m. The target for this phase of drilling are the three principal zones at Enchi; Boin, Nyamebekyere, and Sewum. Previous drilling has included more than 40,000 metres and was successful in outlining continuous mineralized zones over strike lengths of more than one kilometre with widths averaging 10 to 30 metres.

George Salamis, President and CEO states, "Over the past 4 months Edgewater has methodically reviewed the historical data and been able to get a better understanding of the geology with an experienced in-country team having conducted extensive mapping, soil sampling and trenching. We have now successfully mobilized drills in both Ghana and Spain (Corocesto Gold Project), and are looking forward to a significant amount of news flow in Q1 2011."

Red Back Mining (acquired by Kinross) and previous workers discovered 16 separate gold mineralized zones on the Enchi Gold Project that have the characteristics of epigenetic mesothermal Ashanti-style quartz vein style gold deposits. This style of gold mineralization is the most important type of gold occurrence in West Africa.

Drilling during the current phase will include both in-fill and step-out holes, designed to confirm existing results, close spacing between intercepts and extend the mineralized zones to depth and along strike. It is expected the drilling program will generate sufficient amount of new data, alongside the existing drill information, to support a NI 43-101 compliant resource estimate to be completed for the Project in the first half of 2011.

The previously announced field program (News Release; October 13^th 2010) has accomplished a significant amount of work including; establishment of field camp, road and access upgrading, line cutting of more than 275 kilometres and the collection of more than 5,000 soil samples. Analyses for the soil samples continue to be received with results to date outlining a series of additional gold anomalous zones along more than 20 kilometres of strike length for a series of sub-parallel structures including extensions to the main Nyamebekyere Shear Structure and several related off-shoots. Mapping completed in conjunction with the geochemical work has outlined numerous areas with significant quartz veining including previously un-documented old underground workings. Additional work completed over the last three months includes a series of trenches on the Boin Zone further defining targets to be drilled in this phase. Additional trenching will also be completed on other targets including Sewum and Eradi.

The 568 km² Enchi Gold Project located in southwest Ghana, West Africa covers a 40 kilometre strike length of the Bibiani Shear Zone ("BMZ") that hosts a number of major gold mines and deposits including Kinross Gold Corporation's (TSX: K, NYSE: KGC, "Kinross") Chirano Gold Mine located 70 km northeast of the Project and the Bibiani Gold Deposit located 90 km north-east of the Project.

Mr. Gregory Smith, P.Geo, the 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.