Edgewater Increases Non-Brokered Private Placement to $790,000

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 16, 2013) - Edgewater Exploration Ltd. (TSX VENTURE:EDW)(OTCQX:EDWZF) ("Edgewater" or the "Company") is pleased to announce the Company has increased the non-brokered private placement financing to $790,000 from $500,000.

The non-brokered private placement will consist of the Company issuing 15,800,000 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.