Edgewater Closes Private Placement

VANCOUVER, BRITISH COLUMBIA, Nov 02 (MARKET WIRE) --
Edgewater Exploration Ltd. ("Edgewater" or the "Company") (TSX VENTURE:
EDW) is pleased to announce it has closed a non-brokered, private
placement financing of 7.5 million units at a price of $0.05 per unit for
gross proceeds of $375,000. Each unit consists of one common share and
one common share purchase warrant. Each common share purchase warrant
entitles the holder to purchase one common share in Edgewater for a
period of two years from closing at a price of $0.10 per share. There is
no commission or finder's fee payable on the financing. The common shares
issued will be subject to a four month hold period from closing expiring
on March 3, 2010. The proceeds of the private placement will be used by
the Company for general working capital.

Edgewater is a mineral exploration company and has an option on the Troy
Property in north-eastern Ontario.

On behalf of the board of EDGEWATER EXPLORATION LTD.

Edward Farrauto

This news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. Such forward-looking
statements involve inherent risks and uncertainties and are subject to
factors, many of which are beyond Edgewater's control, that may cause
actual results or performance to differ materially from those currently
anticipated in such statements

Neither 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.

Contacts:
Edgewater Exploration Ltd.
Edward Farrauto
President, Chief Executive Officer
(604) 687-3992

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