Gitennes Exploration - private placement closed

VANCOUVER, Sept. 1 /CNW/ - Gitennes Exploration Inc. (TSX-GIT) announces
that the private placement originally announced on August 11, 2006 has closed.
A total of 4,250,000 units were issued at a price of Cdn$0.25 per unit, for
gross proceeds of Cdn$1,062,500. Each unit is comprised of one common share
and one common share purchase warrant. Each warrant entitles the holder to
purchase one common share at a price of $0.30 for a period of 12 months after
closing. The warrant expiry date may be shortened if the daily closing price
of the Company's shares exceeds $0.55 for 15 consecutive business days.
Insiders subscribed for 7.8 % of the placement. All securities issued in this
placement are subject to a four month hold period.
The placement was completed with the assistance of a number of agencies
and brokerage firms. The Company has paid cash commissions totaling $40,950.00
and issued 273,000 broker warrants as finder fees and/or commissions in
connection with the offering. The terms of the broker warrants are the same as
the warrants included in the private placement units.

Gitennes Exploration Inc. is an established mineral exploration company
with properties in Peru. The Company is currently exploring a gold discovery
at its Tucumachay Project. Recent drilling returned favourable results on a
large, near-surface target that is open for expansion through step-out
drilling. Separate zones of carbonate-hosted zinc mineralization are also
present at Tucumachay, and on the adjacent wholly-owned Titimina property. In
addition to Tucumachay and Titimina the Company owns the Urumalqui property, a
large epithermal silver-gold vein system located in northern central Peru, and
is evaluating several new copper prospects located in southern Peru.
Additional information about the Company is available at www.gitennes.com
and in the regulatory filings available within the "Company Profiles" section
at www.sedar.com.

The Toronto Stock Exchange has neither approved nor disapproved the
information herein.