GEOVIC MINING ANNOUNCES COMMENCEMENT OF TRADING ON
OTC BULLETIN BOARD
August
27, 2008 ? Grand Junction, CO - Geovic Mining Corp. (?Geovic? or ?The
Company?, TSX:GMC, OTC.BB: GVCM) is pleased to announce that it has commenced
trading on the Over the Counter Bulletin Board? Market ("OTC BB")
under the trading symbol "GVCM" as of Wednesday, August 27,
2008. Newbridge Securities Corporation of Florida registered with the
OTC BB as a market maker in the securities of the Company.
The OTC BB is a
regulated quotation service that displays real-time quotes, last-sale prices,
and volume information in over-the-counter (OTC) equity securities, including
U.S.-based securities, foreign securities and ADR's. It provides access
to more than 3,300 securities, and includes more than 230 participating
Market Makers.
Geovic is a Toronto
Stock Exchange (TSX) listed company that went public via a reverse takeover
(RTO) transaction in December 2006, followed by two public offerings in early
2007. Subsequently, Geovic became a reporting issuer under the
Securities and Exchange Act of 1934 in mid-2007, and is now subject to all
reporting requirements in both Canada and the United States.
Geovic Background
Geovic is a U.S.-based
corporation whose principal asset is a significant cobalt-nickel-manganese
deposit in the Republic of Cameroon, Africa, with initial production
scheduled for late 2010. Geovic owns 60% of seven
cobalt-nickel-manganese deposits located on a 1,250 square kilometer Mine
Permit in Cameroon. Nkamouna, the first property planned for
production, has proven and probable reserves of 299 million pounds Cobalt,
830 million pounds Nickel, and 1,606 million pounds Manganese.
Additional Company and
Project information may be found on the websites www.geovic.net, www.sedar.com and www.sec.gov.
For more information,
please contact:
Geovic Mining Corp.
Andrew Hoffman ? V.P.,
Investor Relations
Direct
(720)
350-4130
Toll-Free (888)
350-4130
ahoffman@geovic.net
Or
Vanguard Shareholder
Solutions Inc.
Keith Schaefer
Direct (604) 608-0824
Toll-Free (866)
891-9756
www.vanguardsolutions.ca
On behalf of the Board
John E. Sherborne, CEO
Statements contained
in this press release that are not historical facts are forward-looking
statements (within the
meaning of the Canadian securities legislation) that involve risks and
uncertainties.
Forward-looking statements include, but are not limited to, statements with
respect
to the future price of
metals; the estimation of mineral reserves and resources; the timing and
amount of estimated
future production, costs of production, and capital expenditures; costs and
timing of the
development of new deposits; and success of exploration activities,
permitting time
lines, currency
fluctuations, requirements for additional capital, government regulation of
mining
operations,
environmental risks, unanticipated reclamation expenses, title disputes or
claims and
limitations on
insurance coverage. In certain cases, forward-looking statements can be identified
by the use of words
such as "proposes", "expects", "is expected",
"scheduled", "estimated",
"intends",
or variations of such words and phrases or state that certain actions, events
or results
"will"
occur. Forward looking statements involve known and unknown risks,
uncertainties and
other factors which
may cause the actual results, performance or achievements of the Company
to be materially
different from any future results, performance or achievements expressed or
implied by the
forward-looking statements. Such risks and other factors include, among
others,
risks related to
operations; actual results of current exploration activities; conclusions of
economic evaluations;
changes in project parameters as plans continue to be refined; future
prices of metals;
possible variations in ore reserves, grade or recovery rates; failure of
plant,
equipment or processes
to operate as anticipated; accidents, labour disputes, other risks of the
mining industry,
delays in obtaining governmental approvals or financing or in the completion
of
development or
construction activities and other factors as described in detail in the
Company's
Annual Information
Form and Annual Report on Form 10-K, quarterly reports on Form 10-Q
and other filings with
the U.S. Securities and Exchange Commission and Canadian securities
regulatory
authorities. There can be no assurance that forward-looking statements will
prove to
be accurate, as actual
results and future events could differ materially from those anticipated in
such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. The
forward-looking statements in this press release speak only as of the date
hereof.
The Company does not
undertake any obligation to release publicly any revisions to these
forward-looking
statements to reflect events or circumstances after the date hereof to
reflect the occurrence of unanticipated events.
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