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?Geovic Mining Corp. aims to be the world's
largest primary producer of cobalt by late-2010.?
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Address:
Geovic Mining Corp.
743 Horizon Court
Suite 300A
Grand Junction, CO 81506
Phones:
970.256.9681
Corp. HQ
720.350.4130
I.R. Direct
888.350.4130 I.R. Toll-Free
Fax:
970.256.9241
E-mail: ahoffman@geovic.net
We?re on the Web!
www.geovic.net
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GEOVIC MINING APPOINTS CONRAD HOUSER AS PRESIDENT OF
GEOVIC ENERGY
September 12, 2008 ? Geovic Mining Corp. (?Geovic? or ?The Company?,
TSX: GMC, OTC.BB:GVCM), today announced the appointment of Conrad B. Houser
to the position of Senior Vice President, as well as President of Geovic
Energy Co., a wholly-owned subsidiary.
Mr.
Houser has more than 25 years experience in international mining activities,
including project management, strategic planning, finance, administration,
mine design, environmental permitting, compliance, and marketing.
Additionally, as a registered attorney, he has frequently served as an expert
witness in many U.S. and international litigation matters. With
experience in numerous countries, including Australia, Brazil, England,
Japan, Kenya, Korea, Thailand, the Netherlands, Turkey, and Zambia, in many
products including precious metals, coal, trona, limestone, and phosphates,
he adds a new dimension to Geovic.
Mr.
Houser gained a Professional Engineering license in Colorado after earning
engineering degrees from both the United States Air Force Academy in Colorado
Springs and Rice University in Houston. He later studied law at Brigham
Young University, graduating with honors in 1975.
?Conrad
brings wide-ranging knowledge of natural resource recovery, environmental
compliance, government relations and corporate development to Geovic,? said
John E. (Jack) Sherborne, CEO of Geovic Mining. ?He has a track record of
providing the vision to create corporate goals, as well as the leadership and
planning skills necessary to meet such targets. He is ideally suited to
build on Geovic?s strong business foundation, and lead its energy segment to
an exciting future.?
Aside
from its core cobalt/nickel/manganese operations in Cameroon, Africa, Geovic
in 2007-08 (through Geovic Energy) completed several transactions, including:
1) Leased 103
square miles (267 sq.km.) of uranium properties in the Denver-Cheyenne Basin
of Northeast Colorado and Southeast Wyoming
2) Leased 12.8
square miles (33 sq km) of prospective gold/uranium properties in the
Whetstone Mountains near Tucson, Arizona
3) Acquired 18.4
square miles (47.7 sq km) of potential uranium-bearing properties in the
Great Divide Basin, Wyoming
4) Acquired a
one-square mile (2.6 sq km) gold prospect in Northwestern Arizona, and
5) Acquired a 20%
interest in three oil and gas prospects in the Powder River Basin,
Wyoming
During
the last commodities boom in the 1970s and 1980s, several members of Geovic?s
senior management team had extensive experience working on these specific
projects, many of which host historical mineral deposits, or on related
projects in these geographic regions. Consequently, the Company aims to
re-evaluate or explore these projects further in the coming years. To
date, the only funds expended by Geovic Energy have been for nominal lease
costs and surface geological mapping and re-sampling work. More detail
will be provided on these projects over the next several months, and posted
on the Company?s website, www.geovic.net.
Geovic
Background
Geovic
is a U.S.-based corporation whose principal asset is a significant
cobalt-nickel-manganese deposit in the Republic of Cameroon, with initial
production scheduled for late 2010. Additionally, the company controls
a diverse portfolio of energy, precious metals, and uranium projects in the
United States, operated through its wholly-owned subsidiary Geovic Energy.
For
more information, please contact:
Andrew
Hoffman
or
Vanguard Shareholder Solutions
VP,
Investor
Relations
Direct 604-608-0824
Geovic
Mining
Corp.
Toll-Free 866-801-0779
Direct
(720)
350-4130
ir@vanguardsolutions.ca
Toll-Free (888) 350-4130
ahoffman@geovic.net
On
behalf of the Board
William
A. Buckovic, President and Director
Cautionary Note
Regarding Forward Looking Statements
Statements contained
in this press release that are not historical facts are forward-looking
statements (within the meaning of 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, grades, 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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