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GEOVIC MINING
CONTRACTS INVESTOR RELATIONS FIRM FOR U.S. MARKET DEVELOPMENT
June 27, 2008 ? Grand Junction, CO - Geovic
Mining Corp. (?Geovic? or ?The Company?, TSX:GMC) is pleased to announce a
new strategic relationship with San Diego Torrey Hills Capital ("Torrey
Hills"), commencing immediately for a one-year term. Torrey
Hills, which has been involved in the junior resource capital market for the
past decade, will act as an Investor Relations consultant, principally
related to increasing Geovic?s marketing efforts in the United States.
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 that raised approximately $93
million. Subsequently, Geovic became a reporting issuer under the
Securities and Exchange Act of 1934 in July 2007, and is now subject to all
reporting requirements in both Canada and the United States. The
Company aims to increase its market exposure in the U.S. through the new
relationship with Torrey Hills, and has also initiated the process of
upgrading its U.S. stock listing to the OTC Bulletin Board market, seeking to
finalize this effort by the fall.
In connection with the agreement, Geovic has granted Torrey
Hills warrants to purchase 250,000 common shares at an exercise price of
$1.26 per share for a period of three years from the date of the
agreement. The warrants will vest over 12 months in four equal stages,
commencing on the date of the agreement.
Andrew Hoffman, Vice President, Investor Relations of
Geovic Mining, comments "We are enthusiastic about working with Torrey
Hills to expand our marketing efforts. Torrey Hills has demonstrated an
impressive track record with mining and energy companies, and we look forward
to utilizing their expertise.?
About San Diego Torrey Hills Capital, Inc.
San Diego Torrey Hills Capital, Inc. is a corporate
finance and investor relations advisory firm specializing in the development
of emerging growth companies. With operations in Del Mar, California
and Boston, Massachusetts, it represents privately held and publicly traded
companies throughout the United States and Canada. Torrey Hills'
principal objective is to advise senior management and business owners with
respect to (i) the identification and implementation of value-enhancing
corporate strategies; (ii) capital raising, mergers and acquisitions, and
other financial transactions; and (iii) investor relations, market support
and awareness activities.
Geovic Background
Geovic is a US based corporation, whose principal asset
is a significant cobalt-nickel-manganese deposit in the Republic of Cameroon,
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. The unique ore in the first deposit to be developed
is concentrated and upgraded to approximately 0.7% cobalt, 1.0% nickel and
3.8% manganese by simple washing and sizing prior to processing, thereby
substantially enhancing economic performance.
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 ? VP, Investor Relations
Direct (720) 350-4130
Toll-Free (866) 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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