July 28th, 2008, VANCOUVER, B.C. - GEO MINERALS LTD. ("Geo" or the "Company") (GM-TSX:V) has received a further "Comfort letter" from Saskatchewan Energy and Resources stating that of the coal permit applications processed to date, on behalf of Geo Minerals Ltd., a further 45,526 acres of issued Coal Prospecting Permits (CPP) will be given priority sequence. This brings the total to 113,816 acres that have received comfort letters with first priority in the area of interest in proximity to Goldsource Mines Inc.'s discovery (TSX-V symbol: GXS). All of the applications have been done in accordance with all the rules and regulations set forth by the government of Saskatchewan's permitting office.
The "Comfort Letter" received from the Saskatchewan Ministry of Energy and Resources pertains to the applications submitted on behalf of Geo on May 16th, 2008 and includes a list of dispositions applied for, the date of the submission, land description, boundary plan, affirmation of fee payment and first-year rent, the allocated Coal Prospecting Permit (CPP) numbers, and if the submission has priority over other applications.
Geo's goal, with regards to targeting coal permit applications, is to acquire permits on lands that show favorable cretaceous age coal hosting geological stratigraphy similar to Goldsource's recent discovery lands. The Company is determined to position itself in proximity to both the Pasquia Hills coal discovery area of south-east Saskatchewan and 80-100km in the Narrow Hills region where North America Gem (TSX-V symbol:NAG) recently acquired the Adamas discovery (see PR dated May 14th, 2008).
The standard issue Comfort letter states "the extent to which the land described in these applications can be issued has not been investigated, and therefore this letter should not be construed as an indication that any land will be issued, as a full review is still to be completed."
The Company will announce any confirmation of the Coal Prospecting Permits that become validated through the government of Saskatchewan's permitting office process. The process time frame is determined by the permitting office and all companies in the process are dealt with similarly and given the same assurances and guarantees by the Government of Saskatchewan.
The Company further announces that it has granted 50,000 stock options to a director of the Company, exercisable at a price of $0.25 per share for a period of five years from the date of grant. The option has been granted in accordance with the Company's stock option plan.
For further information we invite you to visit us at www.geominerals.ca.
Geo Minerals is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders.
ON BEHALF OF THE BOARD
Signed "Michael England"
Michael England, President
Investor Relations Contact:
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