Gee-Ten Ventures Inc.

Gee-Ten Ventures Inc.

October 05, 2007 16:07 ET

Gee-Ten Ventures Announces Release of its Year-End Financial Results

LAVAL, QUEBEC--(Marketwire - Oct. 5, 2007) - Gee-Ten Ventures Inc. ("Gee-Ten" or the "Company") (TSX VENTURE:GTV) announces today that its has released its financial results for the year ended May 31, 2007. Gee-Ten's financial statements, along with management's discussion and analysis thereon, are available for consultation at www.sedar.com.

In addition, the Company announces that as a result of its due diligence investigations and title searches, it will no longer pursue its interest in the Bashala joint venture, owner of exploration permit 992, and in the Luwanda joint venture, owner of exploration permit 4679. Both such permits relate to properties located in the Tshikapa region of the province of Western Kasai in the Democratic Republic of Congo (the "DRC"). The Company was to pay Diacorp Group Inc. an aggregate of US$70,000 and issue an aggregate of 800,000 common shares of the Company in connection with the acquisition of its interests in such joint ventures. However, given that Gee-Ten's investigations revealed that the title to the seller's interest in the joint ventures was not adequately secured, such payments will not be made and the Company will not pursue such joint ventures.

The Company will continue to pursue and preserve its stake in the small mine exploration permit 505 (the "Kamonia Project"). The Kamonia Project in the region of Tshikapa and lies within a kimberlite emplacement corridor which extends from the well known diamond fields of Lunda Norte province in neighboring Angola northeast into the Kasai provinces of the DRC. It consists of a mining permit in one of the most prospective kimberlite exploration zones in Africa where up to now, relatively little exploration has been done using modern techniques.

ABOUT GEE-TEN VENTURES

Gee-Ten is a junior mining exploration company engaged in acquiring and exploring mineral properties in the province of Quebec, the state of Nevada and parts of Africa.

FORWARD-LOOKING STATEMENTS:

Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Gee-Ten Ventures Inc.
    Me Lawrence Moroz
    450-622-6626
    450-622-8292 (FAX)