SOURCE: Geocom Resources Inc.

January 23, 2006 09:30 ET

Geocom Initiates 2006 South Chile Field Program

BELLINGHAM, WA -- (MARKET WIRE) -- January 23, 2006 -- Geocom Resources Inc. (OTC BB: GOCM) (the "Company" and/or "Geocom") is pleased to announce that it has commenced the field program in Region X of southern Chile. Having confirmed the existence of anomalous gold, copper, and other elements in the 2005 program, Geocom geologists have targeted specific areas for follow-up sampling to identify the source of the anomalous metals. If confirmed, the appropriate areas will then be staked.

Results of the 2005 exploration program validated the regional database that the Company used to identify mineralized terrains, and provided the means to select the most prospective areas for additional work. The Company has accordingly targeted four areas that have been sampled and are highly anomalous in gold and copper. These terrains were identified through analysis of a proprietary database assembled by Geocom's consultant. Prior to commencing the 2006 field program, the database was digitized and loaded into a MapInfo Program GIS format to facilitate target identification.

Multiple samples in the regional database and samples obtained by the Company contain gold, copper, and other elements that management considers to be compelling evidence that specific areas and geologic occurrences are worthy of additional exploration.

Geocom remains very encouraged by the progress of the south Chile program, and anticipates preliminary results from the initial 2006 program shortly. In adhering to its business plan, the Company is actively engaged in discussions with several mining companies to participate in a potential joint venture with the Company for further work in the area. In November 2005 Geocom announced a joint venture agreement had been formed in respect of the La Carolina property in Argentina following the Company's successful work programs on the property.

For further information please contact investor relations at 1-800-539-0289 or by e-mail at ir@geocom-resources.com.

On behalf of the Board of Directors

John E. Hiner, President & CEO

About Geocom Resources Inc.

Geocom Resources Inc. (OTC BB: GOCM) is a U.S.-based mineral exploration company focused on acquiring and developing mineral resources in geologically acceptable and politically stable countries of the world. The Company is presently active in Alaska, Argentina, Nevada, and Chile. The Company focuses on development of projects that are or will be of interest to mid-size or major producers with the goal to form joint ventures on such projects. Geocom expects to grow and maintain an interest in mines operated by its partners, allowing it to build value through continued exploration.

Safe Harbor Statement:

Statements in this document that are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding the Company's interpretation of what constitutes anomalous metals, Geocom's intention to continue its exploration of southern Chile by targeting specific areas in order to identify the source of anomalous metals, if any, and to proceed with staking of the source terrain if warranted. Forward-looking statements also include announcing additional results from the 2006 exploration program upon completion as well as the plan to secure a potential joint venture agreement in respect of the south Chile property with another mining company pending results of the field program. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability of Geocom to finance or otherwise pay for the planned exploration programs in southern Chile and unforeseen difficulties in commencing or completing a work program, or results of the programs, if any, not showing any commercial grades of minerals, any of which could, among other things, result in a decision by the Company to discontinue explorations in respect of the southern Chile properties; in addition, risks and uncertainties include an inability to secure interest from another mining company for prospective joint venture in respect of the property, whether for financial or other reasons, as well as the inability of Geocom to meet its obligations in respect of this or any other of its projects due to an inability to obtain the necessary financing to proceed with the same or otherwise, any one of which could result in harm to the viability of the Company.

Contact Information

  • GEOCOM RESOURCES INC.
    Suite 413 - 114 West Magnolia Street
    Bellingham, Washington 98225
    Tel (360) 392-2898