Goldmarca Limited
TSX VENTURE : GML

Goldmarca Limited

October 03, 2007 09:38 ET

Goldmarca Shareholders Propose Name Change to Ecometals

Company Names New Board Members, Management

TORONTO, ONTARIO--(Marketwire - Oct. 3, 2007) - Goldmarca Limited (TSX VENTURE:GML) today announced its shareholders have voted to change its corporate name to Ecometals Limited. The company also announced the election of two new board members and the appointment of two members of senior management.

The corporate name change was approved by shareholders at the company's annual general meeting held Monday in Toronto.

The new corporate name, which becomes effective upon approval by the Toronto Venture Exchange, stresses the company's philosophy of merging the goals of economics with ecology in the advancement of its mineral exploration properties in South America.

Shareholders approved the election of Keith R. Hulley and Christophe F. Charlier, two seasoned mining executives, to its Board of Directors. Mr. Hulley was voted by the board to serve as Chairman.

Mr. Hulley's appointment rounds out the expertise now present on the board as he brings 45 years of mining experience in engineering, construction, operations and executive management. His career has included multiple assignments in Africa, Canada, Australasia, Latin America and the U.S.

Mr. Hulley presently serves as Chairman of the Board of Apex Silver Mines Limited (AMEX: SIL). He retired as CEO of Apex Silver Mines at the end of 2005, having directed the development of its San Cristobal project from the early exploration drilling phase through to the beginning of major construction of this world class, US$600 million mining project. San Cristobal is now successfully in the production start-up phase.

Mr. Charlier served as Director of Strategic Development at MMC Norilsk Nickel until 2004. In this capacity Mr. Charlier engineered numerous acquisitions for Norilsk, including Gold Fields Limited (South Africa) and Stillwater Mining Company (USA). During his tenure the market capitalization of Norilsk grew to more than US$40.0 billion from US$3.6 billion.

Mr. Charlier also worked in venture capital and investment banking. He holds a B.Sc. cum laude from the Wharton School of Business of the University of Pennsylvania.

"We are privileged to be able to attract board members with such exemplary credentials," said Fran Scola, Chief Executive Officer. "Their experience in mining will be a valuable resource for management."

Mr. Scola also announced the appointment of Gary Artmont as Chief Geologist and Steven McMullen as Vice President, Exploration (Ecuador).

Mr. Artmont has over 33 years experience in the mining business, operating in 19 countries and is familiar with all aspects of mineral exploration from grassroots to project feasibility. In the early 1990s, Mr. Artmont was Chief Geologist for Freeport-McMoRan Copper & Gold, based in Indonesia.

During his tenure with Freeport, in excess of 120,000 meters of drilling was completed on 17 prospect areas, which resulted in the discovery of the 8,000,000 plus ounce Wabu gold deposit. In the mid-2000s, he evaluated acquisition opportunities for Ivanhoe Mines, Prufrock Partners and Stillwater Mining in Eastern Europe, West Africa, South America and Eastern Asia. His work has focused on a wide range of commodities including gold, copper, lead-zinc, iron, uranium and nickel. During his career, Mr. Artmont has conducted over 150 site visits to producing mines located throughout the world.

"Gary has been advising us as a consultant in Ecuador since March 2007," noted Mr. Scola. "We are pleased that Gary has decided to join the company on a full-time basis."

Mr. McMullen is a geophysicist who has been involved in exploration for minerals in Africa, Asia, South America and North America. He brings over 25 years of experience, with a strong background in mineral exploration, environmental studies, social studies and management. Mr. McMullan is a member of the Society of Exploration Geophysicists, South African Geophysical Association, and is a Registered Professional Geoscientist with the Association of Professional Engineers and Geoscientists of Saskatchewan.

"Steve's extensive operational experience in mining exploration management will fill a major requirement as we move forward with our exploration program," said Mr. Scola.

The company also announced it has retained R&K Global Finance Limited to serve as investor relations consultants. In July 2007, R&K successfully completed a US$11,000,000 private placement for the company with institutional investors. R&K will receive a retainer of US$8,000 per month for services rendered under a 12-month contract.

Other matters approved yesterday at the Board of Directors meeting included the nomination and approval of members of the Audit Committee. The board named William Lamarque to continue to serve as Chairman of the committee and Mr. Hulley and Mr. Charlier to serve as independent members, thus bringing the company into compliance with TSX-V requirements.

On behalf of management

Goldmarca Limited

Fran Scola, Chief Executive Officer

About Goldmarca

Goldmarca Limited is a Canadian mining company focused on the exploration and development of mineral resources in Latin America. The company's projects are principally focused on gold and base metal exploration assets in South America. In addition, Goldmarca owns 44.7% of Atomaer Holdings Pty Ltd., a private Australian holding company.

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