Goldmark Minerals Ltd.
TSX VENTURE : GMK

Goldmark Minerals Ltd.

October 04, 2007 09:00 ET

Goldmark Announces Management Changes and Updates Exploration and Corporate Activity

CALGARY, ALBERTA--(Marketwire - Oct. 4, 2007) - Goldmark Minerals Ltd. (TSX VENTURE:GMK) -

Management Changes

The Company wishes to announce that Mr. Gerhard Jacob has resigned as President and as a Director of the Company in order to pursue other opportunities. The Company's Chief Executive Officer, Mr. Peter Barker, will assume the responsibilities of President, and the field work in South America will continue to be managed by the General Manager of the Company's Ecuadorian subsidiary, Dayanara Mariela Hinojosa Espinoza.

Peru

Goldmark has entered into an exclusive option to access and explore certain properties located in Huaytara Province, Peru, some 300 kilometers south of Lima with a view to negotiating a purchase agreement. The option has been extended to January 30, 2008, and the scope has been increased to include additional properties comprising 4200 hectares. It now totals more than 9800 hectares. Goldmark commenced an exploration program on the property in late August, which consists of rock and soil sampling, mapping and some geophysical analysis on the properties. The first phase of sampling has been completed. The initial assay samples have been sent to ALS Chemex in Vancouver for analysis.

General

Goldmark is continuing to assess its prospects in Ecuador but plans to discontinue, for now, further work in Brazil.
The Company remains in a strong financial position, with $1.8 million of cash. The Company plans to increase its mining exposure through the acquisition of new properties, joint ventures or corporate transactions.

Forward-looking statements - the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release.

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

Contact Information

  • Goldmark Minerals Ltd.
    Peter Barker
    Chief Executive Officer
    (403) 299-0357
    or
    Goldmark Minerals Ltd.
    Robert W. Lamond
    Chairman of the Board
    (403) 269-9889
    (403) 269-9890 (FAX)
    Website: www.goldmarkminerals.com