Humboldt Capital Corporation
TSX VENTURE : HMB

Humboldt Capital Corporation

October 16, 2007 09:00 ET

Robert W. Lamond and Humboldt Capital Corporation Increase Interest in Goldmark Minerals Ltd.

CALGARY, ALBERTA--(Marketwire - Oct. 16, 2007) - Humboldt Capital Corporation ("Humboldt") (TSX VENTURE:HMB) advises that it has acquired 400,000 common shares of Goldmark Minerals Ltd. ("Goldmark") (TSX VENTURE:GMK)from an individual in settlement of a financial obligation of $40,000. On July 24, 2007, R. W. Lamond received an option to purchase an additional 100,000 common shares of Goldmark at a price of $0.295 per share. As a result, Humboldt has increased its holdings in Goldmark to 5,079,000 common shares, 25% of the outstanding shares. Humboldt together with its major shareholder, Robert W. Lamond, will own and control an aggregate of 6,128,000 common shares or 30% of the outstanding shares, and assuming Mr. Lamond exercises his option to purchase 100,000 common shares, they will own 6,228,000 or 31% of the outstanding shares of Goldmark. Humboldt may be considered to be acting jointly on in concert with Mr. Lamond under applicable securities laws. The purchases are conditional upon certain events including the approval of the TSX Venture Exchange.

The acquisitions were for investment purposes and each of Humboldt and Robert W. Lamond may, from time to time, as market opportunities exist or develop, increase or decrease their beneficial ownership, or control and direction over, Goldmark's common shares as permitted by securities law.

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 in 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

  • Humboldt Capital Corporation
    R.W. Lamond
    Chairman of the Board
    (403) 269-9889
    (403) 269-9890 (FAX)
    or
    Humboldt Capital Corporation
    C.A. (Tony) Teare
    Executive Vice President
    (403) 269-9889
    (403) 269-9890 (FAX)
    Website: www.humboldtcapital.com