GobiMin Inc.

GobiMin Inc.

March 19, 2007 11:37 ET

Belmont Increases Its Equity Interest to 43.74% in GobiMin

TORONTO, ONTARIO--(CCNMatthews - March 19, 2007) - GobiMin Inc. ("GobiMin") (TSX VENTURE:GMN) and Belmont Holdings Group Limited ("Belmont") are pleased to report that on March 16, 2007, Belmont exercised common share purchase warrants pursuant to which it acquired 4,500,000 additional common shares of GobiMin, which increased its shareholding to 30,307,500 common shares, representing approximately 43.74% of the total number of currently outstanding common shares of GobiMin as of March 16, 2007.

In September 2005, GobiMin completed its reverse takeover of Goldsat Mining Inc. and the acquisition of Alexis Resources Limited ("Alexis"). The consideration for acquisition of Belmont's interest in and shareholder loan to Alexis was settled by the issuance of 27,007,500 common shares of GobiMin and 4,500,000 warrants, each of which entitling the holder to purchase one common share of GobiMin at the price of CAD $0.50.

Belmont has exercised all the 4,500,000 warrants for an aggregate consideration of CAD$2,250,000 paid to GobiMin. GobiMin has no outstanding warrants in issue after such exercise. Before the exercise of the warrants, Belmont held 25,807,500 shares of GobiMin, representing approximately 39.83% of the total number of currently outstanding common shares of GobiMin as of March 16, 2007.

Belmont may from time to time acquire additional securities of GobiMin, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its positions.

To receive GobiMin press releases by email, send a message to Catarina@chfir.com and specify "GobiMin press releases" on the subject line.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information