SOURCE: Gondwana Energy Ltd.

December 21, 2006 09:15 ET

Company Seeks Shareholder Approval to Change Name to FinMetal Mining Ltd.

TAMPERE, FINLAND -- (MARKET WIRE) -- December 21, 2006 -- Gondwana Energy Ltd. (OTCBB: GNWA) announced that a Special Meeting of Shareholders of Gondwana Energy, Ltd. will be held to approve an amendment to the Company's Articles of Incorporation to change its name to FinMetal Mining Ltd. Gondwana's management, having recently completed the acquisition of a private Finnish-based mining company, FinMetal Mining Oy, feels the name change more accurately reflects the company's new vision and strategy for success.

Gondwana Chairman and CEO Dan Hunter stated, "Over the past few weeks we have completed a major acquisition, successfully completed a US$ 2.5 million financing and built an internationally experienced team of financiers, mining executives and strategic partners. Our progress has been swift in repositioning Gondwana for a new future and we expect to see a continuation of that positive momentum in 2007 and beyond. Changing our name is synergistic to our efforts."

The Special Meeting of Shareholders of Gondwana Energy, Ltd. will be held on Tuesday, January 23, 2007, commencing at 10:00 a.m. local time, at the offices of Ballard Spahr Andrews & Ingersoll, LLP, 1225 17th Street, Suite 2300, Denver, Colorado 80202 (telephone: (303) 292-2400). Only shareholders of record at the close of business on December 11, 2006, the record date, will be entitled to notice of, and to vote at, the Special Meeting and any adjournment thereof.

On Behalf of the Board:

Daniel Hunter
Gondwana Energy Ltd.
Suite 700, One Executive Place
1816 Crowchild Trail N.W.
Calgary, AB, Canada T2M 3Y7
P: (303)-299-7307
F: (303)-296-3956
www.GondwanaEnergyLtd.com
Disclaimer

This release contains forward-looking statements that are based on the beliefs of Gondwana Energy Ltd.'s management and reflect Gondwana Energy Ltd.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of Gondwana Energy Ltd. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements.

Contact Information

  • Daniel Hunter
    Gondwana Energy Ltd.
    Suite 700, One Executive Place
    1816 Crowchild Trail N.W.
    Calgary, AB, Canada T2M 3Y7
    P: (303)-299-7307
    F: (303)-296-3956
    www.GondwanaEnergyLtd.com