SOURCE: Geocom Resources Inc.

April 16, 2007 09:00 ET

Espolon Assays Copper to 3.52% Over 10 Meters and Gold to 20.9 Grams/Tonne Over 5 Meters

BELLINGHAM, WA -- (MARKET WIRE) -- April 16, 2007 -- Geocom Resources Inc. ("Geocom" or "The Company") (OTCBB: GOCM). Further to the News Release dated March 22, 2007, wherein Geocom announced the positive gold assays in respect of the Espolon Project, part of the south Chile Region Ten joint venture with Kinross Gold Corporation, the Company is pleased to present the silver, copper, lead, zinc, and tungsten analyses recently received from the laboratory.

Strong copper-silver-gold mineralization is hosted by a subhorizontal manto containing high-angle cross-cutting quartz veins and structural zones. The copper mineralization ranges up to 13% and shows a strong association with silver, which returned values of up to 172g/t (5oz/ton Ag). The mineralized zone is also anomalous in lead and zinc. Tungsten (shown here) and bismuth are also geochemically anomalous, reflecting the skarn environment present over part of the Espolon property.

The subhorizontal mineralized manto is cut by a series of mineralized en echelon quartz veins that occupy a strong north-south structural trend. Mineralization in the veins varies up to 60% total sulfide, with locally up to 30% chalcopyrite. This veining is present throughout the zone, but is most intense over a strike length of 1.5 kilometers (0.9 miles) at the northern end of the known manto.

The Espolon Claim Block comprises 13 claims totaling 3,800 hectares (9,390 acres or about 14 square miles). The claims cover a gold-silver-copper mineralized zone that has now been traced over a strike length in excess of 3 kilometers (2 miles). The mineralized zone is 10 to 30 meters thick (32 to 96 feet). The zone consists of a gently dipping altered sequence of volcanic tuffs, limestones, and argillites. These rocks have been thermally metamorphosed and moderately to completely silicified. Within the mineralized zone there is a massive sulfide layer that varies in thickness up to 3 meters (about 10 feet) consisting of pyrrhotite-pyrite with varying amounts of chalcopyrite.

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                      sample
Sample#  sample type  length  Au_ppm Ag_ppm  Cu%  Pb_ppm Zn_ppm  W_ppm
                     (meters)
=======================================================================
529033   Chip          0.3     0.10   27.4  *2.53   81     375        9
529034   Chip          0.3     0.04   15.7  *2.02   29     255       47
529035   Chip          0.15    0.04   71.0  *1.14  643      87        7
529036   Chip          0.15    0.10   52.6  *2.44  < 3     231        9
529806   Chip          1.2    *3.36    2.9   0.09   64     285      < 2
529813   Composite     0.5     0.48  *172.0 *13.05  83     671      < 2
529820   Chip          2.4     0.48  *0.07  *0.17  < 3      72       79
529821   Chip          1.3    *11.4    4.7   0.09  145      83  * > 100
529823   Grab                  0.11   46.9  *6.92    3     900  * > 100
531058   Chip          8.0    *1.00    4.2   0.43    5      31       25
531059   Chip          8.0     0.44    4.1   0.44  < 3      16       35
531060   Chip          8.0     0.19    4.0   0.10  < 3      26       99
531062   Chip          10.0    0.03   11.5  *3.52   50     119       19
531066   Grab                 *2.47    1.0   0.04   11      30       28
531067   Chip          7.0     0.46    0.7   0.06   11      27       50
531068   Chip          7.0    *3.20    0.7   0.03   12      24       29
531069   Chip          7.0     0.27    0.3   0.01    5      30      < 2
531079   Chip          8.0    *2.11    1.2   0.02   53     174        8
531080   Chip          8.0     0.34    0.5   0.02   15      99      < 2
531082   Chip          2.0     0.15   32.9  *2.97   19     497       14
531083   Chip          5.0    *8.06    8.4   0.09  438    4561      < 2
531084   Chip          5.0   *20.90    9.2   0.05  377     118      < 2
531085   Chip          5.0    *3.00   20.7   0.34  278    1616      < 2
531166   Chip          3.0    *1.43    1.8   0.14  107     231      < 2
531167   Chip          3.0    *5.38    4.4   0.39   35     255      < 2
531173   Grab                  0.14   50.7  *6.62  488    4152  * > 100
531181   Float                *19.1   62.1   0.11 *1.54  *2.72      < 2
531974   Chip          2.0     0.68    3.1   0.17   48      79      100
531975   Chip          2.0     0.27    1.1   0.12   10      93       14
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Overlimit results, and gold assays over 1g/t marked with (*)
The samples are being analyzed at Acme Laboratories in Santiago, Chile using the Group 1D ICP-ES process for 30 elements, and the Au-FA (50) AAS process for gold. All samples containing values of greater than 100ppm silver, 1,000ppm copper, lead and zinc are then assayed using traditional wet chemical analyses and fire assay procedures. Additional assays for both gold and ICP are pending, and will be reported when received.

Geocom and Kinross are jointly exploring and acquiring gold and other mineral targets in Region Ten of south Chile. Properties acquired by the venture are managed via individual joint venture on a 50-50 basis. Kinross has the right to acquire a majority interest by making additional expenditures on individual properties and by exercising warrants granted to Kinross by Geocom.

For further information please contact Samantha Haynes at 604.805.4653 or via e-mail at ir@geocom-resources.com.

On behalf of the Board of Directors

"John E. Hiner"
President & CEO
About Geocom Resources Inc.

Geocom Resources Inc. (OTCBB: GOCM) is a U.S.-based mineral exploration company focused on acquiring and developing mineral resources in geologically acceptable and politically stable countries of the world. The Company is presently active in Alaska, Argentina, Nevada, and Chile. The Company focuses on development of projects that are or will be of interest to mid-size or major producers with the goal to form joint ventures on such projects. Geocom expects to grow and maintain an interest in mines operated by its partners, allowing it to build value through continued exploration. To find out more about Geocom Resources Inc. please visit www.geocom-resources.com.

Safe Harbor Statement:

Statements in this document that are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include regarding the continued evaluation and exploration program in Region Ten of south Chile made pursuant to the joint venture agreement between Geocom and Kinross, and in particular the Company's intention to offer the Espolon claim-blocks to Kinross as a formal joint venture in accordance with the reconnaissance venture agreement. Factors that could cause actual results to differ materially include risks and uncertainties of such as the failure or inability of the parties to enter any formal joint venture agreement, and in particular a joint venture in respect of the Espolon claim-blocks, or either Geocom or Kinross being unable or unwilling, whether for financial reasons or otherwise, to perform obligations under any joint venture agreement that is entered, the inability of either party to continue working in Chile, the inability of either party to finance planned exploration, drilling and work programs, as required from time to time, and any unforeseen difficulties in commencing or completing such program, or the results of the programs not showing any commercially feasible grades of minerals, any of which could, among other things, delay, impede or prevent the planned explorations and harm the viability of Geocom. Actual results may also differ materially from those currently anticipated due to a number of other factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.

WARNING: The Company relies on litigation protection for "forward-looking" statements.

Contact Information

  • GEOCOM RESOURCES INC.
    Suite 413 - 114 West Magnolia Street
    Bellingham, Washington 98225
    Tel (360) 392-2898