SOURCE: Gemco Minerals Inc.

March 14, 2008 15:28 ET

Gemco Clarifies Disclosure

VANCOUVER, BC--(Marketwire - March 14, 2008) - Gemco Minerals Inc., (OTCBB: GMML)

As a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure.

Gemco Minerals Inc. ('the Company') meets certain criteria, which requires the Company to conform with securities regulation under jurisdiction of the British Columbia Securities Commission ("BCSC") and specifically National Instrument 43-101 ("NI 43-101"). As a result of the review by the BCSC, the Company has become aware of previous disclosure in its website and some news releases which are considered promotional or forward-looking and in contravention of NI 43-101 and we wish to make clarification or retraction herein. In addition, and on a going forward basis, the Company has retained Devlin Jensen, Barristers & Solicitors, a law firm in Vancouver, BC, to advise on any future BCSC compliance matters and to compliment the Company's United States securities counsel.

In its news release dated June 6, 2007, and on the Company's website, regarding the acquisition of controlling interest in EKG Minerals, the Company commented on the uranium potential of EKG's Snowflake Property based on historical BC Minfile records and its location in an area known for uranium concentrations. The Company herein retracts this statement, as there are no known uranium reserves in the area of the Snowflake property. In addition, there are no known uranium concentrations on the Snowflake property. The Company also stated some grades of uranium from the historical records and documents that it had reviewed and did not name a qualified person for this scientific and technical information. This is in contravention of NI43-101 and the Company retracts these statements and advises the public not to rely on the retracted statements.

In the Company's news release dated April 25, 2007, regarding its joint venture with Canamex and its option to purchase placer claims in Mexico, the Company disclosed estimates of a potential recovery of certain tonnes of alluvial magnetite and Ilmenite product with assays also indicating recoverable gold and silver. This disclosure did not provide cautionary language and the exploration targets were not based on information prepared by a qualified person in relationship to the optioned property. This is in contravention of NI43-101 and the Company retracts these statements and advises the public not to rely on the retracted statements.

On its website, the Company made statements regarding its Burns Mountain property including; the Company's position to take advantage of all time highs in gold and silver prices; certain tonnes of ore material extracted from its adits is ready for processing with excellent assay results from tested locations; the property is in an area of high mineral potential with prominent mesothermal quartz vein systems which hold high grade gold deposits. The Company also stated 2008 plans to confirm mineral resources, complete a feasibility study and finance the project beyond feasibility, which are premature and misleading based on the current stage of exploration of the property. Overall, the BCSC has advised these statements are premature and promotional and the disclosure of tonnes of ore material is in contravention of NI43-101, which management acknowledges, and therefore, the Company has removed these statements accordingly.

On its website, the Company made statements regarding the neighboring property of its Burns Mountain property, including that it has proven ore reserves and that the Bonanza Ledge deposit is tied to historical proven producers. The BCSC has advised these statements are inaccurate, misleading and contrary to NI43-101, which management acknowledges, and therefore, the Company has removed these statements accordingly.

Further, Gemco is pleased to advise that it has updated its Burns Property NI43-101 technical report to include exploration work from its 2006 and 2007 exploration programs and investors can review this report posted on the website at www.gemcominerals.net

On behalf of the Board of Directors,
Gemco Minerals Inc.

"Thomas Hatton"
Thomas Hatton, President

Statements released by Gemco Minerals Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.

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