Gemini Corporation
TSX VENTURE : GKX

Gemini Corporation

August 23, 2007 12:03 ET

Gemini Continues Heavy Oil Market Penetration

CALGARY, ALBERTA--(Marketwire - Aug. 23, 2007) - Gemini Corporation (TSX VENTURE:GKX) is pleased to announce the signing of a significant fabrication and construction contract with a major heavy oil producer valued at approximately $18 million. This project is scheduled to commence immediately and continue through to April, 2009. Gemini's involvement in this thermal recovery project encompasses the fabrication of several modules and the construction of a number of well-pads.

This project provides further evidence of the Corporation's success in building its reputation within the heavy oil industry as a preferred fabricator and constructor for thermal recovery projects. When combined with the other similar projects announced earlier this year, the Field Services segment backlog now totals more than $40 million, nearly doubling the value booked last year at this time. Current business development efforts are focused upon securing these longer-term projects to provide a more stable base of business to better utilize existing infrastructure and improve profitability.

Gemini is focused on selectively expanding its service offering within the heavy oil sector while maintaining support for existing and new clients in the conventional oil and gas market. This approach will provide a more balanced revenue stream when combined with the progress being achieved in downstream processing and alternative energy.

"These agreements are important to our long-term success by firmly positioning Gemini as a supplier of choice to the heavy oil market", said Carl Johnson, Gemini's President and CEO. "They also position us well to provide follow-on services as future phases are released on these projects. We intend to continue aggressively pursuing heavy oil and alternative energy projects to provide growth, profitability and stability."

About Gemini Corporation

Gemini Corporation offers a wide range of interrelated services including project management, engineering, fabrication, construction, operations and maintenance of oil & gas and industrial facilities within Canada and internationally. The Corporation is a leading provider of engineered solutions and field services through either stand-alone or integrated, full-service approaches to a broadening client base in the energy, environmental and industrial sectors.

Shares of Gemini trade on the TSX Venture Exchange under the symbol "GKX". For more information about the Corporation and its services, go to www.geminicorp.ab.ca.

Disclaimer

This news release contains forward looking information that represents Gemini's internal projections, expectations, estimates or beliefs concerning, among other things, future operating results and various components thereof or Gemini's future economic performance. All statements other than the statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expects", "projects", "plans", "anticipates", and similar expressions. The projections, estimates and beliefs contained in such forward-looking statements are based on management's assumptions relating to Gemini's performance and competition within the sectors in which it competes, the continuation of the current regulatory and tax regimes in the jurisdictions in which Gemini operates, and necessarily involve known and unknown risks and uncertainties, including risks and assumptions relating to client service demand, field service costs, labour rates, and other factors that may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted or suggested. The Corporation does not undertake to update any forward-looking information in this document whether as to new information, future events or otherwise.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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